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Most And Least Expenses Insurance Spots

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By Author: Norris Rios
Total Articles: 572
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First, a Warning

Don't confuse the cost of insurance alone with the cost of owning a car. Rather, paying more for insurance could actually save you a lot of money. Someone who pays a lot might have better coverage, which saves you a financial crisis if you should get into a bad collision. One of the reasons some states have such high rates is because they mandate a higher level of coverage than other states. They do this for a reason: to protect their citizens from being bankrupted by a crash. In Michigan, costs are partly so high because the state requires that medical coverage be unlimited for life, meaning that if someone is permanently disabled in a collision, the insurer could wind up paying their bills for tens of years.

Companies charge more to take on that risk, but Michigan legislators believe it is an important protection for people in their state. Louisiana has problems with its legal system that send insurance prices through the roof. Claims resolutions are simply too expensive, and it hits consumers in their premiums.

The 10 Most Expensive States and Districts

1. Louisiana (the most ...
... expensive state in the country) 2. Michigan 3. Oklahoma 4. Montana 5. California 6. South Dakota 7. Washington, D.C. 8. Georgia 9. Illinois 10. Connecticut
The 10 Most Affordable States
1. Maine (the least expensive state in the country) 2. Vermont 3. Ohio 4. Wisconsin 5. New Hampshire 6. Iowa 7. Massachusetts 8. North Carolina 9. Arizona 10. Tennessee

The Influence of Cities

Insuring a vehicle is a whole lot more expensive in big urban areas. There is more traffic, more pedestrians, and more stress - meaning a higher risk of collisions. The statistics back this up, which is why people living and working in the big city pay more for coverage. In stark contrast, rural areas are always in the lower section of costliness within states. Things tend to be cheaper in the country, because there are fewer cars and fewer opportunities for devastating collisions.

The 5 Most Expensive Cities

Detroit, MI Philadelphia, PA Newark, NJ Los Angeles, CA Hempstead, NY Other Costs to Consider As far as the expense of owning a vehicle, insurance is only one factor in the equation. You have to add in taxes, fees, the cost of depreciation, financing and interest payments, fuel costs, maintenance prices, and repair fees. These prices vary by region, state, and city. Of course, most crucially, they vary by individual situation. No matter how high the average cost of owning a vehicle in one place is, there are always some people who go about things super smartly and save a lot of money. Good credit? Loans wont' be as expensive, and neither will coverage. Have a handyman in the family? Don't worry so much about maintenance costs! If fuel is expensive, get an electric vehicle. People with great driving records and who pick extremely safe vehicles will save a lot on car insurance. There are hundreds of ways to go about saving money, so don't be discouraged by state averages.

Who knows what it will cost next year?

A couple years ago, Washington, D.C. was the cheapest place to get car insurance. Politics change a bit each year, as do mandates and car insurance rates.

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