North Carolina continues to stand out as the state with lowest auto insurance rates east of the Mississippi and fifth lowest in the nation.
The statistics are gleaned from a report by the National Association of Insurance Commissioners which compares the costs of personal automobile insurance in all 50 states and the District of Columbia, based on 2004 data.
While some states shifted rankings, North Carolina remained steady in the number five spot. Noteworthy in this distinction is that North Carolina is, according to census reports, the most populous state to enjoy a spot in the top 10 lowest states to rank in the NAIC’s report.
Under North Carolina’s rating system, the state sets a ceiling and insurers writing traditional policies can only diverge from this rate by offering discounts. As a result, most drivers enjoy some sort of discount.
The NAIC estimated the average premium for North Carolina drivers is $597, compared to $1,221 in New Jersey, the state with the highest rates.
States bordering North Carolina rank as follows: Tennessee — 11th; Virginia — 18th; South Carolina — 27th; Georgia — 28th.
Source: North Carolina Department of Insurance
Topics Auto North Carolina
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