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The Highs and Lows of American Insurance Expenditures [Motion Graphic]

Michigan residents currently put up with the highest auto insurance rates in the country, with an average annual cost of $2,551. And they're not alone; the states of West Virginia, Georgia, Rhode Island, and Washington, D.C. all have average rates totaling more than $2000.

So where could you move to enjoy lower auto insurance rates? You could try New Hampshire, Maine, or Idaho, which all have rates below $1,000.

If you're looking for ways to reduce your own insurance bill, we're hoping the motion graphic below gives you some ideas.

 

 

Here are a few of the best ways to take action on our car insurance bill:

  • Combine your insurance coverage - Save $285 when you combine your auto, homeowners, and life insurance together. 
  • Opt for a higher deductible - Simply increasing your deductible from $200 to $500 will save you over $450 a year! 
  • Keep your annual mileage low - Ride your bike to work or carpool to save on more than gas. You can get a discount if you drive less than 10,000 miles a year. 
  • Be a loyal customer - Many insurance companies offer discounts at your one year, three year, or five year mark. If only cable companies would do that! 
  • Opt for automatic withdrawals - Companies don't want to deal with paperwork either. Save a stamp and get rewarded with a discount by setting up online automatic payment. 
  • Stay in school - You can get savings from insurance companies if you get a bachelor's, master's, or Ph.D. 
  • Have good credit - You could save up to 50% if you have a great FICO credit score. 
  • Pay for small repairs out of pocket - Fewer claims means a lower auto insurance bill. Pay for repairs under $1,000 out of pocket.

Did you find this motion graphic interesting? If so, please share it with your friends, family, and followers!

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