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Chart of the Day: Car Insurance Up 37%

Samuel A. Kiburz Feb 29, 2024


Today’s Chart of the Day from Bloomberg with data from the US Bureau of Labor shows the inflation of car insurance (black) vs. everything else (blue) going back to 1970.Quite simply, car insurance has gone up 37% since 2020. The reasoning is primarily due to the increase in the complexity of automobiles, including additional sensors, computers, and in the case of EV’s, the cost of motors and batteries.

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