Car insurance rates jump 27% in Kansas since 2021, more projected for 2024

KANSAS (KSNT) - Insurance marketplace Insurify is projecting insurance rates to rocket higher in 2024.

A study by the company found insurance rates in Kansas have increased 27% since 2021. Additionally, Insurify is projecting a 24% increase in Kansas car insurance rates in 2024.

A combination of multiple factors, including climate-driven natural disasters, inflation and the soaring prices of new cars, among others, is projected to send premiums rocketing higher in 2024, according to a study by online insurance marketplace Insurify.

The average price of a new vehicle in July was $48,401, according to Kelley Blue Book, up from roughly $36,000 during 2019 before the pandemic. Higher prices and more expensive parts make it costlier for insurance companies to cover accidents.

“The severity is really the thing that has influenced rates more over the last two years than anything,” Greg Smolan, vice president of insurance operations at AAA Northeast, told the Associated Press. “A fender bender in the past didn’t have all the sensors and cameras.”

After rates climbed 15% nationwide in the first half of the year, Insurify projects coverage to spike 22% during 2024, but some states will be hit especially hard.

Thanks in part to severe storms and wildfire damage that resulted in massive payouts, three states are set to experience increases over 50%, the study found: California (54%), Missouri (55%) and Minnesota (61%).

Some other data contributing to higher insurance rates in Kansas included:

• 26th in the nation for miles driven with 7,967 miles on average.
• 12th in the nation for drivers with speeding tickets
• 22nd in the nation for drivers with reported accidents
• 15th in the nation for drivers with DUIs
• 15th in the nation for drivers with reported incidents

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The Associated Press contributed to this report.