Nevada ranked the second highest auto insurance coverage charges within the nation, in accordance with Insurify.
Auto insurance coverage charges have been hovering for years, and 2024 was no completely different.
Insurify reported this week that the value of automobile insurance coverage premiums climbed 15% final yr, with American drivers now shelling out a median of $2,313 yearly for full protection.
This is the place drivers paid probably the most for full protection in 2024:
Maryland – $4,060, up 53% 
Site visitors on Interstate 95 (I-95) in Baltimore, Maryland, on Thursday, April 4, 2024. (Photographer: Nathan Howard/Bloomberg through Getty Photos / Getty Photos)
“Maryland’s auto insurance rates tend to be influenced by its large population centers, such as Baltimore, and its proximity to Washington, D.C.,” Insurify VP of Service Administration and Operations Betsy Stella instructed FOX Enterprise. “With urban areas often experiencing higher claim frequencies due to congestion and traffic-related incidents, insurers in the state adjust their rates accordingly to reflect the increased risk.”
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New York – $3,804, up 53% 
New York drivers noticed their automobile insurance coverage leap 53% final yr, on common. (Gary Hershorn/Getty Photos / Getty Photos)
“New York has seen slower regulatory approval for rate increases, which has made it more challenging for insurers to keep pace with rising loss costs,” Stella defined. “As a result, the state’s rate adjustments are more heavily influenced by inflationary pressures that have impacted the insurance industry in recent years, rather than immediate changes in claims frequency.”
District of Columbia – $3,399, up 24% 
Site visitors on North Capitol road in Washington, DC. (Photograph by Invoice O’Leary/The Washington Put up through Getty Photos / Getty Photos)
“Similar to Maryland, Washington, D.C.’s urban setting contributes to higher auto insurance rates due to the frequency of claims in densely populated areas,” mentioned Stella. “Insurers must account for the increased risk of traffic-related accidents in this region, which leads to adjustments in premiums for local drivers.”
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South Carolina – $3,393, up 29% 
Myrtle Seashore, South Carolina (Photograph by Sean Rayford/Getty Photos / Getty Photos)
Stella mentioned that in South Carolina, probably the most vital components driving auto insurance coverage price will increase are inflationary pressures and rising restore prices.
“As the cost of parts and labor continues to climb, insurers must adjust their rates to maintain profitability while ensuring adequate coverage for policyholders,” she mentioned.
Florida – $3,166, up 9% 
Miami, Florida ( Joe Raedle/Getty Photos) / Getty Photos)
“Florida’s auto insurance market is affected by several factors, including a growing population and a higher frequency of severe claims,” Stella famous, including that inflationary pressures, together with the rising prices of repairs, have additional pushed charges upward within the state.
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“Additionally,” she mentioned, “the state’s vulnerability to weather events—such as hurricanes—also plays a role in the rising cost of auto insurance.”
