Insurance Premium, Insurance Policy

Rising medical costs are contributing to the increases in bodily injury liability claim costs. In general, medical costs have been rising at a 6% rate. On the other hand, advances in medical  insurance technology and improved rescue and life saving techniques result in fewer deaths, but this also drives up the cost of medical care.
It costs more to fix cars nowadays, and that means higher insurance  claim costs.

As cars have become more sophisticated through advancements like air bags, fuel injection, unibody construction and on-board computers, they also have become more expensive to repair in the event of an accident.

Theft & Fraud
Motor vehicle theft is the fastest growing crime in the nation. Fraud, a more sophisticated form of theft, is a major problem for insurers. According to the National Insurance Crime Bureau, fraud costs property and casualty insurance companies more than $20 billion a year, that's equal to 10 percent of all property and casualty claims paid industry wide.

Maintain a good driving record
Higher premiums are often the result of accidents and tickets. Be a defensive driver, watch out for the other drivers and obey the speed limits. Cautious drivers can afford an extra minute or two, and can pay less in premium dollars.

Explore higher deductibles
Purchase the highest deductible you can afford, to reduce the physical damage premium. The more you are willing to pay shows that you are investing in your own safe driving.

Consider the age and condition of your automobile
Physical damage insurance coverage on an older vehicle or one in poor condition may cost more to insure than it. s worth. In the event of an accident, you may receive less than you pay in annual premiums.