Auto Insurance Yearly Costs
That works out to an average car insurance rate of about 119 per month for 40 year.
Auto insurance yearly costs. How much is car insurance. A yearly auto insurance policy consumers usually choose between a semi annual or yearly auto insurance policy. Michigan came in second followed by florida new jersey and new york. The average car insurance cost in arizona is 1 247 annually 12 6 less than the us average.
Aaa s 2019 your driving costs study broke down the average annual costs associated with nine different types of vehicles factoring in the costs of gas maintenance repairs tires car insurance fees car payments and depreciation in order to calculate the annual cost of ownership for different types of vehicles. In 2017 the most expensive state for auto insurance was louisiana with an average annual cost of 1 443 72. Average insurance premiums by region. Shopping around and getting quotes from a variety of companies is the best way to save money when you buy car insurance.
For 2017 the average monthly car insurance prices at progressive ranged from 116 in south dakota to 188 in california. The least expensive state was north dakota with an average annual cost of just under 660. Learn more about auto insurance rates by state. We examined the average cost of car insurance by state to help drivers estimate how much they should be paying for coverage.
How much your car insurance costs depends on a variety of factors including vehicle age driving record insurance company you buy from and location. Your auto insurance premiums are impacted by more than just your location. News auto insurance guide will also help you learn more about available discounts and other ways to cut costs. The national average cost of car insurance is 1 427 per year according to nerdwallet s 2020 rate analysis.
Car insurance costs vary by region as well. For example in the midwest michigan is expensive but the cheaper car insurance offered in ohio 523 indiana 582 illinois 651 and wisconsin 590 help lower the overall average. Are currently around 118 mo. Car insurance premiums take into account a number of components such as the insured party s marital status driving history credit rating gender and age.
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. In a september 2019 interview with the insurance journal donelon said the main factor driving the high cost of auto insurance in louisiana is our highest in the nation claims to litigation ratio. The best car insurance companies in 2020 our car insurance ranking usaa geico allstate.
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