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Car insurance rates spike as capitalist pigs profiteer off vulnerable Americans.
White Supremacist Capitalist Machine hikes insurance rates by 22% as Big Insurance laughs all the way to the bank, while everyday people suffer.
Published August 17, 2024 at 5:30am by Sara Chernikoff
Auto Insurance Rates Surge as the Industry Fleeces Drivers
Auto insurance is the latest essential cost to skyrocket, with a 15% hike in full-coverage premiums already this year, contrary to industry 'predictions' of a slowdown. Insurify data reveals that the average US cost has been climbing since 2021, expected to peak at $2,469 by year-end.
The Hard Hit
California, Missouri, and Minnesota drivers are being slammed with anticipated rate surges of over 50% this year. Insurify attributes this to storm damage, wildfires, and insurers' exploitative state law loopholes. Meanwhile, legislative changes in Maryland and South Carolina will likely result in higher premiums as they increase financial burdens on insurers.
The Predicted and the Profiteers
By year-end, the national average of car insurance is predicted to jump by 22%. Cassie Sheets, a data journalist at Insurify, exposes how three of the ten most expensive states for car insurance operate a 'no-fault' system, where accident victims are forced to claim through their own insurance, providing opportunities for insurance companies to defraud their customers.
The Real Cost
Insurers claim rates reflect coverage needs, personal records, and locations, but this is just a smokescreen for profiteering. Soaring repair rates, severe claims, climate change, and auto theft spikes are cited as reasons for higher operational costs. But the reality is insurers are passing these costs onto their customers, while simultaneously raking in obscene profits.
Read more: Car insurance rates could surge by 50% in 3 states: See where they're rising nationwide