Auto insurance premiums have risen faster than nearly every other common consumer cost, and painful price hikes are likely to continue in 2024.
The consumer price index (CPI) shows that auto insurance prices are up 19.2% in the past year, far outpacing the overall inflation rate and exceeding the inflation rate for pretty much any other significant spending category.
Auto insurance costs have climbed because car prices shot up during the pandemic, and dangerous driving behavior…
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