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Posts Tagged ‘car insurance costs’

Small Traffic Tickets Often Lead to Big Insurance Tabs

Minor violations can lead to sizable premium hikes, study shows.

by on Apr.13, 2016

Laura Adams, insuranceQuotes.com senior analyst, recommends taking driver safety courses to offset rate hikes from moving violations.

Everyone who owns a car, truck or minivan believes their insurance premiums are too high, but add some sort of moving violation to the mix and those costs can skyrocket … and not just for serious infractions.

New data from insuranceQuotes.com reveals DUI and reckless driving tickets will raise your annual premiums an average of 94% and 85%, respectively. Both are increases over 2015.

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Those type of jumps are stark, but not unexpected; however, a speeding violation of 15 mph or less will actually get your rate hiked by 21% on average, the site noted. (more…)

Michigan Most Expensive State for Car Insurance

Maine tips the other end of the scale.

by on Mar.07, 2016

Insurance coverage in Michigan is more than twice as expensive as the national average.

Not only is Michigan home to the Detroit Three automakers, it’s also state that sees drivers charged more for auto insurance than any other in the United States, according to a new study.

The average cost of car insurance in Michigan is $2,738 a year: more than double the national average of $1,325. It marked the third year in a row that the Wolverine state took top “honors,” and according Insure.com, which put together this year’s survey, it’s unlikely to change anytime soon.

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“The factors that cause Michigan to be the most expensive aren’t likely to change any time soon,” said Penny Gusner, insurance analyst for Insure.com. Michigan has been in the top five for the last six years. (more…)

Idaho Rates Best for Drivers; Louisiana the Worst

Want to drive on the cheap? Consider moving to someplace with wide-open spaces.

by on Aug.31, 2015

Tired of spending so much to keep your car running, gassed up and insured? If you’re looking to cut costs, you might consider moving to a place with wide-open spaces, according to a new study that ranks the best and worst states for drivers.

The new study also considers other factors like commute times, vehicle thefts and fatal crashes. All things considered, Idaho tops the chart according to research by financial website Bankrate.com, while Louisiana lands at the bottom of the list. With only a few exceptions, drivers will find life easier – and less expensive — in rural regions of the country, the study reveals.

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“Population density has a big effect on these rankings,” explained Chris Kahn, Bankrate.com’s research and statistics analyst.  “The best states for drivers have lots of wide-open spaces, whereas the worst states tend to be filled with people and cars – a bad combination for drivers’ wallets.”

The top five states in the study are, in order:

(more…)

Getting a Ticket Doesn’t Mean Higher Insurance Rates

Just 19 percent of violators saw premiums rise.

by on Apr.16, 2015

Depending upon the infraction, your auto insurance premiums may not rise.

Conventional wisdom is taking another beating as a new study indicates that getting a ticket actually doesn’t boost a driver’s insurance rates.

Only 19% of Americans who received a traffic ticket in the past five years are paying more for car insurance as a result, according to a report from insuranceQuotes.com released today. This is a decrease from 2013 when 31% of Americans who received a recent traffic ticket saw an increase in their car insurance premium.

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While fewer folks are seeing insurance rates rise, there are some violations that will cause a significant leap in what you pay. The website found that offenses such as driving under the influence of drugs or alcohol, reckless driving and leaving the scene of an accident almost always result in higher premiums – as much as 92% higher. (more…)