The Six Biggest Factors Causing Americans’ Car Insurance to Skyrocket

The Six Biggest Factors Causing Americans’ Car Insurance to Skyrocket

Are you paying higher insurance premiums than ever before? Are your rates increasing by more each year? You’re not alone, and you’re not wrong. The average insurance cost for cars in 2024 was 33% higher than they were in 2021, far beyond inflation. Key Points Insurance companies have a bigger incentive to make money than to provide fair coverage, and this will always lead to higher insurance premiums. An increase in car thefts, climate change…

‘Not just tariffs’: Some Canadians want rising insurance rates, natural disasters to become election issues

Some Canadian home and vehicle owners believe rising insurance rates have gotten out of control — and they’re upset there’s little talk in Ottawa about what can be done.

Impacts of rising costs and claims on personal automobile insurance profitability and consumers in Canada

This study delves into the contributing claims and cost factors that have impacted the premiums consumers pay for auto insurance and the financial pressures insurers face. The engine type, brand name, and location of the vehicle have contributed, in addition to the overall rising cost of repairs, parts, and the vehicles themselves. Coverage types, and provincial regulation have also impacted both insurers and consumers alike, disproportionally im