California could see car insurance rates soar by more than 50% this year: Here’s why
www.ktvu.com
A new report identified California among the three states that could see auto insurance costs spike by more than 50% by year’s end.
  • solrize@lemmy.worldEnglish
    4·
    3 months ago

    Yes, clickbait. The reasons given are 1) more vehicle thefts, 2) new higher minimum liability coverage (2x or 3x the old minimum) starting next year 3) no increases in past couple of years due to a pandemic freeze that is now lifted.

    • DrunkEngineer@lemmy.worldEnglish
      2·
      3 months ago

      The legislation will double, and, in some cases, triple the liability limits on policies. For bodily injury or death of one person in any accident, the coverage will go up from $15,000 to $30,000. For property damage per accident, it would go up from $5,000 to $15,000.

      Those minimum liability limits are insane…just $30,000 coverage for killing somebody!?

      • bob_omb_battlefieldEnglish
        1·
        3 months ago

        Those don’t sound like minimum policy limits? Weirdly worded. Where I live having less than $1 million in liability coverage would be kinda sketchy.