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Highest and lowest auto insurance costs in Arkansas

At $1545, Arkansas’ average insurance rates are above national average by $49. Arkansas is the 18th most expensive state to buy auto insurance in the United States. Fayetteville is one of the more affordable cities to buy auto insurance, and has an annual average insurance rate of $1086. Little Rock is slightly more expensive, at $1332.

Most cars have lower insurance rates in Fayetteville. The car with the lowest insurance cost in Arkansas is the Chevrolet Silverado, which costs only an average of $960 per year to insure in Fayetteville. In Little Rock, it costs $1177 per year to insure the Silverado. The difference in the median prices in the two cities is not very high. In Fayetteville, you can buy a used Chevrolet Silverado for a median price of $29,259 and in Little Rock you can buy it for a median price of $27,995. If we ...

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Nissan Titan vs. Ford F-Series: Which full-size pickup costs less to insure in the United States?

The Ford F-Series is one of the most popular series of full-size pickups, having sustained its popularity for over six decades. The Nissan Titan was introduced in 2004 in the North American market, and has been nominated for several awards since then. In this feature, we will compare the cost of insuring both these pickups in the United States.

As of January 2014, the national average insurance rate for the Nissan Titan is $1414, while that of the Ford F-Series is $1324. The cheapest state to insure the Nissan Titan is Maine, with an annual average insurance rate of $951. Maine is also the cheapest state to insure the Ford F-Series, with a considerably lower insurance rate, at $848. There is also a huge difference in the purchase costs of two pickups in Maine. While a used Nissan Titan is available for a median price of $19,900, the Ford ...

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50.5% rise in auto insurance expenditure in Minnesota between 1989 and 2010

In 2010, the average auto insurance expenditure in Minnesota stood at $693.08 and was almost a $100 cheaper than the countrywide average of $791.22. Minnesota’s 2010 average figure represented a rise of 50.5 percent over its 1989 average ($460.41). In the same period, the countrywide average went up by 43.3 percent. Despite the faster rise in costs, auto insurance expenditure in Minnesota was still cheaper than the countrywide average as of 2010. Furthermore, Minnesota went from being the 26th most expensive state in terms of auto insurance to the 32 most expensive.

The figures above were obtained from the November 2013 study released by the Consumer Federation of America. This study found that when taken in comparison with states such as California and Hawaii, Minnesota’s performance does not measure up quite so well. In the same 21 year period, auto insurance costs ...

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2 door mini the cheapest car in the category to buy collision coverage

Collision coverage is usually not a mandatory form of auto insurance. However, it is advisable to cover your vehicle to minimize costs in case you are involved in an accident that causes physical damage to your vehicle. Insurers look at various factors when calculating your premium for collision coverage. One of the main factors, apart from your age and driving record, is the type of car you drive.

There are a couple of factors that determine collision coverage premiums. Firstly, relative claim frequency (how often claims are filed on a particular type of car) is taken into account while determining premiums. The second factor is relative claim losses (average loss to the insurer per claim on that type of car). The Highway Loss Data Institute released a study in September 2013 that assessed these and other factors that influence collision coverage premiums. They allocated relative scores to all vehicle classes ...

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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 ...

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Collision coverage for 4-door cars costs more than average compared to other cars

Collision coverage and comprehensive coverage are two types of auto insurance that cover physical damage to your vehicle. They are normally purchased in addition to mandatory insurance which usually cover only liability or uninsured motorists depending on the state.

Insurance companies pay close attention to two factors when determining your premium rates for collision coverage: claim frequency and their loss per claim. A low claim frequency means a lower premium rate and the same applies to loss per claim. If you own are 4-door car, or are planning to buy one, here are a few things to keep in mind while purchasing collision coverage for your vehicle.

Only very large 4-door cars have a relative claim frequency of less than the average 100 (where 100 represents the relative claim frequency for cars of all sizes and models). In other words, all 4-door cars, except very large ones, file more claims ...

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