NC Ranks in Top Five Least Expensive States for Auto Insurance

Winston-Salem, NC 3/30/2012

Louisiana has the most expensive car insurance rates in the nation, followed by Oklahoma and Michigan, according to data from the National Underwriter's survey of premiums for 2012 models.

Those states were also in the top three in 2011 and 2010.
 
Car insurance rates are cheapest in Maine, followed by Iowa and Wisconsin.
State Rankings of 2012 Auto Insurance Premiums
Rank State Avg. annual premium
1 Louisiana $2,536
2 Oklahoma $2,047
3 Michigan $2,013
4 West Virginia $2,002
5 Washington, D.C. $1,866
6 Montana $1,856
7 Rhode Island $1,830
8 Wyoming $1,732
9 California $1,709
10 Georgia $1,694
11 Connecticut $1,665
12 Texas $1,661
13 Florida $1,654
14 Delaware $1,652
15 New Jersey $1,608
16 Pennsylvania $1,598
17 Hawaii $1,594
18 Kentucky $1,572
19 Mississippi $1,502
20 Missouri $1,455
National average $1,438
21 Alaska $1,431
22 North Dakota $1,426
23 New York $1,413
24 Kansas $1,410
25 Massachusetts $1,378
26 Maryland $1,372
27 Alabama $1,345
28 Arkansas $1,334
29 Colorado $1,322
30 Utah $1,315
31 Washington $1,305
32 South Dakota $1,303
33 Indiana $1,301
34 Virginia $1,297
35 New Mexico $1,274
36 Minnesota $1,264
37 Nebraska $1,244
38 Oregon $1,241
39 Tennessee $1,228
40 Nevada $1,223
41 Illinois $1,192
42 Arizona $1,176
43 New Hampshire $1,133
44 South Carolina $1,108
45 Ohio $1,099
46 Vermont $1,063
47 North Carolina $1,022
48 Idaho $1,011
49 Wisconsin $987
50 Iowa $985
51 Maine $889

High rates usually cannot be pinned on a single cause. Rather, a variety of unfortunate circumstances combined to make insurance bills more painful in some states:
  • Costly storm seasons in 2011 impacted rates in many states.
  • Once again, uninsured drivers caused high premiums for others because they didn't pay their share for accidents they caused. In most cases, drivers hit by uninsured motorists have to rely on their own coverage to fix their cars or pay for medical treatment. For example, an estimated 24 percent of drivers are uninsured in both Oklahoma and Florida, according to the Insurance Research Council. Maine and Massachusetts, on the other hand, have the lowest shares of uninsured drivers -- just 4.5 percent.
  • Agents in Michigan and Louisiana say a tough economy has made it hard for many drivers in their states to afford insurance. "I have people in my office on a weekly basis who say they just can't do it," says Jason Verlinde, vice president of Verlinde Insurance Agency in Richmond, Mich., and a board member of the Michigan Association of Professional Insurance Agents.
  • Please contact us with any questions.

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