I went 2 years without car insurance because I was traveling around the world and didn’t own a car.
I just bought a new car and now my car insurance is skyrocketed. I never had a claim or accident or points for 50 years. How long in months or years before it I might get a lower rate? TIA
High rate after 2 years without insurance….
byu/Rock711711 inInsurance
Posted by Rock711711
1 Comment
Insurance history is a large part of most company’s risk profile. Unfortunately, you also have just purchased a new vehicle (insurance sees this as you are still figuring out how all the parts work). There’s also the chance the “skyrocketing rate” you’re seeing is just the 2 years of regular rate increases that everyone has been talking about.
No one can tell when your rate will go back to what you can remember: there’s a chance it may never do that. I would look into speaking with a broker and finding specific ways to save like the on board tracking devices or bundling with another policy that makes sense ie Homeowners.