In 2024, the national average cost of full coverage car insurance has surged by 26%, reaching $2,543, marking a $529 increase from the previous year. In California, the average cost stands at $2,688, with some policies experiencing a 30% hike. Factors contributing to this drastic increase include a rise in car crash fatalities, escalating vehicle parts and labor costs, and a surge in extreme weather claims leading to more accidents. Moreover, electric vehicles tend to incur higher insurance costs due to their elevated sticker and repair expenses.
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