CLEVELAND, Dec. 7 /PRNewswire/ -- The National Association of Insurance Commissioners (NAIC) has released the 2006/2007 Auto Insurance Database Report indicating that several states have seen a decline in the average premium for automobile insurance coverage.

According to the report, Ohio has benefited from three consecutive years of declining rates, which has made the state's average premium the eleventh lowest in the nation; down from thirteenth lowest in 2006. Much of the decline has been credited to a competitive market according to Ohio Department of Insurance Director Mary Jo Hudson, who stated, "Ohio has a healthy, dynamic and competitive auto insurance marketplace that helps drive the prices of premiums lower to the benefit of consumers."

Source: http://www.insurance.ohio.gov/Newsroom/Pages/12022009AutoPremiums.aspx

States such as New York and New Jersey have also seen a reduction in premiums and, due to the fact that motorists in the Empire and Garden State pay some of the highest rates in the nation, these rate reductions can be extremely beneficial for vehicle owners. Even if currently insured, it is always wise to frequently compare quotes from other providers; as competition tightens, insurers tend to lower the cost of coverage to grab a hold of a bigger share of the market.

With several states reporting decreasing rates, now is a better time than any to shop around and attempt to find a more affordable policy. As the holidays inch closer, cutting the cost of coverage can take an edge off of seasonal spending and now is an opportune time to do so.

Websites such as OnlineAutoInsurance.com encourage consumers to take advantage of the current reduction in premiums and "strike while the iron is hot". An efficient search for cheap auto insurance can be easily conducted online through fast quote comparisons.

The Internet allows visitors to simultaneously compare the rates of multiple reputable companies in order to easily locate the cheapest policy. By visiting http://www.onlineautoinsurance.com/cheap/ consumers can obtain free quotes as well as useful information and resources helping motorist become more informed and knowledgeable in the auto insurance process.

SOURCE Online Auto Insurance, LLC

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