The average annual premium for full coverage car insurance can be really expensive in some States. On the contrary, there are places like Vermont, Ohio, and Maine where it is much cheaper.
Car insurance is mandatory if your vehicle is legally registered and you drive on public roads. In this case, you will need to get your State’s minimum liability coverage. Though it may be more convenient to get full coverage if you can afford it.
Which 3 States have the highest average car insurance premium for full coverage?
Here are the 3 U.S. States with the most expensive average annual premium for full coverage according to the latest Bankrate report:
- New York: $3,807
- Louisiana: $3,696
- Florida: $3,594
If you live in one of these States and you have a low income, you may not be able to afford this price. Then, it would be advisable to opt for the minimum coverage required in New York, Louisiana, or Florida.
What is the average car insurance annual cost of minimum coverage in these 3 States?
Those who cannot afford to pay for full coverage can check the minimum coverage. For example, it is about $1,632 in New York per year. So, this price is $2,175 lower than the full coverage.
Car insurance prices are also really high in Louisiana but the average annual cost of minimum coverage is quite good. It is just about $976. So more low income drivers will be able to afford it.
Florida has a higher average annual cost of minimum coverage. Therefore, if you have a car and you need the minimum coverage it could be about $1,111. Other States which have high prices are Nevada, Michigan, Colorado and California.
If you are planning to buy a new or second-hand car in this States, start saving money to pay for a good car insurance that suits your needs.
