Tag

Car Insurance Rates

All articles tagged with #car insurance rates

"Gas Prices Hold Steady Amid Decreased Demand, But Expected to Rise Soon"

Originally Published 1 year ago — by Fox Business

Gas prices have remained relatively stable at an average of $3.10 per gallon, with low demand attributed to the winter season and slightly higher oil prices. Some states have seen significant price changes, with Florida and Washington, D.C. experiencing the largest increases. Meanwhile, car insurance rates are on the rise, with premiums expected to increase by an average of 12.6% in 2024. Drivers can potentially save on insurance costs by comparing rates, and the number of electric vehicles qualifying for tax credits has decreased to 13.

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"Unprecedented Spike: The Surprising Reason Behind the Largest Car Insurance Rate Increase in Nearly Half a Century"

Originally Published 2 years ago — by CNN

Car insurance rates in the United States have seen their largest annual increase since 1976, with Florida being hit particularly hard due to the increasing prevalence and destructiveness of extreme weather events. Insurance companies are raising rates or pulling out of states prone to such weather to cover the higher losses from increased claims. Factors contributing to the rate increases include rising car prices, repair and medical costs, riskier driving behavior, and the impacts of Hurricane Ian. Additionally, reinsurance companies are pulling out of the market or raising rates, leading to increased costs for customers nationwide.

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