Auto insurance is one of many household expenses that Americans can anticipate paying more for this year, and rates could increase by 50%.
Full-coverage premiums increased by 15% in the first half of the year, despite predictions from experts in the industry that increases in insurance prices would slow down.
The average cost of auto insurance in the United States has been steadily rising since 2021, according to a recent report from the insurance comparison website Insurify. By the end of the year, the estimated cost of insurance is expected to rise to $2,469.
Prices for auto insurance are expected to rise by more than 50% by the end of 2024, making Californian drivers one of the hardest hit, report revealed.
