Have you ever wondered how Arizona compares to the rest of the nation when it comes to auto insurance rates?
I’m often asked where Arizona compares to the rest of the nation when it comes to affordability of car insurance rates. The answer is almost always right in the middle. Arizona is usually number 22 to 25 when it comes to the most expensive state to insure a vehicle, so we don’t have too much to complain about. Many people often asks what factors determine a car insurance rate in Arizona. It’s extremely hard to tell specifically because there are 100’s of price points when it comes to the make up of your car insurance rate. You may drive the same car and be the same age as your neighbor in Mesa, but your rates could be completely different. Things such as being married, how many miles you drive, your credit score and many more things determine the rate you pay for car insurance. Arizona has many uninsured drivers, this could possibly be a reason that we are in the middle of the pack and not on the lower end of the rate spectrum, compared to the rest of the nation.
Who’s the cheapest state?
Maine is the cheapest state by far when it comes to insuring your vehicle. Again, many factors go into determining car insurance rates, but one of the reasons Maine is so cheap is because of the rural-ness of the state. The less drivers there are to hit you the less claims are filed; and the less claims filed means the cheaper your insurance is.
Who’s the most expensive state for auto insurance?
Michigan not only has horrible football teams, but they also get stuck with the highest insurance premiums almost every year. It’s cold, it’s snowy, you have horrible sports teams and then on top of that you have extremely high car insurance rates! So do yourself a favor and stay out of Michigan! A possible reason that their rates are so high could be because they are a “no-fault” state when it comes to insurance. This means that your insurance company pays for damage to your car in a covered accident, regardless if you were at fault or not. Another reason could be because of all those cars sliding off the road when it’s 0 degrees outside!
Changes coming to Arizona that may effect car insurance rates.
Next year, July of 2020, Arizona is increasing the minimum requirements for liability limits in Arizona. Currently, the minimum limits required by the state of Arizona are 15,000/30,000. In July of 2020 they will be raised to $25,000/50,000. For more information on this change, click here. I am not sure, but I’m thinking that this is going to raise car insurance rates a little bit in the state of Arizona. On the plus side however, all those drivers out there on the road are going to have better coverage. So it’s a give or take. As I always say, the best way to make sure that you have the cheapest car insurance and the best car insurance for your specific need, use a broker. They can tailor a policy specifically for you and make sure that you have the best rates out there. Moral of the story, don’t complain too much. We’re not paying too much, we’re not paying too little.