I’ve seen multiple posts lately about people confused about their auto insurance prices going up, it’s going to happen a lot the next year. Most companies work at a loss ratio of 50-70%, and many are reporting higher than 120% which means for every $1 they make they’re giving out $1.20.
You’ll most likely see rates go up, don’t be loyal to one company if you can get if significantly cheaper, and make sure you don’t have a lapse in coverage. Stay diligent!
Submitted October 30, 2022 at 10:07PM by Grayjay000 https://ift.tt/lufIk4P
