The median six-month auto insurance rate in Florida has increased approximately 4.8 percent over the last six months to reach $787 according to InsWeb (NASDAQ: INSW), a leading online insurance comparison provider.
InsWeb also reported Florida 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 $811 ————————- ——————— Women $754 ————————- ——————— Age Group: 19 and younger $1644 ————————- ——————— Age Group: 20 to 24 $1134 ————————- ——————— Age Group: 25 to 29 $860 ————————- ——————— Age Group: 30 to 39 $782 ————————- ——————— Age Group: 40 to 49 $783 ————————- ——————— Age Group: 50 to 59 $683 ————————- ——————— Age Group: 60 to 74 $687 ————————- ——————— Age Group: 75 and older $843 ————————- ——————— Rates provided by InsuranceRates.com, an InsWeb property.
Florida rate statistics:
— Men in Florida pay a median auto insurance rate that is almost eight percent higher than the rate paid by women. — Drivers in Florida 19 years of age and younger pay a median auto insurance rate that is almost 2 1/2 times higher than the rate paid by drivers ages 50 to 59. — The Florida median rate increase of 4.8 percent over the last six months is notably higher than the national median rate increase of approximately 2.1 percent over the same period. — A Florida household that pays the six-month median rate of $787 and earns the Florida household median annual income of $39,623 pays approximately 4.0 percent of its gross income for auto insurance. By this “affordability factor,” Florida is the 11th most expensive state to insure a vehicle. Currently, Massachusetts is the most affordable state with a factor of 2.0 percent, while Louisiana is the most expensive with a factor of 7.1 percent.
Florida drivers who want to learn more about saving on their auto insurance and compare insurance quotes from leading national providers 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