Good afternoon, Don Garlow here, of Garlow Insurance. Welcome to Frequently Asked Questions on our video program. Today’s frequently asked question, made me laugh because the question was, can insurance companies raise rates? Of course they can. They do it all the time. The question might be, why do they do it? The only reason they do it is cars become more expensive. Automobile claims are more and more expensive. So, in order for the insurance companies to remain viable, they’ve got to raise the rates and they do it, all the time.
Rates are going up, up, up, all the time. But, they pay claims. That’s what we want them to do. There’s the answer for today. Insurance companies can and will, raise rates. Thanks for watching the video. See you next time.
Call Garlow Insurance Agency in Chesapeake VA at (757) 548-1515