Average Annual Auto Insurance Premiums

In fact you should consider shopping around for cheaper car insurance rates every year.

Average annual auto insurance premiums. Average cost of car insurance by age. The average annual cost of car insurance in the united states is 1 416 according to the data in our study. Car insurance rates in indiana are generally inexpensive. The lowest average age group for car insurance in the uk was for those in their fifties with the average cost of 600.

1 270 average annual premium. Average annual car insurance costs can decrease significantly between the ages of 18 and 25 as insurers tend to evaluate older drivers as both less risky and likely to file a claim. Age is a reliable indicator of how risky a driver you will be to your insurance company. The average price of a car insurance premium has gone up to 809 per year according to new data for q1 2020.

This bears out when you look at average car insurance rates by age. Average car insurance rates by driver age. With age comes wisdom and lower car insurance rates up to a point. In 2017 the most expensive state for auto insurance was louisiana with an average annual cost of 1 443 72.

The below data shows the relationship between age and car insurance rates. 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. The least expensive state was north dakota with an average annual cost of just under 660. 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.

This is a stunning 489 more than second place louisiana and a whopping 90 higher than the national average of 1 517. In 2017 the latest data available the average expenditure was highest in louisiana 1 443 72 followed by michigan 1 358 62 and florida 1 356 90. When it comes to expensive car insurance premiums michigan is head and shoulders above the competition with an average annual premium of 2 878. That s the short answer.

However premiums still vary from one insurance company to another so it s best to compare auto insurance rates in indiana to get the lowest price possible. Michigan came in second followed by florida new jersey and new york. Age is a major component of auto insurance premiums.