Auto Insurance Surge Triggers Inflation
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•Auto insurance costs have soared 50% over 3 years | Creditnews
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 .
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80
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