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More people opting not to buy auto insurancePosted On Tue, May 10, 2011
With the economy still struggling to recover, a new report has found that some people may be cutting costs by forgoing auto insurance.
According to the Insurance Research Council, for the first time in four years the number of uninsured motorists increased slightly in 2010, as approximately one in seven Americans drove without coverage.
“The leveling trend in the percentage of uninsured motorists is an unfortunate consequence of the economic downturn and illustrates how virtually everyone is affected by recent economic
developments," said Elizabeth Sprinkel, senior vice president of the IRC. "This forces responsible drivers who carry insurance to bear the burden of paying for injuries caused by
drivers who carry no insurance at all."
The study also looked at the states with the highest rate of uninsured drivers. At 28 percent, Mississippi had the highest percentage of drivers without an auto insurance policy, while Massachusetts and Maine had the lowest rate at 4 percent.
The IRC's analysis did not focus on what other expenses may be getting in the way of motorists' purchasing auto insurance, but gas may be one of them, as a recent report found gasoline costs the average homeowner more than $300 per month.
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