Aug 04
Insurance Costs Could be Lower if Gas Stays High
With drivers trying to lower their consumption of gas to save money, there may be another way to pay for gas: saving money on insurance costs.
Choosing to carpool or use mass transit instead of making the trip to work by yourself could save many consumers between 5 percent and 15 percent. This could lead to insurance rates being lowered by $47 to $94 a year for the average insurance customer’s premium. Rates for auto insurance are in part based on the amount of miles driven during a typical year as well as how the car is used.
The Consumer Federation of America is recommending that drivers contact their insurance companies to see if there is an immediate rate reduction available. A spokesman for State Farm Insurance company claimed that driving habits must be changed dramatically to receive a lower rate.
However, for many, they may have already altered their traditional driving patterns to save more at the pump.
With driving habits changing all through the country, The Consumer Federation of America is now requesting each state to hold hearings. These hearings will ultimately will aide in changing automobile insurance in co-relation with the effect of the gas prices forcing people to do less driving.
To learn more you can log onto The Consumer Federation of America website at www.consumerfed.org.
(No Ratings Yet)
Loading ...
Print This Post
