This is as cheap as insurance gets
The 1997 Ford Taurus was never an exciting vehicle, and now it is an old and tired one. Worth perhaps $2,500 but still ubiquitous (Polk says there are 242,390 still on the road), it is the choice of someone who has no choice.
Yet even this vehicle -- or any similar no-frills ride-- represents a huge expense for the 4 million or so Americans working a minimum-wage job.
Minimum-wage workers tend to be young. Half of them are under 25, according to the U.S. Department of Labor. We priced basic state-minimum auto insurance quotes from coast to coast on that proverbial Taurus, driven by a 24-year-old male with no tickets and good credit.
In Springfield, Ill., he would have to work 55 hours at that state's $8 minimum wage to pay a year's worth of the state's minimum liability coverage on his beater car. In Austin, Texas, 87 hours.
And in Albany, N.Y., Trenton, N.J., or Hartford, Conn., he would have to work more than a month of minimum-wage hours to buy the lowest amount of car insurance required.
CarInsurance.com looked at bare-minimum policies for a young driver in each state's capital. Unless you're 24, male, a resident of the particular addresses we used and proud owner of a 1997 Taurus, your quotes probably won't match ours, which are only a snapshot of the rates available through our quote-comparison engine .
They are, however, a good indicator of the financial hurdle confronting any young driver who depends on his own car to commute to school or work.
What a 24-year-old pays for state-minimum liability
+ New Hampshire drivers must show proof of financial responsibility in the event of an accidentNo shortcuts: It's the law
The federal minimum wage is $7.25 an hour, though many states set their own higher and a few go as low as $5.15.
Keeping even an old beater on the road anywhere will consume a large amount of that bare-bones income. Gasoline is a big expense, but ultimately a controllable one: You can walk, take the bus, combine your trips, or carpool.
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He's reduced his driving in his Ford Ranger truck and PT Cruiser by more than half to get a cheaper rate on his auto insurance. For recreation, Stell said he used to ride his Harley Davidson Electra Glide motorcycle about 15000 miles a year.
There are no deductibles on liability insurance. The cost of liability insurance has more to do with the driver than the car. (The insurance company isn't going to fix your car, just the person's you hit.) In your search for affordable auto insurance
Barlow, who has worked as a delivery truck driver, said he has been looking for a job for the past eight months. Buy Photo BANGOR, Maine — The latest data from the US Census Bureau confirm that more Mainers were unemployed or underemployed,
In Maine, there is a bridge that is in such bad shape that pieces of it were literally falling off the other day. And, meanwhile, we've got millions of laid-off construction workers who could right now be busy rebuilding roads, rebuilding bridges,
Because of the range of laws governing auto insurance, some states feel the impact more than others. For example, the rate in West Virginia is lower than the national average at 11 percent. But Tri-State drivers can't take much comfort in that because
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