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Big differences among auto insurance providers

Posted On Fri, January 21, 2011 A new round of auto insurance research is showing that one's driving record may not be the most significant factor in what insurers charge in premiums.

These findings come after E-Insure Services compared auto insurance prices among six competitors with three distinct driving backgrounds. One driver had no history of accidents, another had two and a third driver had one DUI conviction.

Interestingly, among competitors, the drunk driver had the biggest disparity in insurance costs. Some providers charged as much as $347 per month - the highest rate - while others charged as little as $95 per month. That was just $5 more than what the good driver sometimes paid.

This is proof positive to E-Insure Services president David Thompson that insurers take many different factors into consideration.

"The miles you drive, the vehicle and its safety rating, even your credit score come into play," said Thompson. "That's why it really pays to get at least three competitive auto insurance quotes before you commit."

What state the provider is operating in is another factor in determining auto insurance premiums. According to the Insurance Information Institute, there's a $623 difference between the lowest and highest average car insurance premium in the United States.

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