Towards a 12.6% increase in US motor insurance rates

The insurance aggregator ValuePenguin.com is forecasting a 12.6% rise in US motor insurance rates in 2024, compared with an 11.2% increase in 2023.

American motorists would now have to pay 1 984 USD per year to insure their vehicles.

This price hike can be attributed to a number of factors, including rising repair costs, the growing number of motor claims and car thefts.