Insurance.com Says Car Insurance Rates Dropped in 2009

Posted in Auto Insurance

December 10th, 2009

A new report from insurance website Insurance.com revealed that car insurance rates have dropped dramatically in 2009. According to its RateWatch report, insurance rates across the nation have dropped 3.5 percent in $1,803 per year.

Better than the Last Few Years

Last year’s RateWatch report showed an increase of eight percent in auto insurance rates. However, this year’s drop to $1,803 is actually lower than 2007′s average $1,810 annual insurance cost. According to the auto insurance, this year’s rate cuts have allowed savvy auto insurance shoppers to save money on their premiums when purchasing new policies.

Rates are Expected to Continue the Decline

According to Insurance.com, rates are expected to continue falling into 2010, or at the very least, hold steady. This means it’s a great time to shop with different providers, many of which can be found here on Go Insurance Rates.

However, it’s good to keep in mind that while rates dropped overall, there have been ups and downs state by state. For instance, in Vermont, Idaho and West Virginia, rates dropped up to 9 percent. However, in Colorado and Washington State, rates increased up to 4 percent.

The best way to know what rates are being offered in your area is to simply shop around until you find the best rate for you.

Find out more about how to find affordable auto insurance rates.