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If a state raises its speed limits, will insurance premiums go up for residents of that state?

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  • JetDoc
    Lv 7
    2 decades ago
    Favorite Answer

    Raising the speed limits does not automatically raise the insurance rates, as insurance rates are set by private companies, using many and varried factors to base the rate structure on. If the accident rate increases due to the higher speed limits, then it is more probable that insurance rates will go up.

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