Auto insurance rates are rising. And they are rising even more for North Texas residents.
The 2022 State of Auto Insurance Report from insurance comparison site, The Zebra, indicates that in the last year rates are up 3% nationally, and 5% for the DFW area.
But why?
"As drivers returned to the roads and drove more as pandemic shutdowns eased, more accidents on the roads and an increase in car thefts played a key role in rising national rates," says Nicole Beck, Head of Communications and spokesperson at The Zebra.
Beck also says the rising cost of vehicles, due to the chip shortage, is a contributing factor.
North Texans are paying an average of $1,587 a year for car insurance premiums. Only Houstonians ($1,685), who live in a hurricane-prone region, pay more in major metro areas. San Antonio residents come in at $1,560 and Austin residents are paying $1,546 on average.
North Texas Drivers in the following zip codes pay the most for car insurance:
75227 (East Dallas) - $1,979
75215 (South Dallas) - $1,958
75216 (Southeast Oak Cliff) - $1,948
75210 (South Dallas) - $1,945
75241 (Southeast Dallas) - $1,943
While Texans do pay more on average ($1,584) than the national average ($1,529), we should count ourselves lucky.
Louisiana is the most expensive state for car insurance premiums, $3,265 on average. And if you live in New Orleans, you pay a whopping $3,532.
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