Car Insurance Premiums ready to Increase by 22 Percent

By Ayush yadav August 19,2024

Buckle up for a shock when you renew your car insurance. 15% increase in the first half of 2023 and 22% by the end of the year.

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In 2022, rates went up 24% for American drivers. According to Insurify $2,329 is the average full coverage. But in some states it’s over 40% more.

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Maryland is #1 when it come on insurance cost with $3,400. By 2024 it will be $3,749.

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Maine and Vermont are good too. And on the plus side, California, Missouri and Minnesota could go up over 50% in 2024.

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There are several reason contributing to these increases

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The upward trend in new car prices, the high costs of repairs,

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Post-pandemic rate adjustments in California have led many companies to raise premiums to maximize profits.

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