Car Insurance Rates By State
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Based on the number and severity or cost of car insurance claims within the area insurers assign zip codes different risk levels.
Car insurance rates by state. This is because a number of factors. As an example michigan uses a unique no fault insurance system that in many ways is responsible for its high premiums. If youre moving from one state to another car insurance might be low on your list of logistical issues. The single largest determining factor of what you pay for car insurance is where you live.
The state most widely. Car insurance by state also varies with the zip code taking into consideration the prevalence of vehicle theft and other crime rates where the insured lives compared to the rest of the state. State required insurance minimums can also raise or lower insurance costs. Car insurance rates are set based on a variety of rating factors including age gender profession driving history credit score coverage level and specific location.
Some states have unusual car insurance requirements such as high limit personal injury protection which can significantly raise rates. Maine is at the other end of the spectrum with the cheapest rates in the country at just 1268 for full and 489 for minimum coverage amounts. The rates shown here are for comparative purposes only and should not be considered average rates available by individual insurers. Because car insurance rates are based on individual factors your car insurance rates will differ from the rates shown here.
Of course other factors will determine what your final rate may be but ultimately your location will be the biggest factor in what you pay. States that require more coverages such as. States set car insurance regulations and minimum insurance requirements which can have a major impact on the rates paid by residents. Car insurance rates increased in 41 states last year with colorado experiencing the largest increase at 19 percent.
Car insurance rates are on the rise for about 56 million drivers across the united states in the first half of 2020 according to data gathered by sp financial services. Every state has its own car insurance laws and thats one reason why car insurance rates by state vary dramatically across the country. The 10 states with the cheapest car insurance costs. Michigan is the most expensive state to buy car insurance for both minimum 5282 and full coverage 8723 policies due to its unique requirement of no limit personal injury protection.
How to handle car insurance when moving to a new state.
