MADISON, WI (WTAQ) - Wisconsin has the nation's seventh-lowest auto insurance rates.
That's according to a new survey by Insure.Com.
It said the average annual premium for Wisconsin is $1,087. That's on a 2014 vehicle with a $500 deductible for both comprehensive and collision coverage, and a 40-year-old male driver with a good record.
Wisconsin is normally among the cheapest states to buy auto insurance. J.P. Wieske of the state insurance commissioner's office says Wisconsin has a lot of competition for private coverage, with a great deal of consumer choice -- and those are a couple of reasons that rates are so low.
The Badger State has about 200 companies selling private auto insurance. In neighboring Michigan, the average premium is just over $2,500 -- almost two-and-a-half times that of Wisconsin.
Officials blame that on Michigan's no fault coverage system, in which policy holders must buy lifetime personal injury protection that applies to everyone in a car without their own benefits.
(Story courtesy of Wheeler News Service)