Five Reasons Car Insurance Has Gotten So Expensive: QuickTake

The cost of auto insurance in the US rose more than 22% in the 12 months that ended in March, the biggest annual jump since 1976. Rates are up 43.7% since January 2020, making car insurance premiums one of the bigger contributors to high inflation. Here’s why:

1. Cars are more expensive to fix

Today’s cars are packed with high-tech gadgetry meant to entertain, comfort and protect occupants. The array of safety equipment now common on cars includes automatic emergency braking, blind-spot detection and lane departure warnings. To give drivers eyes in the back of their head, automotive engineers have ...