Car insurance is on the rise for many American drivers, but car insurance premiums are falling in many states as well.
- Kentucky drivers will see the most widespread and noticeable changes to car insurance premiums, with over 1.5 million drivers seeing falling rates, at an average of a 5% drop.
- Over one million drivers in both Louisiana and Kansas will have lower rates in 2020. Michigan, Arkansas, and Mississippi drivers will also see their premiums decrease.
- See Business Insider’s picks for the best affordable car insurance companies
Car insurance costs are on the rise in many states in the US.
But, car insurance premiums are actually falling for many more Americans than they are rising. About 7.7 million American drivers are projected to see a decrease in the first half of 2020, while about 5.6 million Americans can expect to see their rates increase.
Every insurance company in each state files a request for rate changes when increasing or decreasing rates, and all changes are subject to approval by the Department of Insurance. Even after filing and approval, changes are possible. This data looks only at changes to premiums that have already been approved. For more on the methodology, scroll to the end of this article.
If you’re living in one of these 15 states (listed below from least to most policyholders affected) and your rate doesn’t go down, it might be worth shopping around to see if there’s a better rate available.
15. South Carolina
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Car insurance rates are rather volatile in the Palmetto State in 2020 while over 68,000 customers will see a small decrease, over 1 million South Carolina residents will see their rates go up this year.
Number of policyholders affected: 68,668
Average rate decrease: .1%
14. Pennsylvania
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About 76,000 customers in Pennsylvania will see some slight decreases to their car insurance bill in early 2020.
Number of policyholders affected: 76,538
Average rate decrease: .59%
13. Indiana
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Much like South Carolina drivers, Indiana residents are also seeing big changes in rates. While about half a million policyholders are seeing increases, 90,000 will see their rates decrease.
Number of policyholders affected: 90,875
Average rate decrease: 2.97%
12. North Dakota
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North Dakota drivers will see their rates drop by an average of a quarter of a percent.
Number of policyholders affected: 117,657
Average rate decrease: .25%
11. New York
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While many New York drivers are also seeing increases, over 170,000 drivers will see their rates drop in 2020.
Number of policyholders affected: 170,619
Average rate decrease: 4.1%
10. Delaware
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About 20% of Delaware residents will see their premiums drop in 2020.
Number of policyholders affected: 194,048
Average rate decrease: 1.16%
9. Texas
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Almost 200,000 Texans will see their rates drop slightly in 2020.
Number of policyholders affected: 197,019
Average rate decrease: 1.43%
8. Georgia
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About 390,000 Georgia drivers will see their rates go down in 2020.
Number of policyholders affected: 389,230
Average rate decrease: .15%
7. Nevada
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Nevada drivers could see some slight decreases to their car insurance bills.
Number of policyholders affected: 395,588
Average rate decrease: .65%
6. Mississippi
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About 18% of Mississippi drivers can look forward to a drop in their car insurance premiums this year.
Number of policyholders affected: 534,909
Average rate decrease: 2.87%
5. Arkansas
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About 20% of Arkansas’ 3 million residents will see a small drop in their car insurance premiums early this year.
Number of policyholders affected: 605,440
Average rate decrease: 2.46%
4. Michigan
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Michigan is one of the most expensive states in the US for car insurance. Luckily, over 900,000 policyholders will see a small break this year.
Number of policyholders affected: 922,225
Average rate decrease: 1.89%
3. Kansas
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Over 1 million Kansas drivers will see their auto insurance premiums lower in early 2020.
Number of policyholders affected: 1,033,162
Average rate decrease: 1.9%
