Compare the Market for Car Insurance

Compare the market for car insurance to get a more comprehensive understanding of where your rates are coming from. The trends will be directly reflected onto your own policy. If, for example, the rates are down in your state, then you can expect your premium to also decrease. One way to be sure that you are making the most out of the market trends is to compare the market for automobile insurance as often as possible. That way, when the market takes a dip you can take advantage of this and save.

Compare the Market by State

Every single state is different when it comes to car insurance prices. When you compare the market for car insurance you may be surprised at what you find. Compare, for example, Idaho with New York and you will notice a huge difference in the car insurance premiums. Some of the more expensive states when you compare the market for car insurance include the District of Columbia, Delaware, New Jersey, New York and Rhode Island. Although it may seem like providers are targeting residents in the eastern states, this is actually not the case. There are a number of reasons why these states have higher averages than some of the others, which will be assessed and explained below.

Some of the cheapest states when you compare the market for car insurance include Idaho, Iowa, Alabama, Arkansas, California, Colorado, Hawaii, Maine and New Hampshire. The national average is around $1600 per year which is similar to states such as Florida, Kansas, Kentucky, Nevada, New Mexico, Texas and South Carolina.
So why are some states so expensive in terms of car insurance and some states more reasonable? There are a number of reasons for this. First of all, compare the car accidents statistics and incidents of claims in each state. The more claims and vehicle accidents on the roads, the higher the market premiums will be.

Another thing you need to compare when you compare the market for auto insurance is the theft and crime rate in your area. The higher the crime rate and incidence of theft, the higher the average premiums will be. New York and New Jersey both have a fairly high crime rate which is reflected on the vehicle insurance rates.
Furthermore, consider the weather conditions. If there are several incidents of storm damage to cars or if there are several instances of car accidents due to poor weather conditions, then the rates will also be higher. This is one of the reasons why eastern cities that experience a lot of storms, rain and snow, will see higher rates than some of the more temperate climate state.

Compare Additional Coverage Factors

In addition to the average coverage rates, there are several other factors that will make up your policy premium including your individual risk assessment. This includes things like your age, your gender and your marital status as well as how often you drive and your credit report. A young driver, for example, can expect higher rates, on average, than an experienced driver. Compare additional third party insurance options by market as well.

In addition to the above factors, another big thing that will impact your car insurance rates when you compare prices is the type of car you drive. Smaller cars, such as coupes, sedans and convertibles all experience higher rates than larger vehicles such as minivans, SUV's, wagons and trucks. This is because smaller cars tend to crumble under the pressure of an accident. When you compare the market for car insurance, consider the safety rating on your car. The higher the rating, the better your rates will be.

Finally, another thing that will greatly impact your price quotes when you compare the market for vehicle insurance is your driver history. The better your record is, the better your rates will be. Be sure to pay off any outstanding tickets and parking fines and pay your premium on time to avoid any red marks on your record. If you have a few speeding tickets, DUI convictions and other fines, it is never too late to work towards a better record by remaining as safe as possible on and off the roads.

Find the Best Quote Today!

Market trends show that car insurance rates are down in almost all states from last year. What this means is that if you are not comparing the market often and instead remaining on the same premium year after year, you are already paying too much. A simple five minute search can put an end to your sky high rates. Simply fill in your details, browse through the offers and select a policy that is both comprehensive and affordable. Compare the market for car insurance today to experience a more affordable price all year round.

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