Insurance Costs Up, Online the Way to Go, Stats Say

The first Monday of a month seems as good a time as any to share some statistics about car insurance.

Recently, the Bureau of Labor Statistics published the latest (May) edition of the monthly Consumer Price Index report, which showed that the cost to insure a vehicle in the U.S. increased by 0.2% between March and April of this year.

Overall, it also cost about 3.8 percent more for an auto insurance policy this April than it did in April of last year.

Another study, this time released by market-research company ComScore, shared the findings of the 2011 Online Auto Insurance Report on Shopping and Servicing Activity.

This survey showed that the number of auto insurance quotes generated online in 2010 was down slightly (about a percent) from the year before, though the total number of quotes submitted in 2010 (37 million) was still 35 percent larger than the number submitted in 2006.

Bottom line? A fluctuation of less than a percentage point isn’t much to worry about, and shopping online is still the best way to get cheap auto insurance.

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