Insurers are getting big bumps because they have suffered big losses. Car insurance premiums could keep increasing through the end of 2024.
“Rates need to rise probably 5 to 10 percent in each of the next couple of years, because the loss trends have gone up so much,” said Dale Porfilio, Chief Insurance Officer at industry group Insurance Information Institute.
https://www.wsj.com/articles/car-insurance-rates-are-soaring-with-little-relief-in-sight-66138e2a