MADISON, WI, Nov. 6, 2008 – Insuring your car is less expensive in Wisconsin than nearly any other state, according to a new study from a group of insurance regulators.
The National Association of Insurance Commissioners (NAIC) report shows that people in Wisconsin spend an average of $590 on auto insurance.
The NAIC report, which is based on 2006 data, says that the average auto insurance expenditure in Wisconsin is nearly 28 percent lower than the national average of $817. The state with the lowest average expenditure for auto insurance in the country is North Dakota at $530.
The average auto insurance expenditures in neighboring states are $925 in Michigan, $753 in Minnesota, $740 in Illinois and $535 in Iowa.
In fact, the NAIC data shows that the average auto insurance expense in Wisconsin actually declined in recent years, down from an average of $635 in 2004 and $615 in 2005. To view the study go to: http://www.naic.org/.
"Wisconsin insurance consumers continue to benefit from a highly competitive auto insurance market, sound regulation, and a Legislature that doesn’t artificially interfere with the insurance marketplace in a way that is adverse to consumer’s interests," said Andrew Franken, president of the Wisconsin Insurance Alliance.
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