Arkansas Auto Rate Changes
Effective April 15th, 2022 Progressive Insurance is adjusting their auto insurance rates in Arkansas.
Why? With the outbreak of the pandemic in 2020, there were less drivers on the road, and claims were at an all time low.
However, driving frequency has crept back up to normal levels, perhaps even higher than what it was before the pandemic hit. In order to cover recent loss trends and higher associated claims costs, this change was deemed necessary.
Unfortunately, inflation has affected every industry, but especially the automobile industry, resulting in not only Arkansas auto rate changes, but changes across the country. The cost of parts and to repair one’s vehicle have skyrocketed, which has led to a short supply of parts, labor, and cars.
How to keep your Insurance prices affordable with the Arkansas Auto Rate Changes
While overall rates may be increasing, partially due to inflation, individual rate changes will vary depending on a number of factors. If you are affected by these Arkansas auto rate changes, there are still ways that our agents can get you the coverage you need, without breaking the bank.
Higher Deductibles – The higher the deductible, generally the lower cost for insurance premiums. Consider choosing a $1000 deductible instead of $500, or $250 to help save money.
SnapShot Program– Snapshot is offered to new and existing customers, and provides customers with a personalized rate. Customers will immediately earn 10% off of their premium, and could earn up to 30% off their renewal based on safe driving habits.
Last Updated on by danielle Deshong