Average Car Insurance By State
But other factors come into play too such as car insurance laws.
Average car insurance by state. The average cost of a car insurance policy with full coverage is 2390 per year or 200 per month. This is a stunning 489 more than second place louisiana and a whopping 90 higher than the national average of 1517. Based on reported rates from several state governing insurance departments and information from organizations such as the national association of insurance commissioners the national car insurance average rate is just above 900 per year of coverage. Generally states that are more urban or have large populations tend to have higher average car insurance costs than rural states.
The states average premium is nearly 3000. When deciding how much coverage to buy the best advice is to get as much as you can afford. The main culprits for high prices in any state are the presence of a no fault insurance system a high population density and frequent car accidents. When it comes to expensive car insurance premiums michigan is head and shoulders above the competition with an average annual premium of 2878.
For instance drivers in no fault states such as michigan and florida often pay more for insurance than do drivers in other areas of the country. 4486 79 of income. The average cost of a car insurance policy is 937 per year or 78 per month when averaged across states for our sample driver with a policy that meets the minimum requirements of each state. Driving with a blood alcohol content of 008 or more will jack your rates by 340 percent.
If youre convicted of reckless driving or passing a stopped school bus your rates will go up by 80 percent. One of the most significant determinants of car insurance prices is your home state. State minimum car insurance is required to drive legally but rarely provides enough financial protection to prevent you from paying out of pocket for even relatively minor accidents that you cause. If l ow liability limits are a big part of louisianas pricy insurance costs michigan has the opposite problem.
What is the average car insurance cost by state. National average car insurance rates. Michigan is the most expensive with an average yearly premium of 3466 while maine is the cheapest at 1062. Continue reading for some important considerations to keep in mind when comparing your car insurance.
Average car insurance rates by state may vary based on legal regulations and insurance companies efforts to price accurately based on these differences. The state requires drivers to carry. If youre at fault in a minor accident your normal nc car insurance rate will go up by 30 percent. Average car insurance rates by coverage level.