A recent survey by J.D. Power reveals a significant surge in the number of drivers seeking lower auto insurance rates, reaching a peak of 13.3% in Q2, the highest since 2020. This trend is largely attributed to a 19.5% increase in auto insurance premiums over the past year, driven by rising costs associated with auto repairs and an uptick in car accidents as more drivers return to the roads post-pandemic. Many consumers are changing their coverage options, increasing deductibles, or exploring usage-based insurance to mitigate costs. Experts predict that auto insurance rates may stabilize or decrease by the end of the year, but advise against driving uninsured, as it may lead to greater financial burden.
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