Surging auto insurance rates squeeze drivers, fuel inflation

By DAMIAN J. TROISE
AP Business Writer

NEW YORK (AP) — Relentlessly rising auto insurance rates are squeezing car owners and stoking inflation. Auto insurance rates rose 2.6% in March and are up 22% from a year ago. Premium costs have marched steadily higher since 2022, even as inflation at the consumer level cooled from its 9.1% peak in the middle of that year. Higher values for cars, along with more advanced technology and intricate parts, have raised the overall cost of repairs. Consumers have several options to lower their rates, including shopping around, bundling policies and taking on a higher deductible.