Auto Insurance Agents, Quotes and Research

Write a Review

Latest Research & Perspectives

California keeps auto insurance costs down by putting in place exemplary insurance regulation

The Consumer Federation of America published a study in November 2013 that showed that the average annual expenditure on auto insurance across the country went up by 43.3 percent between 1989 and 2010. In the same 21-year span, auto insurance expenditure in the state of California went down by 0.3%. California is unique in this regard as no other state in the entire country has been able to keep insurance rates from rising, let alone reducing them.

As per the study, the primary reason for California’s success is strong regulation that has been put in place to keep insurance costs in check. For instance, California has put in place a Prior Approval system which compels insurers to file rate changes and have them approved by the state before they can be implemented in the marketplace.

One of the features of the insurance regulation in California is the ...

Continue reading

Collision coverage for a Volkswagen GTI will set you back $472

The Highway Loss Data Institute is a non-profit organization that gathers and publishes data on insurance. It released a study in September 2013 that assessed the damage susceptibility of vehicles of all classes and sizes. They did so allocating relative scores to all types of vehicles in parameters such as relative claim frequency (how often claims are filed), relative claim severity and relative claim loss (average payment made by the insurer per claim). The study is an important one because insurers look at relative claim frequency and relative claim loss in assessing premium rates for collision coverage.

In the study, a score of 100 represents the average and scores under 100 are considered to be better than average and scores over 100, worse. It was found that 2-door small cars received a relative claim frequency score of 122 and a relative claim loss of 132. Their relative claim severity score ...

Continue reading

Here’s why Lansing is one of the best cities to buy a used Ford F-150 Series

The Ford – 150 is one of America’s favorite pickup trucks and has been the best-selling vehicle in the United States for 17 years and the best-selling pickup for 37 years. It comes with a variety of engine and transmission options, and along with its famed towing capabilities and above-average safety score, it is a popular car in the used car market.

Let us take Michigan as an example to compare the average cost of insurance for a used Ford F – 150. Going by the data in the below table, Detroit has not only the highest median price but also the highest insurance percentage at $27,295 and 14 % respectively, which makes the average annual cost $4,080 or about $340 a month, to insure a used Ford F-150 series.

City Make Model Year Range Insurance Average ($) Median Price ($) Insurance %
Grand Rapids Ford F-Series 2005 - 2012 1,556 25,995 ...

Continue reading

Very Large SUVs have better than average damage susceptibility scores

SUVs has a lower than average damage susceptibility when compared to cars of all sizes and classes. Owing to their size and build, they tend to fare relatively better when involved in a crash with smaller cars. They tend to sustain less damage in minor accidents which enhances their damage susceptibility scores. And good scores mean lower collision coverage premiums.

Very large SUVs are a sub-category of SUV (others categories include small, medium and large SUVs). The Highway Loss Data Institute released a study in September 2013 that compared losses by vehicle class and size groups for 2010-2012 models of cars. They found that the two main factors that determined collision average rates were claim frequency (how often claims are filed) and losses per claim (average payment per claim).

The latter is determined by the extent of damage. For both measures, a score of 100 represents the average. Any score ...

Continue reading

Honda Insight: States with high prices, percentages, and premiums

The median price of a used Honda Insight ranges from $11,990 in Iowa to $999999 in Tennessee. The high median price in Tennessee, however, is the exception. The Insight is available for a median price below $18,000 in all the other states. Insuring the Insight is also very reasonable in most of the states. Except for the eight states (Georgia, Connecticut, New Jersey, Alabama, California, Massachusetts, Oklahoma, and Michigan) where the average annual insurance rate of the Insight is higher than $1400, it is extremely affordable to insure this compact Honda.

In Georgia and Connecticut, the average annual insurance rates are $1482 and $1487, respectively. These are still lower than the rates in the other six states listed above.

In New Jersey and Alabama, the average annual insurance rates are $1535 and $1555, respectively. The median price of the Honda Insight in these states is not very high ...

Continue reading

Which used cars have lower insurance rates in Michigan?

Buying a used car in Michigan could be overwhelming, considering the high percentage of insurance costs. The average annual insurance rate in Michigan is $2,520, which is significantly above the national average.  The average annual insurance rate of Grand Rapids is $1,754, while in Lansing it is $1,784.

So, which used car can you buy in Michigan to spend less on purchase and insurance costs?

City Make Model Insurance Average ($) Median Price ($) Insurance Percentage (%)
Lansing Honda Civic 1,788 5,000 35
Ann Arbor Honda Accord 1,517 7,995 18
Lansing Honda Accord 1,686 8,979 18
Ann Arbor Toyota Corolla 1,606 9,995 16
Ann Arbor Honda Civic 1,608 13,995 11
Grand Rapids Honda Civic 1,758 14,300 12
Grand Rapids Toyota Camry 1,966 14,400 13
Grand Rapids Toyota Corolla 1,755 14,500 12
Grand Rapids Nissan ...

Continue reading