Car insurance premiums increased an “unprecedented” 14% in 2023

Mercedes-Benz EQS SUV and EQA crash testCar insurance premiums rose an “unprecedented” 14% in 2023 as insurers sought to boost profits, according to a 2024 LexisNexis U.S. Auto Insurance Trends Report. Insurance premiums have been creeping up since drivers returned to the road en masse following the loosening of pandemic-related restrictions in 2021, the report noted. But last year’s…

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