RICHLAND, Wash. – Inflation has impacted nearly everything, such as groceries and gas, and now it’s affecting car insurance rates. According to a report by Value Penguin, drivers in Washington can expect to pay more for car insurance this year. The state will see the second-biggest rate increase in the nation in the last year.
The report says Washington drivers pay on average $128 per month on car insurance compared to the national average of $168 per month, leaving some on a limited income trying to figure out how to manage.
Tobaski Snipes is the founder of Snipes H3. A young adult program in the Tri-Cities where young adults 18-24 receive mentorship through either an education or work program.
“While they’re trying to better their life situation, getting a vehicle has been an integral part of getting a job that’s suitable for their financial needs,” Snipes said.
Snipes said one of the adults in his program recently bought his first car.
“When they have to get these vehicles, obviously, it comes with several other things,” he said. “You’ve got the car payment, you’ve got the registration and then you have the insurance.”
According to the report from Value Penguin, from 2022 to 2023, car insurance rates have significantly increased, going from 2.9% to 18.2%. Snipes said this is a difficult thing to manage.
“With the insurance being on the rise obviously 50 bucks a month impact them greatly,” said Snipes.
Al Moreno is an insurance agent with Country Financial in Richland. He said the rates are on the rise for a couple of reasons.
“A lot of what it is is the cost of repairing these newer cars,” Moreno said. “That being with backup cameras, windshields with different technology that need to be calibrated. Things are just more expensive on the vehicles.”
Moreno said texting and driving and frequent accidents also play a part in the increase. He stated there are programs that insurance companies offer to lower the rates.
He said if you feel your bill needs to be corrected, contact your insurance agent.
“So that you’re not missing any of those discounts,” he said. “I do anticipate that these rates will slow down in the future. Obviously, we’re up against an inflation situation.”
