Car Insurance Rates in the Philly Area are #Insane

What's worse than a case of Alaskapox? Sky-high car insurance rates. ⬆️🚗 OK, maybe we wouldn't trade them for a deadly disease, but these premiums sure are killing us. 😰

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If you live in the Philly area, you're getting some extra love from the evil car insurance fairy. 🧚 The City of Brotherly Love has the largest jump in average car insurance costs in the country this year so far. 

Here’s Five Fast Facts on Philly's high car insurance rates:

1. 🚙 Fast Cash - Philly area drivers spend an average of $4,753 on car insurance premiums per year. That shakes out to about 5.65% of their household income.

2. 📈 The Biggest Loser - According to a recent analysis, the Philadelphia metro area (which includes Camden, NJ and Wilmington, DE) experienced a 154% jump in full-coverage premium costs this year. It's the largest jump out of all 26 metro areas studied.

3. 🐊 Gators and Bad Water - Who spends more than Philly drivers on car insurance? Drivers in the Miami, Tampa, and Detroit metro areas. 

4. ⏫ Average Joe - Across the United States, the average cost of full-coverage car insurance jumped by 26%. That's a huge difference compared to Philadelphia's increase.

5. 🛣️ Highway Robbery - What causes insurance premiums to go up so much? Experts blame inflation, the rising cost of car parts and repairs, and more fatalities on the road since the pandemic.

🔥Bottom line: What else is happening in Philly that might be influencing these rate increases? A buttload of car thefts. According to police data, auto thefts in Philadelphia increased by more than 136% since 2006. Compare the 8,916 cars stolen in 2006 to the 21,111 jacked between January and November of 2023. We recommend buying The Club, Lojack, and chaining your car to the nearest elephant.

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How much has your car insurance increased this year?

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