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The US has more than 250 million drivers today and we are curious about how car insurance is impacting them. Are they paying more in the recent years or less and how technology has been able to change (or not) the impacted rates.
Consumers need to be educated and informed about auto insurance. They need to be given all data which determines the rates, especially cheap auto insurance rate. Auto insurance depends on many different factors. The insurance rates keep changing and usually depend on factors on which the risk is assessed.
Additional findings point to how certain factors have caused auto insurance rates in the country to change over time. These include:
The Personal Information of The Driver:
Car Details:
Driving Attributes
Insurance and Buying Coverage:
Influenced by all the factors, this is a summary of the Auto Insurance graph of US in 2018
Most and Least Expensive:
Rapid Changes in Rates:
These States Are:
Annual rate changes had a national average of 9%. In some states, it was more than 45%.
Technology Related Impacts:
If you want cheap insurance rate, then be careful about these auto insurance factors.
This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author.
Alexander Saleh Head of Partnerships at Coincover
02 September
Alexander Boehm Chief Executive Officer at PayRate42
Alex Kreger Founder & CEO at UXDA
Azimkhon Askarov Co-partner at CONCRYT
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