Insurance companies have ramped up advertising while simultaneously raising premiums drastically. Progressive spent $1.22 billion in 2023 to capture the NFL audience but decreased its budget due to inflation costs. Overall, this contradiction raises questions about prioritizing marketing over affordable customer premiums.
In recent reports, insurance premiums for homeowners increased by an average of over 11 percent, with U.S. auto insurance polices jumping 22 percent. This follows policy increases of 24 percent in 2023, showcasing a troubling trend of rising costs for consumers.
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