Which Cities pay the Most and the Least for Insurance
Detroit is the most expensive and small city in Ohio is the least expensive
Auto insurance rates in Arizona are based on: 3
The Arizona Department of Insurance The purpose of this Arizona Department of Insurance and Financial Institutions (DIFI) publication is to encourage consumers to do some comparison shopping for automobile insurance before making a purchase. DIFI based the premiums in this publication on hypothetical situations, so as to provide an example of the available premium range …
Auto insurance rates are based on: 2
Car insurance rates by state In the past year, 38 states (including Washington, D.C.) saw an increase in premiums, while 13 states saw a decrease in rates.Louisiana saw the largest increase of 42%, which now puts the state at the top spot for most expensive insurance. Marylandhad the largest decrease at around 9%; however, the …
Auto insurance rates are based on: 1
WHERE YOU LIVE
Why are rates changing? Part 4
LEGISLATION AND REGULATION Each state has its own insurance laws and government regulators. Each sets a minimum level of coverage residents must carry, determines if and when insurance companies can raise rates and proposes new laws regarding fraud and more. Insurance departments in some states have prohibited certain factors from being used to price insurance — notably gender, …
Why are rates changing? Part 3
PEOPLES DRIVING BEHAVIOR Americans are increasingly distracted by phones and other devices behind the wheel. This and other reckless behaviors (like aggressive driving and DUI) increase risk — and therefore rates — for everyone. Even with fewer people on the road and fewer miles traveled, major accidents are on the rise. The fatality rate from …
Why are rates changing? Part 2
THE ECONOMY Insurance is all about risk. Car insurance pricing takes into account individual risks associated with drivers and their vehicles, but broader environmental, government and economic factors also play a role. Supply chain issues as a result of the COVID-19 pandemic have skyrocketed the cost of new and used vehicles. In 2021, there was …
Why are rates changing?
When risks change, rates change Insurance is all about risk. Car insurance pricing takes into account individual risks associated with drivers and their vehicles, but broader environmental, government and economic factors also play a role. POPULATION AND CRIME The U.S. population is up more than 8% since 2010, and top metro areas are growing even …
Average Car Insurance Rates are Rising Again
After a drop of 3.9% in 2020, they were up in 2021 Source: The Zebra.com
What is the state of auto insurance in 2022, part 3?
Weather, weather everywhere Wildfires, flooding, hurricanes, hail storms — catastrophes like these cause widespread property damage and an onslaught of insurance claims. Insurance companies raise rates to account for these losses. In 2021, wildfires and tornadoes were up, and while there were fewer hurricanes and tropical storms than in 2020, it was still considered a …
What is the state of auto insurance in 2022, part 3? Read More »