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New data out on Wednesday from the Bureau of Labor Statistics showed auto insurance costs last month were 22.2% higher than they were a year ago and increased from February's 20.6% year-over-year ...
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.
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.
Now let's look at why auto insurance rates keep going up -- and how drivers can take matters into their own hands to try to get cheaper car insurance in 2025. 1. Driver's credit score
Drivers could continue to see higher car insurance rates in 2024, with the average U.S. rate projected to jump 22% this year. ... with a new report forecasting that auto insurance — one of the ...
Inflation is cooling after a hot start to 2024, but it's still higher than policymakers would like. One culprit: The cost of auto insurance. Consumer Price Index data released Wednesday showed U.S ...
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