ALTAMONTE SPRINGS, FL — July 1, 2009 — CarInsurance.com announced today the current trend of car insurance premiums. CarInsurance.com Premium Index (CPI) shows the national average of auto insurance premiums and it can be reviewed at http://www.carinsurance.com/Premium-Index.aspx. June saw a 5.69% drop in premiums, compared to May. To date in 2009, car insurance rates are still 12.06% higher in 2009 then they were in 2008, but many states finally see car insurance rates going down.
Annually, the national average car insurance cost was $1,804 for June 2009.
In addition to CPI, CarInsurance.com offers tools to show historical average premiums, auto insurance changes, and state trends. These tools are available at http://www.carinsurance.com/Average-Premiums.aspx. You can see that almost every state has higher rates in 2009, compared to all of 2008. This month there are significant improvements as rates finally go down. CPI is a broad indicator of pricing activity in the personal auto insurance marketplace; it is not a comprehensive index as it reflects only the quotes and changes of multiple companies CarInsurance.com represents in 49 states plus the District of Columbia.
Using CPI State Premium Trend Tool, you can review car insurance trends by state. The most expensive areas in the Index this month are New York, Alaska, and Delaware. The least expensive states are Illinois, Iowa, Arkansas, Ohio, Hawaii, Mississippi, Alabama, Virginia, and Wisconsin.