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Ohio drivers, already facing stiff increases in prices, now are having to deal with inflation on auto insurance that is the highest in a decade. Sticker shock: Ohio drivers seeing historic rate ...
The average cost of car insurance rose more than 25% in 2024, with some states seeing average premium increases of 40% or more, CNBC reported. Learn More: 2 Reasons New Car Prices Will Crash in 2025
Average car insurance rates increased 26 percent from 2023 to 2024. ... You may be asking yourself why your car insurance premium is so high this year. ... While average rates have risen in every ...
The highest-cost state for car insurance in 2023 was Michigan, with an average annual car insurance premium of $5,766. That's almost twice the national average of $3,017, and much more expensive ...
Even U.S. Consumer Price Index (CPI) data found that car insurance rates increased by 21% in the 12-month period that ended in February. This is the most rapid rise in insurance costs since 1976.
Between February 2023 and February 2024, car insurance costs went up by 21%. So for example, a car insurance premium that cost $300 per month in February 2023 might cost $363 per month one year later.
Image source: Upsplash/The Motley Fool. The cost of an average auto insurance policy will rise by 22% in 2024, and residents of some states could see the cost of coverage rise by 50% or more ...
While average full coverage car insurance rates increased by $289 last year, this is less than the $336 jump from 2023 to 2024 — and experts think 2025 increases will be even more moderate ...
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related to: why auto insurance premiums are increasing in ohio state reddit