Typical Auto Insurance Cost

Michigan is the most expensive with an average yearly premium of 3 466 while maine is the cheapest at 1 062. Car insurance in michigan costs three times more than it does in our cheapest state maine where the average premium is a mere 912 a year. Average cost of car insurance is 1 758 per year but every driver will pay a different rate places with a higher population density lower incomes and a large percentage of uninsured drivers will have a higher average car insurance cost because the likelihood of filing a claim is higher.

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How Much Does Car Insurance Cost On Average

The national average cost of car insurance is 1 427 per year according to nerdwallet s 2020 rate analysis.

Typical auto insurance cost. The average annual cost of car insurance in the united states is 1 416 according to the data in our study. But there are conflicting figures with statista which collates statistics and studies saying that the average cost is a larger 692 and confused saying that drivers are paying a whopping 827 on average and that premiums are likely to rise to. Top rated auto insurance. It just takes one mishap to disrupt life as you know it.

According to the association of british insurers abi the average cost of car insurance in the uk for comprehensive cover costs 485 a year. The top three most expensive states stayed the same compared to last year. We examined the average cost of car insurance by state to help drivers estimate how much they should be paying for coverage. Guy and women also may have far better luck searching for low cost vehicle insurance if they have a high credit report score.

The main culprits for high prices in any state are the presence of a no fault insurance system a high population density and frequent car accidents. The long answer is that the average cost depends on a variety of key factors many of which we ve outlined in the sections below. One of the most significant determinants of car insurance prices is your home state. Average car insurance rates explained.

Some small vehicle insurance business just supply policies in a couple of states. Car insurance for people under 25 years of age is typically quite high. After collecting quotes from top insurers across the country we found the average auto insurance rate to be 2 390 per year or 200 per month. That s the short answer.

This bears out when you look at average car insurance rates by age. That works out to an average car insurance rate of about 119 per month for 40 year. With age comes wisdom and lower car insurance rates up to a point. Teens and young drivers are inexperienced behind the wheel and statistics show they as a class in whole are more likely to be in accident than other age groups which makes them a high.

What is the average car insurance cost by state.