auto insuranceinflationeconomic impactAuto insurance prices in the U.S. have soared, contributing significantly to inflation, with average rates increasing 43% over recent years.
The article discusses a significant increase in auto insurance prices, with an average 43% rise over the last few years, driven by factors like the rising cost of modern vehicles, the increased sophistication of vehicle technology, and higher claims severity. This surge has contributed notably to overall inflation, impacting consumers and signaling no imminent end to rising costs.