Getting an auto insurance policy is not a simple task. At times, you don’t even know whether you made enough research before agreeing to a new policy.
It gets harder or even confusing when you realize that other people are getting good value for their money. But. let’s start making a bigger comparison.
We suggest you taking a heed on the annual auto insurance rates across the country. For example, Louisiana residents are bombarded with the most expensive auto insurance rates in the entire nation.
Comparing auto insurance rates between states could be refreshing or disappointing, but you should always be informed.
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Having said that, eTags.com came up with a list of the highest and lowest auto insurance rates per state.
By observation, Louisiana residents face auto insurance payments that averagely amounts to $2,536 a year.
That amount doubles the average auto insurance rate that drivers from Maine, Wisconsin, or Iowa pay to ensure their vehicles.
Look at the list below. Your state may be the one having the best auto insurance rates.
The highest annual auto insurance rates
Here’s a top 10 of the highest annual auto insurance rates in the US according to eTags:
- Louisiana: $2,536
- Oklahoma: $2,047
- Michigan: $2,013
- West Virginia: $2,002
- Washington, D.C.: $1,866
- Montana: $1,856
- Rhode Island: $1,830
- Wyoming: $1,732
- California: $1,709
- Georgia: $1,694
Note that it is essential to obtain a car insurance for your own protection. Not to mention that most states require drivers to be insured by law.
Yet, auto insurance rates vary from state to state. Many auto insurance providers use their own procedures for adjusting rates based customer’s driving record and profile.
By adhering to the rules, auto insurance companies also establish their rates based on local state’s insurance regulations, the amount of competition between insurers, severe weather conditions, and the number of uninsured/ underinsured drivers.
The lowest annual auto insurance rates
Let’s have a look at the list below to find out which states has the lowest annual auto insurance rates according to eTags:
- Maine: $889
- Iowa: $985
- Wisconsin: $987
- Idaho: $1,011
- North Carolina: $1,022
- Vermont: $1,063
- Ohio: $1,099
- South Carolina: $1,108
- New Hampshire: $1,133
- Arizona: $1,176
It could be beneficial to live in any of those states where carriers offer the lowest auto insurance rates in the country.
For example, Maine residents enjoy the cheapest auto insurance rates in the country at an annual average of $889.
Precisely, it gets even better if you live in Falmouth (Maine), as they boast the lowest auto insurance rates in the state. But how do these states get the lowest auto insurance rates?
Multiple factors that reduces expensive rates in a location include: low traffic density, fierce competition between insurers, lower crime rates, and lower records of natural disasters.