Auto insurance rates increased nationally in January, rising $23. The lowest average annual car insurance quotes rose from $1,821 per year to $1,844 annually. January's rate jump replaces December's as the largest month-to-month increase since October 2008.
Car insurance rates increased 8 percent in total in 2008, but dropped dramatically in December 2008 and remained relatively level throughout 2009. The increases in December 2009 and January, while not drastic, could signal a shift toward higher rates in 2010.
"It's too early to call it a trend, but it should be a signal to shoppers that now is a great time to shop for car insurance," says Sam Belden, insurance.com VP. "Check that you're receiving all the discounts you're eligible for and compare quotes so you're confident you are getting the lowest premium for the coverage you need - and want."
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