Auto Insurance Rates on the Rise

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Everyone not living in a cave knows what is currently happening at America’s gas pumps. $4.00 per gallon gas has become the norm, with some areas of the country closer to $4.50. Thanks to a recent report by Insurance.com, we now know auto insurance rates are increasing right along with gas prices. The company’s quarterly Car Insurance Rate Report (actual name) shows auto insurance premiums increased on average 3.4 percent over the previously reported quarter. This is the second quarterly increase in a row reported by the company.

The state with the largest increases in auto insurance premiums was Indiana (6.7 percent). Other interesting findings included:

  • The states with the highest quoted premiums were Louisiana, New Jersey and Washington, DC.
  • The states with the lowest quoted premiums were Ohio, Wisconsin, and Maine.
  • The top five states with the largest increases:
    1. Indiana – 6.7%
    2. Arkansas – 6.1%
    3. Texas – 4.3%
    4. Nevada – 4.1%
    5. Illinois – 3.8%

Credit: Insurance.com

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