Having a car is getting more expensive for drivers across the country as auto insurance premiums continue to soar. According to a new Bankrate report, U.S. drivers are paying an average of $2,543 annually, or $212 per month, for car insurance — an increase of 26%...
One insurance rate expert said that in 2023car insurance ratescould feel some additional impact from climate change. "If climate- and weather-related auto insurance claims increase, insurers will likely hike rates," Laura Adams, an award-Winning financial author, podcaster and spokesperson, said. "...
Having a car is getting more expensive for drivers across the country as auto insurance premiums continue to soar. According to a new Bankrate report, U.S. drivers are paying an average of $2,543 annually, or $212 per month, for car insurance — an increase of 26% from las...
Car insurance prices are rising, and could continue to rise in the year ahead. In Texas, in fact, some providers are planning hikes of about 20%.
The average cost of auto insurance increased by 9% to $1,777 per year in 2022, according to a recent report by Insurify. And it expects the rate to increase by another 7% to $1,895 in 2023. If you are interested in saving money on your car insurance, you could consider changing ...
Just in the past year, Americans spent an estimated 20 percent more on car insurance than they did in 2022—the largest such increase since 1976. Among the roughly 200 categories the BLS tracks, car insurance had the highest yearly increase of any expenditure. Only frozen noncarbonated juices...
was 0.02 percent or higher, you could face even more penalties, and if it’s a repeat conviction, you’ll have to use aDUI interlockfor two years. The average rates for car insurance increase by 80 percent for drivers with DUIs, according to ourresearch on DUIs and car insurance. ...
"As much as people are being impacted by the increase in their insurance costs, it's still not enough for insurers to cover their losses," Rieder said. "Auto insurance has become an unprofitable business for most companies." Despite the forces pushing rates up, the pace of increases is exp...
» MORE: How much does car insurance increase after an accident? Mileage Low-mileage drivers often get cheaper car insurance, because less time on the road means fewer opportunities for an accident. Low-mileage drivers may also save by choosing pay-per-mile insurance, which tracks how many ...
Car insurance firms increase profits by 26%Laura Slattery