The recent Bankrate study shows that the national average cost of car insurance has hit an all-time high. Drivers in the US are paying an average of $2,543 per year or $212 per month for car insurance, which is a 26% increase from 2023. According to Dan Kiesle, the insurance director of AAA Hoosier Motor Club, this increase is due to inflation and rising labor and car prices. The average cost of auto insurance in Indiana increased by 0.45% to $1,634 per year in 2023.
“That 25% is pretty accurate here in Indiana, too.” said Dan Kiesle, the director of insurance for AAA Hoosier Motor Club. “It’s the sign of the times. It’s inflation. The labor rates are up to fix cars. If you need to buy parts to fix cars or buy a car altogether, they’re just more expensive.”
The Bankrate report said the average price for auto insurance in Indiana was $1,634 a year, which is a 0.45% increase from 2023.
“These come in cycles in our industry. It happens every eight or 10 years. This one has gone on a little longer than usual, but the pandemic was anything but usual, right? So. we still have a hangover from that,” Kiesle said.
2 comments
I wonder how many honest law abiding driver that are paying through the nose for car insurance are being literally held at gunpoint because of uninsured drivers. It seems nearly daily we see stories about illegal immigrants driving around with no license or insurance, not to mention scofflaw citizens. They come here illegally and think they do not have to obey the laws. Perhaps Dopey King Joe, The Chicom Agent Provocateur and Idiot of Brandonville can add car insurance to his free phone and app, and credit cards he passes out by the millions.
When will we have enough of this theft of our money?
Can you think back to a time when none of this was happening?
Spot on, and also we’ve been running the printing presses at the Fed for years and years now. If you double the amount of dollars, then each dollar is only worth half as much.
That’s a big factor behind prices being through the roof for groceries, homes, and even insurance.