WASHINGTON — There may finally be at least one silver lining to nationwide gas prices topping $4 a gallon–lower auto insurance rates.
According to the Consumer Federation of America, consumers who are driving less could save an average of 5 to 15% on their automobile insurance rates–a savings of about $47 to $142.
According to CFA Director of Insurance J. Robert Hunter, with auto insurance rates partially based on how much consumers drive and how they use their car, actions taken to save money on gas from using mass transportation and carpooling to taking fewer trips to the store might mean consumers may qualify for immediate insurance rate relief.
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