Your Car Insurance Costs What??
Posted in General Law Firm on August 24, 2016
When you are looking to buy a new car you don’t often think “well, how much will it cost to insure?”. With increases to the cost of living the cost of insurance may become a factor to consider. We all know that car insurance varies from vehicle to vehicle, but did you know it varies from state to state too? Or, did you know that it is not just your driving record that influences your insurance rate but the type of car also impacts your insurance rate?
As injury attorneys we deal with insurance companies on a daily basis and we couldn’t help but wonder what are the cheapest vehicles to insure, and why? In doing our research we found the top 10 cheapest vehicles to insure as well as the cheapest states to live in for car insurance.
According to insure.com, the top 10 cheapest vehicles to insure nationwide are:
- Honda Odyssey LX
- Honda CRV- VLX
- Dodge Grand Caravan 2WD
- Jeep Patriot Sport 2 WD
- Jeep Wrangler Sport 4 WD
- Jeep Compass Sport 2Wd
- Ford Escape S 2WD
- Buick Encore Sport Tour 2WD
- Jeep Cherokee Sport Utility 2WD
- Nissan Frontier S King Cab Pickup
We found that Michigan has been the most expensive state to insure a vehicle for the past 6 years with an average insurance rate of $2,738.00 per year being paid to insure a vehicle. Tennessee ranks as the 35th most expensive state for car insurance with an average of $1,145.00 in annual premiums while Maine has the most cost effective insurance premiums with insurance at a measly $807.00 on average per year.
The difference in cost depends on many factors but mainly it is influenced by the following factors: competition between insurance companies – the more competition, the cheaper it will be, the number of uninsured drivers – the less uninsured drivers on the road, the less your premiums will cost, and the geographic make up of your state – more city driving equals more congestion, which usually means more accidents and higher rates.
We have been helping our clients in Middle Tennessee for over 30 years and our care goes beyond your case. If you are injured in an accident and need a personal injury attorney, please call us for your free consultation. Honest Advice, Its What We Do. Larry R. Williams, PLLC Attorneys At Law.