What Is The Average Cost Of Auto Insurance?

What is the average price paid to insure an automobile? Providing an answer to such a question would be difficult. It is based for the most part on where you reside, instead of on the type of auto you own, as many believe.

City dwellers or people in urban areas need to spend more than those who reside in the country. There will be a greater chance of an accident if there is more traffic on the road.

A lot of factors play into the amount of premium an insurance-seeker will have to pay, including their age, but the most attention is given to the likelihood that the insurance company will have to pay out a claim.

Based on studies gathered by the National Association of Insurance Commissioners, the median cost of car insurance fell, as a whole, by 1.It was 7% in the year 2006. Recent reports cite the ten states with the highest premium costs as well as the ten least expensive states to live relative to the cost of auto insurance. There is a significant difference between the highest and the lowest.

For people in Washington, DC the average annual payment is $1,164. The average in North Dakota is $530, which is less than 50%. If you are considering moving to lower your insurance rates, you may want to consider Iowa, Kansas, South Dakota, Idaho, Wisconsin, North Carolina, and Nebraska. In a good number of states the cost to insure a car is lower than six hundred dollars annually.

However, a point to take note of, the typical cost of a homeowner's in North Carolina is higher because of hurricanes that frequent the coast. There are many factors to think about when you are picking a new place to live.

States that have the most high rates include New Jersey, New York, Florida, and Delaware. Those states expend more than $1000 each year. Different cities also have different rates. The state average rate is driven up by cities with higher rates

Just two years ago, people residing in Detroit could expect to pay over five thousand dollars a year for auto insurance. However, the median amount statewide was under $1000. Michigan is a large state containing plenty of countryside areas. People living in rural areas pay much less than those who live in Detroit.

Which firms are the biggest sellers of car insurance? You may be interested in knowing which companies are the top auto insurers in the United States. The top 3 include Progressive, State Farm, and Allstate. Go online to compare quotes from these three as well as many others.