The average cost of car insurance is about $2,500 a month for a single driver and $3,000 for two drivers. Insurance prices are different for everyone and many factors will contribute to individual car insurance rates. The average rate is based on the fact that drivers 65 and older have the highest insurance premiums of any age group in the United States, according to the Insurance Institute for Highway Safety. Every driver in the United States spends more than $1,200 a month on the cost of insurance for his car, making it one of the most expensive forms of insurance for the average driver. [Sources: 6]
With so many individual factors underpinning car insurance rates, it can be difficult to predict what a particular person will pay for car insurance. You need to get a quote for your car insurance premium based on all this information to find the right policy for you, but you can find out how much your policy will cost by using our car insurance calculator. [Sources: 5, 6]
Your car insurance premium is calculated on the basis of the type of car you drive, the age of your car, your insurance cover and other factors such as the number of accidents you are in and your age. [Sources: 5]
Check out our sample car insurance policies to see how much the average driver could pay based on factors such as age and gender. Younger drivers are often considered more risky by insurance companies because they have little experience of driving. This tends to be more expensive than older drivers because younger drivers have higher insurance costs because of their higher premiums. [Sources: 3, 5]
According to NerdWallet, the average car insurance premium for a two-door sedan in the US is about $2,000 a year, compared with $1,500 in 2014, according to the Insurance Institute for Highway Safety. [Sources: 3]
Motorists in Hawaii and North Carolina can expect to pay less than the national average, while an 18-year-old living in Louisiana or Michigan can pay more: while drivers in Hawaii and South Carolina, drivers in Florida and Florida, and drivers in New York and New Jersey can pay less, but not as much as the national average. [Sources: 3]
If you are still wondering how much your car insurance will be for the year, navigate this page to find out how much the policy will cost. This is the national average, but the average annual car insurance rate varies according to driving history, location, age and other factors. [Sources: 4]
Since car insurance depends on many different factors, you may want to know how much car insurance costs. The following is a breakdown of the average annual cost of car insurance in the US: [Sources: 2, 4]
According to a report by the National Association of Insurance Commissioners, the average cost of auto insurance in the year is $1,133. According to a study conducted by Business Insider, the average cost of auto insurance in America is about $2,388 a year, or $199 a month, according to the Insurance Institute for Highway Safety (IHS) and the Consumer Financial Protection Bureau (CFPB). This is the second highest average annual cost in the United States, behind New York City. [Sources: 1, 2]
Your driving history, the type of insurance you want coverage for, and other factors will be factored into your premium. [Sources: 1]
For comprehensive insurance, the average cost of auto insurance is $147 a month, or $1,758 a year. With a good credit rating and clean driving, the interest rates will depend on whether you take out comprehensive insurance. For example, a driver in New York pays between $1,352 and $2,752 per year for insurance, while a driver in California pays between $987 and $3,815 per year. [Sources: 0, 1]
Car insurance prices vary based on the 50 states you live in, so enter your state to see the average car insurance rate for that state. [Sources: 0, 6]
On the other hand, some states can offer the cheapest car insurance per month on average because they require the lowest minimum coverage. There are states that have a higher minimum level of civil liability protection than other states, and the higher this is, the more drivers must have more civil liability protection. [Sources: 6]
Don’t forget about cheap car insurance if you change your cover and are looking for a discount. Most insurance companies offer discounts for safe driving by bundling insurance policies with other types of insurance, such as driving licenses or car rental insurance. [Sources: 5]
The average cost of car insurance is an important factor that every driver should consider. The main factors that come into a car insurance cost are the city you live in, how far you drive, and the type of car you drive. These are just some of the factors on this page that need to be addressed, but they are all important factors for drivers. [Sources: 4, 5]
Below you will find data that answers this question in detail, as well as many other questions from our research to answer your questions. [Sources: 4]
Sources:
- https://www.insure.com/car-insurance/auto-insurance-for-39-dollars-a-month.html 0
- https://www.businessinsider.com/personal-finance/average-cost-of-car-insurance 1
- https://millennialmoney.com/average-car-insurance-cost/ 2
- https://usanewswall.com/news/automobile/car-insurance-for-18-year-old-drivers-what-you-need-to-know/ 3
- https://www.insuranks.com/how-much-does-car-insurance-cost-per-month-on-average 4
- https://www.policygenius.com/auto-insurance/learn/how-much-is-car-insurance/ 5
- https://www.thehartford.com/aarp/car-insurance/car-insurance-per-month 6