Car insurance rates continue to increase in California, a problem for all drivers

According to Insurify, climate-driven natural disasters, inflation and soaring car prices are contributing to the increase in car insurance rates.

Rates already saw a 15% increase in the first half of 2024.

Higher costs and more expensive car parts make it more expensive to cover accidents. The average price for a new car in July was over $48,000.

Some car insurance companies have pulled out of the state, making it harder for drivers to find affordable options.

Joe Garcia, President of Garcia Insurance, tells News Channel 3 says this is impacting everyone, but especially younger, less experienced drivers and older drivers.

As for how long this trend will last, Garcia says don't expect prices to go down anytime soon.

“The question really should be is will car insurance companies stabilize premiums overtime, I think that will be the answer a year from now.”

Joe Garcia, Garcia Insurance President

California is one of three states that expect to see an increase of over 50% this year.

Stay with News Channel 3 to hear from car insurance experts and concerned drivers.

The post Car insurance rates continue to increase in California, a problem for all drivers appeared first on KESQ .