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Posted by John Wells
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In 2005 a survey showed a glimmer of hope regarding the continuing rise of auto insurance rates. Forty-seven states were surveyed and data was gathered from almost nine million auto insurance quotes provided to automobile owners in 2004 and 2005. Thirty states reported a surprising decrease in their auto insurance premiums and the national average also dropped. This survey stated that the approximate amount an average household in this nation was paying was around $2,000 per year for their auto insurance in 2005. This actually showed a decrease from the past year’s premium by over one hundred dollars. In 2005 the least expensive states, according to this survey, was Iowa and Ohio, with Maine being the lowest at approximately $1,500 per year. The highest premiums were in New York and Washington DC, with Louisiana being the highest at over $3,000.
There are other factors that may have an impact on your insurance premium such as your gender, age, driving history, credit score, and where you live. Regarding gender, males usually have higher premium rates due to the fact that they are on the road more often and they have more aggressive driving habits. On the other hand, females tend to be more responsible while driving and do not speed as much as male drivers. The age factor has two ends to it: 1) if you are over 55, the auto insurance after lapse company sees you as being a safer more reliable driver due to the fact that you have more driving experience and at that age you have more to lose; 2) a teenager’s premiums are usually very high since they have no driving experience and a number of them drive more recklessly.
Where you live makes a difference because if you live in a high crime area your car is more likely to be stolen. Living in the city versus living in the country also makes a big difference because of the heavy traffic situation in large cities. Also, your credit rating and your driving history both have an impact on the cost of your Michigan no fault auto insurance policy. A person with bad credit is seen as not being responsible off the road and therefore probably not responsible on the road. Someone with a poor driving record obviously will have to pay a higher premium than someone with a clean one. All of these factors along with the state you live in have a bearing on the cost of your auto insurance premiums.
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