Car Insurance 2022: How to lower your car insurance rates – Marca English

Here’s how to mitigate your car insurance rates in the face of rising inflation
The year 2022 has been particularly harsh for consumers across the USA in terms of rising inflation.
Brought on by a combination of supply-chain issues caused by the COVID-19 lockdowns and Russia’s invasion of Ukraine, countries across the world are paying more for basic necessities such as food and shelter.
In fact, a quick look at the Consumer Price Index shows an increase of 9.1 percent over the last year, which in itself is a 40 year high.
The increased cost of living has also affected auto insurance premiums, with The Wall Street Journal indicating that certain auto insurers have increased their rates by as much as six percent to eight percent or higher in certain cases.
This is a far cry from 2020, when several insurance companies offered their customers rebates, with insurance companies saving money with drivers locked down and off the road.
While now might seem like a good time to reduce your insurance coverage in order to save money, it would not be prudent to do so. While you might save on your insurance outlay, an accident could you see you spending more to fix the damages.
There are several reasons for the surge most tracing back to the pandemic. Here are some of the reasons contributing to the rise in insurance rates:
While things may seem bleak as the year winds down, you can use the following actions to save a bit of money on your car’s insurance:
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