Industry Report Says Ohio Has Lowest Auto Insurance In The Nation
Ohio has the lowest car insurance rates in the country, according to a industry report released today, despite a dramatic increase last year.
Insure.com says the average annual premium for a new vehicle in Ohio this year is $926, compared to a national average of $1503. Michigan and West Virginia top the list, with annual rates over $25-hundred. Ohio Insurance Institute spokesperson Mary Bonelli says the way the industry is regulated and heavy competition drives down the cost of insurance. About 660 car insurance companies are active in the Buckeye State; only Illinois and Texas have more providers.