By: Madhu Bolagani July,17,2018

A Raltin analysis of the 2016 NAIC Annual Report reveals that married female drivers aged 25-65 years pay the lowest median rate of $910 in Florence city, South Carolina. The highest median rate, on the other hand, is $3,199 and paid by single female drivers aged 25-65 years. According to the report, the four companies with the highest market share are State Farm Automobile Insurance Company, Allstate Fire and Casualty Insurance Company, State Farm Fire and Casualty Company, and Nationwide Affinity Insurance Company of America.

The following table lists the 10 driver cohorts, median premium rate for each cohort, and premiums charged by companies with the highest market share in Florence city, South Carolina.

CohortMedianState Farm Mutual Automobile Insurance CompanyAllstate Fire and Casualty Insurance CompanyState Farm Fire and Casualty CompanyNationwide Affinity Insurance Company of America
Single male drivers aged 25-65 years$1,002$308 < median$373 < median$118 < median$130 < median
Married female drivers aged 25-65 years$910$216 < median$334 < median$26 < median$110 < median
Married female drivers under 25 years$2,079$875 < median$835 < median$566 < median$483 < median
Married male drivers aged 25-65 years$936$242 < median$360 < median$52 < median$120 < median
Single female drivers aged 25-65 years$994$300 < median$383 < median$110 < median$138 < median
Married male drivers under 25 years$2,497$895 < median$1,203 < median$494 < median$166 < median
Single male drivers under 25 years$3,199$891 < median$1,692 < median$325 < median$44 < median
Single female drivers under 25 years$2,672$868 < median$1,419 < median$420 < median$229 < median

State Mutual Automobile Insurance Company offers the lowest premium at $895 less than the median for married male drivers under 25 years. Its highest premium is $216 less than the median and for married female drivers aged 25-65 years.

Allstate Fire and Casualty Insurance Company offers the cheapest premiums at $1,692 less than the median to single male drivers aged 25-65 years. It’s most expensive premium rate is $334 greater than the median and offered to married female drivers aged 25-65 years.

State Farm Fire and Casualty Company’s most expensive premium rate is $26 less than the median and for married female drivers aged 25-65 years. The cheapest rate it offers is $494 less than the median and offered to married male drivers under 25 years.

Nationwide Affinity Insurance Company of America offers the highest premium among the four companies at $44 less than the median, which is for single male drivers aged 25 years. Its cheapest premium is $483 less than the median for married females under 25 years.

The following chart compares the car insurance premium rates by the four companies with the highest market share in Florence, South Carolina.

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ABOUT THE AUTHOR

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Madhu Bolagani

Madhu is a data analyst and engineer at Raltin. His writings are driven by deep data mining and connecting the dots. His areas of expertise include finance, insurance and investing.

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