The good news is that the economy is improving in most sectors of the United States. The bad news? People are driving more and accident rates are increasing.
Because there are more auto accidents, there are more insurance claims. And while you may not care if that means lower profits for insurance companies, it also means that insurance rates must rise to cover those losses.
Many of the large auto insurance companies are seeking to raise insurance rates to counter the trend of more frequent and costly claims and lower profits.
And that means, we may all see an increase in our overall auto insurance premiums in the very near future.
Ouch!
