The most expensive car insurance rates in the nation are in Michigan. Connecticut ranks 17th. It is the third consecutive year that Michigan has topped the list. Connecticut’s average of $1,367 is 3 percent above the national average of $1,325. The average rate in Connecticut jumped by 24 percent from 2015 to 2016, according to the survey. The Connecticut data was compiled in February. Among the New England states, Rhode Island was ranked tenth, averaging $1,608, Massachusetts ranked 21st at $1,325. Maine had the lowest rates, at $808 annually.
Insure.com’s 2016 state-by-state comparison of auto insurance premiums found that Montana captured the No. 2 spot for the second year in a row. New Jersey broke into the top five for the first time ever, Louisiana was No. 4, and Oklahoma rounded out the top five.
On the flipside of the cost coin, Maine led the way for the cheapest car insurance in the country. Maine has been in the top three for the least expensive car insurance for all six years of the study, according to insure.com. This year, Ohio came in No. 2, Wisconsin was three, Idaho took fourth, and New Hampshire earned No. 5.
The annual study compiles rates from six large insurance carriers in 10 ZIP codes in every state. Rates were for the same full-coverage policy for the same driver -- a 40-year-old man with a clean driving record and good credit. The rates are an average for the 20 best-selling vehicles in the U.S. in order to present more accurate rates for the average driver – without high-end sports or luxury cars skewing the data. Each model was rated on its cheapest-to-insure trim level.
The national average for a full-coverage policy as featured in the Insure.com report came in at $1,325 this year – a slight increase from last year’s average of $1,311. Rates varied from a low of $808 a year in Maine to a budget-busting $2,738 in Michigan. Insurance rates in Michigan are more than double (107 percent) the national average.
Insurance rates are influenced by a number of different factors. Everything from traffic, crime rates, state and local laws, the percentage of uninsured drivers, as well as the number of insurance companies competing in a market can all result in higher or lower insurance premiums in your state.
Insure.com commissioned Quadrant Information Services to calculate auto insurance rates from six large carriers (Allstate, Farmers, GEICO, Nationwide, Progressive and State Farm) in 10 ZIP codes per state. Insure.com averaged rates in each state for the cheapest-to-insure 2016 model-year versions of America’s 20 best-selling vehicles and ranked each state by that average. Rates are for comparative purposes only within the same model year.