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Editor:
Published: Apr 17, 2024 4 min read
A receipt for a car return due to high insurance cost
Money; Getty Images

A 22% year-over-year increase in auto insurance costs is pushing more car owners to shop around for cheaper policies — or sometimes to take even more drastic measures.

More customers are shopping around and switching auto insurance companies so far this year, indicating that folks are finding better — or cheaper — alternatives to their previous insurers, according to a new report from J.D. Power and TransUnion.

Another (more surprising) effect of the surge in car insurance costs is a trend of drivers returning newly-purchased cars upon realizing that their monthly vehicle costs are too high when an expensive policy is factored in.

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