Tag: auto insurance pandemic

This year to be a period of auto insurance rate increases

Marc
Auto Insurance rates - not affordable

After years of rising price trends in much of the country, 2024 is likely to continue the trend The price of everything appears to be continuing to rise, and many experts predict that auto insurance rates will be among those increasing prices consumers must face. Coverage since the pandemic has steadily become more expensive The cost of auto insurance depends on several factors, including everything from an individual’s driving record to the type of vehicle they drive, and a number of other elements depending on the state in which they…

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Auto insurance challenges expected to ease, says S&P US report

Logan B.
Auto insurance - Woman sitting in car, frustrated

Though rates have been rising sharply during the pandemic recovery, that trend will level out. According to the S&P Global Market Intelligence US Auto Insurance Market Report, private insurer results are expected to improve from where they stood last year, when the combined ratio of 112.2 percent was the worst seen in decades. That said, according to the report, the improvements won’t occur as quickly as the industry had hoped. The private auto insurance results are still expected to improve, though not as fast as was previously predicted. “The post-pandemic…

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