New York City Auto Insurance Rates Not So Bad
Posted on February 4th, 2011
If you were to ask anyone in New York City if they pay a lot for auto insurance they most likely would tell you they do. It makes sense since it’s the largest city in the US with common congested traffic and risky cab drivers. But surprisingly, New York does not even show up on the top 20 states with high auto insurance rates. According to the article “The States With the Highest & Lowest Auto Insurance Rates” by James Zol on TheAutoInsurance.com, Louisiana takes the top spot as the state with the highest auto insurance rates.
Based on a study completed by Insure.com, Louisiana has the highest auto insurance rates primarily due to their law structure. According to MSN News, Louisiana allows for some of the highest out of court settlements in the US. Because of this auto insurance companies charge Louisiana residents more to make up for this potential expense.
Maine takes the number one spot for the state with the lowest auto insurance rates. This is mostly due to the low population which translates to less accidents and fewer lawsuits. Many Maine residents tend to resolve auto accident situations without even contacting the insurance companies. This translates to lower rates across the board in Maine. This is something other states may want to consider before filing frivolous claims. You may make some money in the short run, but in the long run everyone pays through higher auto insurance quotes.
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Tags: Auto Insurance, Insurance, New York City, York City
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