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What States Have The Most Expensive Car Insurance?

Posted in driving, General, Tips by Kurt Ernst | March 23rd, 2011 | 2 Responses |

In Florida, there's a 1 in 4 chance she doesn't have insurance.

Let’s face it – car insurance is one of those things you drop money on but hope to never use. When it comes to insurance, especially in today’s litigation-happy society, there really is no such thing as “too much coverage”; the problem comes with balancing what you’ll need for a worst case scenario versus what you can afford based on your own personal budget. A lot of factors go into determining what companies charge you for insurance, and age, sex and driving record are no longer the sole factors in determining what you’re likely to pay. In fact, your credit record and credit history is a lot more likely to set your rates these days than a ticket for five miles per hour over the speed limit. Want to know what the most expensive states are for car insurance? Read on to find out.

First, some background: the list, from Wallet Pop, compiles average quotes from six providers per state for a 40 year old male driver with a 12 mile commute. The dollar amounts shown are for yearly coverage, based on $100k cover for the driver and $50k coverage for property damage.

1. Michigan, $2,541
2. Louisiana, $2,453
3. Oklahoma, $2,197
4. Montana, $2,190
5. Washington, DC, $2,146
6. California, $1,991
7. Mississippi, $1,896
8. New Mexico, $1,896
9. Arkansas, $1,836
10. Maryland, $1,807

The cheapest state? That would be Vermont, where the same level of coverage will set you back just $995 per year. Why are some states so high priced? Much of it has to do with uninsured motorists; get hit by one, and it’s your insurance company paying the bills even if you’re not at fault. Of the five states with the highest number of uninsured motorists, three (New Mexico, Mississippi and Oklahoma) also make the list for most expensive insurance.

Source: Wallet Pop

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2 Responses

  1. Cost of living* says:

    …very surprised Jersey isn’t on the list- I guess it is due to the very specific parameters set up by Wallet Pop

    • Kurt Ernst says:

      Yeah, I can second that comment. Not only is auto insurance pricey in NJ, it used to be hard to find a company that would even insure you if you moved from out of state.