Why San Antonio Car Owners Have To Pay For Higher Auto Insurance Rates
The Zebra claims to be the largest comparison site for auto insurance. The website released its findings after a massive national study to locate the places in San Antonio where people spend the most in auto insurance. The study took into account pricing data for the last 5 years including the tens of thousands of premiums that were affected by variables like age and gender. According to the findings, San Antonio car owners have to pay more for auto insurance due to factors like inclement weather, significant increase in population and uninsured drivers.
In San Antonio, auto insurance rates have increased by 41.4% over the last 5 years. The increase is far higher than the national increase of 11% over the 2011 rates. According to the Zebra study, 78237 Zip Code that includes Westlawn, Edgewood and certain parts of Memorial Heights is paying the highest insurance rate at $1,934 annually. The least insurance rate of $1,606 annually in the region is being paid by car owners in Kingsbury, an area northwest of San Antonio.
If you will compare the areas in Texas where auto insurance rates are highest, it is not actually San Antonio that is the most expensive Texas City to insure your car but Houston and Dallas at $1,906 and $1,791 respectively. San Antonio occupies the third rank at $1,783. The average state rate is $1,783.
What are the reasons for the local increase in insurance rates in Texas? In the last few years, Texas has experienced severe and damaging weather which has led to billions of dollars in property claims. Population has increased in the metropolitan areas which mean that more and more people will be filing for claims when they experience damaging events.
Because of the increase in auto insurance rates, some car owners are opting out of coverage. This puts insurance companies to more risks because they still have to pay for damage if your car is hit by an uninsured driver.
It is a legal requirement in Thailand to have compulsory Car Insurance (ประกันภัยรถยนต์) that will cover bodily injury and property damages. It is strongly suggested to use comparison sites to get at least 3 quotes before you make an informed decision.