Boston car insurance rates cheaper than most cities, study finds
BOSTON - The average cost of car insurance is up nearly 14% in the past year, though there is good news for local drivers.
A Bankrate study found the price of full-coverage insurance is now about $2,014. Adding a teenager to the policy, getting a speeding ticket or being convicted of drunk driving could raise those costs even further.
Fortunately Boston has some of the cheapest full coverage prices among the nation's largest cities. Here the average cost of insurance is about $1,328 - about 1.3% of annual income.
For comparison, the average annual premium in Miami is $3,447 - about 5.5% of a driver's income.
"Drivers in Boston benefit from a fairly high average income as well as a below-average full coverage car insurance rate," Bankrate said.
Statewide, Massachusetts drivers saw an average rate decrease of 2.62%, from $1,296 to $1,262.
