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Study Says Auto Rates Increasing But Not As Fast As Last Year

Rising costs of medical care, vehicle repair, jury awards, automobile theft and fraud are expected to drive up auto insurance rates by six percent in...
August 26, 2003

Rising costs of medical care, vehicle repair, jury awards, automobile theft and fraud are expected to drive up auto insurance rates by six percent in 2004, according to an analysis by the Insurance Information Institute (I.I.I.). The projected increase represents a slight moderation from 2003 when auto insurance costs are estimated to rise 8.5 percent, the I.I.I. observed. The average cost for auto insurance nationwide for 2004 is estimated to be $898 - an increase of $51 per vehicle from this year. More

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