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Auto Insurance Low in Ohio

 
Posted August 12th, 2014 @ 10:15am

Ohio is one of the cheapest states to own a vehicle, according to a report from Bankrate.com.

Researchers looked at things like the annual cost of gasoline, insurance, and vehicle repairs. They found Ohioans pay an average of $1,973.

"The average driver in the U.S. is going to spend $2,223 on their car," said Stacy Jones with Bankrate.com.

She credited Ohio's low insurance rates as being one of the driving factors. Ohio's average insurance premium was $698. Compare that to Louisiana where the average premium will run you $1,277.

"We found that when we're looking at the car costs and where each of the states fall on the list it usually tends to track pretty close with cost of living," Jones said.

In Wyoming, a typical driver spends $2,705 per year to operate a vehicle. That's highest in the nation. While Wyoming has below-average costs for car repairs, gas prices and insurance, drivers in this state drive 68% more than the typical driver and therefore spend $1,588 per year on gas - more than anywhere else in the country.

Drivers in Iowa, the only state cheaper than Ohio, spend just $1,942 per year to have a vehicle. Like Ohio, one of the biggest factors is insurance rates. 

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