The Best States To Save On Car Insurance
Ohio drivers who shop around for car insurance are likely to save a bigger chunk of their annual bills than motorists anywhere else in the U.S.
A ZIP-code-by-ZIP-code analysis of Ohio rates from six national insurance carriers showed an average rate for full coverage of $969 a year. But the cheapest rate averaged just $424 a year -- a savings of 56 percent on identical coverage.
Nationally, the average potential savings was $407, or 32 percent.
Rates from the six companies were the most similar in New Jersey, where a driver who bought the cheapest policy would save $112.Even within the same state, differences in location can bring huge changes in savings. A Valparaiso, Neb., driver could save 51 percent off the average price for that ZIP code by shopping around and choosing the cheapest rate. But just 55 miles away in Omaha, the potential savings are 23 percent.
“Rural areas are almost always cheaper than cities,” says CarInsurance.com consumer analyst Penny Gusner. “But every insurance company will put a different number on how risky a ZIP code is. Sometimes the differences are shocking -- thousands of dollars.” Here are the top 10 states for potential savings:
|State||Average rate||Cheapest rate||Savings||Change|
|7. New Hampshire||$1,172||$693||$479||41%|
|9. South Dakota||$1,062||$636||$427||40%|
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV