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Between February 2023 and February 2024, car insurance costs went up by 21%. So for example, a car insurance premium that cost $300 per month in February 2023 might cost $363 per month one year later.
The national average cost of full coverage car insurance climbed 26 percent from 2023 to 2024, leaving many drivers wondering why coverage has gotten so expensive.
According to one report, full coverage auto insurance rose by 26% in 2024 for the average driver. Even U.S. Consumer Price Index (CPI) data found that car insurance rates increased by 21% in the ...
New data out on Wednesday from the Bureau of Labor Statistics showed auto insurance costs last month were 22.2% higher than they were a year ago and increased from February's 20.6% year-over-year ...
1. Maryland. Average annual cost of full coverage: $3,400 Percent higher than the U.S. average: 46% Projected average rate increase in 2024: 41% Maryland drivers pay the most for full-coverage car ...
According to Bankrate’s 2025 True Cost of Auto Insurance report, the average cost of a full coverage car insurance policy went up $625 — or $26 per month — from January 2023 to January 2025 ...
Auto Insurance Premiums Have Been on a Joyride to Hell. According to the Bureau of Labor Statistics, auto insurance premiums in 2024 have increased by a whopping 20.6% year-over-year. That's right ...
The increase comes after auto insurance premiums grew at an “unprecedented rate” of 7.9% in 2022 and 5.9% in the first six months of this year, the report said. Add to that still high ...