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Later in this email, Clark explains why you shouldn’t “just say yes” to huge insurance premium increases.

💵 Today’s Top Stories
Discount

Spring is about to arrive, and that means deals on grills, outdoor furniture, gardening supplies and even select airfare to spring break-friendly spots. Read more.

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TurboTax, H&R Block and others try to entice you to get your tax refund this way. No matter how sweet it sounds, they’ll hammer you with hidden junk fees. Read more.

Watch TV stream

Have you ditched cable but want a free option to stream local news and weather without an antenna? This streaming service may be worth trying. Read more.

Work

Remote work has become normal for millions of Americans. But not all employers are created equal. These are the best companies to work for remotely. Read more.

Electric Vehicle

Even Clark, an EV driver for 14 years, doesn’t think renting an EV in Europe sounds like much fun in 2024. But he reveals the year he thinks it will be much smoother. Read more.

🏠️ Today’s Current Mortgage Rates

According to Freddie Mac, 30-year mortgage rates are 6.94% and 15-year rates are 6.26% as of February 29, 2024. The following chart shows the 30-year mortgage rate trend over the last year.

Mortgage Rates
🚘️ These Auto Insurance Increases Can Dent Your Budget If You Allow It

The fact that auto and home insurance premiums are reaching unfathomable levels isn’t new.

However, the exact numbers are shocking.

State Farm just suffered a net loss of $6.3 billion in 2023 after losing $6.7 billion in 2022. It’s no wonder these companies are getting aggressive about finding more revenue.

The average auto insurance increased by 20.3% in 2023.

Remember, states regulate the rate increases that insurance companies are allowed to pursue. According to Clark, a lot of state insurance departments are “captive regulators” who “are not impartial … they’re allies of the insurance industry.”

Recently, the L.A. Times reported on the following approved average premium increases for auto insurance in California:

  • Allstate: +30%

  • State Farm: +21%

  • Geico: +12.8%

“The numbers are from California. It will vary state by state. But it’s a proxy for the country,” Clark says.

“You can have no at-faults and no changes to your driving record and you can have an increase as high as 55% at Allstate.”

The entire industry is facing the same trend. But not in equal intensity. So remember you’re not a sitting duck and comparison shop if your insurance provider wants you to swallow a giant price increase.

📊 Stat of the Day

💸 $1.8 million: Illegal stock gains that a BP manager’s husband made when working from home and eavesdropping on his wife’s work call about an upcoming acquisition. His wife was unaware but got fired anyway. She divorced him and he faces up to five years in prison for insider trading in addition to fines.

💰️ Deal Alert: Today’s Top Deals
Amazon box
Best Buy store
🎙️ Podcast

It’s time for "Clark Stinks!" Christa reads the latest "Clark Stinks!" submissions and Clark responds. Also, there are a lot of ways to book a hotel: direct, third-party sites, credit card travel portals, etc. Clark is seeing an increase in booking issues in one of these options and shares everything you need to know before you plan your next trip.

☎️ Need Money Help?

The Team Clark Consumer Action Center is a free helpline that can help you navigate your money questions. Call 636-492-5275. Visit clark.com/cac for more information.

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