Why Americans will have to budget even more for car insurance in 2023 | JUST THE FAQS

Why are car insurance costs rising? Here's how much more you could pay in 2023.

People are spending more of their money on auto insurance, and that cost is likely to continue growing.

Drivers nationally are spending an average of 2.93% of their income on car insurance this year, based on an average annual premium of $2,014 for full coverage insurance and the national average annual income is $68,852, Bankrate said. That amount rose from 2.57% in 2022 when the average premium was $1,771. And the difference means car insurance rates increased by nearly 14% between 2022 and 2023, compared with an overall rise in yearly inflation of 6.5% in December.

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[keysautorepair]

This is getting ridiculous food gas electricity now car insurance going to starve you out.

[Hiltonliveparanormalnews]

It's always a reason why we are getting. Jerk as Americans we work alot of hours to struggle and just pay bills this is not the American way we can't afford a house, college, groceries, car insurance wtf

[sylviaprasad]

I’m upset. Mercury Insurance Company increased my rate by $600.00 annually and took and will take $300.00 on the first payment every six months.

[srockedguitar]

Every company has their hands in the cookie jar. If you've had no accidents, you shouldn't have to pay for those that do.