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RateWatch Archives
Auto Insurance Rates Drop in February
Consumers in 21 states saw lower rates on average this month, as auto insurance rates began to stabilize. Following a year of record rate increases in 2008, this is welcome news for consumers. The average rates quoted in February were higher than January's rates in 9 states and were essentially unchanged in 17 states. See all states for a complete list.
Show All StatesRate Changes by State
| State | February 2009 Premium | $$ Changes | % Changes |
|---|---|---|---|
| AL | $1582 | ($59) | -3.6% |
| AR | $1912 | ($55) | -2.8% |
| AZ | $1831 | $20 | 1.1% |
| CA | $1829 | ($10) | -0.6% |
| CO | $1639 | ($46) | -2.8% |
| CT | $2151 | $60 | 2.9% |
| DC | $2880 | ($272) | -8.6% |
| DE | $2509 | $18 | 0.7% |
| FL | $2007 | ($55) | -2.7% |
| GA | $1671 | ($2) | -0.1% |
| IA | $1367 | $80 | 6.2% |
| ID | $1382 | $21 | 1.6% |
| IL | $1540 | $0 | 0.0% |
| IN | $1503 | ($19) | -1.2% |
| KS | $1664 | ($73) | -4.2% |
| KY | $2036 | $37 | 1.9% |
| LA | $2613 | ($18) | -0.7% |
| MD | $2192 | ($0) | -0.0% |
| ME | $1348 | ($10) | -0.8% |
| MI | $2125 | $7 | 0.3% |
| MN | $1632 | ($30) | -1.8% |
| MO | $1624 | ($14) | -0.8% |
| MS | $1934 | ($59) | -3.0% |
| MT | $1612 | ($46) | -2.8% |
| NC | $1620 | ($63) | -3.7% |
| ND | $1665 | $12 | 0.8% |
| NE | $1534 | ($116) | -7.0% |
| NH | $1568 | $4 | 0.3% |
| NJ | $2542 | $35 | 1.4% |
| NM | $1862 | ($15) | -0.8% |
| NV | $2182 | $0 | 0.0% |
| NY | $3486 | $685 | 24.5% |
| OH | $1318 | ($7) | -0.5% |
| OK | $1846 | $5 | 0.2% |
| OR | $1610 | ($30) | -1.9% |
| PA | $2183 | ($108) | -4.7% |
| RI | $2388 | ($82) | -3.3% |
| SC | $1663 | $62 | 3.9% |
| SD | $1453 | ($67) | -4.4% |
| TN | $1563 | ($13) | -0.9% |
| TX | $1976 | ($1) | -0.0% |
| UT | $1899 | $74 | 4.1% |
| VA | $1745 | $61 | 3.6% |
| VT | $1257 | ($168) | -11.8% |
| WA | $1848 | ($46) | -2.4% |
| WI | $1376 | $36 | 2.7% |
| WV | $2020 | ($74) | -3.5% |
| WY | $1918 | $99 | 5.4% |
Largest Rate Increases
- New York24.5%
- Iowa6.2%
- Wyoming5.4%
- Utah4.1%
- South Carolina3.9%
Largest Rate Decreases
- Vermont-11.8%
- District of Columbia-8.6%
- Nebraska-7.0%
- Pennsylvania-4.7%
- South Dakota-4.4%
U.S. Car Insurance Rates Averaged $1,888 Annually
February auto rates dropped 1% compared to January 2009. The lowest annual car insurance quotes, on average, decreased from $1,908 per year to $1,888 annually. Rates were up 8% in total last year.
"Auto insurance rates fell to their lowest point since May 2008. After an 8% overall rate increase in 2008, the February RateWatch data shows one bright spot for the economy. Car insurance rates dropped or were unchanged in 36 states. For drivers who may have needed to let a policy lapse, it's a good time to compare rates online and re-start a policy."
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.
- More than 1 million drivers get comparison quotes from Insurance.com partner companies each year.
Why Wait for an Economic Stimulus Check?
- Spend 15 to 30 minutes comparing rates and save an average of $500 or more. Last month, 22% of our customers reported saving over $800 a year.
- Avoid duplicate coverage . If you already have roadside assistance on your car or a AAA membership, don't buy these coverages on your auto insurance policy.
- Share . Be a hero and share this page with your friends or just tell three people how to save money. Information is power!
New Customers Save $549 a Year!
Our study of 3,842 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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