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Report: Michigan motorists pay highest average auto insurance premiumPosted On Wed, March 16, 2011
A new report from Insure.com is adding insult to injury for Michigan residents, for not only do motorists there have one of the highest unemployment rates in the country, they also have the highest auto insurance rate.
According to a national survey of auto insurance premiums by Insure.com, Michigan residents pay the highest average premium in the country at $2,541 per year.
Researchers say the reason why Michigan overtook Louisiana for the top spot - a state whose residents now pay the second highest average premium at $2,453 - is because state law guarantees unlimited personal injury protection to people injured in car accidents.
Other states are trying to reform their PIP laws. For instance, last month, several insurance organizations in Florida called on the legislature to reform some of the state's laws relating to personal injury protection to help curb auto insurance fraud.
On the opposite end of the spectrum, Vermont motorists pay the lowest annual average auto insurance premium at $995, making it the only state whose residents aren't paying at least $1,000 per year.
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