Auto Insurance Costs Rising

Auto insurance rates are going up in a lot of states and dropping in others. Five PIA Western Alliance states — Hawaii, Montana, Nevada, Washington and Idaho — find themselves in the top-10 states with the biggest increases this year.

One of the reasons for increases go from the growing cost of vehicles and parts. The prices of new autos are up 40% from 2020. Used car prices are also skyrocketing. Medical bills are higher for injuries caused in crashes. They’re up about 15%.

According to Freeway Insurance, these are the 10 states seeing the highest increases. The PIA Western Alliance states have asterisks following their names:

1. Vermont — 27% increase

2. Hawaii — 14% increase — ****

3. New Jersey — 9% increase

4. Kansas — 8% increase

5. Montana — 8% increase __ ****

6. Georgia — 8% increase

7. Nevada — 6% increase — ****

8. Washington — 6% increase — ****

9. Maine — 6% increase

10. Idaho — 5% increase — ****

Source link: PropertyCasualty360.com — https://bit.ly/4xHQmFs