• Why Us?
    • About Us
    • Leave A Review
    • Refer Friends & Family
  • Our Products
    • Personal Insurance
    • Commercial Insurance
  • Service Center
  • Contact Us
  • Get Quotes
  • Blog

The Paulson Becker Agency

logo

Insurance Agency in Spokane, Washington | (509) 380-9930

Call (509) 380-9930 info@paulson-becker.com
Get Started Today!
insurance agency Spokane WA

Why Do My Auto Insurance Rates Keep Going Up Even Though My Car Keeps Getting Older?

February 2, 2017 mattp

Why do my auto insurance rates keep going up even though my car is getting older?  At The Paulson Becker Agency, many of our clients ask this question so I would like to address it from a couple of angles.

First things first, even though it’s called car/auto insurance, it covers more than just your car. It should technically be called “auto-owners” insurance, similarly to how home insurance is actually called “home owners insurance”.

It’s important to understand that there are a lot of variables that go into insurance premiums, and with auto insurance, it’s no different.

The insurance company is much more concerned with you crashing into someone and causing them (or yourself) bodily harm, or death, than they are about your car. A car is a material possession which can be replaced.

A human life is not.

When is the last time you looked at your auto insurance policy?
If you look at it you’ll notice there are a lot of different coverages on your auto policy.

Bodily injury
Property damage
Un-insured motorist
Under-insured motorist
Medical Payments
Loss of Income
Funeral Expense
Loss of use
Rental Reimbursement

These are all things that you are covered for on your auto policy. How many of them have to do with your car?

None.

How many of them have a price next to them on your policy?

All of them.

Your car isn’t the only thing you’re being charged for on your policy
That’s because auto insurance covers far more important things than your car as mentioned above.

Let me re-phrase that: your car insurance rate isn’t just based on your car.

You’re not the only one…
It’s also important to understand that you are not the only person your insurance company insures. You are one fish in an ocean of other fish, sharks, and sea creatures, all who have different characteristics and risk profiles.

Insurance is all about spreading costs over a large number (risk pool) of people, which each person paying their fare share. That risk pool is constantly changing, and is impacted by a ton of different things, including the overall economic climate.

This means that you are sharing in the cost of millions of other people, many of whom may have poor loss history and/or credit.

That’s what insurance is though — sharing in the cost.

The next time your auto insurance rates go up, take a look at the big picture. Make sure you’re looking at ALL of the coverages, and corresponding rates.

Hope this helps!  If you would like to know more about Car Insurance be sure to visit our page dedicated to it.

Filed Under: Uncategorized

Copyright 2020 The Paulson Becker Agency | Website by Advisor Evolved

insurnace agency insurance agency Spokane, Washington
insurnace agency insurance agency Spokane, Washington

Visit Our Office

707 W Main Ave
Suite B1
Spokane, WA 99201
Get Directions
(509) 380-9930
info@paulson-becker.com

Proudly serving residents and businesses in Washington.

If you’re looking for a better insurance experience, we’re just a click or a call away!

Start Your Quote Here

Contact Our Office

The Paulson Becker Agency
707 W Main Ave
Suite B1
Spokane, WA 99201
Get Directions
(509) 380-9930
info@paulson-becker.com

Get Connected

  • Facebook

Privacy Policy

Accessibility

Get Social

The Paulson Agency

Copyright © 2023 · Advisor Pro on Genesis Framework · WordPress · Log in

  • Why Us?
    • About Us
    • Leave A Review
    • Refer Friends & Family
  • Our Products
    • Personal Insurance
    • Commercial Insurance
  • Service Center
  • Contact Us
  • Get Quotes
  • Blog
We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept”, you consent to the use of ALL the cookies.
Cookie settingsACCEPT
Privacy & Cookies Policy

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may have an effect on your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Non-necessary
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.
SAVE & ACCEPT