Car insurance rates on the rise in U.S. as industry catches up with inflation

Consumers are seeing an alarming rise in car insurance rates. According to a recent study, the average cost for full coverage is over $2,000 a year nationwide, an increase of nearly 14% from last year. Bankrate analyst Cate Deventer joined "CBS News Mornings" to discuss.

#news #carinsurance #inflation

[indiason]

Why the heck are you, CBS, giving insurance companies cover for raising prices? This is nonsense. When do rates ever decrease?

[alozano]

Thank you Legacy Media for Joe Biden he is certainly helping the people with his great economy and making the corporations less profits. 🤣🤣🤣

[spiderdx]

I have standard coverage for 4800 a year

[exposingthetruth]

'People's take home pay is higher than ever before'
-yet the percentage left over and value it hold is gone...
Thanks Joe..

[financialconnectioninc]

25% of cars in Florida are uninsured. That shifts the burden and costs to the other 75%. The government refuses to enforce the insurance mandate. A system of mandatory insurers reporting cancellations to the state and plate readers which would flag the uninsured vehicles and lead to instant police enforcement with impounding and large fines would largely cure this problem.

[OItsSasha]

Can I just go without car insurence? I mean I haven't had a claim in over 15 years.