There are many factors that go into determining car insurance rates.
#Compare auto insurance rates by state drivers
On average, drivers in Richmond, Virginia are paying $2,219 a year for State Farm, while drivers in Detroit, Michigan are paying an average auto insurance rate of $27,412 a year for coverage from the same company That’s over $2,000 more a month!Įssentially, the extra cost for car insurance in Michigan is enough to cover the monthly cost of buying a brand new BMW (which may not be worth no matter how helpful BMW has been in some cities solving parking problems). Here’s an actual dollar amount example with real-life data: When you dig deeper, the differences are even more alarming. Many drivers with identical backgrounds, driving records, credit scores, and personal profiles are required to pay hundreds to thousands more a month just for having different U.S. have more than a $8,141 annual price difference between them. It may not surprise you to learn that some addresses in the U.S. So the average rates for drivers in these two states would be wildly different. You’re more likely to be hit by another driver in New York City than you would be in Wyoming due to volume of drivers on the road and time in traffic. Part of it can be explained by state laws, but part comes down to risk.
WY Wyoming What are the different car insurance rates by state?ĭid you know that where you live can significantly impact car insurance rates when it comes to car insurance? The difference in car insurance rates by state – for the same coverage – can be downright shocking (and seem quite unfair).
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