Car Insurance Rates Surge Across The Country

CHARLOTTE, N.C. – Car insurance rates continue to skyrocket. 

Rates are up an average of 20%, marking the highest rate jump since 1976.

Car insurance premiums alone contributed half a percentage point to the overall 3.2% inflation rate last month.

Officials say the cost to repair a car is up 6.7% for the year.

Now, the number of traffic deaths in the United States is also rising, with insurers logging losses on 27% of collision claims in 2022. This is three points higher than 2021.

Insurance rates vary from state to state. North Carolina had the lowest at just 5.5%.