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Many Drivers Being Impacted By High Gas And Insurance Costs

The economy in the United States leaves a lot to be desired for many drivers right now. Many men and women live paycheck to paycheck which means that they need to minimize their car related expenses. One problem many drivers face is the rising cost of gas. Most states charge more than $3.00 per gallon for gasoline. With drivers needing to drive to get to work and run errands, there is a lot of pain at the pump right now.

The state with the drivers that are having the most trouble paying their gas and car insurance expenses is Mississippi.

This is a state that is in the south so many people live in rural areas so they will most often not use forms of public transportation and will have to travel more miles to get to where they are going. A new report has found that drivers there will pay approximately $4,300 for their gas and car insurance bills.

Household incomes in the state are low also which means that many drivers will decide to take the risk and drive while uninsured. When a driver pays more than eleven percent of their household income on gas and insurance alone it can become a burden. The state should consider creating a program to help drivers stay insured. The median income for drivers is under $37,000 so creating an assistance program could help thousands of drivers.

Other states are finding themselves in a similar predicament. In the state of Oklahoma, drivers on average will pay $4,816 for gas and insurance. This is approximately 10.7 percent of a driver’s household income. Most households in the state make around $45,000 per year so they are slightly ahead of Mississippi when it comes to the overall household income and the percentage of income that goes towards these expenses.
Louisiana is ranked number three with expenses averaging $4.504.

Drivers on average will pay 10.5% of their household incomes for gas and insurance coverage and the average household income is currently $42,813. It is very important for drivers in these three states to try to find themselves affordable car insurance coverage. Gas prices are typically high across the board right now so finding cheap gas is almost impossible.

Buying a fuel efficient car that has great crash test ratings can help reduce fuel and insurance costs at the same time. Driving less will not only save you gas but, it will also reduce you insurance premiums according to MoneyCrasher.com.

It is a good idea for drivers to sit down with a car insurance agent and ask for assistance with finding a cheap insurance plan based on your household income. Insurance agents should be able to steer you in the right direction so that you can create an insurance policy that has all of the features that will give you value for your money in these tough times. For a list of potential ways to save on your insurance click here.