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Auto insurance costs have soared 50% over 3 years | Creditnews

Creditnews
Summary
Nutrition label

71% Informative

The average cost of auto insurance in the United States has reached a record $2,329 per year.

It marks a 50% increase over three years , the largest since 1975-1978 .

By comparison, the three-year change in auto insurance rates was less than 5% in early 2022 .

Rates began to spike in the second half of 2022 before accelerating further in 2023 .

VR Score

78

Informative language

80

Neutral language

62

Article tone

semi-formal

Language

English

Language complexity

51

Offensive language

not offensive

Hate speech

not hateful

Attention-grabbing headline

not detected

Known propaganda techniques

not detected

Time-value

short-lived

External references

no external sources

Source diversity

no sources

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