Car insurance costs have risen by roughly 55% since 2020, outpacing all household expenses. This increase is not due to driving issues, but also due to increased costs of repairs, inadequate mechanics, and jury verdicts. The Bureau of Labor Statistics reported that while groceries, gas, and rent rose significantly, car insurance costs were higher. The Consumer Price Index for motor vehicle insurance rose 5.9% year-over-year as of February 2026, a sharp slowdown from the peak of roughly 20.6% in early 2024. The average new car now sells for roughly $47,740, and even mainstream brands have seen prices jump 27% since 2019. The cost of car insurance has increased by 50% since early 2020, and premiums are approximately 50% higher than they were in early 2020. There are also concerns about qualified mechanics not being able to work for the job.