Why auto insurance rates are skyrocketing in the U.S.
Publishing timestamp: 2024-03-23 08:00:02
Summary
Car insurance premiums in the US have risen significantly in 2024 due to factors like longer repair times and more expensive rental car costs. This has led to all insurers increasing premiums, making it difficult for consumers to find lower rates. This spike in auto insurance rates is impacting both consumers and large publicly traded companies like Allstate, Progressive, and Berkshire Hathaway's Geico.
Sentiment: NEGATIVE
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Source: https://www.cnbc.com/2024/03/23/why-car-insurance-rates-are-increasing-in-the-us.html