LOS ANGELES - (Business Wire) The struggle of finding cheaper rates continues as certain states such as Wisconsin and Texas announce an increase in the minimum auto insurance coverage requirements. OnlineAutoInsurance.com aims to help consumers as it becomes increasingly important to comparison shop to find cheap rates. As it is, Michigan residents pay some of the highest premiums in the nation and raising coverage requirements may lead to even higher costs of insuring. One method of maintaining cheap car insurance is with the use of OnlineAutoInsurance.com’s valuable tool which helps motorists pinpoint the cheapest rates with the ability to compare free quotes from a variety of reputable insurers.
As of November 1, 2009, Wisconsin raised the minimum required limits of liability to $50,000 for bodily injury to one person, $100,000 per accident and $15,000 for property damage which is commonly abbreviated as 50/100/15. This is substantially higher than the previous requirements of 25/50/10 and in addition, the required amount of Uninsured and Underinsured motorist coverage will more than double from 50/100 to 100/300. This will undoubtedly cause a rate increase and finding lower rates will come down to effectively shopping and comparing insurers.
Additionally, Texas increased their financial responsibility limits in April of 2008 from 20/40/15 to 25/50/25 which resulted in higher rates and will further increase liability requirements to 30/60/25 which may also lead to additional premium hikes. According to the Texas Department of Insurance, “Shopping for an insurance policy is similar to shopping for any major item. It’s best to compare companies and products to find the best price, quality, and customer service.”
Source: http://www.tdi.state.tx.us/pubs/consumer/cb035.html
Due to the low limits currently required by many states, it may just be a matter of time before more states follow this trend and begin raising requirements and subsequently auto insurance premiums. With the most effective way to locate affordable policies being to shop around, OnlineAutoInsurance.com helps visitors with a fast and efficient way to compare quotes from top rated insurers. In addition, provided are useful tips for saving, helpful videos, a detailed and printable list of discounts that may be applied and free quotes with no obligation to buy.
Visit http://www.onlineautoinsurance.com/cheap/ for more details and information on how to find cheaper rates for coverage.
Online Auto Insurance, LLC
John Pirro, 909-912-1855
john@onlineautoinsurance.com
