Tag: insurance
-
As car prices drop for U.S. buyers, soaring insurance costs become a new challenge
A different type of shock has hit American car buyers like Darin Davis. When renewing the insurance on his 2024 Cadillac XT4 in January, the rate nearly doubled for the 56-year-old Dallas real estate agent who had purchased the car just a few months earlier. “Paying so much money takes away the enjoyment of owning…
-
Why car insurance costs are rising at the fastest rate in 47 years
As car prices moderate from a pandemic-era surge, insurance has pushed the cost of car ownership to the brink for many Americans. New data out on Wednesday from the Bureau of Labor Statistics showed auto insurance costs last month were 22.2% higher than they were a year ago and increased from February’s 20.6% year-over-year gain….