When obtaining auto insurance quotes, we all tend to shop around to get the cheapest and best for the coverage we're looking for.
We all know that President Obama is doing his best to clean up the auto industry. He even went as far as to remove the General Motors CEO, Rick Wagoner last year. The auto industry bailout that has been in effect since the beginning of last year. Despite handouts and checks to consumers to buy new cars, most would rather keep their old cars and fix it rather than shell out money for a new one.
Now how does this affect your auto insurance quotes or coverage? Well for starters, Some could also argue that with many more older cars on the road, it is more dangerous to drive. Newer cars have fewer problems and are up to par on the newest standards and regulations. There are many old cars on the road that make you wonder how they passed an inspection test.
Consequently, I won't be surprised if new market data show it's more dangerous to drive now than 10 years ago when the were more "newer cars on the road". For those of you who pay car insurance, you know that the insurance on an older car is MUCH cheaper than on a newer car. Meaning auto insurers may not be making as much money as before. So with this new "market data", most auto insurance bills could increase across board this year 2010 regardless of whether you do drive an older car or not.
Overall, it's perhaps better to shop around, seek a new cheaper auto insurance plan while it's available and lock it in for a year at least, in order to protect yourself from price hikes which seem certain in the future.
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