California has Lower Auto Insurance Rates than 20 Years Ago
By Hal M. Bundrick
NEW YORK ( MainStreet)--If you're cruisin' in California with the top down and your radio blasting, you've got one more reason to smile: you're paying less for car insurance than you did 25 years ago. To tell you how long ago that was, Milli Vanilli owned the music charts back then. Yeah, that long.
A new analysis of state auto insurance expenditures during the period of 1989-2010 by the Consumer Federation of America reports that most Americans are paying 43% more for car insurance -- a total of $791 annually -- while Californians have actually seen rates decline, if only fractionally (0.3%) for the same time period, without factoring in inflation. It was the only state to see lower insurance rates for the timeframe.
During the two-decade span, 37 states saw larger increases than the national average while eight states and the District of Columbia saw increases smaller than the national average but still over 25%. Only four states saw increases less than 20%, based on data collected from the National Association of Insurance Commissioners.
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