The Daily Money: Car insurance is getting pricey

Good morning! It's Daniel de Visé with your Daily Money.

If you think your food bill is high, take a look at your car insurance. 

The average cost of full coverage car insurance increased by 26% to $2,543 in 2024, up $529 from a year earlier, Medora Lee reports. That’s six times faster than overall inflation and more than any food item at the grocery store, including eggs, over the past three years. 

And the rise isn't over, analysts say. Read the story.

Capital One gobbles up Discover

Bank merger news: Capital One is acquiring Discover Financial Services in an all-stock transaction valued at $35.3 billion, Gabe Hauari reports.

Capital One shareholders will own 60% of the combined company, while Discover shareholders will own 40%.

Discover's payments network has 70 million merchant acceptance points in more than 200 countries and territories, making it the smallest of the four US-based global payments networks, trailing Visa, Mastercard and American Express. If approved, the merger could make Discover more competitive with the bigger brands.

Read the story.

📰 More stories you shouldn't miss 📰

• Some strange tax deductions
• How to ask your boss for a cost-of-living increase
• What's the average salary in 2024?

🍔 Today's Menu 🍔

And now, back to Gabe Hauari: The man has range.

Red Lobster is offering 150 customers across the country the chance to enjoy "endless amounts of lobster," on the house.

Starting Tuesday, Feb. 20, and while supplies last, U.S. residents will have the chance to win one complimentary two-hour seating to enjoy endless lobster at the Red Lobster of their choosing.

Oh, wait: The offer is not actually endless. There's a maximum of 12 lobsters. If you have room for more, the 13th is on you. Read the story.

About The Daily Money

Each weekday, The Daily Money delivers the best consumer news from USA TODAY. We break down financial news and provide the TLDR version: how decisions by the Federal Reserve, government and companies impact you.

Daniel de Visé covers personal finance for USA Today.