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Automotive insurance charges are anticipated to extend in 2022. How Texans Can Save Cash – WFAA.com

According to a recent ValuePenguin study, auto insurance rates are expected to increase by around 0.6% this year.

TEXAS, USA – According to a national insurance research firm, many motorists across the country are likely to see an increase in auto insurance premiums in 2022.

For many Texans, however, this increase is unlikely to be as drastic as in other parts of the country.

According to a recent ValuePenguin study, auto insurance rates are expected to increase by around 0.6% this year. These rates fell in 2021.

The average cost of fully covered auto insurance in the US is currently $ 1,935 per year.

While 22 states will see increases of 1% or more in 2022, Texas is one in 14 to see a decrease. In fact, Texas has the second lowest average auto price in the United States at $ 1,094, according to ValuePenguin. Maine has the lowest average at $ 1,051 while Michigan has the highest at $ 7,161.

However, when it comes to the cost of a traffic violation, ticket, or accident, Texas has the largest percentage increase in the country from last year to this year in auto insurance, according to ValuePenguin. This average premium increase is 142%. North Carolina is the second highest at 127%.

What factors affect car insurance rates?

There are many reasons why insurance rates differ from driver to driver, aside from the number of accidents and tickets someone has received, as well as a person's driver's license.

The way people drive the roads you live on, as well as the frequency of wrecks, can have an impact on your potential rewards, according to Rich Johnson. He is the communications director for The Insurance Council of Texas.

"Is there a sudden increase in accidents in your area?" Johnson posed. “We look to the future and say, 'Okay, there are a lot of people in this area who drive too fast. There are a lot of people who get into accidents. The frequency and severity are increasing.' All these factors are incorporated into auto insurance pricing. "

Certain parts of the country are more likely to experience heavier weather, which could cause greater damage to vehicles. It can also cause insurance companies to price differently depending on the region of the country in which you live or work.

"We like to see insurance as a team sport," said Johnson. "It writes risk. Not just the individual risk, but what is going on in the environment."

What Makes Texas Auto Insurance Unique?

According to Texas law, every driver in the state must have proof of auto insurance.

Texas also has a Consumer Bill of Rights for auto insurance, which explains rights for both drivers and businesses.

There are eight main types of auto insurance protection:

  • Liability insurance
  • Collision protection
  • Comprehensive coverage
  • Health insurance coverage
  • Protection against personal injury
  • Uninsured / underinsured motorist protection
  • Towing service and occupational safety
  • Rent Refund Protection

Because of the size of Texas and the variations in weather that can affect different parts of the state, there are few places in the United States that have a need for such a variety of coverage, according to Johnson.

"If you look at Texas, we have hurricanes, we have floods, we have hail and we have tornadoes," Johnson listed. "It's kind of a melting pot of natural disasters compared to many other parts of the country that may only have winter storms or certain types of storms."

This can save you money

One of the best ways to save money when it comes to your auto insurance is to look at other potential deals if your current plan expires, Johnson said.

"The best part is poking around," said Johnson. “Even if you're not buying a new car, it's a good time to look at your policy and see what's in it. Check with your insurance company or other insurance company to see if you can get a better rate. "

Johnson said the number of cars you have and the value of your care should play a role in your decision-making process. If you have an older car or you plan to stop owning it for an extended period of time, full coverage may not be required.

The website helpinsure.com also compares policies specifically in Texas, including the 25 largest insurance groups in the country. It can provide policies sold in your area, a company's tariffs, and different types of coverage.

Johnson said some other ways to potentially save money on your auto insurance include:

  • drive less a year
  • Membership Discounts
  • Discounts for graduate associations
  • take a defensive driving court
  • Providing testimonials to children with good grades

Johnson said it is on customers' shoulders to proactively see if insurance companies offer discounts or offers based on certain connections or reports.

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