Rebecca Long is one of those people. The mom with three vehicles in her household doesn't know how she'll afford the huge increase in her auto insurance. "It is increasing almost $900 for the next six months," she said. "I honestly thought it was a mistake." But it was no mi...
Auto insurance premiums are influenced by your driving record, inflation, and other factors. Here are tips for saving money.
The cost of auto insurance in Massachusetts has soared by almost 38 percent since the beginning of 2022, climbing at a pace that is more than double the already elevated rate of consumer inflation for the same period. Last year, the seven largest insurers in the state upped their rates...
What happens if I don’t pay my auto insurance premiums? Should you be unable to pay your auto insurance premium or you forget, your insurance policy will lapse, meaning you won’t have coverage. Proof of insurance is required in all states, so if you get caught, you may get fined. ...
Auto insurance premiums are on the rise - again! Michael Barry with theInsurance Information Institutesays premiums seem to go up on average 6% to 8% every year. He says a number of factors are playing into rates going up, including the fact that many cars are simply more expensive to fix...
NEW YORK - Automobile insurance rates are rising sharply across the country, continuing a five-year trend.In a few states, premiums for private passenger cars are increasing so fast that the public is protesting vocally and sometimes dramatically.Why is insurance so costly? For one thing, ...
According to Greg McBride, Chief Financial Analyst at Bankrate, “With inflation running at 40-year highs, auto insurance premiums will also be pushed higher, in part reflecting the higher costs to repair and replace vehicles.” Increased costs for insurance companies are then shifted over to poli...
This trend has been driven in recent years by increasing insurance premiums that motivated consumers to shop for lower rates. However, for the first time since December 2021, the month-to-month Consumer Price Index for Motor Vehicle Insurance decreased—a 0.2% drop that occurred between April 202...
Major rating factors for determining private passenger auto premiums include:individual driving record; rating territory of driver's residence; age and marital status; number of miles typically driven; driver education; good student discount; insurance score; number and types of cars owned; length ...
New numbers out on Wednesday show prices on all items rose about 3% year-over-year last month. But car insurance prices jumped a whopping 20%.