As Auto Insurance Rates Climb, More Drivers Go Underinsured or Uninsured

Posted: May 6, 2025

As auto insurance premiums continue to rise, some motorists find it challenging to afford the higher rates, leading them to make difficult decisions like not purchasing insurance or purchasing a policy that only has the state-mandated minimum liability limits. A new study by the Insurance Research Council found that one in three U.S. drivers nationwide is either uninsured or underinsured in 2023, up 10% since 2017. Nearly...

Trends Pushing Auto Insurance Rates Higher

Posted: February 11, 2025

Automobile insurance companies are struggling to keep up with the rising cost of collision insurance claims, and that's forcing them to raise rates at a steady clip. In 2019, the industry paid out $62.6 billion in losses for damage to personal vehicles and $5.4 billion for commercial vehicles. By 2023, those numbers had risen to $95.4 billion and $8.2 billion, respectively. Insurers have responded by...

Auto Insurance Minimum Liability Levels to Double

Posted: December 10, 2024

Thanks to a new law, starting Jan. 1, 2025, California is increasing the minimum liability coverage levels that drivers in the state will be required to have on their auto insurance policies. The new minimums, double current levels, are meant to keep up with inflation, particularly the cost of car repairs and medical costs. While the minimums have long needed to be increased(they've been in...