Auto Insurance Ranks
June 18th, 2010 | 
Author: According to Insure.com an Arizona driver that pays the annual rate of approximately $1152 per vehicle and has an annual income of approximately $42,000 pays around 3 percent of his or her gross income for auto insurance alone. Arizona was the ninth most expensive state to insure your vehicle, according to new documents we have moved to the 43rd. Louisiana is ranked number one ($2500 per vehicle) for the most expensive state to insure your vehicle and is closely followed by the state of Michigan ($2098 per vehicle). Currently, Maine is the most affordable state at $900 to insure your vehicle.
Why such a difference?
Louisiana had an explanation to the high cost of insurance. The court system will only see a case that has a claim that is greater than $50,000. This means that a lot of settlements will stop at $49,000 to avoid a jury trial. This makes the amount that a claimant can get much higher when there is an at fault accident. Michigan explains their high rates on the unlimited medical benefits when there is an accident. This will follow the injured party for life, no matter what. Because of this coverage, car insurance has become the main source for medical coverage. This is what makes the rates so astronomical.
What is Maine’s explanation for the low low rates at more than half the rate of Louisiana? Less people and low miles driven. Also the people of Maine are not looking for that big settlement when there is an accident. So keep that in mind when you look at your renewal. It could be worse.
Top 10 Most Expensive States
- Louisiana
- Michigan
- Oklahoma
- Montana
- California
- South Dakota
- Washington DC
- Georgia
- Illinois
- Connecticut
Posted in Auto Insurance | 
Tags: Arizona is 43rd, Arizona ranking, Auto Insurance, Insurance ranking, Louisiana ranks highest
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