Car insurance rates higher than ever for U.S. drivers
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In fact, rates across the U.S. are higher than they've ever been, up 23% since 2011 with an average annual cost of $1,470.
Most expensive states:
Michigan: $2,693
Louisiana: $2,339
Rhode Island: $2,110
Michigan: $2,693
Louisiana: $2,339
Rhode Island: $2,110
Most expensive cities:
Detroit, MI: $5,464
New Orleans, LA: $3,686
Hialeah, FL: $2,997
Detroit, MI: $5,464
New Orleans, LA: $3,686
Hialeah, FL: $2,997
Distracted drivers are starting to pay the price for their dangerous behaviors with an average insurance rate penalty of 20%.
Although new technology is making cars safer, it's also making them more expensive to repair or replace, so drivers likely won't see any car insurance savings for these new car features.
Car insurance companies are already leveraging insights from consumers' online behavior for marketing and other purposes, and there is potential this data could inform how they price rates in the future. ■