Maine ranks among the lowest states for auto insurance, with a median annual cost of $1,160, according to a data released Monday by Bankrate’s CarInsuranceQuotes.com.
The average Maine household pays just under 2 percent of its annual income for car insurance, according to the study, ranking Maine 42nd among all states and the District of Columbia. Michigan, at 8 percent of annual median household income, pays the most for car insurance. Louisiana (5.55 percent) is next, followed by Kentucky (4.54 percent) and West Virginia (4.24 percent).
Some of the lowest percentages of annual income devoted to car insurance were in New England, with Massachusetts (1.434) the lowest at No. 51, New Hampshire (1.988) at No. 45 and Maine (1.993).
The Bankrate report said many factors affect rates from state to state, and quoted Bob Passmore, senior director of personal lines at the Property Casualty Insurers Association of America as saying, “variables include the costs of car repair and medical care, the amount of insurance fraud taking place, the number of uninsured drivers on the roads and the number of people living in densely populated areas.”
“When you get more drivers together, they’re going to run into each other more,” Passmore says.
Last month, another study, by CarMD.com, found that Maine has the second-lowest car repair costs in the nation, when it comes to vehicle problems associated with the “check engine” light, with a cost that was 13 percent below the national average.
then why does mine keep climbing? I’m 26 and I started out with a Jeep Wrangler and a Pontiac G5 in 2009 for a total of $500. I sold my car and it dropped to $212 in August 2011. It went up to $252 last time in Feb 2012 and now $267 for 6 months coverage next month…
I have only had one accident in 2003, and a DUI in 2007…but it still goes up??
How’s your credit score? If you have had credit issues your rates will go up. It may also be time to get some different quotes. I had Progressive for a while and it was just over double compared to the company that I have now.
I’ve had progressive since I started driving…I quoted with all state and geico – geico wanted double, all state was $30 cheaper so I’m sticking with progressive for now.
My credit isn’t the greatest – I’ve never owned a credit card and only paid two cars off – I bought my last one in full
No tickets, no accidents, no claims and my car insurance is higher than when I lived in Flori-duh. Go figure.
Too bad registration fees make up the difference and then some.
Its because we are not fooled by your check engine light crapola.
“Some of the lowest percentages of annual income devoted to car insurance were in New England, with Massachusetts (1.434) the lowest”
Un-be-leev-a-ble! Someone explain this – I’ve driven there and they seem to run into each other for entertainment.