Auto insurance rates are on the rise. They have increased by 3.4% to 7.4% in various states. These ever increasing car insurance rates affect the car owners across the nation. The insurance rates depend on different risk factors. However, auto insurance companies decide the rates as per the location. There are some states with the highest car insurance rates. The same is due to certain important reasons. The average insurance rates for car change every year depending on various concerning factors.
Listed here are the states with the highest auto insurance rates for the year 2018:
Texas: This year, people from Texas are expected to pay $1,810 towards auto insurance.
Delaware: The annual insurance premium for Delaware residents is going to be $1,700 on an average this year.
Wyoming: For auto insurance in Wyoming, people would need to pay an annual rate of $1,338 on an average.
California: California is infamous for horrible traffic. To add to the woe, residents are expected to shell out $1,713 for insurance premium this year.
Washington, D.C.: The residents of the national capital are supposed to pay $1,160 as the car insurance premium rate in 2018.
Florida: People of Florida need to get ready to pay a sum of $1,878 toward car insurance this year. The reason for a high rate of interest is because the auto insurance frauds are rampant in this state.
Rhode Island: Rhode Island residents need to buckle up since they are expected to pay $2,004 in this year.
Connecticut: Connecticut residents will be required to pay $1,544 this year which is quite high considering the national average. One of the main reasons for this is the high density of automobiles per square miles on the road as compared to other places.
Louisiana: Among all the states, Louisiana was the most expensive in the years 2010, 2012, and 2013. Car owners are expected to pat $2,225 on an average this year. The reason for such a high rate of premium is due to the presence of higher than average number of an uninsured motorists driving on the road. There are several people who drive without a driving license in Louisiana.
Michigan: Michigan holds the top position this year with car owners required to pay $2,610. This state has been the highest insurance premium payer five times out of the eight times this study has been conducted. The most important reason for this is the state’s policy of no-fault car insurance system. This system requires the automobile owners to purchase personal injury protection coverage that would pay for the medical expenses if he or any other household residents are injured in an automobile accident. There are about 21% people driving on the road without a car insurance.
Save on insurance
There are certain ways that need to be considered if you want to enjoy the best car insurance rates. To start with, look for companies that offer a budget car insurance. These type of companies would need you to ensure that you take very good care of your car. For instance, if you have a CarLock anti-theft program installed on your computer, or if you have a GoPro, it could also save some money on your insurance premium. In order to save money, you have to have an impeccable driving record. Then there are driving tests to be given that can help you save money if you pass them properly.
At the time of taking car financing, try to look for a classic car insurance. It is true that insurance costs a lot of money but it is necessary to ensure safety. Thus, one must find a way to save on insurance instead of not buying an insurance at all. It is advisable to save from your monthly expenses to pay for insurance since you cannot miss paying for insurance out of everything else.