Cheapest car insurance for an 1. Even a no- frills car represents a huge expense for the 4 million or so Americans working a minimum- wage job. But it represents a bigger challenge in some places than in others. Young drivers in Rhode Island and New Hampshire will work nearly three times as long as their counterparts in Illinois to buy liability insurance that meets their state minimum car insurance requirements, according to a Car. Insurance. com analysis. We ranked states by the number of hours needed to buy coverage, comparing their cheapest car insurance for 1.
This is as cheap as insurance gets, and there are few trade- offs available to save further. For example, by law you can’t reduce your limits below the minimum amounts. And you can’t raise your deductible. There are no deductibles on liability insurance. According to the Bureau of Labor Statistics, the average hourly wage was $2.
December 2. 01. 4, up from $2. The average annual outlay for liability car insurance, says the Insurance Information Institute, was $5.
This means an average worker could buy a year of liability car insurance with about 2. But consider an 1.
The average state minimum wage as of July 2. And teenagers pay much more for insurance: The average price of a year of bare- bones coverage was $8. At those averages, a year of state minimum liability insurance would require 1. Because both wages and car insurance rates swing dramatically, we looked at affordability by comparing the cost of legal- minimum auto insurance with each state’s minimum wage.
Looking for The Cheapest Car Insurance. Liability car insurance is required by law, but there are other reasons to carry a policy. Most lenders require full coverage.
Young drivers in Rhode Island and New Hampshire had it worst, with 1. A young driver finds much cheaper insurance in Illinois - - a year of liability insurance takes just 5.
How much is car insurance for an 1. We compared rates using the state’s cheapest ZIP code for a young driver with a clean record, good credit and previous insurance on a parent’s policy. We chose the least expensive rate we found. Unless you’re 1. 8, male, a resident of the particular addresses we used and proud owner of a 1. Ford Taurus, your quotes probably won’t exactly match ours, which are only a snapshot of available rates. They are, however, a good indicator of the financial hurdle confronting teenagers who depend on their own car to commute to school or work. What an 1. 8- year- old pays for state- minimum liability.
1. Pick one of the cheapest cars to insure for young drivers. When looking for your first car, the cost of car insurance is often a big factor in the buying process.
Rank. State. ZIP code. Annual liability cost.
Minimum wage. Hours to buy. Illinois. 61. 76. North Carolina. 28. Iowa. 50. 01. 0$4. Nevada. 89. 42. 7$4. Missouri. 65. 10. Indiana. 47. 90. 5$4.
California. 93. 44. New Mexico. 88. 31. New York. 14. 58. Montana. 59. 60. 2$6.
Connecticut. 06. 49. Nebraska. 68. 50. Pennsylvania. 16. Washington. 99. 16. Kansas. 67. 40. 1$6. Vermont. 05. 44. 6$8.
Florida. 32. 66. 9$7. Mississippi. 39. 75. Tennessee. 37. 68.
Wisconsin. 53. 08. Arizona. 86. 42. 6$8. Arkansas. 72. 76. Wyoming. 82. 00. 7$7. Alabama. 36. 54. 3$7. Georgia. 31. 60. 1$7.
Virginia. 22. 65. Idaho. 83. 71. 2$7. Texas. 76. 30. 6$8. Colorado. 80. 52.
Louisiana. 71. 02. Oregon. 97. 33. 0$1,0. Utah. 84. 77. 2$8. Minnesota. 56. 00. Maryland. 21. 78. South Carolina. 29.
Maine. 04. 10. 5$1,0. Oklahoma. 74. 00. Michigan. 49. 86.
Delaware. 19. 93. Ohio. 44. 83. 3$1,3. Kentucky. 41. 07. West Virginia. 25. New Jersey. 07. 93. New Hampshire. 03.
Rhode Island. 02. Alaska. 99. 82. 9$8. Hawaii. 96. 72. 2$7.
Massachusetts. 02. North Dakota. 58. South Dakota. 57. Washington, D. C. National average$8. Data missing or unavailable at time of publication** States that have no minimum wage or a minimum wage lower than the federal wage are displayed at the federal minimum.
How young drivers can get more affordable car insurance. The cost of liability insurance has more to do with the driver than the car. The insurance company isn’t going to fix your car, just the person’s you hit.) In your search for affordable auto insurance, these are the factors you have some control over: Your driving record: More than one violation or accident is going to hurt.
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What is not known by many consumers is that there's no such thing as the single cheapest company for all, because rates vary for each driver. For example, a shopper may have been referred to a certain carrier because a friend said their rates were very cheap; however, that shopper may call them only to find out that their insurance rates were not as expected.
The reason behind that is companies will offer discount auto insurance for consumers that fit their profitable category. For example, a certain company may have very few claims for married couples; because of this, they will reduce rates for drivers in the "married" category. Our goal at Online. Auto. Insurance. com is to allow consumers to shop multiple companies in order find the company that will offer them low cost car insurance for the desired coverage. Shoppers should arm themselves with the knowledge of available discounts to increase the chances of finding cheaper rates and potentially save as much as 3. Not always will an agent ask if a client is a student, for example.
That's why it's valuable to be knowledgeable about any available discounts. Questions Regarding Cheap Insurance. Insurance Agents vs.
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