Former President Donald Trump’s recent promise to cut auto insurance premiums in half drew sharp criticism from industry experts. He claimed that premiums have risen 73%, a figure that “seems to have no basis in fact,” according to Robert Hartwig, economist and professor at the University of South Carolina. Hartwig explained that while auto insurance rates have increased, the 73% figure aligns with data since September 2016, before Trump took office. He added, “Insurance—and insurance rates—are regulated by the states, not the federal government.” Other experts, like David Sampson, noted that rising premiums stem from higher costs for vehicle repairs, parts, and increasing claim severity. Read more from the article by clicking here.