NYS ranks high in costly auto insurance

New York State is among the top five most expensive states for car insurance, according to a recent online "affordability index" that compares income to the cost of accident coverage.

New York placed fifth in the ranking of the 50 states and the District of Columbia, with costs averaging nearly 5 percent of median income.

Only Louisiana, Oklahoma, Missouri and Washington, D.C., were more expensive.

The listing was prepared by InsWeb, an Internet site that provides comparative car insurance quotes.

The ranking divides each state's median car insurance rate by its median household income.

"The lower the factor, the less a typical family in that state tends to spend on car insurance relative to its budget," InsWeb said.

Massachusetts is the most affordable state while Louisiana is the least.

The 10 most affordable states and their Affordability Factor:
1. Massachusetts 1.84%
2. New Hampshire 2.23%
3. Vermont 2.39%
4. Minnesota 2.39%
5. Utah 2.43%
6. Nebraska 2.43%
7. Hawaii 2.44%
8. Indiana 2.45%
9. North Carolina 2.52%
10.Virginia 2.53%

The 10 least affordable states and their Affordability Factor:
1. Louisiana 6.93%
2. Oklahoma 4.94%
3. Missouri 4.86%
4. Washington, D.C. 4.77%
5. New York 4.54%
6. West Virginia 4.51%
7. New Mexico 4.37%
8. Kentucky 4.27%
9. Arizona 4.14%
10. Florida 4.10%