Car Insurance Rates Were Ready to Drop. Then Tariffs Came Along.
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A sterling set of results from property-and-casualty insurance carriers in 2024, particularly in auto insurance, got analysts and executives talking about renewed competition for new business with lower rates this year. Auto insurers had seen a wave of underwriting losses during the years of high inflation after the pandemic, as the cost of repairing a car surged. In March, there were 482 requests filed with states for negative changes to personal auto insurance rates.
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