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Survey finds more people are making decisions that affect car insurance ratesPosted On Wed, June 8, 2011
A new poll from an insurance organization has found that a majority of Americans have made life decisions in the past year that could affect their auto insurance rates.
According to the April survey conducted by the National Association of Insurance Commissioners, 53 percent said they'd made at least one change that may cause them to pay different premiums. For example, the NAIC found the most common change among respondents was taking public transportation more frequently.
Susan Voss, president of the NAIC, said people should be aware that many decisions affect auto insurance rates - for better or worse.
"Some changes will save in unexpected ways, while others may increase your cost down the road," said Voss. "It’s important to understand what factors affect auto insurance rates so you don’t overlook opportunities to save or accidentally make a choice that provides only temporary savings."
NAIC lists several things that can affect premiums, such as if someone has moved, changed jobs or upgraded to a new car.
Auto insurance companies may increase rates for those driving new vehicles, but policyholders may be able to defray costs by driving less frequently.
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