Increasing Auto Rates in Arizona

It's no secret that the cost of almost everything has been on the rise.

Unfortunately, many rising costs have impacted auto insurance rates across the country. Just a few of the things to blame are:

• Inflation - the cost of new and used cars has skyrocketed
• Supply shortage - the cost and time to get auto parts has increased
• Labor shortage - increased cost for repairs and for medical services
• More accidents in AZ - AZ is a growing state, AZ has more than average traffic fatalities, AZ has lots of uninsured drivers, COVID aftermath plays a part.

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Here's why rates are on the rise...

And while it wasn't common for rates to increase periodically in order to account for inflation it seems in 2021 the auto industry has experienced even larger increases due to unforeseen COVID aftermath.

• Did you know that AZ has higher than average traffic fatalities.
• Plus, our state is growing!
• Approximately 30% of drivers lack insurance and are driving uninsured.
• More severe weather (wildfires, storms, droughts, extreme temperatures)

Now, with the unforeseen COVID aftermath we are seeing carriers have to increase their rates due to:

• More driving = more accidents
• Cost of Health care has increased
• The cost to repair vehicles keeps climbing due to more and more technology the vehicle (more sensors & cameras!).
• New & Used car values are up 25% (we heard this is going down but still could impact rates!)
• Shortage of parts for repairs
• Shortage of labor
• Don't forget Minimum Limits increased in July 2020!