College of Wisconsin – Inexperienced Bay: School Discover: Prof. Pangarkar Contributes To WalletHub For Greatest Wis Auto Insurance –

August 19, 2021

UW-Green Bay Associate Professor Aniruddha Pangarkar (Marketing, CSOB) featured in WalletHub's article on Best Auto Insurance in Wisconsin:

Why are car insurance prices so different from state to state?

In fact, car insurance prices vary from state to state. This is because automobile insurance is regulated at the state level and different states within the United States have their own requirements for the minimum coverage that drivers must have. Most states have minimum liability requirements and this helps determine the rates in each state. Also, consumers should be aware that the cost of living in the United States varies by state. For example, the presence of private equity firms in the San Francisco Bay Area, tech companies in Silicon Valley, or the film / entertainment industry in Los Angeles makes California an expensive state where people earn more, so it ends up getting the car -Increase insurance. In comparison, Midwestern states with lower cost of living could have lower auto insurance rates. So when a person moves from one state to another they must take these changes into account and ensure that their new policy reflects these revisions / updates for the new state they will be living in.

Comments are closed.