A. A. Sanchez News
Inflation in car insurance index continues to outpace overall inflation
The increase in motor vehicle insurance over the month was August was three times faster than the national inflation rate.
Excessive lawsuits, backed by third-party funding, raise insurance costs, hurting low-income Californians
Third-party entities, such as hedge funds, are increasingly providing financing for lawsuits in exchange for a share of the settlement. This practice is driving up insurance costs, disproportionately affecting low-income policyholders.
California’s high cost of car insurance hurts low-income, minority residents
The average cost of car insurance in California is almost 21% higher than the national average, as reported by MarketWatch, a subsidiary of Dow Jones. The elevated cost of insurance, which is uniformly distributed among all Californians, has been particularly burdensome for low-income and minority residents who are already struggling to afford basic necessities. This surge in prices is attributed to "unnecessary" lawsuits.