Every Kansas City driver should have car insurance. However, getting covered also means paying for your policy. Obviously, we all want to keep our policies affordable. However, your premiums will increase from time to time. Why does this happen? Is there anything you can do to help your premiums stabilize?
Why Car Insurance Premiums Change 
Your car insurance premium is the cost you pay your insurer to cover you. Like all services, policy prices vary based on the principle of supply and demand. The more coverage you need, the more you will have to pay.
In the insurance world, your need for coverage will translate into risks. Insurers take a risk by insuring you because they know that you might someday have to make a claim on your policy. They make up a lot of that risk through the premium they charge you.
It is possible for two drivers to carry the same auto insurance policy but pay different costs. One driver’s risk rating has the potential to cost insurers a lot more money. They are a riskier investment and a higher-risk driver. As a result, the insurer might have to charge them more.
Still, both drivers' premiums might change over time. As times change, so might their insurance risks. Therefore, what you pay for one policy term might not be the same thing you pay for the same coverage in its next term.
Factors That Might Raise Your Premiums
When an auto policy approaches its end date, the insurer will either opt to renew or decline to renew the policy. At this time, they will tell you about any increases to your premium.
If your risk levels have increased since you got your last policy, then your premium might also. Some of the factors that might increase your premium include:
- Having a wreck that was your fault and making a claim on your policy.
- Increasing your policy limits, which means your insurer might have to pay you more for a claim.
- Decreasing your deductibles, which shifts more damage costs onto the insurer.
- Receiving speeding tickets or committing other traffic violations that show you are an unsafe driver.
- Buying a new car worth more than your old one.
- Moving to a location where there are higher accident or theft risks.
- Racking up more miles on your odometer over the last year.
Even with increased risks, you might be able to keep your rates affordable by asking your agent if you qualify for discounts. You can also buy from an independent agency that offers policies from many insurers. Independent agents can compare premiums on similar policies from competing insurers. You might be able to save simply by switching to coverage from a different carrier.