Plenty of folks are struggling with budgets that are stretched thin these days, and many are examining their insurance expenses as they search for ways to cut costs. According to Bankrate, full coverage auto insurance in the United States costs an average of $2,458 per year, or $205 per month.
These costs fluctuate wildly depending on where someone lives, as different areas carry higher amounts of risk due to things like a higher cost of living, minimum coverage requirements or a higher rate of traffic incidents.
Bankrate reports that states where drivers pay the most for full coverage auto coverage are Florida ($4,088 per year), New York ($3,846), Louisiana ($3,744), Missouri ($3,236) and Nevada ($3,194).
Meanwhile, those with the lowest average auto rates are residents in Idaho ($1,370 per year), Vermont ($1,412), Ohio ($1,533), Maine ($1,562) and Hawaii ($1,587).
Of course, these costs are also highly impacted by things like a person’s driving record, age and credit history.
With many experts projecting auto rates will continue to rise in the new year, how can insureds cut back costs while maintaining proper coverage? In the slideshow above, we’ll look at nine tips from Consumer Reports that may help drivers lower their auto insurance rates.
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