Car insurance premiums are still rising. Here's how to cut your bill

Car insurance premiums are still rising. Here's how to cut your bill

Assessment

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Life Skills, Business, Architecture

University

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Car insurance premiums have risen significantly since 2022 due to factors like increased car costs, credit score considerations, and price optimization by insurers. Despite these increases, there are strategies to reduce insurance costs, such as asking for discounts, reviewing policies, and shopping around for better deals. It's important to regularly compare insurance options to find savings.

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7 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is one of the main reasons for the increase in car insurance premiums since January 2022?

Lower demand for insurance

Rising cost of car parts

Increase in car thefts

Decrease in car accidents

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which type of insurance covers injuries and damages you cause to others?

Comprehensive coverage

Liability insurance

Personal injury protection

Uninsured motorist coverage

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How do insurers use credit scores in determining insurance rates?

They use them to predict the likelihood of claims

They use them to determine the type of coverage

They use them to offer discounts

They ignore credit scores completely

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is one way to potentially lower your car insurance premium?

Add more drivers to your policy

Increase your coverage

Drive more miles

Ask for a price reduction

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What should you consider dropping if your car is nearly worn out?

Uninsured motorist coverage

Personal injury protection

Collision and comprehensive coverage

Liability coverage

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a benefit of bundling your home and auto insurance?

Higher premiums

Fewer coverage options

A discount on your insurance

Longer claim processing times

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a recommended action to take every year or two regarding your insurance?

Increase your deductible

Shop around for better deals

Cancel your insurance

Add more coverage options