Life is becoming more expensive because of Joe Biden.
Now, the thrill of the open road is costing an arm and a leg.
And Ron DeSantis revealed this national nightmare that Joe Biden created for drivers.
Ron DeSantis slams Joe Biden for jacking up car insurance rates
Car insurance premiums have surged by 22.5% over the past year, the biggest increase in 47 years.
Driving has become more expensive for inflation-weary Americans.
Florida Governor Ron DeSantis blamed “the wages of Bidenomics” for car insurance spiking after March’s Consumer Price Index was released.
“The No. 1 individual-itemized increase for inflation was auto insurance,” DeSantis said. “This print today for just a month had a massive increase and that’s really, really difficult.”
Florida has the second most expensive car insurance in the country behind Louisiana, according to Bankrate’s True Cost of Insurance Report.
Inflation is creating pressure on household budgets from rising grocery bills and housing costs.
Now being able to drive to work is taking a bigger bite out of Americans’ paychecks.
The inflation that Biden unleashed in other areas of the economy is driving up costs for insurers.
“With car insurance, it’s something that’s been building up for a while now,” Bankrate analyst Shannon Martin told Fox Business. “Car insurance tends to be very reactionary, so in the past few years, the industry has experienced a lot of losses during a time when inflation has caused the cost of vehicle parts, different products, and repair costs, to increase.”
And there might not be any relief coming for years.
Rate increases to cover the losses insurers took in 2023 are being priced into insurance this year.
“Car insurance inflation is sticky, and while inflation has slowed down and supply chain issues are improving, the premium increases we are seeing and will continue to see in 2024 are based on losses carriers experienced over the last few years,” Martin added.
Hidden factors driving up car insurance created by Biden
Car accidents have been on the rise since 2021 and one of the factors for that could be the more than seven million illegal aliens who poured into the country under Biden.
Illegal aliens are almost always driving without a license and car insurance when they are behind the wheel.
The cost of the accidents involving them is being absorbed by drivers who play by the rules.
And the country has seen historic numbers of vehicle thefts during Biden’s Presidency.
The number of cars stolen crossed the one million threshold in the U.S. for the first time in 2022.
That $6.6 billion cost of stolen vehicles results in more losses that insurers must pay out.
Soft-on-crime policies in Democrat-controlled cities have fueled a surge in the number of organized vehicle theft groups.
Drivers are paying a steep price for the failed policies of Joe Biden.
DeSantis Daily will keep you up-to-date on any new developments in this ongoing story.
