Why auto insurance rates are skyrocketing in the U.S.

The average annual premium for full coverage auto insurance in the U.S. rose 26% from 2023 to 2024, according to Bankrate.
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Complete coverage of business news in the Twin Cities, Minnesota and elsewhere, including Fortune 500 Minnesota companies: UnitedHealth Group, Target, Best Buy, 3M, CHS, U.S. Bancorp, General Mills, C.H. Robinson, Land O’Lakes, Ecolab, Ameriprise Financial, Xcel Energy, Hormel Foods, Thrivent Financial, Polaris, Securian Financial Group, Fastenal and Patterson Cos.