Filed Under:Life Insurance, Life Products

37% of Americans spent more on insurance in 2012

According to Bankrate.com

Photo credit: FreeDigitalPhotos.net
Photo credit: FreeDigitalPhotos.net

Many Americans felt their premiums rise over 2012. Thirty-seven percent of Americans spent more on insurance over the past year while only 7 percent reported spending less.

Fifty-two percent said that they spent the same while 4 percent reported that they did not know how to answer the question.

The findings were published today by Bankrate.com, a distributor of personal finance information.

Sixty-two percent of those who reported spending more said that they felt that their costs went up because of rising premiums.

The results reflect Americans spending on all types of insurance (life, auto, homeowners and health.) The survey was conducted by Princeton Survey Research Associates International.

“We continue to view rising expenses and stagnant wages as a key financial hurdle for American households. But consumers should not accept rising insurance premiums without a fight,” said Doug Whiteman, insurance analyst at Bankrate.com 

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