“Nothing is certain except death and taxes.” Benjamin Franklin might’ve included insurance rate hikes in his seminal proverb had such a thing existed in the 1700s (it was invented around 1900). Car insurance costs have been moving up all over America recently and the trend doesn’t seem to be stopping. Three states, in particular, could see rates increase by more than 50 percent by the end of the year, according to a report..
According to a new report from Insurify, full-coverage premiums nationwide have increased by 15 percent during the first half of the year, even if one’s driving record remained unchanged. The year-end projection is estimated at 22 percent—unless you live in California, Minnesota, and Missouri. These states could see rates balloon by 54, 61, and 55 percent, respectively.
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