Why Car Insurance Rates Are Skyrocketing In The U.S.

DO NOT Install a driving tracking device in your car!! They sell your data (your driving habits, distance, frequency, braking, acceleration, etc) to Lexus Nexus who then sells your risk data to all the auto insurers. You hard brake or accelerate beyond what they deem acceptable, you will permanently be penalized by nearly ALL insurers. They pitch it as a discount or training device, but they fail to tell you they will sell the data.

My Home and Auto package went up 35% this year. No tickets, accidents, claims or credit drop. This is what you get for being responsible.

Car insurance is an absolute scam. You pay thousands each year, with claiming rates, and they make it as hard as possible to get paid out when needed.

When insurance companies have lobbyists, your complaints fall on deaf ears.

our entire families auto insurance doubled over the last two years. No accidents, no tickets. To say I’m livid is an understatement. Auto insurance industry needs to be investigated. I’m tired of this nonsense.

Biggest scam in America is insurance, be it auto, home or health.

Gov will never do anything about this. Politicians and lobbyists made sure this entire country was car dependent and now they take money from these insurance.

FICO score should have NOTHING to do with your car insurance rate. Accidents and tickets or DUI should drive your insurance rate, not your credit score. This is something the government needs to tackle. Credit scores should be used when you need a loan. Apply for a credit card, home loan, or any form of financing. Not your water bill, utilities, or insurance.

It's so ironic because in the US cars were seen as extensions of freedom. Now they are the third largest form of debt with sky-high insurance rates even for people driving safe practical family cars with no accidents or tickets. What is more galling is the fact that everyone can't just not drive a car. We have such car dependency that you literally can't function without one

The answer can be found here. Progressive's net income in 2023 was $3 billion 864 million, more than five times higher than in 2022. In 2022, their profits were $695 million. The situation is similar with other companies in the auto insurance industry. CNBC will definitely tell you how much money the insurance companies paid, but never tell you how much their profits have increased😊

In places like Florida, at least 50% of drivers have no auto insurance. My elderly mother’s car has been crashed into 3 times and each time the driver drove off (bc of no auto insurance) and people had to help my mother. Police did NOTHING. Floridians now have to pay the crooked insurance companies a premium specifically if they are hit by an “uninsured” driver. So what does that tell you? The law abiding citizens are being screwed by insurance companies. A month ago, my brother’s car was totalled by an uninisured driver who had multiple suspensions on his licence. Police did nothing. My brother has to buy a new car and, of course, his premiums went up. But the uninsured driver walked away with no consequences.

Engaging with books has significantly elevated my perspective on investing. True wealth isn't built through mere savings; financial freedom stems from strategic investments. I've learned that accumulating wealth hinges on making prudent investment decisions.

Insurance is federally required and insurance companies are profit seeking. It's not rocket science why rates are going up

The auto insurance companies saw the health care insurance companies' profits and said to hold my beer.

The problem.... Are too many scams. My dad hit a woman's car so, but so soft that barely scratched her car. She came out screaming and making a scene. She got $15k for that. That's just ridiculous!

4 people 4 cars is a testament to the complete failure of urban planning in the US (and not only).

When there is no alternative to driving your car to get around, these insurance prices are a crippling punishment rather than an expense for freedom. Oh, and conveniently the dividend payouts are up again on the stocks for these insurers, so don't forget that in the "cost calculations".

Not only car insurance, but homeowners’ insurance also. It’s absolutely insane.

The whole system is corrupt. From the auto insurance industry to auto bodyshop industry, don’t forget the politicians.

Driving is such a pain these days. From distracted drivers, road rage, to LED headlights, I stay home as often as possible.