Way.com reports that car ownership costs in the U.S. average $12,297 annually, factoring in purchase, insurance, fuel, ...

And the difference means car insurance rates increased by nearly 14% between 2022 and 2023, compared with an overall rise in yearly inflation of 6.5% in December.

1. Wrong class of use. Class of use describes the way the policyholder uses their car. For example, social, domestic and pleasure (SDP) is for drivers who only use their cars for leisure purposes ...