Warren Buffett, CEO of Berkshire Hathaway which owns Geico, was recently interviewed about personal insurance rates increasing, with his opinion being this is due mostly to distracted driving. Lawley’s Dan Murray, Chief Marketing and Underwriting Officer, was interviewed by WGRZ’s Kelly Dudzik to discuss some of the reasons we see insurance rates that are beyond our control.

“I agree with what Mr. Buffett had to say. A lot of it has to do with all of the gadgets we have in our cars right now. GPS, your cell phone, all of your electronics within the car,” says Dan Murray.Murray, the Chief Marketing and Underwriting Officer with Lawley in Buffalo, says all of the insurance companies are raising rates across the board.

“Personal lines, you might see anywhere from two to three-percent up to six or seven-percent,” says Murray.

“People are on the road more. A lot more travel. And we’re seeing a lot more claim activity as a result of it,” Murray said.

For the average New Yorker who pays $98 a month for car insurance, a seven-percent increase would mean you’d be paying almost seven dollars more for a total of around $105 a month. Murray says rates could keep rising because rates are based on insurance claims from a few years ago.

He also believes cheaper gas prices have contributed to an increase in accidents.

“People are on the road more. A lot more travel. And we’re seeing a lot more claim activity as a result of it,” Murray said.

The full interview on WGRZ can be found here.

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