The Consumer Federation of America (CFA) published a study this week indicating that many American consumers qualify for lower insurance rates, and aren't aware of it.
The study stems from data indicating that most Americans have no plans make significant vehicle changes-from gasoline to electric, for example.
Rather, the tactic adopted by most Americans in coping with high gas prices has been simple: don't drive.
Since insurance premiums are tied to risk, and risk is obviously statistically linked to the number of miles a vehicle travels in a year, it stands to reason that drives who travel less should qualify for lower insurance rates.
CFA outlines three specific ways in which many Americans have changed their driving habits, unwittingly qualifying themselves for lower rates.
First, many workers and students have stopped driving to work or school at all, choosing to bike or utilize public transportation.
These insurance consumers have, in effect, moved their cars from the "Driven to Work/School" category to the "Driven for Pleasure" category, qualifying them for savings of up to 15%.
Other consumers have significantly slashed their work miles, either by driving only as far as the bus station or by joining a carpool.
These changes move them into a lower mileage insurance category, often resulting in savings of up to 10%.
And finally, many consumers who still drive to work each day have simply begun driving smarter, consolidating their errands into one trip each day, and staying home once they get there.
Although their savings are less, they may still qualify for auto insurance savings between 5 and 10%.
Consider the case in Florida, where the average driver spends over $1100 yearly on auto insurance.
A five to fifteen percent rate reduction works out to yearly savings of up to $170.
Although that's not enough to completely offset yearly gas increases, it's not chump change, either--more than enough to fill up a vehicle three or four times.