(BUSINESS WIRE) – Another risk of a faltering economy may be an increase in the number of drivers who travel American highways and byways without adequate auto insurance. Falling housing prices, rising unemployment and turmoil in the financial markets have hit consumers hard, and some may be cutting costs on protection on the road. As a result of the economic downturn, according to a recent study by The Insurance Research Council (IRC), as many as one in six drivers across the United States may drive without auto insurance by 2010.  

A recent survey conducted by The Hartford (NYSE: HIG – News) found that 86 percent of drivers don’t know what is in their auto insurance policy. It is evident that now, more than ever, drivers should examine their own auto insurance policy to see if it offers not only the most comprehensive coverage, but also suitable protection against uninsured motorists.

“Maintaining an adequate level of insurance is crucial,” said Michael Concannon, senior vice president for Personal Lines at The Hartford. “Every time a driver gets behind the wheel, it can protect them and their passengers from others who are uninsured and it will help drivers avoid added financial strain after an accident.”

For those affected by the economic downturn who may be considering dropping their auto insurance, it is important to note that auto insurance coverage is required in most states. Letting a policy lapse may not only be illegal, but could lead to financial problems in the event of an accident. There are, however, a number of ways to save money while still maintaining suitable levels of protection:

Raising deductibles may lower premiums substantially. Before choosing a higher deductible though, be sure to have enough money set aside to pay it in the event of a claim.

Buy auto and homeowners insurance through the same company to take advantage of multi-policy discounts. Customers with multiple policies with The Hartford are eligible for discounts.

Take a defensive driver course. For completing an approved course, drivers are eligible for a discount. Other discounts include good student credits, air bag discounts and anti-theft device discounts.

Reduce the number of miles driven or consider car pooling. The Hartford offers reduced premiums to motorists who drive a lower than average number of miles per year.

Drivers should make sure they’re with a carrier who won’t drop them if they have an accident. The Hartford assures continued coverage as long as a few simple requirements are met.

To review auto insurance coverage or for more information on ways to reduce premiums, drivers should contact their local independent agent or visit www.hartfordauto.com.

About The Hartford

The Hartford, a Fortune 100 company, is one of the nation’s largest diversified financial services companies, with 2007 revenues of $25.9 billion. The Hartford is a leading provider of investment products, life insurance and group benefits; automobile and homeowners products; and business property and casualty insurance. International operations are located in Japan, the United Kingdom, Canada, Brazil and Ireland. The Hartford’s Internet address is www.thehartford.com.

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Some of the statements in this release may be considered forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. We caution investors that these forward-looking statements are not guarantees of future performance, and actual results may differ materially. Investors should consider the important risks and uncertainties that may cause actual results to differ. These important risks and uncertainties include those discussed in our Quarterly Reports on Form 10-Q, our 2007 Annual Report on Form 10-K and the other filings we make with the Securities and Exchange Commission. We assume no obligation to update this release, which speaks as of the date issued.