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RateWatch Archives
Car Insurance Rates Hold Steady in January
Following a year of record increases in 2008, consumers saw moderate price changes in January with rates increasing 1% or more in 23 states. Rates were up 5% or more in Montana, Nebraska, North Dakota, Oregon, South Dakota and Washington. The average rate quoted was lower than December's rates in only 10 states and rates were essentially unchanged in 14 states. Show All StatesRate Changes by State
| State | January 2009 Premium | $$ Changes | % Changes |
|---|---|---|---|
| AL | $1641 | $18 | 1.1% |
| AR | $1967 | ($6) | -0.3% |
| AZ | $1811 | ($28) | -1.5% |
| CA | $1839 | ($3) | -0.2% |
| CO | $1685 | $77 | 4.8% |
| CT | $2091 | ($77) | -3.5% |
| DC | $3152 | $143 | 4.8% |
| DE | $2491 | $10 | 0.4% |
| FL | $2062 | ($3) | -0.1% |
| GA | $1674 | ($16) | -0.9% |
| IA | $1288 | $46 | 3.7% |
| ID | $1360 | $1 | 0.1% |
| IL | $1540 | ($2) | -0.1% |
| IN | $1522 | ($0) | -0.0% |
| KS | $1737 | $37 | 2.2% |
| KY | $1999 | $25 | 1.3% |
| LA | $2631 | $8 | 0.3% |
| MD | $2193 | $56 | 2.6% |
| ME | $1358 | $18 | 1.4% |
| MI | $2118 | $63 | 3.1% |
| MN | $1661 | $40 | 2.5% |
| MO | $1637 | ($23) | -1.4% |
| MS | $1993 | $10 | 0.5% |
| MT | $1658 | $79 | 5.0% |
| NC | $1683 | $66 | 4.1% |
| ND | $1652 | $107 | 6.9% |
| NE | $1650 | $110 | 7.2% |
| NH | $1563 | $51 | 3.4% |
| NJ | $2507 | ($22) | -0.9% |
| NM | $1877 | $3 | 0.2% |
| NV | $2182 | $49 | 2.3% |
| NY | $2800 | ($31) | -1.1% |
| OH | $1325 | $17 | 1.3% |
| OK | $1841 | $12 | 0.7% |
| OR | $1640 | $133 | 8.9% |
| PA | $2291 | $46 | 2.1% |
| RI | $2469 | ($37) | -1.5% |
| SC | $1601 | ($31) | -1.9% |
| SD | $1520 | $72 | 5.0% |
| TN | $1576 | $8 | 0.5% |
| TX | $1976 | $55 | 2.9% |
| UT | $1825 | ($21) | -1.1% |
| VA | $1684 | $24 | 1.5% |
| VT | $1425 | ($51) | -3.5% |
| WA | $1894 | $100 | 5.6% |
| WI | $1340 | ($38) | -2.7% |
| WV | $2093 | ($94) | -4.3% |
| WY | $1819 | ($42) | -2.3% |
Largest Rate Increases
- Oregon8.9%
- Nebraska7.2%
- North Dakota6.9%
- Washington5.6%
- South Dakota5.0%
Largest Rate Decreases
- West Virginia-4.3%
- Vermont-3.5%
- Connecticut-3.5%
- Wisconsin-2.7%
- Wyoming-2.3%
U.S. Car Insurance Rates Averaged $1,908 Annually
Consumers saw good news when shopping for car insurance in January. Rates increased less than 1% nationally. The lowest annual car insurance quotes, on average, were up only $3-rising from $1,905 to $1,908 per year, an increase of .2% over December 2008 rates. Rates were up 8% in total last year.
"After an 8% overall rate increase in 2008, the January RateWatch brings good news to some consumers. Rates dropped or went unchanged in 24 states, but rose significantly in several others. With rates fluctuating across the country, now is a good opportunity for consumers to compare rates online."
About RateWatch for Car Insurance
- RateWatch reports the lowest average annual car insurance rates quoted to consumers who compared rates at Insurance.com.
- The rates in this study came from more than a dozen leading auto insurers in 46 states and the District of Columbia. Alaska, Hawaii, Massachusetts and New York are not included.
- More than 1 million drivers get comparison quotes from Insurance.com each year.
About RateWatch
RateWatch for Car Insurance compares the lowest average annual car insurance rates quoted to consumers by Insurance.com in January 2009 to the rates quoted in December 2008. The rates consumers viewed, but didn't necessarily purchase, came from auto insurance quotes consumers received from over a dozen of the nation's leading auto insurers. Insurance.com provides car insurance quotes to more than 1 million people visiting the website or calling for a quote each year. While RateWatch is a broad indicator of pricing activity in the personal auto insurance marketplace, it is not a comprehensive index as it reflects only the quotes of companies Insurance.com represents in the 46 states where it quotes (all states except Alaska, Hawaii, Massachusetts and New York).
Driving your car for another year? Protect your investment.
- Understand your warranty . Some parts include 5 or 10 year warranties. Should you worry if the manufacturer doesn't get a bailout? How do you find parts for an old car?
- Insure your gadgets . If you decide to upgrade your ride, be sure to buy coverage for non-factory installed equipment. When you install a new sound system, navigation device or DVD player, you might need more auto insurance coverage.
- Avoid Uninsured Drivers . Easier said than done, as a new study shows that more than 20% of all drivers in New Mexico, Mississippi, Alabama, Oklahoma or Florida are uninsured. To protect yourself, always buy Uninsured Motorists coverage-and buy UM Property Damage coverage, too.
New Customer Savings Snapshot: January 2009
Our study of 4,249 drivers who reported savings after switching car insurance companies at Insurance.com showed annual savings ranging from hundreds to thousands of dollars. Savings vary by state. Savings reported by new customers in February, 2009.
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