Ohio Motorists Looking at Higher Auto Insurance Rates

Aug. 10, 2009 - PRLog -- The average rates for the state's top 10 auto insurers increased 0.8 percent in 2008 and looks to increase a bit more by the end of 2009 according to data collected by the state's Department of Insurance. In 2008 some of the top 10 private passenger automobile insurers raised premiums up to 3%.

Although there has been a slight increase in premiums, Ohio auto insurance is relatively low compared to the national average. According to the most recent figures from the National Association of Insurance Commissioners (NAIC), the state has the 13th lowest premium rate average in the nation. It should be noted that the state's mandatory liability limits are fairly low compared to all other states.

Ohio's Department of Insurance Director Mary Jo Hudson stated, "The Department will continue to monitor these markets and also assure that Ohioans have access to competitive coverage." The increases in the rates are attributed to higher medical costs, claims related to weather, the growing number of cars occupying the roadways and the cost of vehicle repair.

Not all companies have increased premiums, mainly the ones which need to compensate for loss. Laws allow for providers to raise rates in areas where they have suffered a significant amount of losses in order to recover from expenses that they have incurred. This does not mean that consumers must settle for this pricing and stick with a company or choose to purchase new coverage with them. It is a broad market and individuals should definitely take the time to seek out the best possible deals from a reliable carrier.

If at the time that an individual is due for renewal and notices a substantial increase on their notice to renew they can simply comparison shop by visiting http://www.onlineautoinsurance.com/ohio/ to find a more affordable competitor. There are several companies out there willing to compete for future customers. A common mistake is to simply renew a policy without comparing and taking advantage of the competitive market. Residents should also consider raising their coverage limits above what is mandatory due to the fact that it does not offer sufficient protection for the costs of being at fault for an accident which caused substantial bodily injury or property damage to another party.

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Online Auto Insurance is a valuable source of information regarding all aspects of properly insuring vehicles. By visiting http://www.onlineautoinsurance.com/ visitors are provided with free quotes from multiple reliable insurers to help ensure that they can find the cheapest rates available.