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Car Insurance Costs Surpassed $2,300 in the First Half of 2024. The average annual cost of full coverage hit $2,329 in June 2024, a 15% increase from $2,018 at the end of 2023.
While average full coverage car insurance rates increased by $289 last year, this is less than the $336 jump from 2023 to 2024 — and experts think 2025 increases will be even more moderate.
Auto insurance rates have been soaring for years, and 2024 was no different. Insurify reported this week that the price of car insurance premiums climbed 15% last year, with American drivers now ...
In 2023, average wage growth was 638% lower than the increase in auto insurance premiums. Increasing deductibles and decreasing coverage limits are the most common cost-cutting measures among ...
Average car insurance rates increased 26 percent from 2023 to 2024.
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.
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