American motorists are spending less on fuel than a year ago, but any savings are likely being gobbled up by soaring car insurance premiums. Although prices at the pump in December were nearly 2% lower than a year ago, auto insurance rates jumped 20% over the same period, Labor Departmentd...
Things have since improved for car owners — except when it comes to insurance bills. Car insurers are still raising prices steeply: The price of motor vehicle insurance rose more than 22 percent in the year through April, the fastest pace since the 1970s, according to a report the Bureau ...
Many Americans continue to get notified that theirhome insurance premiumsare going to be more expensive. These increases are due to many factors, including rising building material costs, continuing supply chain issues and ongoing labor shortages, according to the Insurance Information Institute, the le...
young adults who have stayed on their parents’ insurance,” she said. “People can’t be denied coverage because they’re sick. Those are pieces of the Affordable Care Act that are very much benefiting consumers.”
Market Factors Impacting the Rising Cost of Insurance If it’s any consolation, you’re not the only one feeling the pain of insurance premiums going up. Home insurance rates are up about 23% just in the last year, according to data from Quadrant Information Services. In the U.S., car ...
Car insurance is required by law nearly everywhere in the United States — but as insurance premiums climb, it’s easy to question why drivers are required to invest in coverage. Mandatory car insurance laws first appeared in the 1920s to combat the rising cost of car accidents and incentivize...
Rising costs Rising costs from inflation don’t just impact people — they impact insurance companies, too. And the multi-year spike in car prices and repair costs means many insurers must increase rates to keep up with more expensive payouts. » MORE: Why are car insurance rates going up...
On top of this, OB-GYNS also deal with the added stress of lawsuits and rising malpractice insurance. OB-GYNS are the second most frequently sued class of physicians in the country, resulting in exorbitantly high malpractice insurance rates, according to a Medscap...
There is a long list of reasons a person’s premiums may go up. Higher speed limits are linked statistically to higher rates of traffic fatalities. If your state or region raises its speed limits, your car insurance premiums may increase shortly after. Not only that, but rising medical costs...
Recent research by the World Bank has alsodebunked the ideathat higher speeds drive economic growth. On the contrary, it shows slower speeds reduce the massive costs ofroadcrashes—not just obvious ones like ambulance rides and hospital bills, but hidden ones such as rising insurance premiums and...