The United States is the Most Expensive Country for Car Insurance
NEW YORK--Oct. 4, 2013: 4AutoInsuranceQuote.com, a website that offers car insurance quotes to drivers throughout the United States, has just posted a new article to the site that lists the five countries that have the highest auto insurance rates. As the article, Highest Car Insurance Rates, noted, the United States holds the dubious honor of being the most costly country for purchasing car insurance.
According to the newly-posted article, the average amount that people pay for car insurance in the United States is a whopping $1,706.86 per year. With the average income for most Americans hovering right around $50,000, the article points out that this equates to around 3 percent of a person's annual income going towards car insurance. Since each state varies in terms of how much drivers pay, the average figure does vary a bit depending on where people live; for example, in some states drivers might pay around $1,000 per year for auto insurance, while in others it can soar to well over $2,000 annually.
While the overall cost of car insurance also varies from country to country, the main factors that drive up the price of premiums are essentially the same no matter where somebody lives. For example, the article said, insurance companies take the safety of the roads in the particular country into consideration, as well as the types of vehicles that people are driving there.
"In general, you are going to find that the wealthier nations are actually the places where auto insurance tends to be the most expensive," the article noted, adding that the various issues that influence how much people will pay for car insurance can change from region to region in places like the United States.
"If you want to know where you are going to pay the most for car insurance, then you have to look at the places where people are driving fancy sports cars and seem to always find themselves in an auto accident."
Coming in at second place on the list of the top five costly car insurance countries is Austria, where insurance is typically paid for on a month-to-month basis. Germany, the United Kingdom, and Australia round out the rest of the list.