Gas prices and insurance rates are driving people to the poor house.
Gas prices have just hit a record high. How can gas stations charge different prices for the same gas, much like insurance companies charge different prices for the same policy? For drivers, it seems that all gas companies and insurance companies are in collusion. They all raise raise their prices at the same time, with little rhyme or reason.
When oil prices go down, there’s no corresponding drop in gas prices. When insurance companies are making record profits, why does your insurance renewal increase? Before a long weekend the price of fuel spikes, and all the gas companies do it at once. It makes no sense, and that’s why drivers get mad.
InsuranceHotline.com instantly quotes 30 insurance company rates, on line, and directs drivers to the best rated insurance company for them.
It’s estimated that the average driver spends $1,500 per year on gas. The spread between company car insurance rates; for one car, one driver is $1,500. The rates for two cars, two drivers can exceed $4,500. If a driver has had accident there can be over an $8,000 difference between insurance company rates. Finding which insurance company has the lowest rate can save drivers hundreds or thousands of dollars off their insurance rate. These savings can go directly to the cost of their gas bill.
Below is a chart showing the spread between 30 insurance company rates, from lowest to highest.
Driving Record Lowest Highest Difference
Clean Record $1,321 $2,852 $1,531
1 ticket $1,621 $4,784 $3,163
2 tickets $1,871 $5,424 $3,553
1 accident $2,805 $11,301 $8,496
1 ticket / 1 accident $3,115 $11,301 $8,186
A $1,500 savings off your insurance rate means you could drive for free this year.