Auto insurance rates vary in different states. The least auto insurance is paid at Maine Ohio, where consumers enjoy very low rates of insurance. Insure.com a website shows statistics stating Maine charges consumers the country’s least expensive auto insurance. Drivers in other states like Michigan who have an average annual insurance rate which is almost twice as much as the average insurance rates of the country itself pay the highest insurance coverage in the country.
Maine is the least expensive state with $902.85 average coverage falling lower than Ohio and Vermont and Louisiana State with the highest insurance coverage rate of $2510.87 next to Michigan.
Insure.com a public company gives interested consumers scores and statistics about the expenditure by consumers in each state, for various forms of insurance. The site shows labels stating their statistics are not the same as the NAIC which is a government sector which records the money consumers spend on auto coverage on a regular basis.
John Oxendine believes the NAIC sets the “gold standard that everyone follows.” Oxendine the Georgia Insurance Commissioner said the NAIC categorizes Georgia state insurance as a state ranked around the half way mark on the list with $782 as the average insurance for the state.
Factors of insurance coverage rates:
Insurance rates are affected by various factors. The population and geographical features of the region is important. A higher populated region is more prone to accidents than a less populated region. The features of the land are important as areas with bad geographical features have lesser population and lesser vehicles. Bigger states have more complex structures for their legal proceedings and hence have higher insurance coverage to cover the required proceedings. High crime and theft rate in a region will increase the coverage rate for consumers. Consumers have to pay for the extra expenses in more complex areas thus increasing the insurance coverage rates in comparison to smaller regions.
The Highest and Lowest Insurance Rates
Louisiana State had the highest insurance coverage rates with $2,510.87. Michigan State followed, tailed by Oklahoma, Montana, and California with Oklahoma scoring $1,869.39 on coverage and Georgia with $1,751.42 and Connecticut with $1,678.90.
Tennessee ended up in the tail end with $1,170.12, Massachusetts showed lowered insurance rates in comparison with Louisiana with an average coverage of $1,043.80. Iowa fell at $1,039.04 insurance per person with Ohio, Vermont and Maine with the least average insurance coverage of $902.85.