SAN JOSE, CA--(MARKET WIRE)--Oct 7, 2008 -- CheapAutosInsurance.com, based in San Jose, California, has offered comprehensive automotive insurance data and rate quotes to readers since 2003. In the current state of economic anxiety in the U.S., the company is particularly interested in helping readers understand the personal ramifications of government measures like the proposed $700 billion bailout of the financial industry and its potential effect on their insurance rates.

"Anyone who listens to the nightly news is scared," said CheapAutosInsurance CEO Brian Severson. "Many of us have heard stories of the Great Depression from our grandparents and older relatives and we wonder now if it can get that bad again. When the market takes a 700 point plunge in a day and the government starts talking about the biggest infusion of cash into the economy since the New Deal, people just aren't ready for that. We don't know what it means for us as individuals or if it affects things like our automotive insurance rates. Everything else is going up. Is insurance going up too?"

A new section on the CheapAutosInsurance site entitled "The Effect of the 'Bailout' on Rising Car Insurance Rates" seeks to address those concerns. The news is not necessarily good for the consumer. The bailout will cost the American consumer about $2,300 with little benefit being felt immediately on Main Street due to the entrenched nature of the recession.

"They've been telling us for upwards to a year that there is no recession in America," said Severson, "and no one out there on 'Main Street' has believed that. We're the ones dealing with $4 a gallon gas and the rising cost of automotive insurance. People are driving less and seeking alternative forms of transportation because it's getting so expensive to drive and maintain a vehicle."

The bottom line to the situation, according to the article, is little if any change in the insurance situation for the long-term. "Do not expect insurers or state regulators to do anything to alleviate the increasing cost of car insurance. To lower the cost of car insurance ourselves, continue to drive less; keep your old car instead of buying new; drive defensively; repair your damaged credit rating; install anti-theft devices. All of these measures are tried and true ways to obtain cheap insurance rates."

Material like the up-to-date explanation of the effect of the bailout program, plus sections on "green" vacations, hybrid technology, and gas efficiency augment CheapAutosInsurance's main mission: frank advice on cost effective car insurance. Side-by-side with rate quotes, readers will find these articles and more on topics like anti-theft devices and the pros and cons of having more than one vehicle on a policy. The content of CheapAutosInsurance.com is constantly refreshed to reflect the latest developments in the insurance industry. The editors welcome and invite your questions, comments, and ideas. Send email to: editor@cheapautosinsurance.com.

     Contact Information
      
     Brian Severson
     CEO and President
     CheapAutosInsurance.com
     Santana Towers
     3031 Tisch Way, 7th Floor
     San Jose, CA 95128
     Ph. 408 516 4544
     Email: Email Contact