The Costliest States for Car Owners in 2024: Study Reveals
A recent study conducted by The Barnes Firm examined all 50 states to identify the most expensive states for car owners. The states are ranked by a composite score, based on insurance prices, gas money, repairs, and the average speeding fine for each state.
| States | Average annual full insurance coverage | Average annual minimum insurance coverage | Average money spent on gas | Average cost of repairs | Average speeding fine | Composite score out of 100 |
| New York | $3,672 | $1,585 | $2,531 | $417 | $300 | 93.19 |
| Nevada | $3,004 | $962 | $2,940 | $429 | $705 | 85.89 |
| Florida | $3,462 | $1,091 | $2,175 | $427 | $226 | 81.65 |
| Louisiana | $3,623 | $961 | $1,977 | $419 | $175 | 79.93 |
| California | $2,633 | $645 | $3,431 | $448 | $35 | 78.18 |
| Michigan | $2,933 | $916 | $2,257 | $384 | $130 | 72.99 |
| Rhode Island | $2,698 | $832 | $2,355 | $417 | $225 | 71.24 |
| Connecticut | $2,506 | $976 | $2,408 | $451 | $62 | 69.93 |
| Arizona | $2,543 | $758 | $2,425 | $419 | $250 | 69.47 |
| Alaska | $2,405 | $518 | $2,774 | $417 | $300 | 69.19 |
The most expensive state for car owners is New York with a composite score of 93.19. It offers the highest insurance prices at $3,672 and $1,585, and its speeding fine of $300 is among the top three most expensive fines. It’s one of the three states that offer the same repair price of $417, which is average among all the states. All of the costs are high, especially the insurance and fines.
Nevada is the second most expensive state to own a car, with a composite score of 85.89. It has the highest speeding fine of $705 out of all the 50 states. Car ownership costs can be significantly lowered if one does not exceed the speed limit.
Florida holds third place in the ranking with a composite score of 81.65. It’s the last state on the list to pass the $1,000 mark for minimum insurance coverage. Its average fine is $226, around $500 lower than Nevada’s. The price for full insurance impacts this state’s ranking. The $1,300 gap between full and minimum coverage gives drivers many options for insuring their vehicle.
Louisiana takes fourth place in the ranking with a composite score of 79.93. This state offers a high full insurance price of $3,623. Despite that, it has the lowest gas prices in the ranking. The minimum insurance is around 1.6 times less than New York’s $1,585.
California takes fifth place with a composite score of 78.18 and the second-highest cost of repairs at $448. With a reasonably low full insurance coverage price of $2,633 and the lowest speeding fine of $35, California is by far the best state for car maintenance. The minimum insurance price of $625 is around $900 less than what New York offers.
Michigan holds the sixth position with a composite score of 72.99. It has the lowest cost of repairs in this ranking at $384, making it the only state with repair costs below $400. The speeding fine of $130 is almost four times more than California’s.
Rhode Island takes seventh place with a composite score of 71.24. This state has the fourth-highest average speeding fine of $225, which is around 1.7 times more than Michigan’s $130. This is the biggest difference between these two states.
Connecticut is the eighth most expensive state for car owners. With a composite score of 69.93, it offers the highest price for car repairs at $451. The state’s minimum insurance coverage of $976 is the closest to the $1,000 mark.
Arizona takes ninth place with a score of 69.47. The repair price of $419 is closer to that of Alaska, Rhode Island, and Louisiana. With its average speeding fine of $250, it falls right behind New York’s and Alaska’s fines of $300.
Alaska holds the tenth place with a composite score of 69.19. Its placement in this ranking is mainly based on the high fines of $300 and gas spending of $2,774. Although it offers the lowest insurance costs on the list at $518, it is still costly compared to the national level for minimum insurance coverage benefits.
A spokesperson at The Barnes Firm commented on the study “The costs of car ownership can be significantly lowered if the legality of the fines is challenged. The same goes for insurance and repair costs. If one’s car gets damaged without their fault, the guilty party must take care of the repairs.”