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New Study Reveals Over 20% Rise in US Car Insurance Costs

A new CheapInsurance.com study published on May 21, 2025 in Los Angeles reveals that US car insurance costs have surged more than 20% since 2020.
The surge in costs results from a combination of increased accidents, higher repair expenses, and more frequent vehicle thefts across the country.
The report highlights regional disparities with Louisiana showing higher average insurance prices than New York and annual full coverage costs surpassing $2,000 in some areas in 2024.
Fausto Bucheli, Founder and President of CheapInsurance.com, noted that while car insurance prices are rising, customers who stay informed and actively compare options can still find ways to reduce their costs.
The rising costs disproportionately affect lower-income households, who now shop for new insurance quotes every 6 to 12 months, compared to every 2 to 3 years before the pandemic.

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New Study Reveals Over 20% Rise in US Car Insurance Costs

A new CheapInsurance.com study reveals a 20%+ surge in US car insurance costs since 2020, impacting consumers across income levels; discover key factors driving the increase and learn how to save money with proactive comparison shopping and policy adjustments.

3 days ago

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