As automobile insurance rates surge by as much as 40% per annum, regulators are beginning to push back saying enough is enough.
But rates are rising even in states with consumer-friendly laws. According to consumer advocates, California this year agreed to more than a billion dollars of car-insurance premium hikes.
Insurers claim that they have suffered big losses and premiums could keep rising through the end of 2024.
Overall, dar-insurance rates increased 17% in the 12 months to May, more than four times the 4% rise in overall inflation, Labor Department data indicated.
