Higher Gas Prices May Lead to Higher Insurance Costs

If high gas prices have you tightening your budget then you won't like these new findings. According to The Insurance Research Council, "the average auto injury claim payment in accidents involving lighter-weight vehicles was 14.3 percent greater than the average payment in accidents involving heavy vehicles. These findings suggest that, as rapidly rising gas prices prompt more drivers to choose lighter and more fuel-efficient vehicles, the average cost of injury claims arising from motor vehicle accidents cam be expected to climb."

And, something else to think about, it may get worse for some who have slipped on their mortgage or other bill payments and their credit score lowers. Don't forget that now a lot of insurance companies do partly base your insurance premiums on your credit score.