RateWatch Archives

Auto Insurance Rates drop in 20 states and D.C. in April 2009

With fewer new cars purchased and consumers choosing to buy less coverage, we saw lower rates in 20 states and the District of Columbia this month. Following a year of record rate increases in 2008, the average rates quoted in April were higher than March rates in 11 states and were essentially unchanged in 16 states. See all states for a full list.

Show All States
Maps.

Largest Rate Increases

  • Iowa5.3%
  • Maryland4.6%
  • Montana3.8%
  • New Jersey3.7%
  • Georgia3.4%

Largest Rate Decreases

  • New York-12.0%
  • Nebraska-6.8%
  • North Dakota-6.6%
  • Utah-4.5%
  • Minnesota-3.8%

U.S. Auto Insurance Rates Drop to $1,872 Annually

 

April auto rates continued to decline. Average annual quotes match the rate level available to consumers exactly one year ago. The lowest average annual car insurance quotes decreased from $1,879 per year to $1,872 annually. Rates increased 8% in total in 2008.

Chart

Rates quoted drop $96 since November

"Part of the decrease in market pricing comes from consumer choices about how much coverage to buy or whether to let a policy lapse when money is tight. Protecting yourself and your passengers with Uninsured Motorist coverage remains critically important."

-Sam Belden Ex-VP, Strategic Alliances

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 insurance companies in 46 states and the District of Columbia.
  • More than 1 million drivers get comparison quotes from Insurance.com each year.
More Information

RateWatch Consumer Research: Teens and cars and insurance

 

  • Adding a teen driver to your auto insurance will increase the cost from $800 to $3,000 or more. A Good Student discount can save $80 to $300 a year.
  • The best states for teen driver insurance rates are Iowa, Wisconsin, Ohio, Idaho and Vermont.
  • The most expensive states for families with teen drivers are Florida, Nevada, Connecticut, New Jersey and Louisiana.
  • Families in Montana, New Jersey, Nevada, Rhode Island and Michigan could save the most by shopping, because rates varied almost $3,000 from the lowest quote to the highest.
Research study conducted in April 2009 with consumers shopping by phone or online with Insurance.com in 2009.

 

$538 New Customer Savings: April 2009

 

Our study of almost 3,000 drivers who reported savings after switching car insurance companies at Insurance.com showed annual savings of $538. Savings vary by state. Savings reported by new customers in April, 2009.

Chart
Give your feedback