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Inflation ticked higher once again in March, with consumer prices up 0.4 percent over the previous month and 3.5 percent compared to one year earlier. The latest data marks the third month in a row that the consumer price index (CPI), a closely watched gauge of inflation, has come in hotter than expected, likely throwing cold water on hopes that the Federal Reserve would begin cutting interest rates soon.

If you pay for car insurance, you’ve probably noticed that rates are really high lately. You’re not alone. Last week’s Consumer Price Index (CPI) report — the government’s method for tracking what people are paying for goods and services and how that’s changing over time — noted that the price of car insurance was up more than 20 percent over the same time last year. What’s particularly painful is that rates were already rising: CPI reports have shown that, overall, car insurance rates are up more than 38 percent since January 2020. What’s going on? The big insurance companies have...

62% of motorists have cut back on driving due to the cost of fuel, and motorists spend an average of €220 per month on vehicle running costs, according to a new report by Carzone, the online car marketplace. In its 2024 motoring report, which is based on a survey of 1000 motorists and activity on the website, it finds 38% of motorists have or plan to reduce the number of cars in their households to cut back on costs. 47% of respondents said their car insurance premiums rose in the last 12 months, which is up 11% on the previous...

My car insurance just went up 32%. Did I have an accident or get a few tickets? Nope. Since 2020, car insurance rates in the U.S. have risen by a whopping 37%. The main reason? High-tech vehicles — aka anything remotely new — cost way more to repair. And you don’t need to have a high-tech car to feel the pinch. It’s hitting everyone. Driving up costs Our cars are packed with dozens of sensors and endless lines of computer code. Combine that with the rising cost of replacement parts and repairs, and voila, soaring auto insurance rates. Look at...

'When they're damaged, the cost of repair is higher,' she said. Since electric cars have fewer components, when one does fail its more expensive to replace. That means insurers may prefer writing off a car over repairing it. Unlike in the past when a windshield could be replaced with relative ease, the sensors that go into them now mean traditionally simple repairs have become longwinded and expensive. That also means they can take a while, leaving the insurance company responsible for renting a replacement car for the customer for even longer periods. 'If an electric vehicle is involved in a...

TAMPA, Fla. (WFLA) — A study on auto insurance rates across the country found that in Florida, women pay an average more than $300 higher than men. The study, by QuoteWizard, said it was the second largest gender gap in the country, when it came to auto insurance rates. Generally, the study said men tend to pay slightly less no matter where. However, sometimes it’s a matter of age. Teenage male drivers pay more than their female counterparts, but overall men pay less. “On average, we found that men pay $720 per year for auto insurance, while women pay $739...

California regulators are planning stiffer rules on car insurance sold through occupational, educational and other so-called affinity groups, contending some programs discriminate against low-income people. The state’s insurance department on Monday said it has launched an effort to toughen oversight of group-discount arrangements. The move follows an investigation that found the most-frequent beneficiaries of these arrangements were Californians in ZIP codes with higher average incomes, higher levels of education and a greater percentage of non-Hispanic white residents, insurance department officials said. Out of millions of California vehicle owners in affinity groups, the investigation found the most prevalent type was occupational....

Should you be able to drive without car insurance? Yes, in some states you can. If you have a major car wreck — without insurance — should you be able to call the insurance company from the crash site to buy it then and there? GLENN: Look, the best way to explain this — the best way to explain what’s happening to our insurance companies is this: Would anyone think it’s fair to say to an auto insurance company, I’m not going to buy any auto insurance unless I’m in a wreck. PAT: Uh-huh. GLENN: So when the police comes...

Are you stealing cars without knowing it? 10/08/14 - Here's another reason to protect your identity -- car thieves are stealing personal information to buy new vehicles directly from dealerships, according to the National Insurance Crime Bureau (NICB). The bureau says crooks have been frustrated by late-model cars with advanced safeguards that make hot-wiring difficult. But resourceful thieves are now using stolen IDs and fake driver's licenses to purchase or lease vehicles, which they then sell after changing vehicle identification numbers (VINs). "It's comparable to a hacker stealing IDs," explains Joe Wehrle, the NICB president and CEO, in a written...

I have been driving a car since I was 16 years old, which was also when I got my auto insurance under my parents' plan. It was expensive when I first started out, but as I demonstrated good driving behavior -- avoiding accidents and speeding tickets, I was encouraged by cumulative discounts including safe driver, good student, and multiple car deductions. But when it came to my health insurance, I first started making payments on it with my first job after college. Of course, I took the cheapest plan with the fewest bells and whistles and the highest deductibles, but...

Mercury Insurance Group, based in Los Angeles, confirmed today that 165 people were laid off in its claims division as well as some administrative staff. A company spokesman said some of the jobs were in Brea, but he could not immediately confirm how many.

Could switching to ObamaCare really destroy our health care system? Do liberals make weak, emotional arguments defending horrible policies? Somebody get the GEICO gecko.  He’s about to be put in charge of our health care. In the wake of Monday’s court decision ruling the individual mandate component of ObamaCare unconstitutional, the White House is trotting out a new line, which is actually an old line, and they’re trying to change the terms of the debate.  We shouldn’t be surprised, I guess: These people are trying to put a tax on breathing.  Any other tactic is fair game once you’ve tried...

Are attorneys more likely to be to be dangerous drivers? An insurance study reveals that 44% of attorneys have reported an accident. However, there’s a chance Attorney’s and Judges partly find themselves at the top of the list because of potential legal liabilities. And although teens and the elderly are clearly high risk groups, they fall outside of the profession focus of this study. THE LIST: 1. Attorney/judge 2. Financial professionals 3. Government worker (GS6) 4. Bartender or waiter 5. Business professionals 6. Dog groomer 7. Marketing/advertising professionals 8. Barber/stylist 9. Coach 10. Nurse The least dangerous drivers? Athletes (17%...

What would happen if government-run automobile insurance became a reality as the result of legislation similar to that calling for government-run health care?

Car insurance by the tankful? Not quite, but California moved a step closer last month to pay-as-you-drive policies that could allow motorists to buy insurance like they do gasoline — a little at a time. Insurance Commissioner Steve Poizner released regulations permitting and authorizing mileage verification for pay-as-you-drive, without dictating what form such plans must take. The goal is to use per-mile pricing to entice Californians not to drive so much, thus easing air pollution, relieving traffic congestion and lowering the number of traffic collisions.

TAMPA - Andrea Davis can't understand what two flat tires and leaving the keys in her car have to do with being rejected for auto insurance. The answer lies in the optional emergency road service coverage the Lutz resident was persuaded to buy from her insurer, Geico, for $12 a year. The bargain rate, one-fifth the cost of emergency road service from AAA, turned out to be no bargain at all. Davis, 31, discovered how costly her Geico emergency road service was when she shopped for an insurer that could beat the $1,400 a year she paid Geico for coverage...

CBS4 Investigates Fake Insurance Cards May 19, 2005 9:24 am US/Mountain The CBS4 Investigates team recently used hidden cameras to find out how easy it is to get a phony car insurance card. In the process they found that there doesn't appear to be any real enforcement against people who are using counterfeit cards and trying to pass them off as the real thing. An insurance agent told CBS4 the phony cards translate into higher costs for everyone. The following is investigative reporter Brian Maass' report. THIS IS THE LINK TO THE CBS4 VIDEO story