Car insurance rates in the United States are on the rise. Increased numbers of cars on American roads are leading to increased numbers of collisions. Low oil prices and steady job growth in the United States has lead to more people taking to the roads for pleasure and to get to and from work. Greater numbers of cars on our roads leads to greater potential for collisions to happen which in turn is seen as greater risk for auto insurance companies. In order to offset the increased risk and expense of having more vehicles on our roads insurance companies raise rates on customers. The increased value of cars is another factor leading to rising insurance rates. With greater and more advanced technology in cars the cost to repair and maintain them is increasing which causes insurance rates to rise to match potential costs.
What do you think of the increase in insurance rates and will you continue to drive or find other means of transportation?
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