Maine Boasts Nation's Lowest Car Insurance Rates

Insure.com has released its annual list of average car insurance policy rates per state. According to the Web site, Maine residents have the lowest insurance rates, while those in Louisiana are forced to fork over the most dough.

The findings were calculated by averaging the annual policy rates for more than 2400 vehicles from six major carriers. Insure.com used ten ZIP codes per state, and based the rates on a 40-year-old, single male driver. Meant to represent the average Joe, the policies carried limits of 100/300/50 ($100,000 for injury liability for one person, $300,000 for all injuries, and $50,000 for property damage per accident), a $500 deductible on collision and comprehensive coverage, and uninsured motorist coverage. Joe commutes 12 miles to work, five days a week.

Like determining your credit score, figuring out the exact methodology behind car insurance rates is, at best, an inexact science. Driver records and vehicles insured are important factors, but Insure.com senior managing editor Amy Danise believes location may be the biggest determinant of all.

<;p class="MsoNoSpacing" target="_blank">“Consumers can finally get a clear picture of the hot spots for car insurance rates,” says Danise. “And our findings show that the financial ramifications of specific state laws and regulations are driving high rates in certain states. No matter how good your own driving record is, you're paying for the decisions of lawmakers.”

Louisiana insurance agents are quick to identify a major problem within the Pelican State, where only claims in excess of $50,000 are eligible for a jury trial. This means many cases are settled out of court but are resolved perilously close to the $50,000-limit. Unfortunately for Louisiana drivers, they must foot the insurers’ payouts and business costs. Perhaps even more telling is the difference in rate average between Louisiana and its next closest competitor (and Automobile home state) of Michigan: $412.58 per year.

Conversely, Maine has low commuter miles, free-flowing state highways, fewer lawsuits, and ample insurance provider competition, all helping to keep rates low.

<;p class="MsoNoSpacing" target="_blank">Average annual insurance rates (descending order)

  1. Louisiana -- $2510.87
  2. Michigan -- $2098.29
  3. Oklahoma -- $1869.39
  4. Montana -- $1857.96
  5. California -- $1774.41
  6. South Dakota -- $1772.83
  7. Washington, D.C. -- $1753.19
  8. Georgia -- $1751.42
  9. Illinois -- $1679.15
  10. Connecticut -- $1678.90
  11. Arkansas -- $1648.80
  12. New Mexico -- $1603.65
  13. Rhode Island -- $1595.97
  14. West Virginia -- $1589.69
  15. Alaska -- $1572.21
  16. Wyoming -- $1552.98
  17. Maryland -- $1550.13
  18. Kansas -- $1524.51
  19. Kentucky -- $1515.30
  20. Colorado -- $1480.97
  21. Mississippi -- $1474.94
  22. New Jersey -- $1473.73
  23. New York -- $1463.21
  24. Texas -- $1462.65
  25. Florida -- $1453.20
  26. National -- $1429.26
  27. Pennsylvania -- $1420.78
  28. Delaware -- $1405.80
  29. Missouri -- $1390.59
  30. Minnesota -- $1381.09
  31. Alabama -- $1380.38
  32. North Dakota -- $1365.22
  33. Hawaii -- $1306.97
  34. Indiana -- $1302.51
  35. Nevada -- $1282.50
  36. Washington -- $1279.84
  37. Utah -- $1234.30
  38. Virginia -- $1233.36
  39. Nebraska -- $1210.74
  40. Oregon -- $1194.69
  41. Idaho -- $1183.47
  42. South Carolina -- $1182.18
  43. Tennessee -- $1170.12
  44. Arizona -- $1152.50
  45. North Carolina -- $1130.45
  46. Massachusetts -- $1043.80
  47. Iowa -- $1039.04
  48. New Hampshire -- $1011.23
  49. Wisconsin -- $1010.93
  50. Ohio -- $999.86
  51. Vermont -- $968.58
  52. Maine -- $902.85
Last month, another Insure.com report found the cheapest new vehicle to insure in the nation is a Mazda Tribute I with the inline-four engine and front-wheel drive.

Think you pay too much for car insurance? Sound off in the comments below.

Source: Insure.com

New Car Research

Find vehicle reviews, photos & pricing

our instagram

get Automobile Magazine

Subscribe to the magazine and save up to 84% off the newsstand price

subscribe

new cars

Read Related Articles

TO TOP