Insurance costs keep climbing, here's why and who's hurting

For those drivers worried about paying the exorbitant increases in automobile insurance premiums, reading a recent Washington Post story won’t help to lower the prices. But it may be something of a comfort to realize that lots of people are paying as much — or more — than you are.

The Post’s detailed report, titled “Drivers squeezed as auto insurance costs soar across the US,” is packed with facts and figures showing that rising rates are affecting hundreds of thousands of American drivers, with some states seeing increases above 50 percent in the past year.

“Premiums have kept climbing even as other types of inflation have cooled,” reads the piece. “According to the Bureau of Labor Statistics, car insurance for U.S. drivers in July was 16 percent more expensive than in July 2022, and 70 percent more expensive than in 2013.”