Highest Auto Insurance Rates in the Nation
Think your auto insurance rates are sky high? Well, just be glad you don’t live in Washington, D.C., which has the highest auto insurance rates in the nation.
This is actually big news for another state. The Garden State – New Jersey – has been the usually winner of this inauspicious award, but the state has seen its rates drop each of the last three years. This has allowed D.C. to pass it by and take the top spot. No doubt, residents in Washington will be oh so pleased to be paying the top rates. Technically, D.C. is not a state, but let’s not grasp at straws here!
If you are sick of your rates, remember there is something you can do about them. Making even a bit of effort can cut your payments down significantly. The first step is to shop the rates. When was the last time you priced insurance for your car? If it has been more than two years, you are overpaying. Rates across the country have been falling, so take the time to get some estimates. You can do it with the click of a mouse online.
The second step you can take is equally simple. Just raise the deductible on your policy. The deductible is simply the amount you have to pay before the insurance kicks in. The default amount on a policy is usually between $100 and $250. This is too low. Most people are not going to report a $500 repair because they’ll have to pay half of it and their rates will go up. Given this, why not just raise your deductible to $500 and cut the cost of our insurance? It just makes sense.
To cut premiums further, ask for a list of discounts the insurer offers. They will have discounts for everything from whether you have Lo Jack to a child driver that has good grades. The saving can really add up cumulatively, all the more so when you consider you will save them again and again as you pay for insurance each year.
Washington, D.C., may have the highest insurance rates in the nation, but that doesn’t mean you aren’t overpaying individually. Most people are. In these tight times, price your insurance to see if you can get a break.