Business
Which city has the highest auto insurance rates?
By Michael Whitney
Auto insurance is a product that is a must have if you drive a vehicle. And every year, it seems as if it’s getting more expensive in every state.
Insurance quote.com compiled a list of cities with the highest auto insurance rates in the United States. Not surprisingly, Detroit, MI came in first.
Plagued with a barrage of troubles, such as bankruptcy and abandoned homes, Detroit’s auto insurance premiums are higher than New York City, Los Angeles and Atlanta.
Lori Conarton, communications director for the Institute of Michigan gives her reasons why insurance premiums in Detroit are the highest in the nation. She states that , “Michigan is a no-fault auto insurance state, which means each insurance company compensates its own policyholders for the cost of injuries regardless of who’s at fault in an accident.”
via Financial Juneteenth | Which city has the highest auto insurance rates? | Black Insurance News.
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