Personal auto insurance is becoming more affordable for all income groups. According to a new report conducted by the Insurance Research Council (IRC), auto insurance has become more affordable for the nation as a whole and on a state level. The study, Trends in Auto Insurance Affordability, also revealed that other critical industries are not showing that degree of auto insurance affordability improvement.
Auto insurance affordability was analyzed by calculating an auto insurance expenditure-to-income ratio. The findings examine trends in affordability, thus reducing the intrinsic subjectivity connected to affordability analysis.
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Trudy Knockless
Trudy Knockless is a reporter on ALM Media's Business of Law desk. She has a background serving legal and insurance publications. Contact her at [email protected] or on LinkedIn at Trudy Knockless.
