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From 2020 to 2022, the average cost of a new vehicle increased by 19% and repair costs increased by a similar percentage, so it makes sense that this would be factored into insurance prices.
The insurance company will not pay more than $25,000 for property damage in repairs to the vehicle that the insured one hit. In the state of Indiana, the minimum liability limits are $25,000/$50,000/$10,000, [7] so there is a greater property damage exposure for only carrying the minimum limits.
One of the lesser discussed fees of car ownership is auto insurance, which is mandatory in almost every state. These fees can really dig a hole in your budget and are more cumbersome than ever as...
Insurance carriers commonly consider anything over 18,000 per year high mileage use, which can drastically increase the rate of your car insurance. The national average car insurance rate is ...
Rising car insurance costs coincided with more people returning to work -- and to the roads -- in the aftermath of the COVID-19 pandemic. With the lofty price of cars, their maintenance and their...
The goal of the no-fault changes was to lower premiums for drivers and, thus, make car insurance more affordable. However, Michigan’s average annual auto insurance rates are still the highest in the country - and Detroit has the highest rates of any city in the U.S. [13] Additionally, Michigan's no-fault reforms reduced compensation to some ...
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