How Much Full Coverage Car Insurance Cost

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The average cost of car insurance is $2,008 per year for full coverage, but personal factors like your age, car and driving history can affect what you pay.

How Much Full Coverage Car Insurance Cost

Written by: Daniel Robinson Written by: Daniel Robinson The Writer Daniel is a team writer for Guides and has written for numerous automotive news sites and marketing companies across the US. Daniel is an authority on the Guides team for auto insurance, loans, warranty options, auto services and more.

How To Estimate Car Insurance Cost Before Buying A Car

Edited by: Rashawn Mitchner Edited by: Rashawn Mitchner Managing Editor Rashawn Mitchner is a Guide team editor with over 10 years of experience covering personal finance and insurance topics.

Reviewed by: Mark Friedlander Reviewed by: Mark Friedlander Advisor Mark Friedlander is director, corporate communications, at the Insurance Information Institute (Triple-I), a New York-based nonprofit research and education organization focused on providing consumers with a better understanding of insurance. Mark serves as the national spokesperson for Triple-I, handling many media issues in the insurance industry. His responsibilities also include leading the association’s storm communications strategy and the company’s member support and media outreach in Florida, where he is based.

What is the average cost of car insurance in the United States? In this article, we at the Guides team will explain the average cost of car insurance by state and how to keep your rates low. We also recommend three of the best car insurance companies to consider in the sections below.

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How Is Car Insurance Premium Calculated?

The Guides team is committed to providing reliable information to help you make the best decision about insuring your car. Because consumers trust us to provide objective and accurate information, we have developed a comprehensive rating system to form our rankings of the best auto insurance companies. We collect data on dozens of auto insurance providers to rate these companies on a wide range of ranking factors. After 800 hours of research, the result is an overall rating for each provider, with insurers scoring the most points on the list.

The average cost of full-coverage insurance is $2,008 per year or $167 per month, while minimum liability coverage averages $627 per year or $52 per month. However, what you pay for auto insurance coverage will vary based on your personal rating factors. This is because insurers consider factors such as your location, driver profile, vehicle and desired coverage when calculating premiums.

There are good reasons for the wide price difference between full coverage car insurance and minimum liability coverage. Liability insurance has two components: bodily injury and property damage. It is required in most states and covers injuries to other drivers and damage to the vehicle if it causes an accident.

Full coverage car insurance goes beyond the state-minimum coverage by adding collision and comprehensive liability protection coverage. Collision coverage pays for damage to your car regardless of who caused an accident. Comprehensive coverage protects your vehicle against damage from natural disasters, theft, fire and vandalism.

Visualizing Auto Insurance Rate By State In 2020

All states set their own auto insurance regulations and requirements. Factors such as driving condition also vary by state, which can affect the cost of car insurance.

We’ve collected the average cost of car insurance from Quadrant Information Services to give you an idea of ​​what drivers in each state pay for the average annual premium. The cost of auto coverage varies by state due to a variety of factors, including the frequency of accidents and claims. The cost of parts and labor can also lead to higher prices in one part of a state compared to another.

The cost estimates in the table below include estimates for minimum coverage and full coverage car insurance for a 35-year-old driver with good credit and a clean driving record.

The best way to see how much auto insurance will cost for your car is to compare free quotes from providers in your state.

How Age Affects Rates: How Insurance Coverage Varies For New And Used Cars

Age is one of the most important factors in setting car insurance rates. Teen drivers and those in their early 20s can pay thousands more per year than people with more experience behind the wheel. This is because young drivers are more likely to be involved in car accidents. Insurance companies charge higher premiums to help offset the risk of insuring inexperienced motorists who are more likely to exhibit risky behaviors behind the wheel.

The cost of car insurance also varies depending on your provider. Here are some national and regional companies that offer rates lower than the national average for full auto insurance:

USAA usually offers low rates on car insurance in all regions of the US. Erie Insurance is another affordable option if you live in one of the 12 states (and Washington DC) served by the company.

Auto insurers must weigh the risk factors of each driver’s record. If you have one or more speeding tickets, at-fault accidents or other violations in your driving history, you will pay higher premiums than those with clean records over the years. Here’s a look at how the average rates for 35-year-olds change when they commit driving violations:

Average Cost Of Car Insurance (2024)

Each car insurance company weighs risk factors differently. The following sections provide rate estimates for various driver profiles from leading insurers.

Having a recent accident on your record usually leads to higher auto coverage rates for at least three years. State Farm and Erie Insurance offer the lowest average rates for these drivers.

Speeding can also lead to higher car insurance premiums for at least three years. Here are some common charges for drivers with recent speeding violations 16-20 mph over the limit. Erie Insurance and USAA lead the way with the cheapest rates.

As you might expect, a DUI offense significantly raises car insurance rates for at least three years. State Farm has the lowest rates for drivers with a recent DUI, with Erie Insurance, USAA and Progressive close behind.

Cheapest Car Insurance In Georgia (april 2024)

The type of car you drive plays an important role in determining your car insurance rates. The cost of replacement parts and repairs, the likelihood of accidents and the vehicle’s safety features all contribute to how much you pay for auto coverage. Here are some types of vehicles that are more expensive to insure:

Cheaper, standard-sized cars with modern safety features are usually the cheapest to insure. As a bonus, features like anti-lock brakes, anti-theft systems and passive restraint systems can even get you an extra discount from some insurers.

The cost of car insurance is determined based on many factors. How badly each factor affects your total premium can vary from provider to provider, so it’s important to compare average car insurance rates from multiple insurers.

The table below contains the main factors that usually determine the price you will pay for auto insurance:

Full Coverage Car Insurance Cost In 2024

Drivers typically see the highest rates between the ages of 16 and 25. Rates gradually decrease and see a slight increase again around 65.

Insurers can set rates based on your gender, except in the states of California, Hawaii, Massachusetts, Michigan, Montana, North Carolina and Pennsylvania, where insurers are prohibited from using gender as a rate factor.

Drivers with good credit are often offered lower rates. In California, Hawaii, Massachusetts, Michigan and New Jersey, insurers are not allowed to set rates based on credit scores.

Your city and state affect the cost of your car insurance premium. If you live in an area with a high rate of accidents or theft, you may see higher insurance rates.

Annual Car Insurance: How Much Does Car Insurance Cost?

If your car model has a high rate of theft or crashes – such as many sports cars – your insurance premium may be higher. The value of your car is also used to determine the cost of comprehensive and collision premiums.

Maintaining a clean driving record is one of the biggest ways to save on car insurance. Those with a history of speeding tickets, at-fault accidents, traffic violations or DUIs are charged more for insurance. A violation stops affecting your rates after it goes off your record, which usually happens after three years.

Each state sets its own minimum insurance requirements, but you can get additional coverage if you want to be fully protected. Shopping for full coverage insurance with higher policy limits will increase your car insurance quotes.

Collision and comprehensive insurance policies usually include a deductible. Choosing a higher deductible will result in a lower premium and vice versa.

What You Need To Know About Comprehensive Car Insurance

The discounts you are eligible for will affect your rate. Common car insurance discounts include homeowner discounts, military discounts, multi-policy discounts and pay-in-full discounts.

You may find that your car insurance premiums change every six months or every year. Your premiums are actually part of a regional insurance pool that is sometimes affected by changes in state regulations and the total amount of claims at a given time.

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