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Many U.S. drivers are reexamining their auto coverage as they look for ways to cut costs in the midst of inflation and climate-driven price hikes. For some, this stems from the fact that as much as a tenth of their income may be going toward various insurance coverages, depending on the state in which they reside. A recent study from Assurance looked at the data to see exactly how much the cost of coverage in each state stacks up against insureds' incomes.
The report utilized the latest U.S. Census data to determine the median household income of each state to calculate the percentage that goes toward insurance each month.
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Brittney Meredith-Miller
Brittney Meredith-Miller is assistant editor of PropertyCasualty360.com. She can be reached at [email protected].
