Unemployment may be rising and the stock market may be unpredictable.
But the cost of buying, owning and running your car is more affordable — if you have a job. Gasoline prices are down dramatically. Auto companies are offering deals on new cars. And insuring your car is less expensive in Wisconsin than nearly any other state.
That’s according to a new study from a group of insurance regulators.
The National Association of Insurance Commissioners report that people in Wisconsin spend an average of $590 a year on their personal car insurance.
The report — based on information from 2006 — says that the average auto insurance spending in Wisconsin is almost 30 percent lower than the national average of nearly $820.
Wisconsin’s insurance price also beats what people pay in all the neighboring states except Iowa, where the average car insurance expenditure is $535.
And it’s been going down in recent years in the Badger State. The report shows that the average auto insurance expense in Wisconsin actually declined in recent years, down from an average of $635 in 2004 and $615 in 2005.
According to the report, the state with the lowest average expenditure for auto insurance in the country is North Dakota, where it cost $530 in 2006.
