Americans concerned about the high price of gas and uncertainty in the economy will be cutting back on travel this coming Fourth of July holiday, according to a major U.S. auto insurance company.
AAA projected the number of Americans taking a trip of 50 or more miles from home this holiday weekend will dip 1.9 percent from last year to about 37 million. That figure is 10 percent lower than in 2007.
The Fourth of July holiday is normally one of the busiest times for auto travel because school-aged children are on vacation and working parents usually have a long weekend off.
But as gas prices climb because of summer demand and due to the increased anxiety of workers over job security and the overall economy, some families may decide to stay closer to home this year.
Price-conscious drivers may want to look at ways to save on their auto insurance. Insurance experts say driving fewer miles can actually qualify drivers for lower insurance rates, depending on their insurance company.
Get matched with auto insurance companies FREE at RateMarketplace.com.