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    Home»Insurance»Car insurance rates are expected to rise further in 2023
    Insurance

    Car insurance rates are expected to rise further in 2023

    December 10, 20221 Min Read
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    Auto insurance rates across the country are expected to rise in 2023, according to a study by To assurean online insurance marketplace.

    Click here to see the Insurify study.

    In 2022, the average cost of car insurance rose 9% to $1,777 per year, according to the study. The average cost is expected to rise 7% to $1,895 next year, he found.

    Oklahoma Insurance Commissioner Glen Mulready said changes in public behaviors as a result of the pandemic, such as more people driving and having accidents, have increased costs.

    “There have been a lot of changes in behavior and how outside factors affect that,” he said. Add to that inflation and supply chain issues, and customers face “really a perfect bad storm of outside factors.”

    Mulready recommends researching better insurance rates to find the lowest payout.

    “When people contact me personally, I tell them the best thing to do is shop around. It’s a very competitive market with lots of choices. So shop around and see if you can get better rates.”

    For more information from the Oklahoma Department of Insurance, Click here.

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