Car Insurance Quotes Are Rising As the nation's headlines were focused on the rising cost of health care last year, we forgot to watch the auto insurance companies. The Insurance Information Institute found that in 2009: "…the average cost of auto insurance on sedans rising by 5.7 percent to $1,031 for a typical policy including collision and comprehensive coverage. The 2010 study is based on costs associated with five top-selling 2009 models selected by AAA." According to another report in USA Today, the average policy will rise 4 percent to $875 per year, following an average increase of 3 percent last year. All of the statistics point to the same trend. Auto insurance is rising. Auto insurance rates are going up. Health Insurance Coverage Our Nation's headlines have recently been focused on the rising cost of health care, and rightfully so. Take a look at some startling facts and statistics: From 2000 to 2006, overall inflation has increased 3.5%, wages have increased 3.8%, and health care premiums have increased 87% (Source: Kaiser Family Foundation). The United States spends twice as much on health care per capita ($7,129) than any other country . . . and spending continues to increase. In 2005, the national health care expenditures totaled $2 trillion. (Source: National Center for Health Statistics) About half of the bankruptcy filings in the United States are due to medical expenses. (Source: Health Affairs Journal) These are truly scary numbers. Americans suffer while health insurance companies record profits. Let's hope the bill that was passed helps out those 46 million Americans who can not afford health care plans. Car Insurance Quotes Are Rising The car insurance companies are now facing the same scrutiny that the health insurance industry was in that many Americans think the rates are too high. Yet, Americans are driving less than last year J. Robert Hunter, an insurance consumer advocate with the Consumer Federation of America, is urging state regulators to find out why rates are rising when Americans are driving, in total, billions of miles less than a year ago. "As Americans drive less because of the price of gas, fewer claims will be filed with insurance companies," Hunter said in a letter to the nation's governors in June. "Whether this will mean windfall profits for insurers or rate cuts for the consumers is up to governors and state regulators to determine." So we are driving less, yet paying more for our car insurance. What does this mean for you? It's time to do one of three things even if you have the best car insurance. You can raise your deductable to lower your overall monthly payment. But then you have to hope and pray you don't get into a major accident. Fix your credit rating. Every car insurance company examines your credit report and charges you accordingly. Unfortunately, this can take quite some time. Sell your car to a trusted industry leader like Bigbucksauto.com. Getting rid of your car al together may seem drastic but many people do not even realize that they have an opportunity to live with out their cars. By carpooling to work, receiving goods via mail, and when necessary, renting a car, you can effectively erase your car insurance payments, even if that means that the money saved has to go towards your health insurance. You can live without your car, but not without your health.
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