It’s easy to feel ripped off when it comes to car insurance. Different rates in different states just doesn’t seem like a credible business model to most consumers, but each state has its own laws and its own insurance commission. Still, the variation is HUGE — from over $2,500 per year to a low of $900 per year. What isn’t easily seen in the table below is the variation that can occur between companies within the same state.
The fact is, each company has its own actuaries and statisticians and though state insurance commissions set maximums on what insurers can charge, markets are still allowed (for now) to determine how low the companies can go before they cry “Uncle!” It’s up to you and me to make certain we’re getting the lowest rate from the best insurance company we can find.
Where does your state rank?
Annual Car Insurance Rates by State
|8||District of Columbia||$1,753.19|
Sources: Insureme.com and Quadrant Information Services. Rates were calculated for over 2,400 vehicles (2010 model year); based on a 40-year-old single male driver who commuting 12 miles to work daily and includes $500 deductible on collision and comprehensive coverage.
After you see what your neighbors are paying, make sure you’re getting your best insurance rate by getting a free quote from reputable companies like: