SACRAMENTO, CA -- (Marketwire) -- 03/01/11 -- InsWeb Corporation (NASDAQ: INSW) today released its 2011 State Median Car Insurance Rate Report. The report ranks all 50 states and Washington D.C. according to median household car insurance rate for a six-month policy.
To determine the rates, InsWeb uses a proprietary system that tracks the filed rates of the largest insurance carriers in each state as well as actual profiles of InsWeb customers.
The ten states with the lowest median rates are:
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2011 2010
Ranking State Six-month Median Rate Ranking
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1 Idaho $436 1
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2 Maine $452 8
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3 Vermont $462 5
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4 North Dakota $490 16
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5 North Carolina $495 2
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6 Minnesota $515 17
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7 Virginia $521 13
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8 Utah $531 12
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9 Ohio $540 9
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10 Wisconsin $546 14
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The ten states with the highest median rates are:
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2011 2010
Ranking State Six-month Median Rate Ranking
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51 Louisiana $1,111 51
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50 Maryland $942 46
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49 Rhode Island $911 48
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48 Nevada $876 47
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47 Arizona $842 44
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Washington
46 D.C. $823 39
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45 New York $819 50
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44 Connecticut $814 49
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43 California $809 43
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42 Georgia $799 38
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InsWeb also reported the current national median car insurance rate as well as the national median rates for specific demographic groups:
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Demographic
Group 2011 Median 2010 Median Year-over-year
(National) Rate Rate Change
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All Drivers $675 $715 -5.6%
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Men $697 $735 -5.2%
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Women $647 $695 -6.9%
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Age Group: 19 and younger $1,435 $1,356 +5.8%
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Age Group: 20 to 24 $925 $982 -5.8%
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Age Group: 25 to 29 $700 $747 -6.3%
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Age Group: 30 to 39 $658 $710 -7.3%
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Age Group: 40 to 49 $646 $690 -6.4%
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Age Group: 50 to 59 $599 $620 -3.4%
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Age Group: 60 to 74 $611 $590 +3.6%
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Age Group: 75 and older $661 $633 +4.4%
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"Our State Median Rate Report gives readers a good sense of where drivers are paying the most for car insurance," said Brad Cooper, Senior Vice President of Operations at InsWeb. "But it's important to remember that just because a state has a high median rate does not necessarily mean that car insurance in that state is expensive for all residents. Factors such as vehicle make and model influence rates significantly. So in states where residents tend to drive more expensive vehicles, it's not uncommon to see higher insurance rates."
"InsWeb's Car Insurance Affordability Index, which we'll release again soon, takes a closer look at this phenomenon," he added.
To see the complete list of state median rate rankings and to learn more about how the rates are determined, please visit www.insweb.com/auto-insurance/state-rates.html.
To learn more about saving on car insurance and to compare car insurance quotes, visit InsWeb.com.
About InsWeb
InsWeb Corporation (NASDAQ: INSW) owns and operates a network of leading insurance marketplace and education websites. Founded in 1995 and headquartered in Sacramento, California, InsWeb's primary properties include InsWeb.com, MedHealthInsurance.com, LocalInsuranceAgents.com, and AgentInsider.com. InsWeb has invented multiple e-commerce and online insurance distribution technologies and owns the following patents: 6,898,597; 7,107,325; 7,389,246; 7,640,176 and 7,707,505.
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Media Contact:
Jonathon D. Tudor
InsWeb Corporation
(916) 853-3386
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