Ray Insurance Agency

While 86% of surveyed policyholders say they have a strong understanding of insurance, new data from the Big I® and Trusted Choice released ahead of National Insurance Awareness Day 2024 indicates most consumers are still in the dark regarding coverage specifics.

"Consumers may not take the time to understand the product until something happens," says Michael McCartin, Trusted Choice independent agent and president of Joseph W. McCartin Insurance, Inc. "They will get insurance to help pay for a fire or damage to a vehicle, but they don't want to get into the weeds."

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Around 90% of Americans plan to travel in 2024, with 63% of those intending to take a road trip, according to a survey from IPX1031. While driving to your vacation destination comes with some benefits, like lower costs and more flexibility, road trips come with their own set of risks.

Road trip ready: Staying safe on your summer adventure Take these steps before your road trip to ensure smooth travels.

Drivers in the United States pay an average of $1,895 each year for full coverage auto insurance. Auto rates have been steadily increasing since 2022, even as consumer inflation has steadied a bit. According to AP, rates rose 2.6% in March 2024, for a total increase of 22% from a year prior.

Of course, these rates can vary wildly depending on where an insured lives, and drivers in some states have seen steeper jumps year-to-year than others. For example, Pennsylvania, South Dakota and Ohio all experienced average auto rate increases of over 40% from 2022 to 2023.

States with the most expensive personal auto rates When it comes to auto insurance premiums, not all states are created equal.