"Rising Auto Theft and Carjacking Drive Soaring Car Insurance Premiums Nationwide"

1 min read
Source: Fox Business
"Rising Auto Theft and Carjacking Drive Soaring Car Insurance Premiums Nationwide"
Photo: Fox Business
TL;DR Summary

Auto insurance premiums in Washington, D.C., have surged due to a significant increase in carjacking and auto theft, with residents paying 37% more than the national average. The surge in carjackings and thefts has led to a 97.9% increase in carjackings and an 82% increase in motor vehicle theft in 2023. The rise in premiums is attributed to insurers addressing potential losses in high-risk areas, and some insurers may offer discounts for vehicles with anti-theft systems to help offset the increases.

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