Detroit has the most expensive auto insurance in the US by far
Detroit is known across the globe as the capital of the automotive industry in the United States, but what people may not know, and what the Motor City probably doesn’t want you to know, is that Detroit also has the most expensive auto insurance in the nation as well, by far.
According to insuranceQuotes.com, a subsidiary of finance-info provider Bankrate Insurance, drivers in Detroit and the surrounding metropolitan area on average pay 165% more than the national average for auto insurance.
“One of the main reasons why car insurance is so expensive in the Detroit area is because Michigan is the only state where car insurance includes unlimited personal injury protection,” said Laura Adams, senior analyst for insuranceQuotes.com, in a statement. “Also, Detroit has a very high percentage of uninsured motorists, as high as 50% by some estimates. That unfortunately raises rates for those who do have car insurance.”
New York City is a distant second, with drivers paying 36% more than the national average, and Miami is third, with drivers paying 34% more. Charlotte, Cleveland, and Pittsburg boast the least expensive auto insurance in the nation, with drivers in those cities paying 44%, 31%, and 24% less than the national average respectively.
“Insurance companies who are doing business in North Carolina really have to jump through a lot of hoops to raise rates,” Adams said. “And so what happens is, we’re seeing the rates in North Carolina, you know, seem to be suppressed.”
Read more about the story at Autoblog.