Car insurance rates have soared 36% since 2020. Here’s why.

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  • Car insurance rates have soared 36% since 2020. Here’s why.

As car prices have climbed in recent years, bright-colored signs at dealerships and boldface headlines have blared warnings to buyers.

But less attention has been paid to the jump in price for a stiff expense that comes along with the vehicle: insurance.

Car insurance rates have climbed 36% since January 2020, according to an ABC News analysis of consumer price data released by the Bureau of Labor Statistics.

Within the past year alone, rates for car insurance have soared more than…

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