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How Does Your Location Affect Car Insurance Rates?
Did you know that residents in Brooklyn, New York face the highest car insurance rates in the U.S.A.? They pay roughly $6,841 annually for full coverage auto insurance, around 75% higher than the state average. Meanwhile, Penfield, New York, offers rates as low as $1,713 per year. Additionally, drivers in Hamtramck, MI, and Palm Beach, FL, pay some of the highest car insurance rates. But why such a big difference? The answer lies in your location. So, how does where you live affect car insurance rates?
What Is the Cost of Car Insurance Based on Credit Score?
Inquisitive about how car insurance costs vary based on credit score? Your credit score has a huge impact on determining your car insurance premium. More than 45 states in the United States use credit-based insurance scores to assess risks. Higher credit scores mean you’ll pay a lot less for car insurance compared to those with poor credit scores. On average, drivers with poor credit pay about $4,644 per year for full coverage. In contrast, people with excellent credit pay around $2,257. If you have average credit, you might pay roughly $2,883 annually. However, these prices vary significantly by state.
How Make and Model Affect Car Insurance Rates?
Your car’s make and model have a huge impact on your insurance rate. If you purchase a luxury car, it will lead to costly repairs, so the insurance price will be higher. Also, the frequency of claim history for the specific make and model, auto repair/replacement costs, and safety features determine the insurance rate. For instance, insuring a luxury car like the BMW 330i can cost between $2,500 and $3,214 annually, while a more affordable vehicle like the Subaru Outback averages $2,175. Keep reading the article to learn how “make and model” affect your auto insurance rate and the auto insurance rates by make and model in 2025.
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