Well, at least you don't live in Washington, D.C....
12/21/2009 10:35:00 AM
Everyone recognizes that auto insurance is a necessary expense to add to their budget, but have you ever wondered how much of your budget auto insurance takes versus someone that lives somewhere else?
Believe it or not, you could be paying double what someone else does just because of where you live! There are a lot of location based factors that affect auto insurance rates such as population density and traffic density, theft rates, and legal systems that may allow more lawsuits. The National Association of Insurance Commissioners studies the cost of auto insurance in each state and reports its findings. In 2007, North Dakota was the least expensive place to get auto insurance (on average) with the average expenditure being $512 annually. Washington D.C. has the highest cost at $1140 with New Jersey closely following at $1104. Florida was ranked 5th with an average expenditure of $1043.
To see more detail of rates in different states and other interesting data, you can visit the Insurance Information Institute at http://www.iii.org/media/facts/statsbyissue/auto/
Believe it or not, you could be paying double what someone else does just because of where you live! There are a lot of location based factors that affect auto insurance rates such as population density and traffic density, theft rates, and legal systems that may allow more lawsuits. The National Association of Insurance Commissioners studies the cost of auto insurance in each state and reports its findings. In 2007, North Dakota was the least expensive place to get auto insurance (on average) with the average expenditure being $512 annually. Washington D.C. has the highest cost at $1140 with New Jersey closely following at $1104. Florida was ranked 5th with an average expenditure of $1043.
To see more detail of rates in different states and other interesting data, you can visit the Insurance Information Institute at http://www.iii.org/media/facts/statsbyissue/auto/
