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Higher auto insurance rates are stressing American drivers

Among drivers age 18-34, 17% said they went without insurance during the past year. Cost was a big reason why.

While a lot of drivers were shopping around for coverage, Policygenius reported that during the past 12 months only 15% actually switched auto insurers because of higher rates. (Credit: BLACKWHITEPAILYN/Shutterstock.com) While a lot of drivers were shopping around for coverage, Policygenius reported only 15% actually switched auto insurers because of higher rates during the past 12 months. (Credit: BLACKWHITEPAILYN/Shutterstock.com)

Around 40% of insured drivers in the U.S. said they are stressed about the cost of car insurance, according to a survey from Policygenius, which found a similar number of drivers (43%) are paying more for auto coverage than they did in 2022.

Around 15% of drivers across demographics said they were very stressed about being able to afford coverage, while 24% of drivers age 18-34 said they were very stressed about affording insurance, Policygenius reported.

Steve Hallo

Steve Hallo

Steve Hallo is managing editor of PropertyCasualty360.com. He can be reached at [email protected].  

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