Philadelphia, Pennsylvania (PRWEB) October 05, 2012
More than 54,500 Pennsylvania car insurance policyholders are set to see fluctuations starting this month in the amount they pay for coverage upon renewal, according to a new analysis of auto insurer rate filings from Online Auto Insurance News (OAIN).
Of those affected policyholders, about 25 percent will see decreases in rates, while the remaining 75 percent is likely to see higher rates.
The rate increases run from an additional 2 percent to an 8.4 percent hike, with the average increased annual cost per policyholder ranging from $12.82 at one company to $231.90 at another.
For the one company where rates will be going down, the average decrease per policyholder amounts to $37.80 a year.
To ensure that these new developments don’t negatively affect the price you’re paying for coverage, it might be wise to run an auto insurance comparison of multiple companies to ensure that your provider is still the most reasonably priced option for your unique situation.
There’s a whole spectrum of variables that affect how much an individual pays for coverage, and insurers are constantly reviewing and tweaking the ways that they price policies to compensate for new trends that affect their business.
OAIN reviews publicly available insurer rate filings in states like Pennsylvania in order to get a general idea of where average rates are going, which specific insurers are hiking rates, which are dropping them, and how many people will be affected.
Among the companies that have rate changes going into effect this month in Pennsylvania are GEICO, Progressive, The Hartford, Metropolitan, Horace Mann, Teachers and Integon. You can visit News.OnlineAutoInsurance.com for the full story showing how many policyholders will be affected at each of those insurers and how big the overall increases and decreases are.
For access to an easy-to-use rate-comparison generator to check available premiums in Pennsylvania or any state, head to OnlineAutoInsurance.com.