St. Louis boasts highest car insurance rates in state

A new report shows that St. Louis tops other cities in the states, with $484 in average premium payments

Insurance News

By Lyle Adriano

While the average car insurance policy in the state of Missouri is $484 a year, motorists in St. Louis have rates 49% higher—$239 more—than the state average, according to a study by a personal finance website.

ValuePenguin’s survey collected 1,482 auto insurance rates from 19 Missouri insurers. A 30-year-old man driving a 2011 Toyota Camry to work and back with the state’s minimum requirements was used as the basis for the quotes gathered for the survey.

Within St. Louis County, prices differed among the suburbs and CDPs, but all had significantly higher insurance rates than the state average. Spanish Lake had the second highest rates with an extra $178. Ferguson is third with an additional $181. University City is fourth with $141.

When it came to ranking areas with the lowest rates, Bethany came up on the top, with quotes that are 21% less ($103 lower) that the state average. Brookfield, Chillicothe, Maryville, and Ozark were also identified as cities with considerably lower insurance rates than the average.

Insurance companies use a variety of factors to gauge the insurance rates of a driver. Such factors include the motorist’s city, credit score, occupation, and even educational level.

Some insurers justify charging customers more in areas infamous for their high rate of thefts and vandalism, as well as densely populated regions where accidents are more likely to occur.
 

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