Huntsville, Montgomery, and Birmingham, three popular cities of the state of Alabama continue to follow the ‘low average insurance, high median price’ trend. The insurance averages of the top-selling used cars in the state of Alabama show a clear inverse proportion between the average yearly insurance and median price of the car.
We studied the numbers of 8 best selling used cars in Huntsville, Montgomery and Birmingham, and found that the cars which were priced reasonably had higher than average insurance rates. On the other hand, cars which were exorbitant were cheaper to insure. The average yearly insurance, median price, and a comparison of these two values (known as the insurance percentage) of Toyota’s Corolla and Camry, Nissan’s Altima, Honda’s CR-V, Civic and, Accord, Ford’s F-Series, and Chevrolet’s Silverado were examined.
The insurance average of these cars in Huntsville is the lowest ($1,265), followed by Montgomery ($1,442) and Birmingham ($1,518). The insurance average of the state of Alabama is $1,667. Though this is higher than the average insurance in the individual cities, Alabama is among the states whose average insurance is on the lower side.
Check out the table below.
|City||Make||Model||Insurance Average ($)||Median Price ($)||Insurance Percentage (%)|
The median price of the Honda Civic is $11,966 in Montgomery, and with an insurance average of $1,409, this is the car with the highest insurance percentage. However, this is also the car with the lowest median price.
The car that costs the most in Alabama is the Ford F-Series, with a median price of $33,696. However, the insurance for this car is a mere 3% of its cost. This pattern of high median price and low insurance percentage can be seen in the cost and insurance of the Ford F-Series in Huntsville, Montgomery as well as Birmingham.