Five Car Insurance Trends
The five car insurance trends drivers need to be aware of are 1) competitive insurance rates, 2) mileage-based insurance, 3) more accident-free discounts, 4) more uninsured drivers on the road, and 5) more insurance mobile apps. Pay-As-You-Go is quickly becoming the most popular auto insurance trend, mainly because it’s a new way to offer discounts to drivers. See how much you can save on car insurance with our free comparison tool below.
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UPDATED: Jan 21, 2021
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Wondering what to expect this year when it comes to car insurance? Will rates rise or remain the same? Insurance.com takes a look at the top trends for 2011:
Car Insurance Rates to Stay Competitive
Because we’re in a so-called “soft market,” car insurance companies are keeping insurance premiums low in order to compete for any prospective customers out there.
Take advantage by shopping around, even if you’re already insured!
Pay-As-You-Go car insurance is going to get more popular in 2011, mainly because it’s a new way to offer discounts to drivers.
If you don’t anticipate driving much this year, be sure to inquire about mileage-based car insurance plans when shopping for insurance.
It recently got approved in California…
More Discounts for the Accident-Free
Things like accident forgiveness are growing in popularity, and could serve as a strategy to squeeze out smaller players.
Increase in Underinsured Drivers
This has to do with the bad economy and drivers cutting back to save money each month – unfortunately some may be going a little too far in purchasing things like minimum car insurance.
Car Insurance Goes Mobile
Finally, expect more car insurance purchasing and processing to take place on mobile devices.
Car insurers are launching iPhone and other smart phone apps to help customers pay their bill, file claims, and even buy insurance.
While they go digital, be sure to do the same by researching available options and gathering insurance quotes online to ensure you get the best deal.