The National Association of Insurance Commissioners (NAIC) survey found the most common car-related, money-saving lifestyle changes consumers made in the last 12 months that could impact their insurance costs were:
- Nearly 40 percent of respondents are driving less overall and/or taking public transportation more frequently.
- Close to 20 percent of car owners traded in a vehicle for a lower-priced model or got rid of a second vehicle entirely.
- Almost 20 percent of drivers have reduced or cancelled their car insurance coverage for immediate financial relief.
- Many consumers relocated over the past year.
The survey identifies five trends and their effects on auto insurance premiums: