Join us as we peel back the layers on the ballooning costs of car insurance with Divya Sangam from Lending Tree. With an eye-opening average rate increase of 12.6% sweeping the nation, we uncover some of the factors driving this inflation—from escalating claim costs and the impact of climate disasters to the spike in catalytic converter thefts. You'll learn why the expected pandemic savings never materialized in consumers' wallets and how state insurance boards are entangled with inflation in greenlighting these rate hikes. It's a deep dive into the financial squeeze on American drivers, and a look at an industry grappling with change.
We shift into the world of used auto parts, weighing the savings against the risks. We scrutinize whether a second-hand catalytic converter or an ADAS unit is a gamble worth taking, and discuss how companies like LKQ are transforming the market. But what does this mean for your insurance policy? We dissect the relationship between aftermarket parts, potential theft, and the premiums you pay. And as we round the final corner, we'll glance at the latest in automotive news, from a slew of recalls to Tesla's driving range adjustments, Fisker's new sales approach, and the current swell in new car inventories.
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