Kevin Drum has a short piece on the recent surge in auto insurance rates. He doesn’t offer any explanation in his post, but the comment thread has suggestions:• a combination of increase in bad driving and lack of enforcement;• fender benders are much more costly since all the self-driving gear as well as lane alerts, back up and blind spot cameras, etc., are in the bumpers, windshields and side view mirrors;• the increased number of EVs on the road, which some commenters assert are more expensive to repair;• increased damage due to climate change (fires, floods).Commenters note that insurance rates have also surged in Canada and Germany, so it’s apparently not just a US thing.Discuss.Explaining the surge in auto insurance rates
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Joel Eissenberg considers the following as important: auto insurance rate hikes, US EConomics
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Kevin Drum has a short piece on the recent surge in auto insurance rates. He doesn’t offer any explanation in his post, but the comment thread has suggestions:
• a combination of increase in bad driving and lack of enforcement;
• fender benders are much more costly since all the self-driving gear as well as lane alerts, back up and blind spot cameras, etc., are in the bumpers, windshields and side view mirrors;
• the increased number of EVs on the road, which some commenters assert are more expensive to repair;
• increased damage due to climate change (fires, floods).
Commenters note that insurance rates have also surged in Canada and Germany, so it’s apparently not just a US thing.
Discuss.