Auto insurance prices increasing for third year

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The cost of vehicle coverage will rise by 2.8 percent this year. American drivers are likely to experience yet another increase in their auto insurance rates, for the third year in a row as insurers attempt to increase their profits in a time that interest rates have been held at record lows, and natural disasters have caused costs to skyrocket. The average driver will likely see an increase of 2.8 percent, according to the Insurance Information Institute. This means that consumers who were paying an average of $816 last year…

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