PHOENIX — It’s not just the prices at the pump that are costing you more with your car.
Experian’s senior director of consumer education, Rod Griffin, says those car insurance rates are also rising.
“Things like auto parts are getting more expensive, so insurance companies will have to pay more for repairs, which means they’re going to pass that cost on to you,” Griffin said. “It’s important to find ways to save wherever you can.”
Griffin suggested comparing insurance rates to make sure you’re getting the best deal.
He said that for people who find new carriers with lower fares, Experian has found that the average savings are around $900 per year.
It’s important to note that when looking for new rates, auto insurance companies may look at your credit score.
You can even give your credit score a boost by adding your cellphone payments, utility payments, and streaming service payments as factors in your credit reports on some sites like Experian.
“Use the tools available because it will help you, again, to save money, to get better conditions, better rates, not only in the field of insurance, but also in other types of products and financial services,” Griffin said.
Another factor to consider is to make sure you are comparing similar plans to your current plans.
You don’t want to upgrade to a cheaper plan and then find you’re less covered because you accidentally downgraded.