Annual auto insurance premiums in the U.S. 2020, by state

Michigan had the most expensive car insurance premiums at 5,282 U.S. dollars for minimum coverage in 2020. Florida, and Rhode Island also had high premiums whereas more rural states such as South Dakota, and Iowa had the lowest rates.

Why it varies state by state

The huge variance in premiums between states is due to the difference in state laws, the percentage of uninsured drivers in the state, the frequency of natural disasters and claim rates. For instance, Michigan has a no-fault car insurance system, which means that claims are more common. This drives up the cost of insurance for all drivers, because insurers need to pay out more money in claims.

Male drivers also pay more

There is also a huge difference between premiums among different age groups. In 2020, 18-year old male drivers paid roughly 700 U.S. dollars more per month than 18-year old female drivers did. This is due to the higher incidence of accidents in amongst young male drivers. This means that young drivers in states which already have higher premiums must pay a lot for car insurance.

Estimated annual car insurance premiums in the United States in 2020, by state

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Source

Release date

May 2020

Region

United States

Survey time period

2020

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Statistics on "Car insurance in the United States"

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