January 24, 2008
National Auto Insurance Report Shows Insurance Rates Fall 5.2% in 2007
"With the auto insurance marketplace becoming increasingly competitive, this represents a chance for consumers to get better insurance rates in 2008," said David Roush, CEO of Insurance.com. "We are delighted to be able to provide buyers recent data on insurance rates and to help them make informed choices when comparison shopping."
The "2007 Auto Insurance Pricing Report" is a compilation of the lowest car insurance rate quotes given to the 1.4 million consumers who visited Insurance.com in 2007. Other notable survey findings include:
- The national average premium in 2007 was $1,868, down from $1,965 in 2006.
- States seeing the sharpest decline in car insurance rates in 2007 are North Carolina (24.5%), Arizona (14.5%) and North Dakota (13.3%).
- States seeing the sharpest decline in insurance rates since 2004 are Minnesota (36.9%), Colorado (34.7%), and Texas (31.1%).
- North Carolina, Washington DC, Delaware and Maine saw the first fall in prices since 2004.
Learn more by viewing the Insurance.com's 2007 Auto Insurance Pricing Report or by visiting http://www.insurance.com/about-us/ratewatch/2007q4.aspx
ABOUT THE 2007 AUTO INSURANCE PRICING REPORT
Insurance.com's 2007 Auto Insurance Pricing Report highlights the lowest average car insurance rates viewed by over 1.4 million auto insurance consumers on the Insurance.com platform in 2007*. 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.
While Insurance.com's 2007 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, Massachusetts) and the aggregate profile of consumers who shop using the Insurance.com platform.
Insurance.com, based in Solon, Ohio, is owned and operated by Insurance.com, Inc, a ComparisonMarket Company. Insurance.com enables consumers to instantly compare and buy competitive auto insurance quotes directly from more than a dozen leading auto insurance companies. When ready to purchase, users have the option of completing the transaction online or talking directly to a licensed agent. Other products include life, health and home insurance as well as travel, dental and pet health insurance.
In addition to Insurance.com, the company provides private labeled auto insurance solutions to financial institutions, affinity groups and online marketplaces to offer their customers real choice and savings opportunities on car insurance rates.