Here's why car insurance is getting more expensive this year
In 2020, at the start of the COVID-19 pandemic, many
Americans were pleasantly surprised when car insurance companies began issuing
refunds on insurance premiums. More people staying home meant fewer claims, so
insurance companies refunded premiums for their customers across the board.
But those refunds stopped as people began returning to
pre-pandemic levels of activity and, in 2022, some drivers are seeing steep
increases in their car insurance rates. The reason for these increases isn’t
just that Americans are back on the roads — there’s actually a few different
reasons why you might get hit with a car insurance rate hike this year.
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