North Dakota Insurance

The assurance of the economy is in a new study confirms what some consumers have long suspected: Where You Live affects the prices of premiums.

For example, car owners in Miami, New York City and Newark, New Jersey, where a quantity of stolen vehicles, as a general rule, pay bills heftier insurance as a driver in other cities.

In the largest study of this type, industry Highway Loss Data Institute review of insurance losses due to theft, vandalism or forces of nature, such as floods, for vehicles of less than 3 years in hundreds cities of the country more than a dozen years. He continued loss of 3 million cars.

The losses vary as much as $ 250 per year on average per registered vehicle from town to town. These costs are higher for consumers premium on the full participation of their insurance policies, insurers say.

The dubious of the highest distinction in losses the last three years, was not one of the largest metropolises of the nation, but Grand Forks, ND, the soil was zero in recent years massive flooding if the Red River broke its banks. There, the overall loss, on average, a map festive indicative $ 315

Was second place in Miami, a city with a large number of requests for car theft, $ 286 per vehicle.

During the 12-year span, the losses suffered by vehicle in Miami amounting to $ 69 for the year 1985, while those in New York and Newark, NJ, culminating surface, a few years ago, but Generally, remains high at $ 168. Losses in many cities in Texas has decreased, especially in Houston from $ 139 to $ 56 Texas has a large auto-theft prevention.

Losses to San Diego and Los Angeles have recently gone up to $ 97 and $ 89, respectively.

The part of a comprehensive policy covers noncollision auto damage. The flights of dollars each type of loss.

“If you live in a region with a high rate of insurance claims and theft to protect, then your premium will be higher,” said Dave Hurst of State Farm, the nation’s largest auto-insurance. “There are major differences in insurance rates and complete a portion of them is geographically to understand. Furthermore, like many of the car is worth, has much to do.

It is too early to say whether the North Dakota floods’s probably a disaster in the region auto insurance rates, insurers tend to set their prices based on a regional history over several years.

But trends flight showed that man to pay the full insurance.

For example, a residence in Miami with a good car able to reassure on th point of a comprehensive strategy for a 1997 Ford Taurus or Honda Accord for $ 278 a year with State Farm.

In comparison, Lima, Ohio, a Top Five city at least up to noncollision insurance, had an average loss of $ 36 per insured vehicle. A residence in Lima with a good round of global insurance a State Farm Agreement for a 1997 Taurus or $ 62 per fifth of the cost of residence in Miami.

Saying the police and insurance companies with major port cities, including Miami and New York, are vulnerable to car theft, because vehicles are stolen more and more to overseas. The stolen cars for shipment are generally more expensive luxury vehicles, while prices on the Mexican border, another Hot Spot, are usually, Sport Utility Vehicles, or pick-up, officials say.

“There is a flight model of geographical losses under the Port-cities. Movements of vehicles stolen in this drift development overseas,” said Kim Hazel Baker, Senior Vice President of the Highway Loss Data Institute .

Twenty years ago, more than 90 percent of cars have been stolen by the authorities, “said Ed Fisher at the National Insurance Crime Bureau. Now, third - or about 450000 vehicles - disappear permanently and up to half are sent by ship to Europe, Latin America, the Middle East or elsewhere, officials said.

Only 1 percent of stolen cars overseas are caught on to the port, U.S. Customs officials said. Most are confiscated at the ports of Newark, Miami, Jacksonville and Port Everglades, Florida and Los Angeles-Long Beach.