Personal auto insurance is becoming more affordable for allincome groups. According to a new report conducted by the InsuranceResearch Council (IRC), auto insurance has become more affordablefor the nation as a whole and on a state level. The study,Trends in Auto Insurance Affordability, alsorevealed that other critical industries are not showing that degreeof auto insurance affordability improvement.
Auto insurance affordability was analyzed by calculating an autoinsurance expenditure-to-income ratio. The findings examine trendsin affordability, thus reducing the intrinsic subjectivityconnected 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.
