(Bloomberg) -- Lawrence Williamson moved three years ago from Macon, Georgia, to Detroit and paid $17,000 for a 4,500- square-foot historic-district limestone house at a tax sale. Then he suffered sticker shock.

His car insurance premium tripled.

Williamson said he now pays $4,560 a year to insure a 2012 Hyundai and a 2003 Subaru, with a $1,000 collision deductible. It’s a burden faced across the Motor City: Detroit has the highest auto-insurance premiums in the U.S., according to an analysis by CarInsurance.com.

“I thought, ‘This is ridiculous.’ I didn’t factor it in,” said Williamson, 52, who works for a nonprofit that promotes Detroit development. He said he and his wife, 45, have clean driving records. “Insurance is just something you have to pay.”

Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader

  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.