20.08.10
The price of automobile insurance in Ohio is rising, according to a new report.
The median half-year auto insurance rate for drivers in the state rose approximately 5 percent during the last six months to $560, according to InsWeb Corp. , an online insurance comparison provider. InsWeb (NASDAQ:INSW) also reported Ohio median auto insurance rates by gender: The median six-month rate for men is $585 and for women it is $531.
Motorists with the lowest median six-month rate in the state are in the group between 60 and 74 years old, paying $483, the report said.
Based on the median annual income of $41,532 for Ohio households, approximately 2.7 percent of gross income pays for car insurance. That makes Ohio the 14th most-affordable state in which to insure a vehicle, the InsWeb report said.
Massachusetts is the most affordable state, with 1.9 percent of gross household income going to pay premiums, while Louisiana is the most expensive, with 6.9 percent of household income used to pay for coverage, according to the report
Source: Columbus Business First
Each plot requires drivers to be financially responsible for operating and owning a vehicle. This means having advantageous auto coverage. While ...
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