More commuters on the road could mean higher auto insurance rates

(InvestigateTV) — Traffic on the way to work is not just costing commuters time — it may be costing them money too. A new NerdWallet analysis finds a record number of vehicles are now being used just to commute, and that increase could be a factor in rising insurance costs.

According to NerdWallet, about 27% of Americans say their auto insurance premium went up in the last year.

Kaz Weida, an insurance expert at NerdWallet, said the trend starts with the rising cost of vehicles. The average new car now costs around $50,000.

“Anytime we talk about more vehicles on the road, more drivers, bigger stretches of time behind the wheel, we start talking about is there a greater risk of accidents — and that’s certainly the case when you get greater traffic density,” Weida said. “And it’s something that could eventually feed into insurance premiums.”

NerdWallet’s car ownership cost index shows overall expenses jumped 11% between 2024 and 2026, with much of that increase occurring this year, largely due to higher gas prices.

Weida recommends comparing insurance policies regularly to find savings.

“When we did our survey with Harris Polling, we found only one in five auto insurance policyholders had actually shopped for a policy in the last year,” Weida said. “There could be comparable coverage out there, cheaper out there, and you just don’t know about it. It’s pretty easy to get quotes online.”

Weida said the purchase price of a new vehicle is not the only cost to consider. Mileage and how much a specific car costs to insure can vary significantly, since some vehicles are cheaper to insure than others.