Americans are now spending more on their auto insurance, as evidenced by its rising expenditure value across the country. This is because people tend to buy collision and comprehensive insurance on top of their basic policy. Oxford Auto Insurance offers all these and more with low monthly payments.
[Chicago, 5/9/2019] – People are spending more on auto insurance, based on the rising related expenditure across the country. Auto insurance costs rose 5.3%, from $889.09 in 2015 to $935.80 in 2016, according to the latest data from the National Association of Insurance Commissioners (NAIC).
NAIC said over 77% of insured drivers buy comprehensive insurance, while 73% also get coverage for collisions on top of basic liability insurance. With more people seeing the importance of these insurance types, they will benefit from Illinois-based Oxford Auto Insurance’s comprehensive, collision, and medical payment coverage. The company offers Chicago drivers low monthly payments for these policies.
Lower Auto Insurance Rate in Illinois
Among all states, Michigan has the most expensive average annual rate for auto insurance, at $2,693. It’s followed by Louisiana ($2,339) and Rhode Island ($2,110), according to the report, “The State of Auto Insurance 2019” by The Zebra. The state with the least expensive annual rate is Maine, with $896. Slightly above it is Virginia ($918) and North Carolina ($947). Illinois, on the other hand, is in 15th place, with an annual auto insurance rate of $1,222 – less than half the cost of Michigan’s.
Affordable Auto Insurance
The State of Auto Insurance report also stated that to protect the driver, passengers, and the vehicle, it’s best to add comprehensive and collision coverage. Industry professionals say minimum liability insurance is just not enough.
As such, Oxford Auto Insurance provides coverage for both types. It also offers a medical payment to cover costs related to the driver or passenger’s hospital bills in case of an accident. The company says that its customers can expect to pay as little as $23 a month for state-required liability insurance.
Customers may also choose the right payment plan that fits their budget, whether it be a six or 12-month policy. Oxford Auto Insurance even offers SR-22 insurance for drivers in a pinch because of certain violations. The company keeps its auto insurance rates competitive by shopping and comparing over 15 companies to get the best deal.