• About
  • Credit Card Basics
  • Mortgage Basics
  • $40K Challenge
  • Aunt Doris
  • Grandfather Says
  • Privacy
  • Archives
  • Insiders

Len Penzo dot Com

The offbeat personal finance blog for responsible people.

10 States Where You Can’t Afford to Get Into a Car Accident

By Len Penzo

car crash 2Who doesn’t love getting behind the wheel of a car every once in a while and just drive for the sake of driving? Cars provide a sense of freedom that other modes of transportation can’t.

Then again, nothing can put a damper on the joys of driving faster than an accident on the highway — whether it’s your fault or the unintended work of somebody else.

The truth is, a car accident of some kind will happen to most of us at least once in our lives.

With gasoline prices at their lowest point in six years and favorable interest rates still driving auto sales, my friends at WalletHub decided to conduct an in-depth analysis on the cost impacts of risk on drivers’ wallets, based upon where you live.

To do this, WalletHub ranked the 50 states and the District of Columbia in terms of several risk factors including the minimum coverage requirements for the mandatory forms of auto insurance, and the percentage of uninsured drivers. They then used those factors to come up with a an overall risk ranking.

Here is a summary of the top- and bottom-ranked states:

Car Ownership Rates by State

Based upon their analysis, WalletHub notes the following key findings:

  • Somewhat surprisingly, WalletHub found no correlation between liability insurance requirements and the percentage of drivers without insurance in that state.
  • The worst place to have an accident is Florida. Despite having some of the lowest insurance requirements of any state, 23.8% of Florida drivers have no insurance at all.
  • Maine is at the other end of the spectrum. Only 4.7% of Maine drivers are uninsured. The Pine Tree State also requires drivers to carry medical payments and uninsured motorist protection, as well as $50,000/$100,000/$25,000 liability insurance.
  • Only 3.9% of Massachusetts drivers are uninsured; that’s the lowest rate in the US. On the other hand, an estimated 25.9% of all Oklahoma drivers have no insurance.

Say … You don’t think most people who retire in Florida come from the Sooner State, do you?

Hey, it’s just a thought.

Photo Credit: JJ_the_Jester

Related Posts:
  • 10 Things That Today’s Middle Class Can No Longer Afford10 Things That Today’s Middle Class Can No Longer Afford
  • How Much Can I Afford to Borrow for a New Home?How Much Can I Afford to Borrow for a New Home?
  • How Do I Determine the Biggest Monthly Payment That I Can Afford?How Do I Determine the Biggest Monthly Payment That I Can Afford?

8 Comments February 17, 2015

Comments

  1. 1

    Clarisse @ Make Money Your Way says

    Oh, that’s totally crazy, driving without an insurance?! My aunt is currently living in Florida but I didn’t know about that.

    Reply
  2. 2

    David C. says

    I am not surprised at our poor ranking here in the Sooner State. Most folks around here seem to think mandatory auto insurance is merely a suggestion rather than the law. You almost want to ask for hazard pay for the commute into work, what with all of the uninsured motorists, drunk drivers, meth heads driving stolen cars and the general asshattery of those who text while driving.

    Dang, I have become my grandfather a few years earlier than I hoped. LOL

    Reply
  3. 3

    Jestep says

    I do find the mix of very different political leaning states in the lists interesting.

    We got rear ended in California a few years ago and it might have well been a 3rd world country. Police refused to show up at the accident because nobody was injured even though the other driver was uninsured. Lucky for us, her car wasn’t drivable, otherwise I’m certain she would have taken off. She ended up going to a shop with us for an estimate and paying us in cash on the spot. Was a totally crazy morning and just by dumb luck it worked out for us.

    Reply
  4. 4

    Jayson says

    I at least feel lucky that I don’t live in those states. I can’t imagine if I could afford it just in care I got into a car accident. Yay

    Reply
  5. 5

    How to Save Money says

    Interesting facts. I can’t imagine driving w/o insurance!

