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The average annual car insurance premium is $1,427, according to the report. The state with the highest rates is Michigan, the nation’s auto capital.
The state with the lowest average rates? North Carolina. Here is a state-by-state breakdown of auto average insurance rates:
Here’s a list of 2018 auto insurance rates by state
Alabama — $1,358
Alaska — $1,152
Arizona — $1,247
Arkansas — $1,458
California — $1,713
Colorado — $1,435
Connecticut — $1,544
Delaware — $1,700
District of Columbia — $1,464
Florida — $1,878
Georgia — $1,388
Hawaii — $1,079
Idaho — $1,018
Illinois — $1,120
Indiana — $1,133
Iowa — $1,015
Kansas $— 1,427
Kentucky — $2,050
Louisiana — $2,225
Maine — $927
Maryland — $1,240
Massachusetts — $1,201
Michigan — $2,610
Minnesota — $1,258
Mississippi — $1,800
Missouri — $1,334
Montana — $1,615
Nebraska — $1,184
Nevada — $1,802
New Hampshire — $1,083
New Jersey — $1,679
New Mexico — $1,331
New York — $1,582
North Carolina — $865
North Dakota — $1,230
Ohio — $1,037
Oklahoma — $1,542
Oregon — $1,377
Pennsylvania — $1,433
Rhode Island — $2,004
South Carolina — $1,361
South Dakota — $1,268
Tennessee — $1,315
Texas — $1,810
Utah — $1,112
Vermont — $1,027
Virginia — $901
Washington — $1,160
West Virginia — $1,378
Wisconsin — $1,040
Wyoming — $1,338
Was just about to post this. Many other states are rural too. Maybe Goodwin, the insurance commissioner really is capping things.
The best may be the competition. I change my auto insurance every 3 years to make sure I have the lowest rates. Remember, loyal auto insurance customers are penalized with higher rates.
It wasn't until relatively recently in Massachusetts that you could buy insurance direct - in the past you were required to go through an agent, which drove up prices. Not sure if some other states are the same.
That's what I figured. Despite the rhetoric you often hear, regulation keeps costs low.
It's not so much regulation related to insurance but more our state laws. One biggie is no fault which exists in some states and pretty much doubles your rate. Second is how N.C. assigns blame to parties, instead of using the % or fractional system if one party is even partly at fault the award is $0. Every now and then some lawyer lobbyist group will put out radio ads trying to get us to vote for a "fair" award process, the one that springs to mind is the story of the guy changing his tire on an off ramp late at night. Someone hit him and the family of course sued but was awarded $0 because the victim was actually on the road at the time. Since he partially contributed to the accident he was not afforded any award.
Another example would be if you were driving in your neighborhood and a kid ran out in front of you after a ball. If you hit and kill the kid, in many states you could be assigned at least 50% of the blame which means whatever award the jury passes down, the victim's family gets half (50%). In N.C. it would be 0%.
Our homeowner laws are set up in a similar fashion, there is no "oh I tripped on your grass" type of lawsuits here.
I'm not a fan of some things here but those laws go a long way towards helping keep insurance costs down.
It's not so much regulation related to insurance but more our state laws. One biggie is no fault which exists in some states and pretty much doubles your rate. Second is how N.C. assigns blame to parties, instead of using the % or fractional system if one party is even partly at fault the award is $0. Every now and then some lawyer lobbyist group will put out radio ads trying to get us to vote for a "fair" award process, the one that springs to mind is the story of the guy changing his tire on an off ramp late at night. Someone hit him and the family of course sued but was awarded $0 because the victim was actually on the road at the time. Since he partially contributed to the accident he was not afforded any award.
Another example would be if you were driving in your neighborhood and a kid ran out in front of you after a ball. If you hit and kill the kid, in many states you could be assigned at least 50% of the blame which means whatever award the jury passes down, the victim's family gets half (50%). In N.C. it would be 0%.
Our homeowner laws are set up in a similar fashion, there is no "oh I tripped on your grass" type of lawsuits here.
I'm not a fan of some things here but those laws go a long way towards helping keep insurance costs down.
Makes sense. That helps keeps the insurance costs down, but that's only part of the equation. Regulation keeps the premiums low. Insurance companies aren't free to set their own rates. They are regulated, just as electric companies are.
Can confirm that my insurance came down a decent bit when I moved from Michigan.
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