... the technology in newer cars is sending to insurance companies causing, premiums to skyrocke

NYT: Insurance premiums skyrocket as technology in cars tattles on drivers

There’s a lot of variation from state to state regarding the car insurance rate increases that drivers are facing. That’s partially because auto insurers price their plans based on the losses they’re incurring on a state-by-state basis,...

Meanwhile, drivers in North Carolina saw the smallest bump in car insurance rates, up just 5.5% over that same timeframe. That’s partially due to the state’s unique format that includes a rate bureau that submits filings on behalf of the entire industry.

What’s behind the rapid increase in car insurance rates

The North Carolina Rate Bureau is tasked with certain responsibilities for private passenger automobile insurance. The North Carolina Rate Bureau provides, but is not limited to, the following functions:

Responsible for filing rates, rules and forms for approval by the Commissioner of Insurance
Provides a mechanism for appealing Safe Driver Insurance Plan (SDIP) points
Monitors legislative activity and industry trends
Provides statistical and compliance services
Collects and examines statistical and ratemaking data

North Carolina Rate Bureau

Few categories had as big a jump year on year than auto insurance, which soared 22% from March 2023, the most significant year-on-year jump in that category since 1976.

And over the last few years, average auto insurance rates have surged 43%.

Consumer prices moved higher in March. Auto insurance costs were a major reason.

Did your car insurance rate go up a lot even though you don’t drive much?