Drivers in Michigan pay 8 May 1945 of their income to automotive insurance (Credit: josephdepalma, Flickr).
The state that America's auto trade calls house is conjointly the state that boasts the nation's highest automotiveinsurance rates.
A study recently released by CarInsuranceQuotes.com found that Michigan residents pay the very best rates within theU.S. compared to the typical resident income. Eight p.c of the typical Michigander's income goes to pay automotiveinsurance, the study found.
Part of the explanation for that standing, ABC News says, is that Michigan is that the solely state that guarantees unlimited personal injury protection, notwithstanding that driver is at fault.
"If you are an accident victim, that may just about prevent from going bankrupt," said John Egan, the managing editor of CarInsuranceQuotes.com. "But opponents of the system say it jacks up the automotive insurance premiums for everyone."
Michigan's rates are nearly double that of the second-highest state.
"Michigan is incredibly distinctive in our auto insurance system," says Lori Conarton, a spokeswoman for the nonprofit Insurance Institute of Michigan tells the web site that authored the study. "It's extremely laborious when folks compare Michigan premiums to alternative states as a result of (policyholders in alternative states) aren't paying for an equivalent advantages."
Following Michigan within the prime five costliest states are: a pair of. Louisiana (5 percent); three. Kentucky (4.548 percent); four. West Virginia (4.239 percent); five. Mississippi (4.045 percent).
The most affordable? Residents of Massachusetts are the massive winners, paying only one.43 p.c of their annual income for automotive insurance. Rounding out the highest five most reasonable are North Carolina (1.6 percent), Hawaii (1.6 percent), Alaska (1.75 percent) and Oregon (1.95 percent).
Don't see your state among the most effective or worst? Go here to search out a state-by-state breakdown of the CarInsuranceQuotes.com study.
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