Rate Digest Shows That Vehicle Insurance Jumps To Over 11 Percent Of Total Vehicle Costs According To Study

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According to a recent study, car insurance has increased to 11% of total vehicle costs. Rate Digest shows how to mitigate this increasing cost of car insurance.

Rate Digest

Rate Digest

People have to be able to not only pay for their new vehicle, but also the cost of using it.

According to the Your Drivers Costs study done by AAA, over 11% of the annual cost of an average vehicle is insurance premiums. This follows an across the board increase in vehicle costs, from maintenance costs to fueling.

The Your Driving Costs study is an annual study done by AAA which addresses costs like tire purchase and installation, as well as maintenance of other forms, insurance, vehicle depreciation rate, finance plans and registration, license and taxes.

According to John Neilson, AAA Director of Automotive Engineering and Repair, “Many factors go into the cost calculation of owning and operating a vehicle” but, that “this year, changes in maintenance, fuel and insurance costs resulted in the increases” to $9,122 for the average vehicle.

Of course, Rate Digest asserts, before anyone makes such a substantial purchase as that of a car they should determine the cost of owning and operating, comparing them to current and future finances. People have to be able to not only pay for their new vehicle, but also for the cost of using it.

One of these costs is insurance. As was mentioned, the total costs of owning and operating a vehicle, from small compacts to big minivans, has increased this year. Insurance is no exception. Indeed, insurance costs for those with even the best driving records has jumped up 30 dollars, to $1029; AAA doesn’t state the average costs to those living in high risk areas or have poor driving records.

In order to mitigate the increases in car insurance costs, Rate Digest has developed a car insurance comparison tool to give people cheap car insurance. This resource, provided free of charge, gives people quotes from dozens of big name brands, all competing for their business all from the comfort of their home. Visit http://www.ratedigest.com/ to get cheap car insurance.

About Rate Digest:
Rate Digest is a car insurance comparison tool which saves customers thousands by giving them access to side by side comparisons on auto insurance. Using this tool, customers can get insurance rates as low as $19 per month.

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John Allen
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