Missourians pay less than the national average for full coverage automobile insurance according to a recently released report from the National Association of Insurance Commissioners (NAIC).
Full coverage includes liability, collision, comprehensive, uninsured motorist; however, only liability and uninsured motorist is required by law in Missouri.
The report said that the annual cost in Missouri for full coverage per year for one vehicle was $926, which placed Missouri below the national average of $1,062 and ranked the state 29th nationally. The cost of purchasing only liability and uninsured motorist coverage was $445.
“Missouri has a very competitive automobile insurance market and Missouri consumers should shop around to make sure they are getting the best deal possible,” said Chlora Lindley-Myers, Director of the Missouri Department of Insurance, Financial Institutions and Professional Registration.
The full report can be found here.