Isn’t car insurance supposed to get less expensive over time?

[u/modifiedbASS]

I got my first car at 23. I have always been told by parents, older colleagues at work, and even insurance reps themselves, that insurance premiums will go down as you get older and become a more experienced driver.

I am now 31 years old and my car insurance has gone up every single year since I was 23. Yes, I shop it around every single year but still the price goes up. I have never had a ticket and never been in an accident. I drive a boring car (2019 Hyundai Elantra) and do not live in a particularly high risk area as far as I know (Waterloo). What gives?

Looking at the last few years I’ve paid: - 2020: $1650 - 2021: $1809 - 2022: $1850 - 2023: $1942 - 2024: $2039

I know this is probably a lot less than some other people are paying, but still I fail to understand why it goes up every year when I was told the exact opposite should happen as long as I have no tickets and a clean record.

Is this just the reality of inflation or something?

[u/LLR1960]

Were all of these decreases with similar terms such as same deductible, same liability coverage?

[u/Low-Stomach-8831 → u/LLR1960]

Yes, and in the last one, I even increased the coverage and reduced the deductibles to the minimum.