<aPEMCO Insurance coverage: Why automobile insurance coverage rates increase – Q13 FOX

28October 2019

SEATTLE – The majority of us are no longer a teenager, our cars and truck is growing older and we have n`t racked up a lot of tickets or mishaps; so why does it seem like the rate for vehicle insurance coverage never seems to go down?Q13 took a seat with the experts at PEMCO to discover.”As strange as it sounds, there are some good ideas driving up the trend, “Financing Analyst Brad Kormylo stated.” We have a strong economy, low gas prices, a flourishing population, all of those things suggest more people on the roadway, driving more miles and regrettably it implies more accidents too. Another aspect is our cars continue to be improved with better innovation that assists keep us safer-things like blind-spot cautions, automated brakes, lane sensors, all of these aid keep us safe however it increases the expense to repair or change a vehicle.”Sadly, there are some negatives aspects likewise contributing to the expense. Sidetracked driving is now a leading reason for mishaps, right up there with speeding and intoxicated driving.So, is there any end in sight to the rising expense of insurance?”Yes, we do believe there is a tide that will turn we just are not there yet,” Kormylo stated. “If we think about the average

age of the cars and trucks around us on the highways, these days they are 11 years old and have pretty restricted security devices. As those cars continue to age and are replaced on the road with much safer cars and trucks, we will see that those trends help drive insurance rates down.”The Wall Street Journal approximated that when self-driving cars and truck technology ends up being really prevalent, we might cut auto accidents by 90%. Some forecasts say that when we reach that point, auto insurance premiums could go down by 40%. Up until then, PEMCO has some ideas: The experts

at PEMCO say the most important thing to do is never ever cut coverage. It may conserve you money momentarily, but will cost you in the long run

if you get in an accident.Source: q13fox.com

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