The burgeoning gasoline prices, geographical location, and personal profile of an automobile owner are a few factors that contribute to the varying rates of automobile insurance. Each element has a definite role to play in securing suitable insurance. It makes for an interesting study when comparing the various rates you can arrive at by varying one or more of the factors mentioned earlier. With so many companies offering to give you the best deal, a thorough survey must be done before settling on a particular value. Moreover, you don’t need to open any directory or set foot outside your home to shop around. Online services have solved the problem for you. The best quote can be a click away! The company websites collect a lot of personal information from an individual to consider all possible factors that go into building up an arbitrary sum for the insurance policy.
Auto Insurance Pricing Report – 2005
A “Auto Insurance Pricing Report,” released by Insurance.com in 2005, has unrevealedome fascinating facts for us to ponder. According to this report, auto insurance rates have decreased in 2005. depending on geographic locationThe nation’s major states have reported a sharp decline compared to earlier figures. A resident of New York paid an average of $3,165 for auto insurance in 2005, showing a 3.4% decrease compared to 2004 rates. Similarly, people from Minnesota have produced an average of $2,172.91, an incredible 8.4% less than in 2004. However, not all states have fared as well. Few have recorded a marginal rise in insurance rates.
Interestingly, the increase in gasoline prices has been instrumental in decreasing insurance rates. The spiraling gas prices are forcing automobile owners to drive their vehicles less. According to Lou Geremia, President of Insurance.com, a cutthroat competition that has gripped the auto insurance companies has resulted in a fall in insurance rates. “We anticipate auto insurance rates will continue to fall in 2006, making frequent comparison shopping for auto insurance an important tool for consumers who want to save money,” he added. A comprehensive report can be viewed at the following links:
