At CoverHound, we work diligently to keep our customers in the know on any and all trends in the auto insurance industry. To ensure that you’re getting the best car insurance rates, we have compared claims data against premium charges by state and region. In our research we have found that the minimum state insurance carrying laws often do not match insurance claims values in damages and injury as the direct result of an auto collision. State minimums don’t fully protect us—only our proactivity can. To make a well-educated auto insurance decision, get help from CoverHound; we’ll do all we can to get you the best of the best.
Annual Premium Spending
Through our own internal data, we’ve found that as of 2015 the annual cost of auto insurance in the South topped out at $1,426.48. There are many factors that contribute to the cost of our insurance premium. The most well-known being our age and gender and the make, model and year of our vehicle. But did you know that auto insurance rates are affected in states hit with natural disasters?
The Insurance Information Institute (III) found that insured losses due to natural disasters in the U.S. in 2015 cost insurance agencies a total of $16.1 billion. When thunderstorms and tornados have the power to wreak this much havoc, insurance carriers are going to charge more for their services to safeguard their company against financial losses in order to fully protect each and everyone of their clients.
Property damage after a natural disaster leaves many people in economic ruin, but when you carry insurance as a precaution, you are shielding yourself from this. Because the Southern states are at the mercy of natural disasters, insurance companies have labeled them as “at-risk.” When your property (your vehicle) is considered at risk, your premiums are higher because the insurer will have to pay more money for your repairs and medical bills.
The Southerner’s Choice: Progressive Auto Insurance
By a clear landside, we found that Progressive Insurance has been the number one choice for our Southern constituents. 16 of the 21 states that make up the Southern region of the U.S. are insured most affordably by Progressive, with four states favoring Mercury Insurance and one favoring CSE Insurance.
Founded in 1937, Progressive has more than $14 billion in auto insurance policies, and was the first insurance agency to offer its clients monthly premiums. Because Progressive focuses mainly on auto insurance, Southerners have found that their auto insurance questions and concerns have been answered and met with great care.
StateAnnual Premium CostInsurance AgencyAlabama$1,016ProgressiveNorth Carolina$1,076ProgressiveMissouri$1,113ProgressiveTennessee$1,128ProgressiveColorado$1,148ProgressiveOklahoma$1,182MercuryNew Mexico$1,186ProgressiveOhio$1,187ProgressiveKansas$1,237ProgressiveNevada$1,301CSEArkansas$1,388ProgressiveVirginia$1,406MercuryGeorgia$1,454MercuryMississippi$1,500ProgressiveTexas$1,571MercurySouth Carolina$1,619ProgressiveLouisiana$1,656ProgressiveKentucky$1,716ProgressiveWest Virginia$1,820ProgressiveFlorida$2,042ProgressiveMaryland$2,210Progressive
In life we’ve learned to expect the unexpected, but a car accident or damage still sends us reeling. At CoverHound we help you partner with an insurance carrier who has your best interests at heart. Click here to meet your new agent.