US Auto insurance rates poised to decreased by 1.7% in 2021

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