Car insurance has gotten expensive. In the U.S. the average annual premium for full coverage car insurance rose 26% to $2,543 compared to last year, according to Bankrate. Fewer auto mechanics, a tighter supply of used vehicles and increased health care bills are fueling rising prices. Cars are also costlier to fix and American drivers are becoming more reckless. There were more than 6.1 million motor vehicle crashes reported to the police in 2021, according to the US. Department of Transportation.

0:00-2:16 Intro
2:17-4:26 Chapter 1 Rising costs
4:27-8:05 Chapter 2 Why rates are increasing
8:06-9:53 Chapter 3 Calculating costs
9:54-12:15 Chapter 4 Driving recklessly

Produced by: Shawn Baldwin
Edited by: Marc Ganley
Supervising Producer: Jeniece Pettitt
Animation: Andrea Schmitz
Additional Footage: Getty Images

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Why Car Insurance Rates Are Skyrocketing In The U.S.