ÌÇÐÄÆƽâ°æ

Men typically face higher automotive insurance costs in the United States than women, this was apparent across the majority of leading auto insurance providers in the United States. This was particularly prevalent in the 17-year-old age category, with the average insurance rate for young males being over **** U.S. dollars more expensive with *** out of 11 of the leading insurers. American Family had the largest price difference at **** U.S. dollars, with the average 17-year-old female receiving an annual rate of U.S. dollars and the average 17-year-old age males receiving an annual rate of U.S. dollars.

What factors into the cost of motor insurance?

Requirements regarding auto insurance in the U.S. differ from state to state, but in most states some form of minimum insurance coverage is compulsory. The cost of insurance is determined by a variety of factors, including location, gender, age, type of vehicle, and personal factors such as how many accidents the driver has had and their credit score. These factors can create major price differences, with average insurance costs of the most expensive state (Michigan) being over *** times higher than the cheapest state (Iowa).

Why is there such a large motor insurance market in the U.S.?

There *** of *** of motor vehicles registered in the United States, creating an enormous market for auto insurance. However, there is a reason that most states require a minimum level of insurance – each year millions of vehicle crashes occur, which lead to incurred losses for auto insurers.