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Chart of the Day: Car Insurance Up 37%

Samuel A. Kiburz, Senior Vice President, Chief Investment Officer Feb 29, 2024
Chart showing car insurance price in blue and overall consumer prices in black

Contents

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.
Chart of the Day

About the Author

Samuel A. Kiburz, Senior Vice President, Chief Investment Officer
Samuel A. Kiburz, Senior Vice President, Chief Investment Officer

Samuel serves as Senior Vice President, Chief Investment Officer for the Crews family of banks. He manages the individual investment holdings of his clients, including individuals, families, foundations, and institutions throughout the State of Florida. Samuel has been involved in banking since 1996 and has more than 20 years experience working in wealth management.

Investments are not a deposit or other obligation of, or guaranteed by, the bank, are not FDIC insured, not insured by any federal government agency, and are subject to investment risks, including possible loss of principal.

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