"2024 Sees 26% Surge in Car Insurance Rates Across the US"
TL;DR Summary
A new report from Bankrate reveals that car insurance premiums in the US have surged by 26% in 2024, reaching an average of $2,543 annually. This increase means that Americans now spend around 3.41% of their income on car insurance on average. Factors such as population density, driving habits, extreme weather, driving history, vehicle type, and credit history all contribute to the rising costs. Detroit has the highest net average cost of car insurance, while drivers in Seattle spend the lowest percentage of income on car insurance.
- Car insurance rates in 2024 jump 26% across the US, report says Fox Business
- Car insurance rates jump 26% across the U.S. in 2024, report shows Yahoo Finance
- Why the cost of car insurance is skyrocketing in the DC area WTOP
- The True Cost of Auto Insurance in 2024 Bankrate.com
- As car insurance costs surge, here's why your credit score may be partly to blame CNBC
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