The median six-month auto insurance rate in California has decreased approximately 3.1 percent over the past 12 months to reach $809 according to InsWeb. Over the same 12-month period, the national median auto insurance rate has declined approximately 5.6 percent to reach $675.
According to the online insurance comparison provider’s data, a household that pays the California median rate of $809 and earns the California household median annual income of $46,892 pays approximately 3.4 percent of its gross income for car insurance. The company’s car insurance affordability index indicates California is the 19th most expensive state in which to insure a vehicle. Currently, Minnesota is the most affordable state with an affordability factor of 2.2 percent, while Louisiana is the most expensive with a factor of 6.6 percent.
Data reveals that men in California pay a median auto insurance rate that is approximately 7.7 percent higher than the rate paid by women.
Additionally, drivers in California 19 years of age and younger pay a median auto insurance rate that is more than double the rates paid by every other age segment except those ages 20 to 24. Rread more: http://www.insurancejournal.com/news/west/2011/02/24/187888.htm
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