Louisiana has the highest average auto insurance rates in the United States, while Maine has the lowest, according to new data from Insure.com that ranks the states according to their average insurance rates (see the full ranking below).
The data, which Insure.com released Monday, comes from a study Quadrant Information Services performed for Insure.com to find the most and least expensive vehicle to insure nationwide, which we covered in this March Bucks post. The data, which determined average insurance premiums rates for more than 2,400 vehicles from the 2010 model year from six large carriers across 10 ZIP codes in each state, also enabled a comparison of auto insurance rates in general across the states.
Poizner's report on the company - which includes Mercury Insurance Co., Mercury Casualty Co. and California Automobile Insurance Co. - comes two months after state insurance officials made similar allegations against the firm.
Antagonists may counter that banks require collision coverage. But the banks aren't government. Banks are lien holders with vested interests in the collateral. Thus borrowers are required to protect their vehicles. Once loans are repaid banks have no interest in the vehicles and the insurance requirement disappears.
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Whether liability or collision, the government healthcare advocate still argues that auto insurance is government mandated. This is a half truth. States require drivers to carry liability insurance as a condition of using the public roads. However, there is no actual demand on anyone to buy auto insurance. If a person chooses not to drive a motorized vehicle on the public roadways the auto insurance requirement is inapplicable.
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