It’s exciting to finally get that driver’s license and have the freedom to get in the car and go. But one thing that stops a lot of new drivers in their tracks is the high cost of car insurance. Parents and young drivers may get quite a shock when they see the next insurance bill. Going without insurance as a young driver just isn’t an option — it could result in fines, a suspended license, or even a terrible, costly accident. Young drivers shouldn’t despair, though. There are a few…
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Automobile insurance study shows affordability improvements
The research determined that auto coverage has become more affordable for people at all levels of income. A recent study that was conducted by the Insurance Research Council (IRC) has determined that automobile insurance is becoming more affordable and that this trend has been maintained over the last ten years, particularly for individuals within the lower and middle income ranges in the United States. Every state except for six experienced improvements in their affordability from the 1990s to the 2000s. Among all of the states and the District of Columbia…
Read MoreA Guide to Why Car Insurance Varies by State
If you’ve ever moved to a new state, chances are that you’ve experienced a significant rate change in your car insurance. But what’s with car insurance being so much more or less expensive from one state to another? Here’s a quick guide to explain why these rates can change so drastically. Multiple Variables Affect Your Rates With car insurance, there’s really no single answer as to why these rates vary; in truth, there are innumerable insurance rate details that can confound all but the most seasoned underwriter. But the short…
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