"I expect car insurances premiums to be flat or falling throughout the country," said Robert Hartwig, chief economist of the Insurance Information Institute.

The reasons? Fewer accidents, policyholders making fewer claims because they've taken out bigger deductibles, safer cars, and the Baby Boomer are now "ensconced in their safest driving years," Hartwig said.

On average, drivers pay $867 a year for auto insurance, Hartwig said, but in the more expensive states, they may pay over $1,100.

Hartwig also expects to see lower premiums for term life policies because of increased longevity, and less expensive sales and distribution methods used by insurers.