Last year was among the deadliest on record for driving fatalities, and particularly in Florida.
According to estimates from the National Safety Council, there was an 8% increase in traffic deaths from 2014 to 2015 – the largest increase in 50 years. In Florida, however, there was an 18% increase in traffic fatalities.
This falls in line with the state’s recent history. Since 2013, Florida has experienced the fourth highest increase in auto accidents in the country.
There are explanations for this, of course. A 28% drop in gas prices and lower unemployment rates have more people on the road, and an increase in cell phone use has led to about 25% of all car crashes involving cell phone use.
What is less certain, however, is whether these trends have caused the recent increase in auto insurance premiums. At a time when major carriers like
Allstate are seeking double-digit increases – particularly in the Southeast – some are making that connection.
Ellsworth Buck, vice president of auto insurance agency GreatFlorida Insurance, is not so sure.
“You can often trace back auto insurance hikes to more than one issue,” Buck said. “Medical expenses are on the rise as well as traffic accidents. Also, while today’s cars are equipped with advanced medical safety systems, they are also more expensive to repair.”
Regardless of the cause, auto insurance clients should be reminded to revisit their coverage options frequently. After all, a 2014 report from insuranceQuotes.com revealed that one in four American drivers have been with the same auto insurance company for more than 16 years, and 7% have stuck with that carrier for more than 30 years.
Another one in three drivers say they never shop around for auto insurance, and 30% only do it once every few years.
This behavior means many are missing out on discounts they could be taking advantage of, says insuranceQuotes.com senior analyst Laura Adams.
“Americans may think loyalty pays off, but when it comes to insurance, that’s not always the case,” Adams said. “Many people make the mistake of shopping only when they move or buy a new car, but data shows that rates fluctuate even when you haven’t had any major life changes. This is especially true for young people.”
That should be a powerful motivator for insurance agents, who excel at comparison shopping and demystifying some of the more complicated aspects of choosing a policy.
“All it takes is an hour every year to compare at least three companies’ quotes – that’s worth it to potentially save hundreds, or even thousands, of dollars,” Adams said.
