Drivers across the country have seen car insurance rates climb by 5%, 10% or even 20% in 2023. How high will rates go? What’s causing such a steep increase? And lastly, is there anything you can actually do to lower your rate?
Inflation is driving up car insurance rates
Everything has gotten more expensive since 2021. Gas prices passed $4 per gallon for the first time in 15 years and peaked at more than $5 per gallon. Food prices climbed 11.4% in 2022 compared to 2021. And auto…
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