When accounting for health, home, life and car insurance it can account for a significant portion of the budget. According to the NerdWallet Study it this category can account for around 12% of yearly income.
But depending on where you live insurance cost can vary and be less or more expensive for this category.
These are the most costly states for insurance costs:
10.Mississippi 9. Michigan 8. Massachusetts 7. Oklahoma 6.Vermont 5. New Jersey 4. Rhode Island 3. Florida 2. New York 1. Louisiana
These are the least expensive states for insurance costs:
15. Nevada 14, Illinois 13. Arizona 12. Idaho 11. Colorado 10. Pennsylvania 9.Oregon 8.Georgia 7. California 6. Washington 5. Ohio 4.Virginia 3. Washington D.C. 2. Utah 1.Maryland