Top selling used cars data shows that insurance average is inversely proportional to median price in Washington

The average insurance premium of used cars in the state of Washington is $1226 per annum. The data analysis below will compare insurance average and median prices of different car models in two cities of Washington- Seattle and Spokane, the largest and second largest city of the state, respectively.

Please note that the used car models belong to the year range of 2005 to 2012.

It can be noted here that Seattle’s average insurance premium ($ 1256) is higher than Washington’s average insurance premium. Spokane’s average insurance premium is $ 1014 per annum.

In Seattle, the Nissan Altima, a mid-size car, has the highest insurance average ($ 1285) of all the eight car models but also has the lowest median price ($ 12995) overall. In Spokane the same car model has an insurance average of $ 1037 and has a median price of $ 16997.

Comparing the three models by the car manufacturer, Honda – the Accord, the Civic and the CR-V, the Honda Civic has the highest insurance average ($ 1234) which is also the second highest insurance average overall in Seattle. The lowest insurance average is for the Honda CR-V in Spokane ($ 836). The insurance percentage for the Honda Accord in both the cities was the same (6%).

Three models by Honda are compared in the table below.

City Model Insurance average ($) Median price ($) Insurance percentage
Seattle Honda Accord 1,166 17,995 6%
Spokane Honda Accord 942 14,498 6%
Seattle Honda Civic 1,234 14,750 8%
Spokane Honda Civic 996 15,991 6%
Seattle Honda CR-V 1,035 20,992 4%
Spokane Honda CR-V 836 23,888 3%

In Seattle, the Ford F-Series has the highest median price of all the eight car models surveyed ($ 31995). The same car model in Spokane has a median price of $ 28523, which the second highest median price overall.

The third highest median price is that of the Chevrolet Silverado ($ 27988) in Seattle. The same model’s median price in Spokane has a whopping difference of $ 10990 ($ 16998). The insurance average for Silverado is $ 1173 and $ 947 in Seattle and Spokane respectively.

Two models by Toyota- Camry and Corolla have the same median price ($ 15995) in Seattle and the insurance average doesn’t have much difference. In Spokane, the difference in insurance average is negligible but there is a huge difference of $ 4590 in the median prices of these two car models.

City Model Insurance average ($) Median price ($) Insurance percentage
Seattle Toyota Camry 1,156 15,995 7%
Spokane Toyota Camry 933 19,988 4%
Seattle Toyota Corolla 1,150 15,995 7%
Spokane Toyota Corolla 928 15,398 6%