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Auto insurance tends to be most expensive in Louisiana and cheapest in Maine, according to an annual survey that shows rates vary widely across the country.


Louisiana is No. 1 -- but not in a desirable way. It has the highest average car insurance rates in the nation, followed by Michigan and Georgia, according to Insure.com's annual state-by-state comparison of insurance premiums. Maine enjoys the least expensive car insurance rates, followed by Iowa.

Insure.com commissioned Quadrant Information Services to provide auto insurance rates for more than 750 car models from six large carriers (Allstate, Farmers, GEICO, Nationwide, Progressive and State Farm) in 10 ZIP codes per state. Rates were compiled in December 2012.

Rates are based on insurance for a single, 40-year-old male who commutes 12 miles to work each day, with policy limits of 100/300/50 ($100,000 for injury liability for one person, $300,000 for all injuries and $50,000 for property damage in an accident) and a $500 deductible on collision and comprehensive coverage. The hypothetical driver has a clean record and good credit. The rate includes uninsured motorist coverage. Actual rates will depend on individual driver factors.

 

Top 5 most expensive states for car insurance

Rank

State

Average annual premium

1

Louisiana

 $2,699

2

Michigan

 $2,520

3

Georgia

 $2,155

4

Oklahoma

 $2,074

5

Montana

 $1,914

Least expensive states

46

New Hampshire

$1,112

47

Ohio

$1,106

48

North Carolina

$1,085

49

Iowa

$1,028

50

Maine

$934

Source - MSN Money

Posted 12:54 PM

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