Auto Insurance Rates leveling off

TALLAHASSEE, Florida (AP) -- For the past few years, auto insurance in the US has increased almost six percent a year.



But insurance companies are throttling back on increases, and some premiums are even declining.



The Insurance Information Institute says spending on auto insurance is expected to grow an average of one-and-half percent this year to $870 per vehicle.



But many drivers are getting a break. In New York, 10 big auto insurers, including market leaders AllState, GEICO and State Farm, have cut rates an average of five to six percent this year.



Florida's insurance commissioner says he's seeing the same thing happening here.