Car Insurance Rates Increase Nationally
Miami, FL (PRWEB) November 27, 2013 -- The nation’s drivers are spending more than ever on car insurance. According to a recent report from the Consumer Federation of America (CFA), the average annual amount spent on car insurance in 2010 was 43% higher than the amount spent back in 1989 - a rather dramatic upsurge. In 2010, the average expenditure for auto coverage was $791 - a rate that is $240 higher than the average cost in 1989.
Though the CFA report neglected to factor in inflation rates, this report clearly points to the fact that car insurance rates have increased significantly, especially in the following states: Nebraska (108.1% increase), Louisiana (96.1% increase), Montana: (95.4% increase), Wyoming (95.1% increase), Kentucky (92.3% increase), South Dakota (92% increase), West Virginia (89.9% increase), North Dakota (86.8% increase), Utah (86.1% increase), and Kansas (83.5% increase).
Rates of car insurance in California, however, are an exception to these widespread rate increases. According to the CFA, the state realized a 0.3% decrease in CA car insurance rates. This drop is rather minor and equates to drivers paying $2 less for coverage in 2010 than they did in 1989. The CFA also reports that California car insurance rates in 2010 were lower than 20 states and 6% lower than the nationwide average.
The proposed explanation accounting for this drop involves California’s Proposition 103, an initiative that was passed in 1989. Its approval greatly reduced the cost of car insurance for California drivers and required car insurance companies to obtain prior approval from the California Department of Insurance (CDI) before changing car insurance rates.
The only solution in the face of these nationwide increases is to strongly evaluate options when it comes to purchasing car insurance. Simply put, it is important for individuals to shop insurance regularly and often. In fact, shopping car insurance rates has been shown to generate savings of 15% on average.
Fortunately, there are many resources available designed to help drivers receive the best coverage and rates possible. InsuranceCar.com is one such resource, created to bring together all the most competitive car insurance companies that are hungry to offer drivers protection. InsuranceCar.com is here to help individuals browse car insurance rates online from the nation’s top carriers to choose the best and most affordable coverage.
About InsuranceCar.com
InsuranceCar.com is driven to provide the best possible quotes on car insurance. Get matched with top carriers locally to see all of the car insurance companies, plans, and pricing options upfront. Visit InsuranceCar.com to instantly and conveniently connect with several carriers and agents. Receive quick quotes on car insurance now!
Paul Morris, Insurance Car, http://insurancecar.com/, +1 (800) 805-5195 Ext: 4, [email protected]
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