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Car Insurance Rates drop in 19 states in March
With fewer new cars on the road and less disposable income, lower rates in 19 states were a welcome sight. Following a year of record rate increases in 2008, fewer insurance companies filed rate increases this quarter. The average rates quoted in March were higher than February's rates in 15 states and were essentially unchanged in 13 states. See all states for a full list. Show All StatesRate Changes by State
| State | March 2009 Premium | $$ Changes | % Changes |
|---|---|---|---|
| AL | $1611 | $29 | 1.8% |
| AR | $1929 | $17 | 0.9% |
| AZ | $1739 | ($93) | -5.1% |
| CA | $1813 | ($15) | -0.8% |
| CO | $1611 | ($28) | -1.7% |
| CT | $2095 | ($56) | -2.6% |
| DC | $2862 | ($18) | -0.6% |
| DE | $2520 | $11 | 0.4% |
| FL | $2015 | $8 | 0.4% |
| GA | $1626 | ($46) | -2.7% |
| IA | $1335 | ($32) | -2.3% |
| ID | $1396 | $14 | 1.0% |
| IL | $1559 | $19 | 1.2% |
| IN | $1528 | $25 | 1.7% |
| KS | $1668 | $4 | 0.3% |
| KY | $1984 | ($52) | -2.6% |
| LA | $2617 | $3 | 0.1% |
| MD | $2144 | ($48) | -2.2% |
| ME | $1406 | $59 | 4.3% |
| MI | $2076 | ($49) | -2.3% |
| MN | $1728 | $97 | 5.9% |
| MO | $1629 | $5 | 0.3% |
| MS | $1953 | $19 | 1.0% |
| MT | $1573 | ($39) | -2.4% |
| NC | $1577 | ($42) | -2.6% |
| ND | $1722 | $58 | 3.5% |
| NE | $1625 | $91 | 5.9% |
| NH | $1504 | ($64) | -4.1% |
| NJ | $2556 | $14 | 0.5% |
| NM | $1845 | ($16) | -0.9% |
| NV | $2142 | ($40) | -1.9% |
| NY | $2905 | ($581) | -16.7% |
| OH | $1320 | $1 | 0.1% |
| OK | $1900 | $54 | 2.9% |
| OR | $1586 | ($23) | -1.4% |
| PA | $2248 | $65 | 3.0% |
| RI | $2356 | ($32) | -1.3% |
| SC | $1638 | ($24) | -1.5% |
| SD | $1550 | $97 | 6.7% |
| TN | $1563 | $1 | 0.0% |
| TX | $1921 | ($55) | -2.8% |
| UT | $1864 | ($35) | -1.9% |
| VA | $1667 | ($78) | -4.5% |
| VT | $1304 | $47 | 3.7% |
| WA | $1882 | $34 | 1.8% |
| WI | $1348 | ($28) | -2.0% |
| WV | $2095 | $76 | 3.8% |
| WY | $1934 | $16 | 0.9% |
Largest Rate Increases
- South Dakota6.7%
- Minnesota5.9%
- Nebraska5.9%
- Maine4.3%
- West Virginia3.8%
Largest Rate Decreases
- New York-16.7%
- Arizona-5.1%
- Virginia-4.5%
- New Hampshire-4.1%
- Texas-2.8%
Auto Insurance Rates Drop to $1,879; down $103 from 12 month high
March auto rates continued to decline. The lowest annual car insurance quotes, on average, decreased from $1,888 per year to $1,879 annually. The highest rates in the past 12 months were quoted in October 2008. Rates increased 8% in total in 2008.
Consumers can expect lower rates this quarter
"Consumers who shopped for car insurance recently saw rates that were $100 lower on average than rates quoted last fall. Most policies renew every six months, so consumers whose policies were affected by rising prices in late 2008 should compare rates before their next renewal."
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 each year.
RateWatch Consumer Research: March 2009
What was the most important reason you shopped for insurance recently?
| 44% | The amount I was paying for car insurance was simply too high. |
| 22% | I got my renewal bill and the rate went up. |
| 8% | Bought a new or used car and needed to add it to my policy. |
| 7% | I experienced financial trouble, such as a change in jobs or increasing bills. |
| 7% | I had a bad customer service experience with my prior insurer. |
| 4% | Moved |
| 8% | Other reasons |
$554 New Customer Savings: March 2009
Our study of 3,639 drivers who reported savings after switching car insurance companies at Insurance.com showed annual savings of $554. Savings vary by state. Savings reported by new customers in March, 2009.
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