How much is car insurance in America? The cost of car insurance in America varies greatly depending on several factors, so it's impossible to give you a single, definitive answer. However, I can give you some general information and point you towards resources that can help you get a more accurate estimate for your specific situation.
How much is car insurance in America?
Here are some key points to remember:- National averages: As of February 2024, the average annual cost of car insurance in the US is:
- $2,150 for full coverage: This includes optional coverage for theft and damage to your own vehicle.
- $64 for minimum coverage: This typically only covers liability for injuries and property damage caused to others.
- $165 per month for full coverage: This breaks down the annual cost into monthly payments.
- $62 per month for minimum coverage.
- Individual factors: These averages don't tell the whole story. Your actual cost will depend on various factors, including:
- Your age, location, driving history, credit score, and the type of car you drive.
- The amount of coverage you choose.
- The insurance company you select.
Factors affecting your rate:
Your location: Car insurance rates vary significantly by state, with factors like population density, accident rates, and theft rates playing a role.- Your driving history: Drivers with clean driving records will typically pay lower rates than those with accidents, tickets, or DUIs.
- Your age: Young drivers (usually under 25) and older drivers (usually over 70) tend to pay higher rates.
- Your credit score: In most states, your credit score can be used to determine your car insurance rates. Drivers with good credit scores typically pay lower rates.
- The type of car you drive: More expensive cars and cars with higher performance ratings tend to be more expensive to insure.
- Your coverage: The amount of coverage you choose will also affect your rate. Higher coverage levels will typically cost more.
Car insurance in America
Here are some resources that can help you get a more accurate estimate for your situation:- Comparison websites: These websites allow you to compare quotes from multiple insurance companies. Some popular options include NerdWallet, ValuePenguin, and The Zebra.
- Insurance company websites: Most insurance companies offer online quote tools on their websites.
- Independent insurance agents: They can shop around for different insurance companies to find the best rates for you.
