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?
[table id=1 /]
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: