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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 ...
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
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.
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.
Average car insurance rates increased 26 percent from 2023 to 2024.
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 ...
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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