Georgia’s Auto Insurance Rates: Unaffordable and Uninsured, New Study Uncovers Alarming Trends

Georgia's Auto Insurance Rates

Alarming Trends in Georgia’s Auto Insurance: State Ranks Among Least Affordable in Nation A recent report by the Insurance Research Council (IRC), a division of The Institutes, has unveiled alarming trends in Georgia’s personal auto insurance affordability. The report, titled “Personal Auto Insurance Affordability in Georgia,” highlights a significant deterioration over the past decade and a half, positioning Georgia as one of the least affordable states for auto insurance in the nation. With below-average income and above-average auto insurance costs, Georgia has become one of the least affordable states for…

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Auto Insurance Rates Surge Amid Economic Pressures

Auto Insurance Rates Surge Amid Economic Pressures

A Closer Look at the Rising Costs of Motor Vehicle Insurance in the US Motor vehicle insurance, a non-negotiable requirement for drivers across the U.S., has seen a significant surge in costs since 2020. This auto insurance rate increase has been driven by a confluence of economic factors, including inflation and rising repair costs. Between June 2023 and 2024 alone, personal motor vehicle insurance rates rose by an eye-watering 19.5%. A Rapid Rise Outpacing General Inflation The Consumer Price Index (CPI) data from May 2024 reveals that the motor vehicle…

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Georgia auto insurance rates rose faster than in most other states

Auto insurance - Georgia auto insurance rates increase

A new Bureau of Labor Statistics study showed the average amount by which rates rose in the US. The US Bureau of Labor Statistics recently released the results of an auto insurance prices study in which it showed that rates rose 19.2 percent nationally from October 2022 to the same month in 2023. That said, a new study on Georgia rates showed that drivers in that state saw higher increases. The second study was conducted by MarketWatch and showed that Georgia insurance rates increased by 22 percent from 2022 to…

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Nevada holds public webinar to address high auto insurance rates

Auto insurance - Nevada Highway Sign

The state scheduled the webinar to be open to the public to address rapidly rising premiums. The Nevada Division of Insurance recently held a live webinar to provide the public with an opportunity to discuss the rising cost of auto insurance in the state. The event on the subject was held on November 1 and ran from 10:00 am through until 11:30 am. The webinar was meant to address the rapidly rising auto insurance rates in the state, which have been climbing as has been the case across the country.…

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Home insurance rates are consuming more of Americans’ incomes

Insurance rates - Eating money

Auto premiums are also eating into a larger portion of the typical US budget as well. Millions of Americans have been shopping around for better auto and home insurance rates as these monthly expenses continue to consume a larger portion of their budgets in an increasingly expensive world. The challenge is to find the coverage they need without having to sacrifice protection from their policies. Though inflation appears to be slowing down in a number of important categories, providing welcome ease to the rising strain on families doing everything they…

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