The Bureau of Labor Statistics (BLS) released its most recent Consumer Price Index (CPI) report on Thursday, reflecting a slight month-to-month rise of 0.2 percent in the price of motor vehicle insurance policies between December and January. AutoInsurance.com recommends that consumers shop around and take full advantage of available discounts in order to keep personal costs low.

Average auto insurance rates, according to the BLS, rose relatively steadily in the last year. The only month-to-month decline that occurred in 2010 for premiums came between November and December, when they dropped by 0.3 percent. But that drop came only after the two largest increases for the year.

The National Association of Insurance Commissioners, which issues reports on the cost of coverage at national and state levels, in its most recent report indicated that the average premium for a policy with liability, comprehensive and collision coverage was about $902 in 2008.

But data show that prices have risen considerably since then. By factoring in changes in cost reflected in CPI reports, the price for that same type of policy should be about $985 in 2011—an increase of 9.2 percent.

Even though the national average is approaching $1,000, actual premiums will vary widely for consumers. This is because the cost of coverage is dependent on a wide variety of variables. Age, driver history, vehicle type, state-specific characteristics and different policy options are only a few of the factors that influence the amount a policyholder ends up paying for personal financial protection.