Car insurance rates are surging as Americans struggle to pay for basic necessities and ongoing debt.
The newest Consumer Price Index shows car insurance spiked 20 percent year over year. The surge in pricing occurred after years of gradual price inflation, with earlier reports finding the rates grew by 36 percent since 2020.
That’s at the same time debt is soaring for many Americans. While Americans hold around 1.75 trillion in student debt loans alone, they also have $1.05 trillion in credit card balances not paid off.
I’ve been with State Farm for 20 years. Actual agent I have met with a few times. Have had one or two claims over the years and they worked with me pretty reasonably. My rates have never “jumped” but have had what I’d consider some minor bumps over the years. Of the many companies I’ve dealt with, they’re one that has at least not given me a huge headache.
I don’t have anything to do with them other than being a client, and mileage always varies, this is just my experience. I call out a lot of shitty companies, seems worth letting others know if one isn’t terrible. (Also, I live in a major metro, no idea what it would be like someplace else.)
Same, I’m with State Farm and meet with my agent every few years to make sure my coverage makes sense. The last time I met with her she was able to get me better coverage for what I need at a lower monthly cost. My rates have gone up and down a little over the years, but nothing major in either direction.