FOSTER CITY, California, April 23, 2020 / PRNewswire / – Insure.com, a comprehensive resource for insurance information, today released its annual ranking of the most and least expensive states for auto insurance. For the seventh year in a row, Michigan takes the top spot as the most expensive state to insure a vehicle, with an average annual premium of $ 2,878. This equates to 90% more than the current national average auto insurance cost of $ 1,517
While the state of Wolverine has by far the most expensive prizes, the second most expensive state of last year, Louisiana, claims that place, with an average of $ 2,389. Louisiana rates have increased substantially since 2019, up 4% from its 2019 average of $ 2,298.
For Michigan, one of the contributing factors to the high rates is its exclusive insurance system, which includes a blame-free auto insurance system that requires all drivers to have personal injury protection (PIP) coverage. PIP helps to cover medical costs for the insured, family members and all vehicle passengers who are injured during a car accident.
Overall, the average annual insurance cost for the 10 most expensive states, one of which is a district, is $ 2,082, a list that includes:
1. Michigan ($ 2,878)
6. Georgia ($ 1,936)
2. Louisiana ($ 2,389)
7. Washington, DC ($ 1,928)
3. Florida ($ 2,239)
8. Rhode Island ($ 1,918)
4. Texas ($ 2,050)
9. South Carolina ($ 1,759)
5. California ($ 1,968)
10. Delaware ($ 1,757)
In many cases, state rates have increased due to factors such as large numbers of uninsured drivers, adverse weather conditions and high population density. But these factors also help keep rates low in other states. For example, Maine has the least expensive auto insurance with an annual premium of $ 912. This is due in part to the 38th place in population density and the lowest rate of uninsured drivers in the country, with only the 4.5% of drivers without coverage.
The average low Maine annual auto insurance premium of $ 912 puts it 40% below the national average. Overall, the average annual auto insurance for the 10 least expensive states is $ 1,115, a list that includes:
1. Maine ($ 912)
6. Iowa ($ 1,123)
2. New Hampshire ($ 985)
7. Indiana ($ 1,213)
3. Ohio ($ 1,034)
8. North Dakota ($ 1,229)
4. Wisconsin ($ 1,049)
9. Legato – Virginia ($ 1,270)
5. Idaho ($ 1,062)
9. Legato – Pennsylvania ($ 1,270)
"The goal behind our survey is to show consumers that their state has unique circumstances affecting auto insurance premiums, such as Michigan and its blame-free auto insurance system," says Penny Gusner , senior consumer analyst at Insure.com. "If you are looking for the best rates available, understand the average auto insurance rates in your state. This can help you evaluate whether a policy is of good value, especially if you live in a state that is ranked among the most expensive. Find the factors that can be controlled and those that cannot, so use this information to your advantage by comparing as many rates as possible. "
To do this, Insure.com offers an interactive map that gives motorists a glimpse of state tariff information and shows how each one compares with the national average. Insure.com also offers a tool for consumers to search for national and state auto insurance rates for 2020 vehicles – a must when looking to plan a new purchase of new cars.
For the entire report and its methodology, read: Car insurance rates by state, 2020 edition.
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Information on Insure.com
Insure.com is owned and operated by QuinStreet, Inc. (Nasdaq: QNST), a pioneer in providing online market solutions to match researchers with brands in digital media. QuinStreet is committed to providing consumers and businesses with the information and tools they need to research, find and select the products and brands that meet their needs. Insure.com is a member of the company's expert research and publishing division.
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