This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Car insurance rates by state, 2015 edition

In addition Montana does not offer a large market for national companies, and the population is spread over a wide area, which may increase the cost of doing business.

Meanwhile, the Legislature has been slow to pass certain driver safety laws. State bills prohibiting texting while driving have failed. The state has a secondary, versus primary, seat belt law, meaning officers can't cite drivers for failing to wear seat belts unless they stop them for other offenses.

"From a professional insurance standpoint, we look at that and scratch our heads sometimes," Biskupiak says.

Montana has the highest car accident fatality rate in the country, according to the Insurance Institute for Highway Safety. In 2013, there were 22.6 deaths per 100,000 people, more than double the national average, and 1.96 deaths per 100 million vehicle miles traveled. The national average was 1.11 deaths per 100 million vehicle miles.

No. 3: Washington, D.C.

In most states insurance rates are highest in urban areas and lowest in small towns. The District of Columbia is one large, traffic-congested city, so rates are bound to be on the upper end.

"I've been here all my life, and the traffic has gotten so much worse in the last 20 years," says insurance agent Scott Hoffman of Howard and Hoffman Inc. and a board member of the Metropolitan Washington Association of Independent Insurance Agents.

Allstate ranked the nation's capital 198th out of 200 cities for safe driving in its 2014 Best Drivers report. The average driver in the district will experience a car accident every 5.1 years, compared with the national average of every 10 years, according to Allstate.

Hoffman says Washington is litigious, and juries tend to favor plaintiffs who sue insurance companies.

Another problem is that compared to states with a number of cities, the district is a small market.

4 of 6

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,080.14 +21.45 0.12%
S&P 500 2,117.69 +4.76 0.23%
NASDAQ 5,092.0850 +36.0220 0.71%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs