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Home > Communications > News
Poolman: North Dakota's Auto Insurance Ranks Cheapest in Nation
 
FOR IMMEDIATE RELEASE Contact: Jim Poolman
September 23, 2005 701-328-2440


Bismarck, ND - North Dakota Insurance Commissioner Jim Poolman announced today that North Dakotans enjoy the lowest average auto insurance premiums in the nation. This is according to a report issued by the National Association of Insurance Commissioners (NAIC) entitled, "State Average Expenditures & Premiums for Personal Automobile Insurance in 2003". Poolman said, "Our ranking is consistent with previous reports and is indicative of the strong and competitive marketplace here in North Dakota." 

North Dakota's average annual auto insurance expenditure of $536.30 is 35% lower than the national average of $820.91. According to Poolman, "This news indicates that in spite of the catastrophic storm damage in 2001, the marketplace for auto insurance in North Dakota has remained competitive."

According to the report, New Jersey, New York and the District of Columbia rank as the most expensive states for auto insurance. North Dakota as the least expensive state is followed by South Dakota and Iowa.

Average Auto Insurance Expenditures ~ 2003

Most Expensive
New Jersey ~ $1,188.42 ~ (1)
New York ~ $1,160.80 ~ (2)
District of Columbia ~ $1,129.31 ~ (3)

Neighboring States
Minnesota ~ $836.12 ~ (19)
Montana ~ $674.22 ~ (36)
South Dakota ~ $563.18 ~ (50)

Least Expensive
North Dakota ~ $536.30 ~ (51)
South Dakota ~ $563.18 ~ (50)
Iowa ~ $580.15 ~ (49)

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North Dakota Insurance Department
600 E. Boulevard Ave.
Bismarck, ND 58505-0320
Phone 701.328.2440
Toll free 800.247.0560
Fax 701.328.4880

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