Blaming sky-high car insurance on tech-filled rides.

February 2, 2024
1 min read

TLDR: Car insurance rates in the U.S. have risen by 37% since 2020, largely due to the high cost of repairing high-tech vehicles. Sensors and computer code in cars, along with the rising cost of replacement parts, are driving up insurance rates. The average repair bill for an electric vehicle is $6,618, compared to $4,437 for a gas car. Additionally, the increasing number of parts and advanced driver-assist features in vehicles is making repairs more expensive. Insurance rates for EVs and collision claims have also seen significant increases. To save on car insurance, consider adjusting coverage, asking for discounts, switching to usage-based insurance, bundling insurance plans, and reviewing the costs and benefits of installing a tracking device for a discount.

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