At a time when many consumers are still struggling to pay their auto insurance premiums thanks to the nation's continued economic struggles, online insurance comparison provider
According to the "2011 Car Insurance Affordability Index," for the second consecutive year, Massachusetts offers the most affordable auto insurance rates, while Louisiana offers the least affordable.
In compiling the list, InsWeb ranked all 50 states (as well as Washington D.C.) according to their affordability factors. A state's affordability factor is determined by dividing its median household car insurance rate by its median household income. The lower the factor, the less a typical family in that state tends to spend on car insurance relative to its budget, InsWeb says.
The 10 states with the most affordable rates are:
1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
The 10 states with the least affordable rates are:
51.
50.
49.
48.
47.
46.
45.
44.
43.
42.
"Comparing state car insurance rates tells us where drivers are paying the highest and lowest premiums, but it doesn't tell us much about how affordable those premiums really are," says Brad Cooper, chief revenue officer, InsWeb. "To understand that, you have to consider how much of an individual's or family's budget goes toward car insurance, and that's what our Affordability Index examines."
To see the complete ranking,
In late March, Insure.com
According to the study, the national average annual premium is $1,561, but Michigan, Louisiana and Oklahoma far surpassed that as the most expensive states. Comparatively, Vermont, South Carolina and Main were the three cheapest states.
To see the full list of states in Insure.com's study,
