A man drinks tea in front of his computer as he researches auto insurance. On average, drivers across the U.S. are paying $165 per month ($1,984 annually) for auto insurance as we begin 2024. Photo: Rawpixel.com/Shutterstock.com

Despite already seeing a jump of 11.2% in 2023, ValuePenguin predicts rising repair costs and severe weather will drive auto insurance rates to increase another 12.6% in the United States in 2024. Premiums have been trending upward over the last several years, and have increased 29% overall since 2018, and 25% in just the last two years.

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Brittney Meredith-Miller

Brittney Meredith-Miller is assistant editor of PropertyCasualty360.com. She can be reached at [email protected].

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