California Car Insurance: What is up or rather down with this business?
Wednesday, May 30th, 2007California Car Insurance is not going up but rather down in price. What is up or rather down with this? Now I live in California and as gas prices have shoot through the roof ($3.49 yesterday for premium) Califronia Car Insurance rates have done just the opposite. Have the insurance companies lost their minds? I doubt it. But what is for certain is that my rates and rates of others I have spoke with have gone down bigtime. As an example my personal California Car Insurance rates have decreased from $1131 every six months for three cars and two drivers down to a measly $687 for every six months. I did some shopping but found that type of rate difference fairly amazing considering I live in an area with over 1,000,000 people. After a little investigation I found out the following. In California the average body shop business is way, way way down. Like almost 40% from just a year ago. In our area a bodyshop owner was telling me that just in the last 6 or 8 months four of the better shops have closed there doors for good. That should be better for the guys who aren’t closing but so far that has not been the case. He says people are getting in the same amount of wrecks but for many they are driving around and not fixing the car. I starting looking around and that seems to be the case. So while gas has gone through the roof California Car Insurance has gone the opposite direction. Go figure.
