In this survey, we looked at the size of the premium increases and how common the price hikes were across 29 car insurance companies for which we had adequate data. We found quite a range. One company’s price increases affected only 37 percent of its policyholders, while at the other end of the spectrum, another company’s price increases affected 91 percent of its policyholders.
“Rate hikes were very common, with most policyholders getting hit with price increases,” says Martin Lachter, who oversees Consumer Reports’ survey research unit. “However, we found dramatic differences from company to company. This underscores the importance for drivers to periodically comparison shop for insurance, or they may face outsized premium price increases.”
We saw a correlation between the companies with fewer price increases and those with higher overall satisfaction scores. So checking CR’s car insurance ratings can steer you toward a good company with good rates.
We’ve ranked 29 car insurance companies based on the number of policyholders affected by price increases, indicating the size of the increase.
These insights, and our full car insurance ratings, are available to Consumer Reports digital members.
