We know our area is expensive when it comes to housing, private schools, fancy coffee and designer ice cream. Now you have proof that your auto insurance bill should be added to that list.
According to a story in the LA Times earlier this week:
CarInsurance.com commissioned the survey of 33,410 ZIP Codes around the country, using insurance rates provided by Allstate, Farmers, Geico, Nationwide, Progressive and State Farm. They found the national average cost of insuring that Accord, with a policy for a 40-year-old male driver who opts for a standard policy and a $500 collision deductible, was $1,231.
CarInsurance.com ranks 90029 as the 6th most expensive zip code for car insurance in the nation at an average of $2,416 annually. 90029 covers an area of East Hollywood, north east of Larchmont. Here is how the Greater Wilshire Neighborhood Council Zip Codes stack up against the Top 10.
- 90004 – $2,332
- 90005 – $2,388
- 90010 – $2,402
- 90018 – $2,264
- 90019 – $2,285
- 90020 – $2,403
- 90036 – $2,260
The bold zip codes all rank as more expensive than the next most expensive zip code on the list. So consider your zip code tied for #6 most expensive zip in the nation.
The website LAist.com sums up the reasons for the big bill…
If you’re wondering why the premiums are so high in these areas, it has to do with the number of insurance claims and the severity of the claims made in those neighborhoods, as well as how often car crashes, thefts, and vandalism occur in those ZIP codes.
LA Times – The 10 Worst Zip Codes for Car Insurance