Motor insurance premiums are climbing by 8.4 percent to reach an average of $1,780 this year — the biggest increase in six years, nudged up by rising costs of , a study says.
According to the report, motorists in , , and Rhode Island will pay well above-average costs, as will those with a record of driving violations and owners of Teslas and other fancy electric vehicles.
Divya Sangameshwar, an insurance expert at ValuePenguin.com, the consumer spending site that on Monday, said insurers had kept rates low for the past two year, but that 2023 was a different story.
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