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This Is Fine: Insurance Now a 'Luxury Item,' Thanks to Biden and the Left

Fuzzy Chimp

For several years now, the Left has argued that we should allow people to steal, riot, loot, and thieve because they really need whatever it is they're stealing, and insurance will take care of it.

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Several of us warned that this would end badly. Now, businesses are leaving high crime areas in droves, and insurance costs are skyrocketing.

While this focuses on auto insurance, homeowners insurance is also going up -- a 50% increase between 2019 and 2023.

More from Axios:


While the rising cost of auto insurance is pushing up the official inflation rate, there's a stealth insurance cost that isn't showing up in the Consumer Price Index: homeowners insurance.

Why it matters: Along with high mortgage rates and record home prices, soaring insurance rates are just one more thing putting pressure on the cost of homeownership.


State of play: Insurance costs are up around 20% over the past two years and are projected to rise another 6% in 2024, according to an estimate from Insurify, a comparison site.

  • Pull back further, and the numbers are even more astonishing. The cost of insuring the average home rose to $1,905 in 2023 from $1,272 in 2019 — a 50% increase — according to data cited in a recent note from Bloomberg Intelligence.

The big picture: This cost isn't showing up in the official inflation data.

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Focus on that last line again: The cost isn't showing up in official inflation data.

Can't imagine why.

And the lower- and middle-income families are hardest hit.

Everyone is suffering.

Yes it is.

Build back better, or something.

So let's force everyone into far more expensive electric vehicles! That'll save money.

Nope, it has not.

But it was 'transitory', we were told.

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So do we.

He's paying for the less safe drivers and the claims caused by accidents, thefts, etc.

When insurance companies stop covering certain areas, or certain vehicles, or certain dwellings, the Left will whine and sue and scream racism. And the cycle will repeat.

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