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How Do Car Insurance Rates Differ?

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Insurance rates are variable and depend on certain criteria and risk factors: car model, state, age. It’s impossible to name the exact insurance price because aforementioned factors influence the price substantially.

What are Car Insurance Rates by State?

Coverage rates differ from state to state and depend on state laws, local court systems, traffic, crime, and crash rates. The percentage of uninsured drivers in the state and the number of auto insurance companies (namely, competition) also play a substantial role.

According to the latest information, you can find the most expensive auto coverage in 2017 in Michigan ($2,394 premium), Louisiana ($1,921 premium), Connecticut ($1,897 premium). The cheapest insurance is in Ohio ($919 premium) and Maine    ($864).

What are Average Car Insurance Rates by Age?

Age also affects the insurance rates. The most expensive coverage is for young drivers under 18 years – $6,777 on average. The plan for drivers between 25 and 55 is the most affordable and costs, on average, $2,000. The older a person is, the higher is the price of the plan. Drivers older than 85 years will have to pay $2,500.

What are Insurance Rates by Car Model?

The model of your car also plays role in the calculation of the insurance rate. The least expensive car in this sense in 2017 is the Honda Odyssey LX, the Jeep Renegade Sport, the Jeep Wrangler Black Bear, the Honda CR-V LX, the Nissan Frontier. Annual average premium is less than $1,300.

The most expensive cars with an average annual premium of more than $3,000 are the Mercedes S65 AMG, the Dodge GTS Viper, the Maserati Quattroporte GTS, the Nissan GT-R Nismo, the Audi R8 5.2L V10 Quattro, the BMW M6 Gran Coupe.