States with the Steepest Upward Pricing Trends
Average annual percent change: 11.6%
Mean monthly rate: $301.82
Cheapest insurer: Georgia Farm Bureau
Georgia has the fifth-fastest trend toward more expensive premiums, with costs having been steadily on the rise in the state for years. In 2018, the average monthly quote jumped by $32, only to be followed by a $47 spike in 2019. With the second-most expensive quotes on this ranking, these pricing surges are no laughing matter for Georgia drivers.
4. South Carolina
Average annual percent change: 12.1%
Mean monthly rate: $293.99
Cheapest insurer: USAA / American National P&C for civilians
According to the most recent data released by the Bureau of Economic Analysis, South Carolina has the seventh-lowest personal income per capita in the United States. Nonetheless, it has the fourth-fastest growing car insurance rates nationwide. Costs have risen 35.5 percent since 2017, for an average total of $924 more in the annual cost of insurance.
Average annual percent change: 13.0%
Mean monthly rate: $201.70
Cheapest insurer: USAA / Auto-Owners Insurance Co for civilians
Number three on our top five list is the Sunflower State. Prices have increased 13 percent a year on average, so that Kansas drivers now pay approximately $60 more per month for the same coverage as they did in 2017.
Average annual percent change: 14.1%
Mean monthly rate: $458.64
Cheapest insurer: Metropolitan
Moving into 2020, Michigan insurance prices are on trend to increase by 14.1 percent. However, the reality is much more up in the air. This past May, the Michigan state legislature passed bipartisan automotive insurance reform that has the potential to save car owners hundreds of dollars on personal injury protection and the annual Michigan catastrophic claims fee. However, until the law takes effect this July, there’s no telling how the legislation will impact the cost of policies, as non-PIP coverage has no protections against price hikes under the bill.
Average annual percent change: 15.8%
Mean monthly rate: $179.26
Cheapest insurer: USAA / State Farm for civilians
The state with the largest upward trend in insurance costs is Montana. Annual premiums have increased by approximately $360 each year, and show no signs of slowing moving into 2020. This may not be a distinction Montanans want, but it’s one that they can now claim, like it or not.
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