Yesterday, Investopedia’s Editor-in-Chief Caleb Silver joined NBC News Daily Anchor Kate Snow to explain the cause behind rising auto insurance rates. In the interview, Silver highlighted how insurance premiums are skyrocketing due to personal injury claims and “more insurance fraud.”

KATE SNOW: Car insurance. This is personal for me, Caleb. I lost my car insurance last year, my whole family, because I had a fender bender and one of my kids had a car accident. They cut us off. That’s happening and the rates are going up for a lot of people. What’s going on?

INVESTOPEDIA’s CALEB SILVER: Yeah, higher repair costs. Think about what goes into cars these days. We’re not talking about just mirrors and fenders. We’re talking about semiconductors, lots of electronics. That’s more expensive. Rising crash rates means more payouts, higher medical costs for those folks that are claiming personal injury. That drives your premiums up. More insurance fraud, which is making these car insurance companies have to raise prices to deal with it. And again, they deal with reinsurers as well. So everywhere you look, you’re paying more for insurance. When we look at CPI, consumer price index, insurance is carved out there, but everyone’s looking at food and gas and all the things we pay for on the regular. Well, we write an insurance check almost every month.