An online car insurance shopping site ranks Hawaii as having the third cheapest rates in the nation.
According to CarInsuranceQuotes.com, motorists in the Aloha State pay a median annual car insurance policy cost of $1,244. That’s 1.634 percent of household income.
The cheapest on the list was in Massachusetts, where policyholders pay just 1.434 percent of household income. Michigan tops the list, where 8 percent of median household income goes toward car insurance, or a median annual price of more than $4,000.
The Honolulu Star-Advertiser reported Tuesday state of Hawaii Insurance Commissioner Gordon Ito attributes the positive ranking to several factors including a reduction in accidents and a highly competitive motor vehicle insurance market in Hawaii.
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