Attorneys handling auto insurance problems will see situations where a person has their insurance raised after a claim. This is sometimes done in violation of Texas laws. The Washington Post published an article in February 2018, that deals with auto insurance rates. It is titled, Auto Insurance Rates Have Skyrocketed – And In Ways That Are Wildly Unfair. Here is what the article tells us.
Auto insurance rates have increased at more than twice the rate of inflation recently. Nationally, the rates are $1,427. Catastrophic weather caused some of the increase in 2017. Ineffective state regulators also contribute by not holding auto insurance companies in check.
Consumer advocates say insurers have become adept at using Big Data to set rates for drivers using formulas that are complex and sometimes hidden from view. In the crazy, mixed-up world of car insurance, credit ratings and college diplomas can have a bigger bearing on car insurance premiums than someone’s driving record. The people most often hurt are low-income drivers who can least afford to buy state-mandated insurance, they say.