How much does the average person fork out for auto insurance? Because there are so many variables, this is by no means to an easy question to answer. For instance, how much you pay depends on where about you live even more than it depends on the type of car you own.
People living in rural areas almost always pay less for insurance than those who live in cities, simply because there is more traffic in cities, and that means there’s more likely to be accidents.
Insurance companies take several factors into consideration when they set premiums. These would for example include a driver’s age, but of course their biggest concern is whether or not they will be the ones who have to pay a claim.
The National Association of Insurance Commissioners put together a report stating the typical cost of auto insurance dropped by 1 overall. They made a list of the 10 most and least expensive states to reside in when considering auto insurance costs.
In Washington DC, the average household spends more or less $1,000 every year, while in North Dakota, the yearly average is only $530. As you can see, the difference is significant.
If you ever decide you want to move from where you’re staying at the moment so that you can also take advantage of cheaper car insurance, then you should ideally consider places such as North Carolina, Wisconsin, Kansas, Nebraska, and South Dakota. In all of these states, the average cost of comprehensive car insurance is less than $600 per year.
There are many things you need to take into consideration before you relocate, other than car insurance. For example, if you moved to North Carolina, you’d pay less for car insurance, but you’d pay more for home insurance, given that the region often suffers from hurricane damage.
According to recent surveys, Florida, New York, Delaware, and Nevada have the most elevated insurance car rates, and in New Jersey, one can expect to pay about $1,000 per year.
Even within a particular state, different cities have different rates. What this means is that a state’s average rate will inevitably be driven up by the high rates in certain cities. Only two years ago, car owners living in Detroit were paying as much as $5,000 per year for insurance.
Even though car insurance is so expensive in Detroit, that doesn’t mean the entire state pays that much. In fact, the average is actually under $1,000. Also, Michigan is fortunate enough to have numerous rural regions, and if you choose to live in one of the rural areas you will most certainly pay even less for your insurance.
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