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No News is Good News: Auto Insurance Rates Drop in 25 States
Consumers can expect less bad news when their auto insurance renewals arrive this month. After record rate increases in 2008, insurance rate quotes from Insurance.com in May held steady with prior months. Prices were higher in 14 states and about the same in 7 states. See all states for a full list.
Show All StatesRate Changes by State
| State | May 2009 Premium | $$ Changes | % Changes |
|---|---|---|---|
| AL | $1641 | $34 | 2.1% |
| AR | $1935 | ($43) | -2.2% |
| AZ | $1737 | $7 | 0.4% |
| CA | $1848 | $29 | 1.6% |
| CO | $1582 | ($51) | -3.1% |
| CT | $2109 | $34 | 1.7% |
| DC | $2710 | ($95) | -3.4% |
| DE | $2367 | ($74) | -3.1% |
| FL | $2024 | $53 | 2.7% |
| GA | $1693 | $12 | 0.7% |
| IA | $1425 | $19 | 1.3% |
| ID | $1315 | ($77) | -5.5% |
| IL | $1546 | ($31) | -2.0% |
| IN | $1524 | ($12) | -0.8% |
| KS | $1572 | ($63) | -3.8% |
| KY | $1996 | $30 | 1.5% |
| LA | $2518 | ($55) | -2.1% |
| MD | $2304 | $61 | 2.7% |
| ME | $1346 | ($29) | -2.1% |
| MI | $2011 | ($81) | -3.9% |
| MN | $1630 | ($34) | -2.0% |
| MO | $1581 | ($50) | -3.1% |
| MS | $1860 | ($85) | -4.4% |
| MT | $1582 | ($50) | -3.0% |
| NC | $1618 | $35 | 2.2% |
| ND | $1537 | ($72) | -4.5% |
| NE | $1539 | $25 | 1.7% |
| NH | $1502 | $28 | 1.9% |
| NJ | $2742 | $92 | 3.5% |
| NM | $1809 | ($7) | -0.4% |
| NV | $2059 | ($11) | -0.5% |
| NY | $2484 | ($73) | -2.9% |
| OH | $1304 | ($46) | -3.4% |
| OK | $1801 | ($70) | -3.8% |
| OR | $1595 | $17 | 1.1% |
| PA | $2184 | ($55) | -2.4% |
| RI | $2292 | ($25) | -1.1% |
| SC | $1711 | $40 | 2.4% |
| SD | $1397 | ($122) | -8.0% |
| TN | $1509 | ($3) | -0.2% |
| TX | $1915 | ($6) | -0.3% |
| UT | $1653 | ($127) | -7.2% |
| VA | $1623 | ($41) | -2.5% |
| VT | $1302 | ($30) | -2.2% |
| WA | $1780 | ($57) | -3.1% |
| WI | $1365 | $13 | 1.0% |
| WV | $1975 | ($53) | -2.6% |
| WY | $1729 | ($171) | -9.0% |
Largest Rate Increases
- New Jersey3.5%
- Maryland2.7%
- Florida2.7%
- South Carolina2.4%
- North Carolina2.2%
Largest Rate Decreases
- Wyoming-9.0%
- South Dakota-8.0%
- Utah-7.2%
- Idaho-5.5%
- North Dakota-4.5%
U.S. Auto Insurance Rates Decline to $1,871 Annually
Auto rates quoted in May held steady with the last several months and are now at their lowest point in the last 12 months. The lowest average annual car insurance quotes decreased just $1 from $1,872 per year to $1,871 annually. Rates increased 8% in total in 2008.
Time for a New Car - and a New Policy?
"While new car sales are still well below last year, Edmunds.com predicts that June new car sales will be up almost 9% over May 2009. Whether your new car choice is a hybrid or a hot new sports car, spend 30 minutes comparing car insurance rates before you buy. If you can save $40 a month, like Insurance.com shoppers, that savings can go to your monthly car payment!"
- 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.
Car Insurance Makeover: What Not to Do
- Don't file a claim. If you backed into the house, think twice about submitting a claim. Your rate may go up at renewal, and that small claim might affect rates next time you shop. An at-fault incident stays on your record for three years, and some companies look back five years when deciding to offer you a quote.
- Don't buy state minimum coverage. It's just not enough for most drivers. There's a good chance those minimums won't come close to covering the costs of a serious accident - which means you could be paying more than you bargained for if you're at fault.
- Don't write checks. Many companies offer incentives for choosing paperless statements or using electronic payment plans (EFT). Even signing your policy with an e-signature will help. And, if you pay electronically, some companies will waive their monthly installment or service fees.
$527 New Customer Savings: May 2009
Drivers who reported savings after switching car insurance companies at Insurance.com showed annual savings of $527. Savings vary by state. Savings reported by new customers in May, 2009.
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