When it comes to purchasing auto insurance, you should know the prices you can expect to pay. This guide breaks down the average cost of car insurance.
You’re moving forward with that new car you’ve always wanted. Congratulations! Now, you wonder: what is the average cost of car insurance?
Pretty much anyone that owns a vehicle or plans to buy one in the future will have to shell out quite a bit of cash for insurance. Car insurance can get quite expensive depending on many factors.
We’ll help you understand car insurance rates and what you can do to prevent a hefty bill each month.
Average Insurance Costs From Different States
The average cost of car insurance varies drastically from state to state. Generally, the annual cost of car insurance in the United States is around $1,400 annually. However, states like Michigan and Louisiana pay the highest premiums, averaging in at $2,000+.
On the other hand, North Carolina, Alaska, and Vermont are the most affordable states for auto insurance, with prices as low as $996. Additionally, some states offer discounts or credits for certain driving behaviors, such as taking a defensive driving course or having an anti-theft device installed in your vehicle.
Knowing these average costs can help you make the best decision when shopping for car insurance.
Factors Influencing Car Insurance Costs
The cost of car insurance coverage varies depending on a number of factors, including the driver’s age and driving record, the type of car being insured, the coverage limits and deductible amounts, and the state in which the car is driven.
Younger drivers are generally considered to be riskier and have higher premiums. Similarly, sports cars tend to have higher insurance costs due to their higher risk of accident or theft.
As for coverage, you may need more if you drive long distances or care for an expensive vehicle. The state in which the car is registered may also influence costs. Insurance like SR22 insurance online is usually cheaper in rural areas than in cities.
Utilizing Discounts to Lower Car Insurance Premiums
Discounts on car insurance premiums can play a key role in reducing the cost of driving and keeping your rates low. Many discounts are available, including multi-car, safe driver, and good student discounts.
As a driver, it is important to ask your provider about which discounts are available and how you can utilize them to lower your car insurance premium. On average, car insurance premiums can range from a few hundred dollars per year to thousands of dollars.
Utilizing discounts to lower car insurance premiums can help make the cost of driving more affordable. Additionally, discounts may be available for paying your premiums in full or setting up automatic or online payments.
Make sure to explore all of your options for discounts when buying insurance in order to get the best deal.
Learn More About the Average Cost of Car Insurance
The average cost of car insurance varies depending on factors like age, location, and driving record. However, the cost of car insurance can be lowered significantly by shopping around, comparing rates, and looking for discounts.
To get an estimate of the cost of car insurance, use our car insurance calculator today!
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