Connect with us

Hi, what are you looking for?

Opinion

U.S. Home, Auto Owners Paying Over $3,700 Per Year In Insurance Premiums

via Golden Eagle Log and Timber Homes on Youtube

Home and auto insurance rates in the US are projected to have their largest increases in over five years, with prices surging by double-digit amounts within the first seven months of 2023.

The average cost of home insurance is $1,582 a year, and the average vehicle owner pays $2,150 a year for full coverage.

Factors driving the costlier premiums include extreme weather, car accidents, and inflation, with Texas experiencing the highest cumulative rate increase at 37.6 percent over the last 20 months.

According to Forbes Advisor, the average cost of home insurance is $1,582 a year for $350,000 worth of coverage.

They reported that vehicle owners now pay an average of $2,150 a year for full car insurance.

Inflation has dramatically surged since President Joe Biden took office in 2021, with the average U.S. household spending an additional $11,400 per year to maintain the same lifestyle.

Most Popular:

Walmart Joins ‘Woke’ Companies and Angers Conservatives

WWE Legend Sentenced To 17 Years In Prison

Biden Impeachment Vote Coming To House Floor

You May Also Like

Media

Real estate agent Mauricio Umansky warned of a “perfect storm of total unaffordability” in the housing market due to high interest rates, low supply,...

U.S. News

A lawsuit alleges Jeffrey Epstein had surveillance cameras monitoring victims and guests inside his New York mansion. Two Epstein accusers, Danielle Bensky and Jane...

U.S. News

Chuck Mawhinney, a Marine Corps veteran who became the deadliest sniper in that branch’s history during the Vietnam War with 103 confirmed and 216...

Politics

President Joe Biden has the power to pardon criminals and has utilized this authority for numerous convicted individuals. Recently, it was discovered that Biden’s...

Politics

Former President Trump has identified several potential running mates, including Ron DeSantis, Tim Scott, Vivek Ramaswamy, Kristi Noem, Byron Donalds, and Tulsi Gabbard. Trump...

Gallery

In the vast expanse of our cosmos, Earth is not alone in its journey around the sun. Celestial body The Moon is a celestial...

Media

A professor at Cal State University known for her involvement in Black Lives Matter criticized the Kansas City Chiefs’ Super Bowl victory and Taylor...