US auto insurance coverage prices surge – report

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According to a new report from insurance comparison platform Insurify, auto insurance costs in the US rose in 2021 from 2020 onwards.

In its second annual Insuring the American Driver report, Insurify analyzed more than 40 million auto insurance offers across America to uncover the latest trends in the industry and driving behavior. The report also examined how the pandemic affected each of these areas.

The report found that auto insurance prices rose 12% from 2020 to 2021. The average American driver pays $ 1,633 a year for coverage; Insurify predicts the price will rise another 5% to just over $ 1,700 in 2022.

Insurify also looked at the current rates of reckless and aggressive driving behavior, which had increased during the COVID-19 pandemic, according to the insurance comparison site. Traffic-related deaths per mile driven increased by 26% between March and May 2021 compared to the same period in 2019 and only 3% lower than in 2020.

The report suggests that the increase in cases of aggressive driving continues even after the COVID restrictions are lifted.

“With inflation above 5%, rates returning to pre-pandemic levels and increasing collisions, there are many factors that are driving car insurance prices higher,” said Kacie Saxer-Taulbee, Head of Research and Content at Insurify. “Even if you leave the economic factors aside, drivers express a clear difference in their experience on the roads in 2021: 38% said that they drive more often and 44% more aggressively.”

Further results of the report were:

  • Aggressive drivers pay, on average, 25% more for car insurance than those with clean records.
  • 44% of motorists experienced more aggressive driving on the roads in 2021
  • 38% of drivers said they will drive more cars in 2021 than in 2020
  • 41% reported an increase in their car insurance premiums compared to the previous year
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