Increased traffic could lead to higher auto insurance rates in Ingham County

A new NerdWallet analysis indicates a record number of vehicles are being used for commuting, potentially driving up auto insurance rates. About 27% of Americans reported an increase in their auto insurance premiums over the last year.

Kaz Weida, an insurance expert at NerdWallet, attributes this trend to the rising cost of vehicles, with the average new car now priced around $50,000. He notes that more vehicles on the road and higher traffic density contribute to a greater risk of accidents, which can feed into higher insurance premiums.

NerdWallet’s car ownership cost index shows a 11% increase in overall expenses between 2024 and 2026, largely due to higher gas prices. Weida recommends regularly comparing insurance policies to find savings, as only one in five policyholders had shopped for a policy in the last year.

Read the full story at wilx.com.