According to a recent research, drivers all over the nation are having financial difficulties as a result of rising auto insurance rates.
According to a Bankrate survey, the cost of full coverage auto insurance jumped nationally this year to $2,543, or $212 per month, up 26% over the previous year.

According to the U.S. Census Bureau, the national median household income is $74,580. This means that, on average, Americans spend 3.41% of their income on auto insurance.

“Auto insurance rates have been rising at a breakneck pace,” said Greg McBride, chief financial analyst for Bankrate, said in a statement. “And though the pace of increases will eventually slow, that doesn’t mean premiums are coming down.”

Bankrate ranked all 26 metro areas and every state in the nation based on their true cost of auto insurance after analyzing the overall proportion of household income spent on the policy.

According to the survey, drivers in Detroit spend 7.98% of their income on auto insurance, making them the drivers with the highest real and net average costs of auto insurance.

Seattle drivers spend the least of their income on auto insurance.

Drivers in Florida and Louisiana, which have recently seen extreme weather, are paying, on average, 5.69% and 6.53%, respectively. Drivers in Wyoming witnessed a $1 decrease in premiums from 2023 to $1,581 in 2024.

The cost of auto insurance is affected by a number of factors, including inflation, population density, the driving behaviors of people who live in your state or ZIP code, and harsh weather.

One’s credit history, kind of vehicle, and driving record are all taken into consideration.