Car insurance rates surge 19% due to inflation, extreme weather, and distracted driving. Strategies to control costs.

Auto Insurance

Car insurance rates surged over 19% in the past year, the largest increase since 1976.

Inflation is a major factor, impacting repair costs, parts, and labor expenses for insurers.

Extreme weather events contribute to higher payouts for insurers, leading to increased premiums.

Distracted driving, fueled by smartphones and digital distractions, has led to more accidents.

Families struggling financially may choose to go without insurance, but it's illegal and risky.

Uninsured drivers contribute to higher premiums for insured drivers in case of accidents.

The outlook for 2024 is mixed, with uncertainty about whether rates will continue to rise.

Experts suggest shopping around and comparing auto insurance quotes to find affordable options.

Bundling home and auto insurance can lead to discounts, simplifying insurance management.

Inquiring about potential discounts and maintaining a good driving record can also help control premiums.