29 Mar Ever Wonder Where Your State Ranks on Auto Insurance Cost

 Everyone knows that there are all kinds of things that can affect the cost of your automobile insurance such as accidents and tickets, but did you know that the state you live in may also determine your insurance rate? Recently, Insure.com released a ranking of state-to-state average costs of insurance premiums. Michigan is the costliest state to insure your automobile with average annual rates of $2,541, while Vermont is the cheapest state at an annual rate of $995. But where does North Carolina rank?

1. Michigan, $2,541
2. Louisiana, $2,453
3. Oklahoma, $2,197
4. Montana, $2,190
5. Washington, D.C., $2,146
6. California, $1,991
7. Mississippi, $1,896
8. New Mexico, $1,896
9. Arkansas, $1,836
10. Maryland, $1,807
11. North Dakota, $1,794
12. Connecticut, $1,786
13. Rhode Island, $1,747
14. Wyoming, $1,714
15. Hawaii, $1,707
16. South Dakota, $1,707
17. Georgia, $1,670
18. New Jersey, $1,663
19. West Virginia, $1,633
20. Kentucky, $1,629
21. New York, $1,627
22. Minnesota, $1,614
23. Washington, $1,584
24. Missouri, $1,563
25. Indiana, $1,518
26. Colorado, $1,508
27. Texas, $1,492
28. Delaware, $1,489
29. Florida, $1,476
30. Nebraska, $1,470
31. Pennsylvania, $1,468
32. Kansas, $1,461
33. Alaska, $1,454
34. New Hampshire, $1,334
35. Massachusetts, $1,328
36. Idaho, $1,325
37. Alabama, $1,306
38. Oregon, $1,306
39. Nevada, $1,300
40. Illinois, $1,290
41. Arizona, $1,280
42. Utah, $1,272
43. Virginia, $1,237
44. Iowa, $1,179

45. North Carolina, $1,154

46. Ohio, $1,152
47. Tennessee, $1,146
48. Wisconsin, $1,128
49. Maine, $1,126
50. South Carolina, $1,095
51. Vermont, $995

But why the variation? It’s because each state has different laws along with different weather that cause varied costs from other states. For instance, Michigan gurantees unlimited personal injury protection (PIP) to people injured in car accidents. Also, every state is affected by those driving uninsured because insurance companies can’t spread their risk sufficiently. Therefore, since uninsured drivers aren’t paying their share but still causing accidents and damage, the costs get passed to those following the law and paying for insurance.

Call Spivey Insurance Group today to talk to a helpful agent that will find the best policy for you!

Source: Insure.com