Average car insurance costs rose 9% in 2022: Insurify

According to a new report from Insurify, inflation and more frequent car accidents are pushing up the average cost of car insurance.

Video transcript

SEANA SMITH: All right, well, rising inflation and more frequent car accidents are pushing car insurance costs higher. That's according to a new report from Insurify. The average cost of car insurance rising 9% this year to $1,777 a year. Insurance rates rising the most this year in Oregon, Maryland, Virginia, and Idaho. And now insurance experts are estimating that costs are going to go even higher, up another 7% next year. That will push insurance payments to over 150 bucks a month.