During the global credit crunch we are all used to prices going up so its nice to have some good news from the New York Insurance Regulators. The New York State Insurance Department has issued a document ordering insurers to explain any request to raise rates as they feel that auto insurance price increases are not currently justified. Super insurer Geico has already withdrawn two requests to increase rates on 2 of its key products and “significantly reduced” its proposed increase to its 3rd product which deals with high risk drivers.

The New York State Insurance Department has acted because driver behaviour has changed due to record gas prices. Drivers are making less non-essential trips and car pooling on grocery and shopping trips. This means there are less cars on the road therefore accidents are less likely to occur. Insurance companies seem to agree with this view as they have seen big decreases in their losses. In fact, in May 2008 Americans drove 9.6 billion miles less than in May 2007, the third largest drop in 66 years!

If this continues then motorists in other states can look forward to a reduced auto insurance quote from your insurer.

The sites I visited were mostly data collection sites dressed up as quote comparison sites. I don’t see much benefit in this way of collecting quotes and it would be better to simply visit two or three of the big sites such as Progressive and Geico. By entering your data into these sites directly you can be sure that any prices you obtain will be honoured by the insurers without any problems introduced by translating data from comparison sites into multiple company systems. This might take a few minutes longer but checking around for your prices will get you a good discount from one of them.

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The safest cars in the small SUV category are Honda CR-V, the Honda Element and the Subaru Forester.  If you are planning on buying any of these vehicles then congratulations – you are already on your way to cheap auto insurance!

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Over time this will have an effect on auto insurance prices because of the reduction in the number of cars on the road during peak times.  If there are less cars around it makes sense that the probability of having an accident is decreased.  Lower chances of being involved in an accident should translate into rate cuts for drivers although it may take around 2 months for new lower priced rates to enter the market.

If your renewal is due now then there is not much good news I’m afraid.  Maybe the online auto insurance quotes offered by multi-quote.com will save you some money – try out the one step form today!

The problem is that due to new state laws, high risk drivers who cannot get insurance elsewhere are spread out between other auto insurers in the state. Progressive is exempt from these compulsory high risk customers for 2 years as a newcomer to the state. This means Progressive is able to offer super cheap auto insurance rates and has been pursuing an extremely aggressive advertising campaign.

The major insurers have sued the state commissioner of insurance in a move to force Progressive to take loss making business inline with other Massachusetts auto insurance companies.

Use multi-quote.com to get your super cheap auto insurance rate from Progressive while you still can.