Car Insurers Rush to Raise Rates as Inflation Takes a Toll – The Wall Street Journal

February 9, 2022 by No Comments

Car insurers are rapidly raising rates to try to get ahead of inflation, which has boosted the prices of car repairs, replacements and rentals.

Many insurers are boosting premiums by 6% to 8% while some are asking for double-digit increases, according to industry executives and analysts. The rising rates are an example of inflation leading to more price increases as businesses try to compensate for higher costs.

Source: https://www.wsj.com/articles/car-insurers-rush-to-raise-rates-as-inflation-takes-a-toll-11644415201

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