Portsmouth, as its name suggests, is centered around the Norfolk Naval Shipyard (the shipyard is able to dry dock an entire aircraft carrier!) and a lot of the city’s economy is based in shipping and transportation. However, because so much of the city’s land is controlled by the military it doesn’t receive as much tax revenue as other cities its size. This can affect local infrastructure to some degree, but it also means many of the city’s residents can receive military discounts on their insurance. So if you’re looking for a lower rate keep that in mind! Shopping multiple options for cheap insurance Portsmouth agents have available can help a great deal.
Facts about Portsmouth:
- Public transportation within the city is run by the region’s Hampton Roads Transit which includes bus service, light rail, ferry and carpool. So there are plenty of options for commuters who want to leave their cars at home. This is becoming more attractive as the area expands and traffic congestion, especially along the bridges and tunnels, becomes more and more common.
- After two decades of slight decline, the city seems to be expanding its population base again, which will lead to premium adjustments.
- There were a little over 200 cars stolen in 2012 which follows a general national decline. Some studies attribute the decline in auto thefts to better anti-theft devices which are increasingly becoming standard across a range of automobiles. Insurance companies encourage this because it saves them money in claims, and they will often offer discounts if you have an anti-theft device in your car.