No driver wants to pay more for auto insurance than necessary. But everyday people may not have the level of control they desire over state, regional, and local rates.
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Insurance companies use a wealth of data to arrive at certain cost conclusions. But as a consumer, some factors can help secure cost-effective coverage.
That being said, these are four ways to understand the most expensive auto insurance rates for 2019.
Most Expensive Vehicles to Insure in 2019
The decision to purchase the automobile of your dreams sometimes has to be balanced against your ability to pay for it.
The monthly note is just one line item in your budget. If you live in a state with excessive car taxes, add that expense. And, of course, you will likely need coverage.
The most expensive automobile to insure in 2019 is reportedly the Nissan GT-R.
Although car enthusiasts may not have expected the most expensive car to have the “Nissan” moniker, it has hovered in the top 10.
Last year, the vehicle ranked eighth on some lists. These are reportedly the other top automobiles to insure in 2019.
- 2: Mercedes Maybach S650
- 3: Porsche Panamera
- 4: Mercedes AMG GT R
- 5: BMW M760i xDrive
If you are interested in paying among the lowest yearly premiums, the most inexpensive cars to insure include the Honda Odyssey LX, Jeep Wrangler Sport, Subaru Outback 2.5i, Mazda CX-3 Sport and Honda HR-V LX among others.
Most Expensive Cities To Purchase Auto Insurance in 2019
Automobiles and insurance coverage have become quite complex since inventor John William Lambert crashed his “horseless carriage” into a hitching post in 1891.
It may seem hard to believe, but we live in the third century of car accidents. Auto insurance carriers have honed down on the critical factors that increase claim risks to arrive at regional rates.
The critical factors often include population density, weather that impacts driving, crime statistics, and infrastructure, among others.
After analyzing available data, carriers determine how the information should impact state, regional, and localized rates.
These are the cities some insurance companies generally see as high risk and set premiums accordingly.
- 1: Detroit
- 2: New Orleans
- 3: Hialeah, Florida
- 4: Miami
- 5: New York City
It’s important to keep in mind that not all insurance companies agree on which cities present the highest risk.
By gathering competitive quotes, drivers may enjoy unexpected savings. Of course, there are also steps individual drivers can take to secure the best possible rate.
Most Expensive States To Purchase Auto Insurance in 2019
When insurance premiums are generated, numerous factors affect the rates of states as well.
In a small state such as little Rhode Island, reasonably consistent prices when all things are equal seem commonsensical.
But some companies can oversimplify the risks in big states such as Texas or Alaska. These states rank among the most expensive to purchase full coverage.
- 1: Michigan
- 2: Louisiana
- 3: New York
- 4: Delaware
- 5: Nevada
Another interesting way of looking at the cost of auto insurance is to identify the most significant cost difference between full covers and meeting a state’s mandatory minimum requirements.
These states reportedly rank among those with the highest cost difference between the two coverage options.
- 1: Louisiana
- 2: Michigan
- 3: Nevada
- 4: Colorado
- 5: Florida
This trend may influence drivers’ decision about whether to secure the full coverage that supports safe driving.
Opting for mandatory minimums can leave drivers and passengers in difficult straits in the event of a collision.
Most Expensive States To Purchase Auto Insurance with Bad Credit
We live in a culture where credit has emerged as a significant factor in many aspects of our lives.
From purchasing a home or getting a car loan, your credit score and history can have a powerful impact on your ability to borrow and interest rates.
Auto insurance companies have not overlooked credit histories.
An overwhelming majority of auto policy application reviews involve pulling credit scores.
Like lending institutions that use credit scores as a way to set interest rates, insurance carriers often align premiums with credit scores to some degree.
That being said, these are states that rank among the most expensive to purchase auto insurance with a poor credit score.
- 1: Michigan
- 2: Louisiana
- 3: New York
- 4: Delaware
- 5: Nevada
And although Massachusetts is considered to be a relatively expensive place to live, the New England state reportedly ranks among the least costly to purchase car insurance with bad credit.
A wealth of underlying factors drives the most expensive auto insurance rates for 2019.
Although drivers have little control over state and local considerations, the type of car you purchase, driving record, credit score, and willingness to shop around are ways you can earn the best possible rate.
SEE ALSO: A Quick Guide To Handling Another Driver’s Auto Insurance
