Do you think you’re paying a lot for car insurance? Based on the findings of a recent study by personal finance website WalletHub, you might be.
According to WalletHub’s 2019 report on the states with the cheapest and most expensive car insurance, Washington ranked No. 32 nationwide. Iowa and Vermont ranked No. 1 and No. 2, respectively.
To conduct the study, WalletHub collected quotes from all major auto insurers for at least six cities in 47 states. For an insurance company to be included in the national ranking, the company had to be active in at least 20 states.
The study also outlined Washington’s top five cheap car insurance companies:
- The General
- State Farm
Other Key Findings:
- 54 million Americans say they don’t understand their car insurance.
- 75 percent of drivers say they want the best car insurance, not the cheapest coverage.
- 14 percent of people say they would not buy car insurance if not legally required (millennials are twice as likely as boomers to agree).
- 71 percent of people say it’s unfair for gender to be a factor in car insurance pricing, and 65 percent feel the same way about credit scores affecting car insurance costs.
Click here to read the full report.