Inflation Is Heating Up Again. Here's What It Means for Auto Insurers Progressive and Allstate.

After spending the past couple of years raising rates to catch up with soaring claim costs, auto insurers may be facing another test.The Consumer Price Index rose 4.2% in May from a year earlier, marking the highest inflation reading in three years. Although much of the increase was driven by energy prices, several categories that directly affect auto insurers remain elevated, including vehicle repair costs, maintenance expenses, and used car prices. Vehicle maintenance and repair costs rose 6.1% year over year in May, while used vehicle prices ticked higher after months of declines.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool