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Auto insurance costs jump 8.4% this year: motorists with tickets and Teslas among the worst hit

Auto insurance premiums are up 8.4 percent to average $1,780 this year — the biggest increase in six years, which a study says is being driven by rising costs for parts and repairs.

According to the report, drivers in Michigan, Florida and Rhode Island are paying well above average charges, as are those with a record of driving violations and owners of Teslas and other fancy electric vehicles.

Divya Sangameshwar, insurance expert at ValuePenguin.com, the consumer spending website that published his findings On Monday, it said insurers had kept interest rates low for the past two years, but 2023 was a different story.

“This year’s increase in auto insurance rate is the highest rate since 2017,” Sangameshwar said.

Drivers in 45 states will see a premium jump of at least 1 percent. The largest migrations involve Illinois, Arizona, and New Hampshire

Auto Insurance Premiums Are Expected To Rise 8.4 Percent This Year To An Average Of $1,780 - The Biggest Increase In Six Years

Auto insurance premiums are expected to rise 8.4 percent this year to an average of $1,780 – the biggest increase in six years

The average American motorist will pay $1,780 this year, but those in some states will be injured far more.

Those in Michigan will spend an average of $4,788, which is well above the national average due to the state’s strict minimum insurance requirements. Floridians pay $2,856 and those in Rhode Island pay $2,748.

Drivers in 45 states will see a premium jump of at least 1 percent. The largest increase is in Illinois (17 percent), followed by Arizona (15.6 percent) and New Hampshire (13.6 percent).

Those with records of traffic violations and accidents will see premiums increase by more than half, researchers say. Those with speeding see an average increase of $2,194, while those with DUIs pay an extra $3,281.

People who drive crossover SUVs like Honda’s CR-V or Toyota’s RAV4 are among the best deals since they’re usually cheaper to repair and replace than other cars. Pickups and larger SUVs cost more.

Still, owners of top-of-the-line electric cars are among the hardest hit. Porsche Taycan drivers are paying an average of $3,576 for awards this year, while those driving the Tesla Model Y are paying $3,110.

Those With Records Of Traffic Violations And Accidents Will See Premiums Increase By More Than Half, Researchers Say.

Those with records of traffic violations and accidents will see premiums increase by more than half, researchers say.

Firefighters Use A Glass Cutter To Cut The Windshield Of A Car After An Accident. Motorists With Records Of Traffic Violations And Accidents Will Increase Their Premiums By More Than Half

Firefighters use a glass cutter to cut the windshield of a car after an accident. Motorists with records of traffic violations and accidents will increase their premiums by more than half

Those Driving Crossover Suvs Like Honda'S Cr-V Or Toyota'S Rav4 Are Among The Best Deals, As They'Re Typically Cheaper To Repair And Replace Than Other Cars

Those driving crossover SUVs like Honda’s CR-V or Toyota’s RAV4 are among the best deals, as they’re typically cheaper to repair and replace than other cars

Tesla Model Y Drivers Will Be Hit With Hefty Premiums, Paying An Average Of $3,110 This Year

Tesla Model Y drivers will be hit with hefty premiums, paying an average of $3,110 this year

The study follows research by Quotewizard, an insurance comparison website, which found that drivers in Utah are the worst drivers in the country and those in Connecticut are the safest

The group’s study of accidents, speeding tickets, DUIs and citations from 10 million insurance quotes last month found that Utah scores poorly in all dangerous driving categories, including the number of accidents, drunk drivers on the roads and speeding tickets Police.

Utah was followed by California, Iowa, Wisconsin and Ohio as the five worst driver states in the country. California, which ranked lowest in last year’s poll, still had “more DUIs than any other state” last year. said researchers.

Connecticut drivers were named “the best in the nation” by researchers “by a wide margin” for having among the lowest rates of citations, DUIs, speeding tickets, and pile-ups in the nation.

Michigan, West Virginia, Delaware and Arkansas rounded out the top five safest car states in the country.

Across the country, researchers found that eastern states generally saw better drivers than western states, and that states with high levels of drunk driving also likely experienced more accidents and speeding than elsewhere.

Drivers In Utah Are The Worst In The Nation And Those In Connecticut Are The Safest, According To A Study Of 10 Million Insurance Quotes Released This Week

Drivers in Utah are the worst in the nation and those in Connecticut are the safest, according to a study of 10 million insurance quotes released this week

1673295720 286 Auto Insurance Costs Jump 84 This Year Motorists With Tickets

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