Drivers across the U.S. are struggling with the growing cost of car insurance, which rose 2.6 percent in March from February and 22.2 percent from a year earlier, according to the latest data on inflation shared by the Labor Department.In the same month, consumer prices climbed 0.4 percent compared to February, with inflation rising by a stronger-than-expected 3.5 percent.
09 in claims and expenses for every $1 of premium written, Friedlander said, 'the second consecutive year of a significant insurance industry underwriting loss.'Insurance companies are taking notice of the changes in the market.'Car insurance is a reactionary product, and carriers are attempting to recoup the losses they have experienced over the past few years while adjusting their risk models to accommodate future risks,' Martin explained.
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