National Financial Crisis May Grow The Percentage Of Non-Insured Drivers To Record Levels

Approximately 17% of drivers across the United States may be driving without insurance by 2010, these figures were compiled from research done by the Insurance Research Council. Although the estimated amount of non-insured drivers went down across the nation from 14.9% in 2003 to 13.8% in 2007, the national financial crisis is expected to elevate the amount of non-insured drivers.

A recently published study, "Uninsured Motorists, 2008 Edition," suggests the amount of non-insured motorist nationwide and by state from 2005 to 2007. The Insurance Research Council derives the non-insured driving population using a formula calculated between insurance claims made by people who were hurt by non-insured motorists to those made by people who were hurt by insured motorists.

The research tells recently obtained stats by state for bodily injury liability claims and non-insured drivers claim frequency and the ratio among bodily injury claims and non-insured drivers.

The severity of the non-insured driver problem differed greatly from state to state. In 2007, the largest five non-insured motorist estimates by state were New Mexico 29%, Mississippi 28%, Alabama 26%, Oklahoma 24%, and Florida 23%. The five states with the lowest estimates of non-insured motorists were Massachusetts 1%, Maine 4&, North Dakota 5%, New York 5%, and Vermont 6%.

The data also showed a big correlation unemployed and the percent of non-insured drivers. The research shows if you increase in the unemployment rate to 1% it will correlate to an increase in the non-insured driver rate to more than 3/4 of 1%. Based on the projected unemployment rate figures, the percentage of non-insured drivers is expected to increase from 13.8% in 2007 to 16.1% in 2010.

"An increase in the number of uninsured motorists is an unfortunate consequence of the economic downturn and illustrates how virtually everyone is affected by recent economic developments," said the Senior Vice President of the Insurance Research Council Elizabeth A. Sprinkel. "Responsible drivers who purchase insurance end up paying for injuries caused by uninsured drivers."

The Insurance Research Council research studied data obtained from nine insurance companies, representing approximately 50% of the private passenger vehicle insurance market in the United States.

With all this happening it will be hard to get discount auto insurance because as uninsured driver claims increase the premiums for current insureds will also increase. The best chance you will have to get inexpensive auto insurance is to try to get as many free insurance quotes as possible and compare rates between companies.

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