Based on data from the lowest average auto insurance rates viewed by over 1.4 million car insurance consumers on Insurance.com, auto insurance rates continued to decline according to Insurance.com’s 2007 Auto Insurance Pricing Report. Only six states on Insurance.com’s platform showed increases in premiums; the rest all showed decreases, in many cases for the third year in a row.
With a year that saw increased competition between auto insurance companies, and higher, though arguably more stable gas prices, car insurance rates continued to decline for many states,” reports David Roush, CEO of Insurance.com. “Our 2007 Auto Insurance Pricing Report indicates a 5.2% decrease in car insurance rates from 2006 prices.”
In Insurance.com’s 2006 Pricing Report, the national average premium was $1965. This went down to $1868 in 2007. “This is a clear indication that prices are constantly changing, often in favor of the consumer. It’s never been more important to make sure you’re not overpaying for your auto insurance. Insurance.com makes it easy to compare rates from leading national companies,and to buy immediately, online or over the phone.”
According to the Insurance.com 2007 Auto Insurance Report, North Carolina saw the largest decrease in car insurance premiums, paying an average of $1,816 for car insurance – a 24.5% decrease from 2006. This is the first year since 2004 where North Carolina has showna decrease in the Insurance.com Pricing Reports. Arkansas and South Dakota were in second and third place, with decreases of 14.5% and 14.4% accordingly.
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