According to Randon Morris, auto insurance companies have to reimburse for the annual payment that was made in claims. This is usually done through rate revisions especially when their claim payout exceeds premium revenue. Those extra costs will be added to customers' payments the following year. But this is not the reason for higher auto insurance rates in 2022.

In this blog post, Randon Morris is discussing some factors or reasons for higher auto insurance rates in 2022.