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RateWatch Archives
16 States Experience Greater Than Average Rate Increases
Consumers in 16 states saw rate increases greater than the 1% national average. There were 15 states with decreases and 17 states where the change was less than one percent. Show All StatesRate Changes by State
| State | 1st Quarter 2008 Premium | $$ Changes | % Changes |
|---|---|---|---|
| AL | $1762 | $11 | 0.6% |
| AR | $1728 | ($29) | -1.6% |
| AZ | $1868 | $3 | 0.2% |
| CA | $1826 | $31 | 1.7% |
| CO | $1478 | $9 | 0.6% |
| CT | $2025 | ($5) | -0.3% |
| DC | $2516 | ($72) | -2.8% |
| DE | $2377 | ($88) | -3.6% |
| FL | $2031 | $125 | 6.6% |
| GA | $1622 | $50 | 3.2% |
| IA | $1277 | ($38) | -2.9% |
| ID | $1377 | ($36) | -2.5% |
| IL | $1512 | ($10) | -0.6% |
| IN | $1407 | $8 | 0.6% |
| KS | $1539 | $30 | 2.0% |
| KY | $1936 | ($159) | -7.6% |
| LA | $2673 | $31 | 1.2% |
| MD | $2165 | $29 | 1.4% |
| ME | $1281 | ($71) | -5.2% |
| MI | $1959 | ($68) | -3.4% |
| MN | $1539 | $1 | 0.1% |
| MO | $1569 | $31 | 2.0% |
| MS | $1964 | $40 | 2.1% |
| MT | $1587 | ($22) | -1.4% |
| NC | $1635 | $1 | 0.1% |
| ND | $1608 | ($81) | -4.8% |
| NE | $1498 | $1 | 0.1% |
| NH | $1488 | $30 | 2.1% |
| NJ | $2498 | ($18) | -0.7% |
| NM | $1806 | $44 | 2.5% |
| NV | $2104 | $13 | 0.6% |
| NY | $2280 | ($106) | -4.5% |
| OH | $1279 | $59 | 4.8% |
| OK | $1652 | $24 | 1.4% |
| OR | $1511 | $42 | 2.9% |
| PA | $2049 | $82 | 4.2% |
| RI | $2180 | ($20) | -0.9% |
| SC | $1597 | $9 | 0.5% |
| SD | $1458 | ($27) | -1.8% |
| TN | $1587 | ($38) | -2.3% |
| TX | $1777 | $41 | 2.4% |
| UT | $1623 | ($10) | -0.6% |
| VA | $1566 | $12 | 0.8% |
| VT | $1440 | $12 | 0.8% |
| WA | $1835 | $30 | 1.6% |
| WI | $1237 | ($36) | -2.8% |
| WV | $2087 | $17 | 0.8% |
| WY | $1894 | ($12) | -0.7% |
Maps.
Largest Rate Increases
- Florida6.6%
- Ohio4.8%
- Pennsylvania4.2%
- Georgia3.2%
- Oregon2.9%
Largest Rate Decreases
- Kentucky-7.6%
- Maine-5.2%
- North Dakota-4.8%
- New York-4.5%
- Delaware-3.6%
U.S. Car Insurance Rates Start to Increase
Insurance.com RateWatch for Car Insurance reports changes in actual car insurance quotes. This quarter, the lowest car insurance quotes, on average, were up $29, an increase of 1% over the prior quarter, rising to $1,830 per year. This marks the first time rates have increased in almost a year.
Chart
"The rate increases we are seeing in the first quarter are relatively small, but they represent a turning point for auto premiums, which had been holding steady or declining over the past four quarters in most states."
- RateWatch is a leading indicator of trends in auto insurance rates. It analyzes the lowest average car insurance rates quoted to consumers who compared rates at Insurance.com in the 1st quarter.
- This quarter’s increase suggests that insurance companies are beginning to respond to increases in the amount paid on injury claims, fueled by rising medical costs.
- The rate quotes in this study came from more than a dozen leading auto insurers in 47 states and the District of Columbia. AK, HI and MA are not included.
Insurance Tips to Help You Save
- Earn an early shopping discount. Many auto insurance companies offer discounts to your premium if you shop well in advance of your current policy expiration date. If you were considering switching companies, and give your new auto insurance company enough notice (usually two weeks) before your current policy is up for renewal, you might receive significant savings on your new policy.
- Look for "good student" discounts. Some auto insurance companies offer discounts on policies with teen drivers if they have a B or better grade average at school. Of course, proof of those good grades is required, but good students can sometimes help parents save as much as a 10-15% on car insurance.
- Take a defensive driving course. Some companies offer a discount for a Defensive Driving Course, usually if taken within 3 years. So, you’ll get a double bonus – you can learn ways to avoid accidents – and save money on your car insurance at the same time.
- Shop for auto insurance before buying a car. The cost to insure different cars can vary as much as the cars themselves. Insurers base premiums on a number of factors including crashworthiness, repair costs and theft rate.
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