Car Insurance Premiums Surge in 2024 Car insurance premiums skyrocketed by an average of 26% in 2024, pushing the national average cost for full coverage to a staggering $2,543 per year. This marks a significant rise from $2,014 in 2023 and $1,771 in 2022. Several factors contribute to this surge: The Bureau of Labor Statistics notes that while overall annual inflation was 3.2%, car insurance rates spiked 20.6%. States differ in rate increases, with New Jersey and Missouri seeing hikes of 45.69% and 44.16%, respectively. Florida and California remain among…
Read MoreCar Insurance Costs Explode in 2024 with an Overall Jaw-Dropping 26% Hike
