Could a government shutdown make insurance more expensive?

I feel like we just did this government shutdown stuff a few years ago. I wasn't a car or home owner in 2018/19, but I am now, and I'm wondering if I need to be concerned about rates going up due to this chaos.

Great question, but luckily, you don't need to panic. A government shutdown won’t make your car insurance rates jump overnight, but it can influence what you pay over time. If the shutdown drags on and causes economic uncertainty, insurers may face higher repair and claims costs, which can eventually push up auto insurance costs and car insurance premiums across the market.

When government spending slows, it can lead to higher repair costs, supply chain bottlenecks, and more claims delays; all of which insurers factor into how they set prices. A longer economic slowdown could eventually push some companies to raise premiums or tighten underwriting, especially for drivers with older vehicles or multiple claims.

If you’re concerned about rising rates, it’s smart to review your current coverage and compare quotes while rates are steady. Even small shifts in the economy can make it harder to find lower-cost options later. If you want to check on current rates, our agents can help you shop around and evaluate different options, or you can get started on your own today. I hope this helps!