The median six-month auto insurance rate in Colorado has decreased approximately three percent over the last six months to reach $816 according to InsWeb, a leading online insurance comparison provider.
InsWeb also reported Colorado median auto insurance rates segmented by specific demographic groups. These rates are determined by grouping car insurance quote requests by primary policy applicant. They include:
—————————————————————– Demographic Group Median Six-Month Rate —————————————————————– Men $848 —————————————————————– Women $781 —————————————————————– Age Group: 19 or younger $1662 —————————————————————– Age Group: 20 to 24 $1145 —————————————————————– Age Group: 25 to 29 $892 —————————————————————– Age Group: 30 to 39 $824 —————————————————————– Age Group: 40 to 49 $796 —————————————————————– Age Group: 50 to 59 $680 —————————————————————– Age Group: 60 to 74 $673 —————————————————————– Age Group: 75 or older $711 —————————————————————–
Rates provided by InsuranceRates.com, an InsWeb property.
Colorado rate statistics:
— Men in Colorado pay a median auto insurance rate that’s more than eight percent higher than the rate paid by women. — Drivers in Colorado 19 years of age or younger pay a median auto insurance rate that is over 100 percent higher than drivers ages 60 to 74. — The Colorado median rate decrease of three percent over the last six months contrasts sharply with the national median rate increase of approximately three percent over the same period. — A Colorado household that pays the six-month median rate of $816 and earns the Colorado household median annual income of $47,158 pays approximately 3.5 percent of its gross income for auto insurance. By this “affordability factor,” Colorado is the 24th most expensive state to insure a vehicle. Currently, Massachusetts is the most affordable with a factor of 2.0 percent, while Louisiana is the most expensive with a factor of 7.6 percent.
Colorado drivers who want to learn more about saving on their auto insurance and compare insurance quotes from multiple carriers can visit InsWeb.com.
InsWeb Corporation (NASDAQ: INSW) owns and operates a network of leading insurance marketplace and education websites. Founded in 1995 and headquartered in Sacramento, California, InsWeb’s primary properties include InsWeb.com, InsuranceRates.com, LocalInsuranceAgents.com, and AgentInsider.com. In 2009, more than 10 million consumers turned to InsWeb for answers to their insurance questions.
About InsuranceRates.com’s(TM) Median Rate Data
To determine median national auto insurance rates, InsuranceRates.com uses comprehensive profiles of InsuranceRates.com customers as well as a proprietary system that tracks the rating algorithms of multiple insurance carriers in each state. Median rates are determined using actual customer profiles that can include multiple drivers, multiple vehicles and other variables.
InsuranceRates.com’s auto insurance rate data is also accessible via the InsuranceRates.com Auto Insurance Rate Trend Tool. To view, please visit: http://www.insurancerates.com/media-center/insurance-widgets.html and click on “View Widget.” Please note that the Trend Tool is updated daily and uses fewer carrier algorithms than the data above. As such, rates displayed in the tool may vary from those shown in this press release.
To request more information about rates and rate trends in your region, please visit: http://www.insurancerates.com/press-requests.html.
Media Contact: Jonathon D. Tudor InsWeb Corporation (916) 853-3386 Email Contact
SOURCE: InsWeb Corporation