As the Libertarian Candidate for Insurance Commissioner I've been digging around the internet looking for info on the state of insurance in Georgia and I'm not liking what I'm finding. Today's research was focused on getting a ranking for auto insurance products in Georgia that was within a year old and compared us to our sister states for a quick look see as to where we Georgians are.
Insure.com had a state by state break down that fit the requirement. As with everything in insurance, you can't get an across the board number on anything so here are the parameters used by Insure.com for this survey:
The results came from a study that collected average auto insurance rates for more than 2,400 vehicles, based on 10 ZIP codes per state and rates from six large carriers, with averages calculated nationally and for each state.
That's a pretty good sample size but I don't know if the zip codes represent an even break for urban/rural areas. Still, as method for generating comparison numbers it looks pretty good.
Georgia ranks as the 8th most expensive state in the USA for auto insurance at $1,751.24. Alabama ranks #30 at $1.380.38, Florida ranks #25 at $1453.20, South Carolina ranks #41 at $1,182.14, Tennessee ranks #42 at $1,170.12 and North Carolina ranks at #44 with $1,130.45.
Here's the ranking info for all 50 states, please note the national average is $1,429.26 and our fair state is running at $1,751.42.
1. Louisiana $2,510.87
2. Michigan $2,098.29
3. Oklahoma $1,869.39
4. Montana $1,857.96
5. California $1,774.41
6. South Dakota $1,772.83
7. Washington, D.C. $1,753.19
8. Georgia $1,751.42
9. Illinois $1,679.15
10. Connecticut $1,678.90
11. Arkansas $1,648.80
12. New Mexico $1,603.65
13. Rhode Island $1,595.97
14. West Virginia $1,589.69
15. Alaska $1,572.21
16. Wyoming $1,552.98
17. Maryland $1,550.13
18. Kansas $1,524.51
19. Kentucky $1,515.30
20. Colorado $1,480.97
21. Mississippi $1,474.94
22. New Jersey $1,473.73
23. New York $1,463.21
24. Texas $1,462.65
25. Florida $1,453.20
National Average $1,429.26
26. Pennsylvania $1,420.78
27. Delaware $1,405.80
28. Missouri $1,390.59
29. Minnesota $1,381.09
30. Alabama $1,380.38
31. North Dakota $1,365.22
32. Hawaii $1,306.97
33. Indiana $1,302.51
34. Nevada $1,282.50
35. Washington $1,279.84
36. Utah $1,234.30
37. Virginia $1,233.36
38. Nebraska $1,210.74
39. Oregon $1,194.69
40. Idaho $1,183.47
41. South Carolina $1,182.18
42. Tennessee $1,170.12
43. Arizona $1,152.50
44. North Carolina $1,130.45
45. Massachusetts $1,043.80
46. Iowa $1,039.04
47. New Hampshire $1,011.23
48. Wisconsin $1,010.93
49. Ohio $999.86
50. Vermont $968.58
51. Maine $902.85
I'd like to know where we were ranking 10 years ago, perhaps some of the readership have access to that kind of data and are willing to share. The larger question to me is why is Georgia the most expensive state in the south for car insurance? And what can be done to bring us more in line with our neighbors?
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