Car insurance is one of the essential expenses of owning a vehicle. It protects you from financial losses in the event of an accident or theft and is also required by law in most states. But did you know that car insurance prices vary greatly from state to state? Factors such as the number of drivers, population density, and average driving speed all impact the cost of car insurance. In this article, we’ll take a look at which state in the US has the cheapest car insurance.
Before we dive into the data, it’s important to note that the cheapest car insurance in one state may not necessarily be the cheapest for you. Your individual circumstances, such as your driving record, age, and type of vehicle, all play a role in determining your insurance premium. That being said, the average cost of car insurance in each state can give us a good idea of which states tend to have the most affordable options.
According to the National Association of Insurance Commissioners (NAIC), the state with the cheapest average car insurance premiums is Maine, with an average annual premium of $889. This is significantly lower than the national average, which is around $1,548. Maine is known for its rural landscape and low population density, which helps keep insurance prices low.
Another state that tends to have affordable car insurance is Ohio. With an average annual premium of $947, Ohio ranks as the fourth cheapest state for car insurance in the US. This is due, in part, to the state’s milder climate and lower rates of accidents and theft compared to other states.
In third place is Idaho, with an average annual premium of $927. Idaho is a relatively rural state with low traffic density and a relatively low rate of accidents, which contributes to lower insurance prices.
It’s also worth noting that some states with a higher average premium still offer affordable options for specific drivers. For example, while Florida has the highest average car insurance premium in the US, at $2,055 per year, it also has many insurance providers that offer competitive rates to drivers with a clean driving record or who own certain types of vehicles.
To give you an idea of the range of car insurance prices across the US, here’s a list of the five states with the cheapest and most expensive average annual car insurance premiums:
Cheapest states:
- Maine ($889)
- Ohio ($947)
- Idaho ($927)
- Vermont ($966)
- New Hampshire ($1,014)
Most expensive states:
- Florida ($2,055)
- Louisiana ($1,716)
- Michigan ($1,548)
- Rhode Island ($1,486)
- Washington D.C. ($1,474)
See more detailed statistics right here.
When shopping for car insurance, it’s important to compare quotes from multiple providers to ensure you’re getting the best deal. You can also take steps to reduce your insurance premium, such as maintaining a safe driving record, purchasing a car with a high safety rating, and taking a defensive driving course.
In conclusion, while the cost of car insurance varies greatly from state to state, Maine, Ohio, and Idaho tend to have the most affordable options. However, it’s important to shop around and compare quotes from multiple providers to find the best deal for you. By taking steps to reduce your insurance premium and comparing quotes, you can ensure that you’re getting the most bang for your buck when it comes to car insurance.
