5 Cheapest States for Car Insurance

Massachusetts comes in first, as a percentage of household income


Auto insurance is something you have to have. If you’ve got a car, your state government is going to require you to have coverage. But which state you’re in can affect how much that requirement hurts your budget.

All sorts of factors go into how much a state can affect auto insurance, and different states weigh them differently. That can mean a huge swing in rates depending on what state you live in.

Here’s a partial list of the cheapest car insurance as a percent of household income:

  1. Massachusetts, 1.434% of household income
  2. North Carolina, 1.625% of household income
  3. Hawaii, 1.624% of household income
  4. Alaska, 1.752% of household income
  5. Oregon, 1.955% of household income

You can see the full list of most affordable states for car insurance at bankrate.com.

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Article printed from InvestorPlace Media, http://investorplace.com/2012/10/5-cheapest-states-for-car-insurance/.

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