Why Do Insurance Premiums Increase

Factors why rates keep increasingDistracted DrivingCost of Vehicle RepairsNumber of Vehicles on the roads today/Amount of miles drivenMedical ExpensesLawsuits

Why Do Auto Insurance Premiums Increase?Moving. The location of your home is an important factor and can raise your monthly rate. ...Your Credit Score. Having a bad credit score can affect a lot of things, so it should be no surprise that it can raise your auto insurance rates.An Increase in Accidents in Your Area. ...Higher Costs of Maintenance. ...Rising Amounts of Distracted Driving. ... More items...

Some factors that lead to rate rises include: increased hospital costs (including doctors' charges); an increase in cost of medical equipment and changing technology; the growing number of complex and expensive procedures available in private hospitals; and the rate of private health insurance claims.

Health insurance premiums go up because medical costs increase. Doctors need to be paid more, drugs are more expensive, testing technology gets more sophisticated and expensive, and so forth.