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Annual auto insurance rates continue to decline across the United States, reports Insurance.com.
Based on data from the lowest average auto insurance rates viewed by over 1 million car insurance consumers on the Insurance.com 2007 platform through September, auto insurance rates are continuing to decline according to Insurance.com's 2007 Mid-Year Auto Insurance Pricing Report. "As the cost of gas and energy continue to increase, creating a financial burden for many Americans, we are happy to report that car insurance rates continue to decline for many states," reports David Roush, CEO of Insurance.com. "In our 2007 Mid-Year Auto Insurance Pricing Report we saw a 1% decrease in car insurance rates. In our Insurance.com 2007 Third Quarter Auto Insurance Report, that shift continued with a 1.5% decrease in auto insurance rates from 2006." In Insurance.com's 2006 Pricing Report the national average auto insurance premium was $1,916. In Insurance.com's 2007 Third Quarter Auto Insurance Report, that average has dropped to $1,887 - a modest savings, but a nice bonus as the holiday shopping season starts to gear up. So which states saw the biggest decline in car insurance rates? According to the Insurance.com 2007 Third Quarter Auto Insurance Report, North Carolina led the pack for the second time in a row as the state with the largest decrease in car insurance premiums, paying an average of $1,886 for car insurance - a 19.8% decrease from 2006. However, North Dakota crept up the charts to second place, bumping Arkansas down to third, paying an average of $1,725 in auto insurance - a 12.6% decrease from 2006. 10 States with Largest % Decrease in Premium
State | 2006 Premium | 2007 Premium | 2007 Change from 2006 | % 2007 Change from 2006 | NC | $2,261 | $1,886 | -374 | -19.8% | ND | $1,941 | $1,725 | -217 | -12.6% | AR | $2,118 | $1,887 | -231 | -12.2% | SD | $1,812 | $1,624 | -188 | -11.6% | WV | $2,367 | $2,136 | -231 | -10.8% | WY | $2,190 | $1,996 | -194 | -9.7% | RI | $2,553 | $2,340 | -213 | -9.1% | OR | $1,648 | $1,517 | -131 | -8.6% | NE | $1,702 | $1,570 | -132 | -8.4% | DC | $2,753 | $2,547 | -206 | -8.1% |
While many states enjoyed a reprieve in auto insurance costs, not all states were so lucky. In fact, some continued to see an increase in their car insurance premium from January to the end of September. For instance, Nevada remained in the number one spot for the top 10 states with the largest percentage in car insurance premiums, paying an average of $2,080 for car insurance - a 6.6% increase from 2006. Washington remained in the number two spot, paying an average of $1,859 for car insurance - a 3.6% increase from 2006. 10 States with Largest % Increase in Premium
State | 2006 Premium | 2007 Premium | 2007 Change from 2006 | % 2007 Change from 2006 | NV | $1,942 | $2,080 | 138 | 6.6% | WA | $1,792 | $1,859 | 67 | 3.6% | CT | $1,965 | $2,029 | 65 | 3.2% | PA | $1,925 | $1,979 | 54 | 2.7% | TN | $1,548 | $1,590 | 42 | 2.7% | MO | $1,558 | $1,590 | 32 | 2.0% | IN | $1,463 | $1,480 | 18 | 1.2% | VA | $1,575 | $1,584 | 9 | 0.6% | AZ | $1,929 | $1,914 | -15 | -0.8% | IL | $1,556 | $1,541 | -15 | -1.0% |
These findings in the Insurance.com 2007 Third Quarter Auto Insurance Report continue to support Insurance.com's theory that where you live does play a large role in how much you pay for car insurance. This is because auto insurance companies take into account if your area has limited parking, a higher traffic population, a greater theft rate, and the amount of uninsured drivers in your area. So the worse your city's statistics are, the more you will pay for auto insurance. Which states pay the most and least in car insurance premiums? Check out the charts below to find out: 10 Most Expensive State
State | 2006 Premium | 2007 Premium | 2007 Change from 2006 | % 2007 Change from 2006 | LA | $2,833 | $2,730 | -103 | -3.8% | NY | $2,714 | $2,627 | -87 | -3.3% | NJ | $2,737 | $2,574 | -163 | -6.3% | DC | $2,753 | $2,547 | -206 | -8.1% | DE | $2,621 | $2,516 | -105 | -4.2% | RI | $2,553 | $2,340 | -213 | -9.1% | KY | $2,299 | $2,215 | -84 | -3.8% | MD | $2,226 | $2,141 | -85 | -4.0% | WV | $2,367 | $2,136 | -231 | -10.8% | NV | $1,942 | $2,080 | 138 | 6.6% |
10 Least Expensive States
State | 2006 Premium | 2007 Premium | 2007 Change from 2006 | % 2007 Change from 2006 | OH | $1,358 | $1,331 | -27 | -2.0% | WI | $1,352 | $1,335 | -17 | -1.3% | IA | $1,496 | $1,386 | -111 | -8.0% | ME | $1,484 | $1,392 | -92 | -6.6% | ID | $1,548 | $1,465 | -82 | -5.6% | IN | $1,463 | $1,480 | 18 | 1.2% | VT | $1,554 | $1,494 | -61 | -4.1% | OR | $1,648 | $1,517 | -131 | -8.6% | KS | $1,619 | $1,541 | -78 | -5.0% | IL | $1,556 | $1,541 | -15 | -1.0% |
While Louisiana is considerably higher than Ohio in car insurance premiums, that doesn't mean that everyone in Louisiana should pack their things and move to Ohio. It does mean, however, that you might want to consider shopping around for cheaper auto insurance. To assist you in this process, Insurance.com offers a comparison application module that lets you compare the rates of best-in-class car insurance providers - helping you find the best auto insurance rate available for you and your budget. Wondering where your state ranked in the Insurance.com Third Quarter Auto Insurance Pricing Report? Below is a list of the 48 states Insurance.com surveyed. States are ranked in alphabetical order with the price increase or decrease displayed as a percentage for each state.
