PROVIDENCE – Rhode Island is ranked No. 2 for the lowest auto insurance rate growth as a result of annual mileage increase, according to an InsuranceQuotes study released Tuesday.
With an average increase of 1.07 percent per annual mileage increase of 5,000 to 20,000 miles, the Ocean State only fell behind North Carolina, which saw an average increase of 0 percent over the same mileage growth.
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California saw the most drastic increase in premiums, 25.66 percent, a great deal higher than No. 2 ranked Alabama which saw an increase of 9.79 percent. After Rhode Island, Georgia was ranked No. 3 in having the lowest rate increases with a rate of 2.53 percent.
The top five states with highest insurance rate increases:
- California – 25.66 percent
- Alabama – 9.79 percent
- Virginia – 9.21 percent
- Massachusetts – 9.13 percent
- Washington D.C. – 9.07 percent
The top five states with lowest insurance rate increases:
- North Carolina – 0 percent
- Rhode Island – 1.07 percent
- Georgia – 2.53 percent
- Texas – 2.82 percent
- Oregon – 3.06 percent
The study examined how mileage increases affect insurance premiums among the largest carriers in the market in each U.S. state and the District of Columbia. The study based averages off impacts on the insurance of a theoretical employed, college educated 45-year-old female driving a 2015 vehicle.
Kyle Borowski is a PBN contributing writer.
