Auto Insurers Say Soaring Cost Of New And Used Cars One Reason Rates Need To Be Raised

By CBS Los Angeles Staff:

With rising gasoline prices topping the $6 a gallon mark and now most major auto insurers attempting to raise their rates, California drivers can't catch a break.

"Auto insurance across the country is taking a major, major hit from a slew of different factors," Karl Susman, with Susman Auto Insurance, told CBSLA.

Susman is an independent insurance broker. He said rates nationwide are going up 20, 30, even 40%, and one of the reasons is the soaring cost of new and used vehicles.

Read more at CBSLA

CBS Local Digital Media personalizes the global reach of CBS-owned and operated television and radio stations with a local perspective.