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Kansas auto premiums among lowest in nation
9th November, 2007
Kansans spend less on auto insurance than residents in nearly every state in the nation, according to a study by the National Association of Insurance Commissioners.
The report shows the average auto insurance premium in Kansas was $590 per vehicle in 2005, down $13 from the state's 2004 average. It makes Kansas the fifth lowest price market for auto insurance in the nation.
North Dakota was the cheapest state at $554 per vehicle. Iowa was second at $555.
The most expensive was New Jersey at $1,184 per vehicle.
The study assumed all insured vehicles carry liability coverage, which is the only coverage Kansas drivers are required to have.
In a separate study, the average cost of a policy in Kansas with all three types of coverage -- liability, collision and comprehensive -- is $750. That's the seventh-lowest average in the nation.
Kansas Insurance Commissioner Sandy Praeger says the numbers show "Kansas has a healthy, competitive climate for vehicle insurance buyers."
According to the Kansas Insurance Department, 160 companies offer auto insurance policies in the Sunflower State.
Release link:
http://www.bizjournals.com
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