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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 ...
The increase in natural disasters spills over to insurance companies, which pay out claims for weather-related damage to cars. A spike in claims correlates directly to rising premiums.
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.
Auto insurance rates have been on the rise. 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 ...
There's some bad news ahead for the nation's car owners, with a new report forecasting that auto insurance — one of the biggest drivers of inflation this year — will continue to rise in 2024 ...
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. ... If you are in the market for a new car, ...
Auto Insurance Premiums Have Been on a Joyride to Hell. According to the Bureau of Labor Statistics, auto insurance premiums in 2024 have increased by a whopping 20.6% year-over-year. That's right ...
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