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Saving Advice
Saving Advice
Drew Blankenship

6 New Insurance Requirements That Are Raising Premiums for Older Drivers

insurance premiums
Image Source: Shutterstock

Is it time to renew your car insurance? Well, you might find a surprise in the mail once you’ve opened your renewal letter. Premiums are climbing again, and even if you haven’t had an accident or any tickets, you may be getting hit with an increase, too. State-level rules and updated federal guidelines have changed what insurers must cover. Unfortunately, seniors are feeling the financial stress from it. Here are six new requirements that are behind the change.

1. Higher Mandatory Liability Minimums Are Increasing Base Premiums

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