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Here's why your auto insurance rates are rising | FOX43 Finds Out

Pennsylvanians who are renewing their policies are paying more than they have the past two years. FOX43 Finds Out how to save some cash.

BAINBRIDGE, Pa. — Bob Bucks of Bainbridge has been driving his dodge truck for a few years. He's had no accidents or claims, but his auto insurance policy went up again this year by about $80.

He said, "That's a couple of tanks of gas, that's groceries."

What really shocked him was his motorcycle coverage from AllState, especially since he went from 3 bikes to two.

Bucks said, "I knew it went up, then I went back and looked a little further and thought holy cow! I dropped a bike and it went up $100."

Blame inflation

Bucks knows inflation is to blame for why his policies are more expensive.

According to the latest Labor of Bureau Statistics data, auto parts are up about 10.5% over the past year. 

Chase Gardner, a data journalist with Insurify, says even if you haven't had to pay for a car repair recently, your insurance company has and that's why rates are spiking. He said, "For each claim that's being filed is spending 10%, 15% to 20% more to cover the same accident than they were a year or two ago."

Gardner says the average Pennsylvania driver paid $100 more for auto insurance last year and that is expected to go up again this year too with the average being about $1,360 per policy.

That has drivers like Bucks ready to shop around. He said, "I might go look at Progressive, Geico, a couple of those, look around a little bit."

Missing out on discounts

Insurify did find about 30% of drivers are missing out on discounts.

Here are some things to consider: bundle your home or renters policy with your vehicles or change to a mileage usage base policy if they work from home.

Another way to get a discount is to renew your insurance before it's due, a lot of companies offer early bird discounts.

Although the experts say getting different quotes is your best option.

If you have a story you want Jackie De Tore to look into, FOX43 wants to find out. Send her a message on Facebook or send an email to FOX43FindsOut@FOX43.com. 

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