Study Proves Economy Affects Auto Insurance Rates

Experts have finally proven what many have long felt to be true: there’s a definite correlation between a struggling economy and car insurance coverage rates. Between 2005 and 2010, the average household in the United States spent less on car insurance coverage due to less car travel and accidents, and as a result of unemployment. And though this might seem like good news, the problem is that of those Americans who do drive, a staggering one in every five is uninsured. According to the New York Times, the percentage of drivers without car insurance coverage increases by 0.75% for every point of increase in unemployment rates. And the reason is obvious: in hard times, it’s more important to put food on the table than to pay for car insurance coverage.

How To Be A Responsible Driver
Though it’s tragic that not everybody can afford car insurance coverage, for those who can, the message is clear: make sure you have adequate car insurance coverage that includes not only collision and comprehensive car insurance coverage, but also uninsured and underinsured motorist coverage. This way, even if you’re involved in an accident with an uninsured driver, you’ll be protected by your own car insurance coverage.

To find the best deals on car insurance coverage, make an online insurance comparison with AgentInsure. AgentInsure can also help you find out which discounts apply to your situation, and put you in touch with an experienced and local certified insurance agent who can help you decide on the best car insurance coverage.