Feb 3, 2025 - News
Your car insurance rates went up
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Pennsylvania is among the states with the fastest-growing car insurance costs, a new report finds.
The big picture: The average annual cost of full auto coverage in Pennsylvania increased 38% in 2024, per a new report from Insurify, which helps drivers compare quotes from multiple providers.
- Pennsylvania's increase was the fourth highest of any state.
💰 By the numbers: Pennsylvania drivers are paying an average of $2,114 for full coverage annually as of 2024.
- Americans broadly are paying an average of $2,313 for full annual coverage.
What they're saying: Insurance costs are driven by several factors, Insurify's Chase Gardner tells Axios.
- First is the likelihood that drivers will file a claim, and how much those claims will cost to pay out.
- Extreme weather plays a role too, Gardner says, with natural disasters like hail and wind leading to a spike in claims in several states.
What's next: Car insurance rates are likely to increase just 5% nationwide this year, and only 3% in Pennsylvania, Insurify predicts.