Avg Cost Of Car Insurance

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

Avg cost of car insurance. For example the average annual cost of comprehensive car insurance premiums in nsw for a male driver under the age of 25 was 2 471 according to canstar s 2020 car insurance star ratings data. Refer to the chart below to see average car insurance costs by age and state for full coverage. Because quotes vary for every individual comparing rates is often the best way to find savings on car insurance. 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.

But the price of your policy will be unique to your situation. Average car insurance costs by age and state the car insurance premiums you pay can depend on a range of factors such as your age location and even gender. Car insurance for a 19 year old. One of the most significant determinants of car insurance prices is your home state.

What is the average car insurance cost by state. Michigan is the most expensive with an average yearly premium of 3 466 while maine is the cheapest at 1 062. That s the short answer. The average cost of a car insurance policy is 937 per year or 78 per month for a policy that meets the minimum requirements of each state.

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. 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. That works out to an average car insurance rate of about 119 per month for 40 year. According to the association of british insurers abi the average cost of car insurance in the uk for comprehensive cover costs 485 a year.