Average annual automobile insurance rates in the United States rose 2% in 2019 to $1,548, and while that was roughly on a par with the annual inflation rate, it followed several years of larger increases.
One way to keep premiums down, say industry experts and consumer advocacy groups, is to compare quotes from different insurers, ideally every year or two.
Another way to lower your premium is to increase your policy’s deductible, the amount of money that you must pay before insurance coverage begins. (With a $500 deductible, you would pay $500 for a $1,000 claim.) Raising your deductible to $1,000 from $500 will save an average of 13 percent on your premium.
Read the article at The New York Times.