Michigan's Unique Approach to Auto Insurance Explains This Expensive Car Insurance. Auto insurance premiums are part of the lives of nearly 230 million US drivers. The cost of car premiums can vary widely, not only from person to person, but also much broader, such as the state in which you drive. Six of the 10 most expensive states for auto insurance premiums were also among the 10 highest states in population density.
Only Louisiana was a state with a premium cost above 10 and a population density in the lower half of the Census Bureau's density ranking. We also found that the opposite applies to most of the cheaper states for auto insurance. As defined by the Census Bureau, 81% of Americans live in urban areas. Average disposable income was not such an obvious factor, at least at the state level.
Only four of the 10 most expensive states for auto insurance premiums across the Northeast Corridor were states with average incomes higher than the national average. States with the lowest average income, such as Georgia, Louisiana, Michigan, and South Carolina, also have some of the highest premium costs. This year, Louisiana ranked first, dethroning Michigan as the long-term king of high auto insurance rates. The seriousness of your violation and the number of incidents you have in your MVR will affect your car insurance premium increase.
Location matters to auto insurance companies, so if you're moving across the state or to a new state, be prepared for your premiums to change. To determine the average cost of car insurance, Bankrate's editorial team evaluated a variety of factors. Since there are many factors involved in car insurance rates, learning more about the average cost of car insurance and the factors that influence costs could help you find the best car insurance for you. When buying car insurance, knowing the average cost of car insurance, both nationally and within your state, can be useful for comparing quotes.
After comparing the quotes and understanding which car insurance best fits your requirements, you can make the final decision on buying the car insurance policy. This means that if your car is a favorite of car thieves or ends up in more crashes, you'll pay more for car insurance, regardless of whether you ever made a claim. A very recent change in car insurance laws affects future costs, but some worry that some rates could go even higher. This means that insurance companies need to consider those designs when setting their rates, and the faster you go when you're in an accident, the more damage will be caused to your car.
The following table shows the average annual and monthly premiums of some of the country's largest auto insurance companies by market share. The car insurance situation in Maine is pretty much the same as last year, according to Judi Watters, a consumer outreach specialist at the Maine Insurance Bureau. Sample insurance quotes were based on a 40-year-old male driver with a clean driving record who has comprehensive and collision coverage. Some states don't say directly in their laws that you should buy auto insurance, New Hampshire, Tennessee and Virginia are the main ones; however, all states require you to have means for financial responsibility if you are in an accident.
However, there are hundreds of different types of vehicles on the market, which means there are likely to be other cars that are cheaper to insure. .