SEATTLE — Industry experts predict we could see a dramatic spike in car insurance rates across Western Washington, and it may be partially linked to an increase in stolen vehicles.
Insurers use where you live, the number of miles you drive and your driving record to price your policy.
Other factors may include age, gender and credit score.
But increasing auto thefts in our state also play a role in the cost of insurance.
“We’ve seen a significant jump in auto theft in Washington state. I believe 30% year over year between 2019 to 2022. We might see that level off in 2024, but those costs are impacting insurance premiums today and probably will through 2024,” said Kenton Brine with the Northwest Insurance Council.
Brine said that statewide, the cost of auto policies could increase an average of 2% to 6%. But because that’s an average, some policies may remain the same while others could see an increase of more than 6%.
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