It’s renewal time for your MAIF car insurance and you notice that your rates are going to go up. But what caused this? Why are they now higher? Roadway Insurance, Inc., a MAIF insurance provider, explains why this may be the case.
You’ve Had Speeding Tickets or Other Violations
Depending on what the violation is and how severe it is, your car insurance may be affected. If you’ve had a clean driving record otherwise and it was a mild violation, your premium shouldn’t be impacted. However, if you have some severe violations or multiple tickets, it’s likely your insurance is going to go up.
You’ve Had an At-Fault Collision
Insurance kind of works by rewarding you for having multiple years without having to make an at-fault claim. If you’re in an accident and determined to be at-fault, this count resets. You have to start over and get back to your claim-free status.
Your License has Been Suspended
If your license has been suspended for an administrative reason, your premium shouldn’t be affected. This includes you forgetting to renew the license or having to forfeit the license due to medical reasons. However, if it’s been suspended for a serious offense or traffic violation, your insurance premium is going to become more costly.
The Impact of Car Insurance Fraud
Car insurance fraud is something that’s been impacting the entire car insurance industry. While insurance companies are doing their best to reduce fraud and make sure the impact on the customers is reduced, there’s only so much they can do. Make sure you know the signs of insurance fraud and ensure you and the people around you aren’t making these mistakes.
Trends of the Area You Live In
If your risk of making a claim increases, your insurance is going to increase as well. Car insurance companies need to charge consumers enough to make sure that all claims made can be paid. If you’re living in an area that’s had an increase in traffic congestion, extreme weather events, or other factors that can lead to a collision, your insurance will go up to offset the increased chances of making a claim.
Increased Repair Rates
As the technology in modern vehicles becomes more sophisticated, they cost more to repair. Driver assistance systems are made up of complex sensors and other technological components that help to keep everyone in the car safe. However, these components cost more to repair than the older technology of past cars.
Getting MAIF Car Insurance
With Roadway Insurance, we do our best to make sure you can get the lowest rates in Maryland. Call us, contact us online, or get a free quote today!