    Reply
  6. 6

    Karen says

    This appears to be percentage of licensed drivers without insurance. If you add in the illegal aliens who drive without licenses the numbers are much higher. You’ve got to take responsibility for them (once again!) by buying “uninsured motorist” and “under insured motorist” coverage for your own policy.

    Reply
  7. 7

    Crystal says

    I’m in Texas, which isn’t on either list. That is what I suspected. We have a bunch of uninsured motorists here too though. 🙁

    Reply
    • 8

      Len Penzo says

      Yeah, but there is a lot of wide-open highway, Crystal. I’d think that would mean less accidents!

      Reply

Leave a Reply to Jestep Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Question of the Week:

How old were you when you bought your first home?

View Results

Loading ... Loading ...

Recent Posts

  • Grandfather Says: Run, Run, Rudolph!
  • Great Tips and Strategies for Successful Mortgage Refinancing
  • 14 Kitchen Hacks for People Who Can’t Cook
  • How Much Gold and Silver Should People Own?
  • Black Coffee: Smiling Faces and Reassuring Voices
  • Expecting the Unexpected: Managing Finances When You Become Disabled
  • 100 Words On: Why Buying in Bulk Is Not Always a Smart Idea
  • The Importance of Creating Professional Invoices for Your Business
  • 7 Basic Financial Goals Everyone Should Strive For
  • 10 Key Characteristics of Debt-Free People

Disclaimer

This site is for informational and entertainment purposes only, and the content herein should not be mistaken for professional financial advice. This website accepts advertising in the form of monetary and other compensation; as such, topics of discussion are occasionally influenced by these advertisers. Occasionally, some articles may also include affiliate links, meaning, at no additional cost to you, this blog earns a commission if you click through and make a purchase (for example, as an Amazon Associate I earn from qualifying purchases). Remember, you and you alone are responsible for the decisions you make in life, so please contact an independent financial professional for advice regarding your unique personal situation.

Popular Now:

  1. 1. Sneaky Pizza Delivery Fees Are Here to Stay (and Why It’s Your Fault)
  2. 2. Debt Elimination: The Pros and Cons of Dave Ramsey’s Baby Steps
  3. 3. Drop the Guilt: How to Splurge Without Beaking the Bank
  4. 4. How to Find a Low-Priced Plumber Who Won’t Rip You Off
  5. 5. 11 Retirement Saving Tips for Twentysomethings (& Older Folks Too!)
  6. 6. 16 Extreme Ways to Increase Your Monthly Savings
  7. 7. Why I Prefer a Spreadsheet to Track Expenses and Manage My Finances
  8. 8. The 13 Most Important Items to Keep In a Fireproof Safe
  9. 9. Be Careful, Priceline Users: Name a Wrong Price and You May End Up in Jail
  10. 10. Len Penzo dot Com: Celebrating 10 Years and 10 Million Page Views!

All-Time Most Popular:

  1. 1. 19 Things Your Suburban Millionaire Neighbor Won’t Tell You
  2. 2. Dear Friend: Here Are 41 Reasons Why I’m NOT Lending You the Money
  3. 3. Why Your Expensive Luxury Car Doesn’t Impress Smart People
  4. 4. If You Can’t Live on $40,000 Annually It’s Your Own Fault
  5. 5. 21 Reasons Why Corner Lots Are for Suckers
  6. 6. 4 Smart Reasons Why College Isn’t for Everyone
  7. 7. 18 Fast Facts About Social Security Numbers
  8. 8. My Ketchup Taste Test: Upset! Guess Which Brand Topped Heinz
  9. 9. Why I Prefer a Spreadsheet to Track Expenses and Manage My Finances
  10. 10. Here’s a Simple Trick for Getting Credit Card Interest Charges Waived

Copyright © 2019 Len Penzo dot Com · All Rights Reserved · Designed by Nuts and Bolts Media

Copyright © 2019 · Penzo on Genesis Framework · WordPress · Log in