$702 is the Current National Median Auto Insurance Rate

$702 is the Current National Median Auto Insurance Rate

by Jeanny Hopper

The median auto insurance rate, for a 6-month policy, is presently $702. This was reported by InsWeb, a premier insurance comparison provider online. The rate has dipped by about 0.5% in the last six months. The Insurance Provider has also provided statistics which break down the median rate data according to specific demographic categories. These categories include women, men, teens and senior citizens. InsWeb said that women shell out a median auto insurance rate that is 5% lower compared to men. For a six-month policy, instead of $720, women pay about $683. Drivers who are 19 years of age (and … (more) February 8, 2010

Click for more auto insurance headlines »

  • Proposal Submitted to End Fraud and Abuses in NY Auto Insurance Policy

    by Jeanny Hopper
    Proposal Submitted to End Fraud and Abuses in NY Auto Insurance Policy

    It is very likely that in New York, motorists would experience a major overhaul in their auto insurance system. For about 36 years now, the State of New York has been using a no-fault system. Simply put, it is an arrangement between an insurer and the insured that in case of damage or loss, the latter must be indemnified regardless of who is at fault. This no-fault scheme also allows victims of road mishaps to be directly reimbursed by their insurance provider. Conceptualized to avoid expensive litigation and lower premium costs, some industry experts feel that it is outdated and … (more) January 21, 2010

  • Reforms In Michigan’s Auto Reform Policy Sought

    by Jeanny Hopper
    Reforms In Michigan’s Auto Reform Policy Sought

    In Michigan, efforts are being made by insurance advocates to change the State’s long-standing auto insurance policy. Dr. Robert Hartwig is one of these people. Hartwig, a medical doctor by profession, is also the president of the Insurance Information Institute. In his speech presented to the members of the Michigan House Committee, he testified that the “no-fault” system is what causes Michigan’s car insurance costs to increase. A no-fault system is any type of contract by which the insured is indemnified for losses by their own insurer irrespective of who is at fault, or who had generated the damage or … (more) January 20, 2010

  • Car Insurers Eyeing Pet Coverage

    by Jeanny Hopper
    Car Insurers Eyeing Pet Coverage

    Apparently, pets deserve the same treatment as their owners, even when it comes to insurance coverage. More and more auto insurance firms are offering coverage for pets involved in car-related accidents. At present, there are four insurers offering up to $1,000 to clients whose pets have sustained injury or worse, died, in car accidents. Pet coverage gained a new boost when a local TV station showed a short news story about a resident who narrowly escaped a watery grave when the woman’s car was rear-ended into a canal. The CBS news crew was able to capture footage of the driver … (more) June 18, 2009