By Steven Symes 
A new survey of Americans found 85 percent of car owners believe insurance pricing models are unfair. Considering what many people are paying each month to insure their vehicle is what ten years ago they might have been paying monthly for a car loan, it’s not too hard to understand why.
Kia keeps racking up sales records.
While the insurance industry has blamed rising rates at least in part on inflation, people don’t seem to buying the excuse. The same survey, conducted by Guardian Service, found 71 percent of drivers believe that’s an excuse. Just look at the financial reports for big insurance firms and you’ll figure out they’re not exactly hurting.
You’ve probably watched your insurance rates climb considerably over the last few years. Two thirds of those surveyed said their premium was increased in 2025. With the cost of vehicle ownership going up as a result, 23 percent said they’ve considered just canceling the insurance coverage, with younger drivers feeling the financial pinch the most.
Yet many people aren’t shopping around for cheaper rates. A whopping 53 percent of those surveyed said they’ve stayed with the same insurance carrier even as rates keep climbing. That might be in part because 20 percent said they did try to find a better deal but couldn’t.
While everyone’s trying to trim back costs to keep up with high insurance rates, among other expenses, Gen Z shows a troubling trend. Of those surveyed, 48 percent of that generation say they’ve delayed or skipped car maintenance items like oil changes and tire rotation/balancing to make ends meet.
The youngest generation is perhaps the most shortsighted about the situation, which might be a result of a lack of life experience. At 63 percent of Gen Z saying they’d take a higher deductible on their insurance for lower premiums, they went for that option far more than other generations who have probably dealt with insurance claims and know what that actually means.
But one of the most disturbing outcomes from this survey is how many people are willing to sacrifice their freedom of movement to save a buck. A whopping 35 percent of respondents said they’d exchange the ability to drive late at night or have a speed-monitoring device on their car if it meant they had a lower insurance rate.
That’s such an odd move if those same people think insurance companies are using inflation as an excuse to increase premiums.
See the survey results for yourself here.
Image via Mike Bird/Pexels