Why Are Personal Auto Insurance Rates Increasing?
Scott Insurance
FEBRUARY 7, 2023
With very few exceptions, nearly every individual and family in the U.S. is facing higher-than-normal increases to their auto insurance premiums. According to Bankrate , an independent publisher and comparison service, auto insurance in the U.S. costs an average of $2,014 per year, an increase of 13.72% between 2022 and 2023. While individual rates will vary based on each individual’s circumstances and history, there are some general trends that are leading to these increases.
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