Saturday, November 7, 2009

New York Auto Insurance Rates Decline

The median six-month auto insurance rate in the state of New York has decreased more than 20 percent since the beginning of 2009 to reach $970.25, according to InsuranceRates.com™.

New York rate statistics:


-- Men in New York pay a median auto insurance rate almost 12 percent
higher than women.
-- Drivers in New York 19 years of age or younger pay a median auto
insurance rate that is over 100 percent higher than drivers age 60 to 74.
-- New York auto insurance rates declined just over two percentage points
more than the national median, which declined 18.1 percent over the same
period.
-- A New York driver who pays the six-month median rate of $970.25 and
earns the New York median annual income of $42,414 pays approximately 4.58
percent of his or her gross income for auto insurance. By this
"affordability factor," New York is the 5th most expensive state to insure
a vehicle. Currently, Massachusetts is the most affordable with a factor of
1.96 percent, while Louisiana is the most expensive with a factor of 6.70
percent.

No comments:

Post a Comment