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Drop In Driving Trends May Help Insurers

Meyer Shields, an analyst with Stifel Nicolaus, said in a note that reports from the U.S. Department of Transportation indicate Americans are driving less miles. He speculated that the primary cause o

By Mark E. Ruquet | Updated on May 28, 2008

The number of miles Americans drive is dropping, and that could mean good news for the nation’s auto insurers, one investment analyst said.

Meyer Shields, an analyst with Stifel Nicolaus, said in a note that reports from the U.S. Department of Transportation indicate Americans are driving less miles. He speculated that the primary cause of this trend is the rising price of gasoline.

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