Why you might not be getting the best rate for your car insurance
If you’re wondering why you’re paying more for car insurance than you should, you’re not alone.
According to data from insurer Progressive Insurance, the average car insurance rate in the US is $4,735 per year, compared with $3,929 for the same type of policy in the UK, and $2,958 for a similar type of auto policy in Australia.
The UK, meanwhile, offers the same amount for a $3m policy, but it’s only for the first 12 months.
While many people who drive regularly may be more likely to have lower rates, the US and Australia do tend to offer higher coverage.
According the Insurance Institute for Highway Safety, people driving more than one million miles per year can expect an average annual rate of $1,817 per year.
While that might seem like a lot, it’s worth remembering that car insurance is a pretty expensive business, so the average rate is actually slightly lower than what many people will be paying.
If you’re looking to buy a car insurance policy for yourself, the cheapest rate you can find is on the website of Florida Insurance Agency, but you’ll also find cheaper rates on a range of online brokers.
There are other factors to consider if you’re planning to buy your own car insurance, including whether you’ll need to pay the deductible, the maximum amount you can spend on car insurance and the total cost of any claims you’ll be filing.
The latest figures on car pricing can be found in the latest annual report from insurance firm Aon Hewitt.
According that report, the rate for the average US-resident is now $3.7 million, up by $1.3 million on last year, but that figure is actually lower than the average for the UK.
It also shows that the average price of a car in the United States has decreased by more than 5 per cent in the past year.