How expensive is Car Insurance?
Just like the location of your home affects the home owners insurance and overall prices around you, car insurance changes depending on where you are located.
According to MostExpensiveJournal.com, Car insurance can be an expensive prospect for automobile owners. If you think you’re paying too much, though, maybe you should compare your insurance rates to those of the most expensive car insurance in the world.
In 2005, New Jersey had the most expensive auto insurance in the nation. The average insurance expenditure, at the time, was $1,184. Considering that this was actually 3.1% less than the average expenditure in 2004, New Jersey residents may have been happy to pay the country’s most expensive premiums.
In second place, DC was only $2 behind New Jersey at $1,182. New York took third place with a $1,122 average.
Of course, the amount you pay for insurance depends substantially on the vehicle you’re insuring. If you plan to own a Dodge Ram pickup truck, for instance, you can expect a hole in your wallet just as big as your vehicle. Owners pay an average premium of $1,336 for insurance. The high insurance payments on these trucks are due to the fact that they are, apparently, prone to both property damage and bodily injury.
The most expensive auto insurance in the world, though, comes from former UK Prime Minister Tony Blair’s old neighborhood. Islington, a north London neighborhood, may have a few wealthy areas but it also has a car theft rate two and a half times England’s national average. This accounts for a phenomenal average premium of £745/month. In the US, that would be nearly $1,500!