The Consumer Price Index for auto insurance rose 4 percent for January compared with a year ago, according to the U.S. Department of Labor.
CPI numbers from the department showed that the cost of motor vehicle body work for January compared to a year ago had risen 4.1 percent.
Steve Weisbart, senior vice president and chief economist for the Insurance Information Institute mentioned the increase in body work prices and remarked that it will have an impact on claims. "So, that's probably a good part of the explanation why auto insurance is up," he said
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