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Smallest Auto Insurance Premium Increase for 2006

NEW YORK - The Insurance Information Institute has reported that the cost of auto insurance will only rise .5%-representing the smallest increase in six years.

By Staff Writer | Updated on June 06, 2006

NEW YORK – The Insurance Information Institute has reported that the cost of auto insurance will only rise .5%-representing the smallest increase in six years.

Despite record vehicle-related losses arising from the 2005 hurricane season, the average cost for auto insurance nationwide for 2006 is estimated at $867-an increase of just $4 per vehicle from last year.

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