Rising cost of insurance, other travel expenses has drivers reconsidering summer travel plans

SALT LAKE CITY — Gas prices are the No. 1 thing making people think twice about a long summer drive, according to a new survey shared with the KSL Investigators by Experian.

But there is a more long-term cost also impacting the decision for some: insurance.

“They have doubled the premium on me,” Trisha Madsen told KSL-TV earlier this year. The average auto insurance premium has climbed by more than 20% over the past five years. But for some, like Madsen, the increase has been a lot more.

“To double them is quite a deal!” she said.

Now, Experian’s new data shows 71% of drivers are reconsidering their summer travel plans.

“Their road trips are being adjusted,” said Rod Griffin, Experian’s senior director of public education and advocacy.

He said the rising cost of road-tripping has brought those spiking insurance premiums into focus for folks — whether it’s the fear of getting into an incident that requires an insurance claim or simply looking to lower insurance premiums to offset gas and other travel expenses hit by inflation.

“They’re telling us is they’re trying to find ways to save money this summer so that they can still have some road trip, but do so that it doesn’t break the bank,” Griffin said.

Though they may not seem related, improving your credit score can lower your auto insurance premiums. As can shopping around for an insurer offering a better rate. Experian recently launched a website aimed at helping consumers compare coverage and prices.