State | 2006 Premium | 2007 Premium | 2007 Change from 2006 | % 2007 Change from 2006 | AL | $1,847 | $1,810 | -37 | -2.0% | AR | $2,118 | $1,887 | -231 | -12.2% | AZ | $1,929 | $1,914 | -15 | -0.8% | CA | $1,842 | $1,791 | -51 | -2.8% | CO | $1,658 | $1,579 | -79 | -5.0% | CT | $1,965 | $2,029 | 65 | 3.2% | DC | $2,753 | $2,547 | -206 | -8.1% | DE | $2,621 | $2,516 | -105 | -4.2% | FL | $2,105 | $2,055 | -50 | -2.5% | GA | $1,705 | $1,613 | -93 | -5.7% | IA | $1,496 | $1,386 | -111 | -8.0% | ID | $1,548 | $1,465 | -82 | -5.6% | IL | $1,556 | $1,541 | -15 | -1.0% | IN | $1,463 | $1,480 | 18 | 1.2% | KS | $1,619 | $1,541 | -78 | -5.0% | KY | $2,299 | $2,215 | -84 | -3.8% | LA | $2,833 | $2,730 | -103 | -3.8% | MD | $2,226 | $2,141 | -85 | -4.0% | ME | $1,484 | $1,392 | -92 | -6.6% | MI | $2,158 | $2,058 | -100 | -4.9% | MN | $1,658 | $1,608 | -50 | -3.1% | MO | $1,558 | $1,590 | 32 | 2.0% | MS | $2,021 | $1,919 | -102 | -5.3% | MT | $1,769 | $1,658 | -111 | -6.7% | NC | $2,261 | $1,886 | -374 | -19.8% | ND | $1,941 | $1,725 | -217 | -12.6% | NE | $1,702 | $1,570 | -132 | -8.4% | NH | $1,650 | $1,580 | -70 | -4.4% | NJ | $2,737 | $2,574 | -163 | -6.3% | NM | $1,900 | $1,803 | -97 | -5.4% | NV | $1,942 | $2,080 | 138 | 6.6% | NY | $2,714 | $2,627 | -87 | -3.3% | OH | $1,358 | $1,331 | -27 | -2.0% | OK | $1,894 | $1,780 | -114 | -6.4% | OR | $1,648 | $1,517 | -131 | -8.6% | PA | $1,925 | $1,979 | 54 | 2.7% | RI | $2,553 | $2,340 | -213 | -9.1% | SC | $1,717 | $1,605 | -112 | -7.0% | SD | $1,812 | $1,624 | -188 | -11.6% | TN | $1,548 | $1,590 | 42 | 2.7% | TX | $1,801 | $1,700 | -101 | -5.9% | UT | $1,797 | $1,701 | -97 | -5.7% | VA | $1,575 | $1,584 | 9 | 0.6% | VT | $1,554 | $1,494 | -61 | -4.1% | WA | $1,792 | $1,859 | 67 | 3.6% | WI | $1,352 | $1,335 | -17 | -1.3% | WV | $2,367 | $2,136 | -231 | -10.8% | WY | $2,190 | $1,996 | -194 | -9.7% |
About Insurance.com's 2007 Third Quarter Auto Insurance Pricing Report
Insurance.com's 2007 Third Quarter Auto Insurance Pricing Report highlights the lowest average auto insurance rates viewed by almost 1million car insurance consumers on the 2007 Insurance.com platform through September*. The information comes from actual auto insurance quotes consumers received from over a dozen of the nation's leading auto insurance companies who participate in Insurance.com's comparative auto insurance platform. *Disclaimer
While the Insurance.com 2007 Third Quarter Auto Insurance Pricing Report is a broad indicator of pricing activity in the personal auto insurance marketplace on a per household basis, it is not a comprehensive index as it reflects only the pricing activity of carriers that have participated in the Insurance.com auto insurance marketplace in the states where it quotes (all states except Alaska, Hawaii, and Massachusetts) and the aggregate profile of consumers who shop using the Insurance.com platform.
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