Owning a car means accepting the insurance bills to be a part
of your budget. Insurance is a way to ensure the safe repair of your car if any
mishap occurs. Car insurance is very common and useful, and this is the reason many
people include it in their payment plan.
Depending on your region in the United States, the car
insurance price may vary from state to state. This makes a big difference in
the car purchases in different states as well. To buy a car, the most expensive
state of the U.S. is Michigan, where minimum coverage is for $5,282, and full
coverage is for $8,723. While, on the absolute opposite end is the cheapest
state in terms of car insurance rates i.e., Maine, where you can get the
minimum coverage for as low as $489 and full coverage for $1,268. The average
cost for full coverage within the U.S. lies below $2,400; however, the monthly
plan's average cost is approximately $200/month.
Let's shed some light at the cost difference between the minimum
and full coverage state-wise. Note that the average annual difference in cost
is $1,453. The states with a considerable difference are found in Michigan
($3,441), Rhode Island ($2,258), followed by Louisiana ($2,196). Whereas, the
state with the cheapest car insurance policies with a meager difference is
Maine, where drivers can conveniently save a significant amount of $779
annually of their car's insurance.
For a detailed look at car insurance rates in the new decade,
check out the infographic below.
Infographic by: Howmuch.net
