Best and Worst States for Auto Insurance Premiums

December 10, 2004 10:18 PM

Best and Worst States for Auto Insurance Premiums

BankRate cited a National Association of Insurance Commissioners (NAIC) study that highlights the dramatic difference on average premium charged in different states. For example, people in New Jersey paid an average of $1,182 per car for liability, collision and comprehensive coverage, while Iowans only needed to pay $596 per car. The study shows a national average of $817 per car based on 2001 data.

Topping the list are all New England locations:

1. New Jersey ($1,182)
2. New York ($1,161)
3. Washington D.C. ($1,156)
4. Rhode Island ($1,027)
5. Massachusetts ($1,013)

And at the bottom:

46. South Dakota ($648)
47. North Dakota ($634)
48. Wisconsin ($630)
49. Idaho ($630)
50. Maine ($621)
51. Iowa (596)

For your curiosity, NAIC's website gave out some extra interesting data points. For example (all data points are for 2001):

- Total Liability Premium Written: $70,365,241,891
- Average Liability Premium: $412.96
- Total Collision Premium Written: $34,006,423,658
- Average Collision Premium: $270.98
- Total Comprehensive Premium Written: $17,917,954,121
- Average Comprehensive Premium: $133.49

A word of caution: the above averages are simply calculated using total premium divided by total insured cars. The state average is highly dependent on the average value of the car and the average coverage/deduction, which may differ from one state to another. As a result, the numbers are not meaningful for comparing the relative expensiveness of car insurance in different states. Don't use this as a reference to estimate how much your auto insurance premium will change when you move.

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Read all 4 posts in the same category of Auto Insurance:

Health Savings Accounts Expand Medical Coverage Options - Dec 20, 2004
Insurance Rates To Rise For Massachusetts Homeowners In Risky Weather Regions - Dec 17, 2004
Why Every Policyholder Needs Umbrella Insurance - Dec 17, 2004
Many States Altering Rules On Insurance - Dec 13, 2004
19 Ways To Save On Auto Insurance - Dec 11, 2004
Auto Insurance Basics - Dec 11, 2004
Vehicle Insurance Ratings from State Farm - Dec 10, 2004
A Term Life Insurance Policy That Pays Back, Sometimes - Dec 10, 2004
Life Insurance For Your Kids: Creepy, But... - Dec 10, 2004
Best and Worst States for Auto Insurance Premiums - Dec 10, 2004
What You Need, What You Don't - Dec 10, 2004
Don't Let Your Fears Sell You Insurance - Dec 10, 2004
Nine Ways To Cut the Cost of Your Homeowner's Insurance - Dec 10, 2004
A Few Words First ... - Dec 10, 2004
The Start of The Insurance Weblog - Dec 09, 2004
Health Savings Accounts Expand Medical Coverage Options - Dec 20, 2004
Insurance Rates To Rise For Massachusetts Homeowners In Risky Weather Regions - Dec 17, 2004
Why Every Policyholder Needs Umbrella Insurance - Dec 17, 2004
Many States Altering Rules On Insurance - Dec 13, 2004
19 Ways To Save On Auto Insurance - Dec 11, 2004
Auto Insurance Basics - Dec 11, 2004
Vehicle Insurance Ratings from State Farm - Dec 10, 2004
A Term Life Insurance Policy That Pays Back, Sometimes - Dec 10, 2004
Life Insurance For Your Kids: Creepy, But... - Dec 10, 2004
Best and Worst States for Auto Insurance Premiums - Dec 10, 2004
What You Need, What You Don't - Dec 10, 2004
Don't Let Your Fears Sell You Insurance - Dec 10, 2004
Nine Ways To Cut the Cost of Your Homeowner's Insurance - Dec 10, 2004
A Few Words First ... - Dec 10, 2004
The Start of The Insurance Weblog - Dec 09, 2004
Health Savings Accounts Expand Medical Coverage Options - Dec 20, 2004
Insurance Rates To Rise For Massachusetts Homeowners In Risky Weather Regions - Dec 17, 2004
Why Every Policyholder Needs Umbrella Insurance - Dec 17, 2004
Many States Altering Rules On Insurance - Dec 13, 2004
19 Ways To Save On Auto Insurance - Dec 11, 2004
Auto Insurance Basics - Dec 11, 2004
Vehicle Insurance Ratings from State Farm - Dec 10, 2004
A Term Life Insurance Policy That Pays Back, Sometimes - Dec 10, 2004
Life Insurance For Your Kids: Creepy, But... - Dec 10, 2004
Best and Worst States for Auto Insurance Premiums - Dec 10, 2004
What You Need, What You Don't - Dec 10, 2004
Don't Let Your Fears Sell You Insurance - Dec 10, 2004
Nine Ways To Cut the Cost of Your Homeowner's Insurance - Dec 10, 2004
A Few Words First ... - Dec 10, 2004
The Start of The Insurance Weblog - Dec 09, 2004

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