A New Article Posted on the Insurance Panda Website Explains Why Philadelphia is Such an Expensive City when it Comes to Auto Insurance
NEW YORK, NY / ACCESSWIRE / August 24, 2020 / The founders of Insurance Panda, a New York City-based auto insurance quotes provider, are pleased to announce that they have just posted a new article to the website that examines why Philadelphia car insurance is so expensive.
To read the new article, which is titled "Why is Auto Insurance So Expensive in Philadelphia?" in its entirety, please visit https://www.insurancepanda.com/faq/why-is-auto-insurance-so-expensive-in-philadelphia/.
As the article pointed out, the state of Pennsylvania actually has one of the lowest rates for car insurance in the entire country. However, the story is quite different for drivers who live in the City of Brotherly Love and are needing to buy Philly car insurance.
While the average driver in Pennsylvania pays around $1,200 to $1,350 annually for their auto insurance, drivers in Philadelphia pay as much as $4,000 to $5,000 each year.
As for why this is the case, the article notes that in general, larger cities have more people than small towns. This means that there are more cars on the road.
"More density means higher claims rates, which means higher insurance premiums for drivers in Philadelphia," the article noted, adding that overall, big cities also tend to have higher crime rates and more accidents.
In addition, there are certain factors that are specific to Philly that explain why the city's car insurance rates tend to be so high. For example, while all cities have their share of traffic, Philadelphia is especially bad.
"Drivers in the suburbs and exurbs commute long distances into the city center, leading to traffic jams across the Philadelphia metropolitan area," the article noted, adding that traffic and lengthy rush hours are associated with higher rates of accidents and claims, and that means higher risk for insurance companies - and higher premiums for drivers.
Philadelphia also has higher rates of uninsured drivers than other parts of the state. Unfortunately, this means that thousands of drivers have no car insurance at all, and insurance companies have to bear these costs.
About Insurance Panda:
Insurance Panda is an auto insurance quotes provider based out of New York City. In business since 2012, Insurance Panda has provided more than one million free auto insurance quotes to American drivers. Please visit https://www.insurancepanda.com for a free insurance quote today.
SOURCE: Insurance Panda
View source version on accesswire.com: