Over the course of the past decade, insurers have steadily increased rates year after year, and several trends suggest that drivers could continue to pay more for car insurance in 2020 and beyond.

One major factor likely contributing to rate increases is profit loss. On average, the largest U.S. insurers have not experienced an underwriting profit for some time — even in spite of consistent rate increases. Insurers typically raise rates to offset losses. In the graph below, you can see the 10 largest U.S. insurers, on average, had year-on-year profit loss of 3.3% and in turn increased rates by 4.4%.

• High frequency of natural disasters: Natural disasters and other climate-related incidents have created substantial losses for insurers over the past decade. Weather-related events like hurricanes Sandy, Michael, Florence and Irma collectively caused billions of dollars worth of damage and in turn insurance losses, as natural disasters are typically covered by comprehensive car insurance.
• Increase in fatal car crashes: The National Highway Traffic Safety Administration notes that fatal car accidents have steadily increased in the United States, from 30,202 in 2013 to 34,247 in 2017. While fatal accidents from distracted driving have somewhat tapered, the overall net increase in fatal crashes is alarming for road safety. More deadly accidents also lead to a higher frequency of insurer claim payouts and underwriting losses.
• Growing repair costs for vehicles: Automobiles are increasingly laden with sophisticated technology. While drivers can benefit from smart car technology, such transformations typically increase the value of cars and in turn the cost to repair them. Even previously inexpensive repairs like bumper damage can be more costly with new vehicle technology like rearview video systems. Insurers raise consumer premiums to mitigate the risk of higher claim payouts for smarter cars.

What does the future hold for car insurance quotes?

While accurately predicting rate increases is challenging, the trends identified above, especially insurer profit loss, are likely to continue and result in higher premiums for consumers. If these trends slow down, or even reverse, then auto insurance rates may hold steady or decrease.

Because predicting rate changes is difficult, the best way to save money on car insurance is to compare quotes from several insurers. Shopping around for coverage can help you ensure you're paying the cheapest rate possible.

When requesting a quote or submitting a form for a quote online, you'll need to have some personal information about you as a motorist on hand. This is a list of the information you'll commonly be asked for when inquiring about a quote:

1. Address
2. Date of birth
3. Gender
4. Social Security number
5. Current insurance information (if any)
6. Marital status
7. The make, model and year of the car you drive
8. Whether you purchased the car new or used
9. Your car's odometer reading / how much you drive in a year
10. Vehicle license plate number
11. Driver's license number
12. Driving history (any claims, violations or accidents)

The type of auto insurance policy you choose — whether minimum or full coverage — will affect your quote, so it helps to have a general idea of which coverages you'd like before getting one.

We typically recommend all drivers consider purchasing full coverage car insurance, particularly if their vehicle is worth more than $2,000. Additionally, some drivers may need special coverages that increase the price of their auto quote. Gap insurance, for example, is an optional coverage that reimburses drivers financing their vehicle with an auto loan in the event of auto theft or a total loss.

Be sure to consider any unique circumstances that will influence the policy type and coverage options you select when getting a quote. You should also try to determine ahead of time what liability limits you'll select for the following standard coverages:

• Bodily injury liability reimburses medical expenses, emergency services, compensation of lost income and even funeral expenses to another driver for accidents in which you are at fault.
• Property damage liability covers repair and replacement costs of damage to homes, storefronts, vehicles and other property for accidents in which you are at fault.
• Personal injury protection (PIP) offers reimbursement for your own medical expenses, regardless of who was at fault in an accident.
• Uninsured/underinsured motorist offers reimbursement for your bodily injury or property damage expenses for accidents in which the at-fault driver is uninsured or underinsured.