If you are a working adult or even a 16-year-old just starting your driving experience, you likely know that prices for just about everything are continuing to rise. Included in that is the price of insuring your car.

But as Fox Business Network recently reported, the cost of insurance is rising much faster or higher than the cost of consumer goods, even the cars being insured.

Data shows that consumer prices for the month of march rose about 0.4 percent nationwide. Meanwhile, during the same month, car insurance premiums rose a whopping 2.6 percent.

Looking at the bigger picture, this means that car insurance has risen a massive 22.2 percent in one year, the fastest yearly rate hike ever. It also means that we are paying 50 percent more than we did for car insurance in 2021.

And unfortunately, it doesn’t look as though it will be getting any better or cheaper any time soon.

But why?

Well, to put it quite simply, it’s Bidenflation.

As Shannon Martin of Bankrate explains, “Car insurance tends to be very reactionary, so in the past few years, the industry has experienced a lot of losses during a time when inflation has caused the cost of vehicle parts, different products, and repair costs, to increase.”

Broken down, there are four basic reasons car insurance is soaring at the moment.

Cost of Parts and Repairs

As Martin mentioned, thanks to inflation, the cost of replacement parts and even initial manufacturing parts has gone up in recent years. So this means that when a car has issues, whether it be due to an accident or just gradual wear and tear, repair costs have gone up. Naturally, seeing as how car insurance has to pay for those repairs, rates, and premiums are then forced up.

A Lack of Trained Mechanics

Another issue causing insurance prices to rise is that there is an increasing lack of available auto mechanics to actually repair and work on vehicles. In fact, the number of newly graduated auto mechanics is down about 20 percent from what it was in 2020.

So, as you can imagine, fewer available mechanics means the cost of getting your car worked on is even higher.

Supply Chain Issues

Since the pandemic, America and much of the world have experienced a whole slew of supply chain issues due to COVID lockdowns, new safety procedures, etc. As a result, many car parts just aren’t as available as they used to be, and those that are have higher shipping costs.

Naturally, shipping delays and the overall lack of parts cause repair costs to go up even more, and so then do your insurance rates.

Rising Traffic Fatalities

Last but certainly not least on the list is that the number of fatalities in the previous few years due to car or traffic accidents has gone up significantly.

According to data from the National Highway Traffic Safety Administration, traffic fatalities reached a 16-year high in 2021, with 42,915 deaths. This is a 10.5 percent increase compared to just one year before when there were 38,824 traffic fatalities in 2020.

Again, this is what insurance is there for: to cover the costs of traffic accidents and their results. And since the likelihood of dying in a car crash has apparently gone up, so must the cost of insuring your car and any injuries that may occur.

To be clear, it’s all pretty understandable why car insurance prices are rising. What isn’t so understandable is why inflation still is, which, as you can tell, is the main reason behind it all. The only reasonable explanation is simply Joe Biden and his destructive administration.

After all, it was Biden’s administration who approved these premium hikes even as the pandemic was just starting to cause inflation.

It’s all just another reason why we need a new administration.