As cooling inflation offers consumers much-needed relief, many car owners are in for a rude awakening when insurance renewal arrives this year, a new report found.
Car insurance rates are expected to increase by 8.4% across the U.S. in 2023, the largest rate increase in six years, according to the report from research firm ValuePenguin.
The average cost of full coverage car insurance is expected to be $1,780 per year, but rates will vary dramatically between states, the report…
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