If you’re looking for a low-cost auto insurance policy, you might be surprised to learn that your state can make a significant difference in your rates. While some states are more expensive than others, it’s important to remember that the cost of insurance depends on many factors, including your state, car model, and ZIP code. Here are the average costs of car insurance by state, make, and model in the United States.
Average cost of car insurance in the United States
There are several factors that affect the cost of car insurance. The average rate for each type of vehicle varies from state to state. Insurers base their rates on the driver’s risk level and likelihood to file a claim. Drivers with a history of accidents or wrecks are more likely to have higher premiums than drivers with clean driving records.
Drivers with clean driving records and good credit can qualify for cheap car insurance. Others who want to have more comprehensive coverage will have to pay more. Insurers use dozens of factors to set the rates of full coverage policies. They also make educated guesses on the likelihood of claims in the future. This means that being a claim free driver in the last five years might earn you a 20% discount with one insurer but cost twice as much with another.
Gender can have a small impact on car insurance rates. Male drivers pay an average of $4,132 a year more than female drivers. However, the average cost is almost equal for both genders after the age of 25. