{"id":46611,"date":"2023-11-13T16:30:07","date_gmt":"2023-11-14T00:30:07","guid":{"rendered":"https:\/\/getjerry.com\/?p=46611"},"modified":"2025-07-08T10:57:32","modified_gmt":"2025-07-08T17:57:32","slug":"fastest-rising-car-insurance-in-decades-squeezes-consumers","status":"publish","type":"post","link":"https:\/\/jerry.ai\/studies\/fastest-rising-car-insurance-in-decades-squeezes-consumers\/","title":{"rendered":"Fastest-Rising Car Insurance in Decades Squeezes Consumers"},"content":{"rendered":"\n

There is plenty more pain ahead for American drivers. The rise in car insurance rates hit a four-decade high in October, reaching nearly 20% annually, even as overall inflation cooled<\/a>.<\/p>\n\n\n\n

Car insurers are still playing catch-up with rate hikes. Many suffered huge losses<\/a> resulting from a surge in severe accidents and more than two years of elevated inflation. They\u2019ve been asking for and receiving state regulators\u2019 approvals for rate hikes. The latest data show there\u2019s little reason to think the increases will stop anytime soon.<\/p>\n\n\n\n

The price of car insurance is already taking a heavy toll on drivers. Three quarters of Americans say car insurance is becoming unaffordable for the average person. More than half say high premiums have forced them to cut spending in other areas.<\/p>\n\n\n\n

Key Insights<\/h2>\n\n\n\n