Car insurance is up 22% from the same time last year

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Allison Gormly tells us What's the Deal with why its happening plus how you might be able to cut costs.

Gregory & Appel Insurance advisor Natasha Mecklenburg said their group is hearing from customers daily.

"Claims," Mecklenburg said,"Believe it or not, weather-related claims. We have a ton of hailstorms. we think of hurricanes in Florida, a majority of those claims are all car insurance.""All the electronic gadgets that we're seeing in E-cars. They're a lot pricier to repair and the wait time for the parts to come in is a lot longer than we anticipate," Mecklenburg said. For example, replacing a standard side mirror can be $300 to $500.

If you are looking for ways to save money on insurance, pull out your policy and talk to a broker who can shop it around with multiple carriers.New rule aims to lower credit card late fees | What's the Deal?Next, make sure your life information is up to date. Did you change ZIP codes? Did a kid move out? Are you working remotely? All of that can impact your price.Ask your broker what is at risk if you lower or leave out any optional protections.

 

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