Leveraging data from the Quadrant Information Services database and RateWatch, ValuePenguin has authored a new report on the premium rates across the United States.
The report states that most Americans will see a 1.7% premium decrease for 2021, however these new rates will still be 106% more expensive when compared to 10 years ago. The average policy price will be $1,636 for 2021.
45 states will see premium decreases, with Arkansas (4.8%), Ohio (4.3%) and Michigan (4.3%) leading the pact, while 5 states will see increases, including New York (1.2%) and Indiana (1.1%).
ValuePenguin also states that they are expecting the return to increases in 2022 as policyholder return to pre-pandemic driving patterns.
View the ValuePenguin report here https://www.valuepenguin.com/state-of-auto-insurance-2021