Hawaii Ranked 3rd Cheapest for Car Insurance
An online car insurance shopping site ranks Hawaii as having the third cheapest rates in the nation.
According to CarInsuranceQuotes.com, motorists in the Aloha State pay a median annual car insurance policy cost of $1,244. That’s 1.634 percent of household income.
The cheapest on the list was in Massachusetts, where policyholders pay just 1.434 percent of household income. Michigan tops the list, where 8 percent of median household income goes toward car insurance, or a median annual price of more than $4,000.
The Honolulu Star-Advertiser reported Tuesday state of Hawaii Insurance Commissioner Gordon Ito attributes the positive ranking to several factors including a reduction in accidents and a highly competitive motor vehicle insurance market in Hawaii.
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