Car insurance prices are on the rise: These states have the highest premiums

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The price of car insurance will go up by 7% this year, Insurify estimated, citing some cost stabilization. 

Meanwhile, the U.S. saw an average transaction price of $48,759 for new vehicles in December, Kelley Blue Book reported. That marked a 2.4% drop from the same time during the prior year. 

NEW CAR PURCHASES ARE ON THE RISE, BUT THERE ARE INSURANCE IMPLICATIONS

For used vehicles, people tend to put theirs up for sale at around $26,446, per Kelley Blue Book.