It’s no surprise to drivers around the country, auto insurance premiums are on the rise. Many drivers are facing double digit increases and as inflation slows down many drivers wonder why their rates have increased.
The answer is for the simple reason that the cost of the things that auto insurance pays for has been rising faster than premiums. This is exacerbated by inflation trends, legal system abuse, and in some states, regulatory uncertainty.
David A. Sampson, president, and CEO of the American Property Casualty Insurance Association (APCIA)
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