insurance

10 most expensive states for auto insurance

CarInsuranceQuotes.com, a Bankrate-owned website, measured auto insurance's financial dent by dividing the median household cost of car insurance by the median household income in the 50 states and the District of Columbia. Median insurance rates were determined using a proprietary system developed by Quadrant Inc., and the income numbers came from the 2010 Census.

The cost of insuring your car can really bang up your budget, depending on where you live. CarInsuranceQuotes.com, a Bankrate company, measured the "financial dent" to your budget. Auto insurance premiums are literally all over the map because of different state laws. CarInsuranceQuotes.com says the most expensive state got to No. 1 partly because it alone guarantees unlimited personal injury protection. Read on to see it and the rest of the top 10.

Michigan

Median annual cost of auto insurance: $4,490
Median household income: $56,101
Household dent: 8.00 percent

Louisiana

Median annual cost of auto insurance: $2,912
Median household income: $52,456
Household dent: 5.55 percent

Kentucky

Median annual cost of auto insurance: $2,292
Median household income: $50,392
Household dent: 4.55 percent

West Virginia

Median annual cost of auto insurance: $2,074
Median household income: $48,927
Household dent: 4.24 percent

Mississippi

Median annual cost of auto insurance: $1,840
Median household income: $45,484
Household dent: 4.05 percent

Arkansas

Median annual cost of auto insurance: $1,722
Median household income: $47,049
Household dent: 3.66 percent

Delaware

Median annual cost of auto insurance: $2,456
Median household income: $68,746
Household dent: 3.57 percent

New York

Median annual cost of auto insurance: $2,334
Median household income: $65,897
Household dent: 3.54 percent

Nevada

Median annual cost of auto insurance: $2,070
Median household income: $60,192
Household dent: 3.44 percent

Florida

Median annual cost of auto insurance: $1,784
Median household income: $53,093
Household dent: 3.36 percent

 

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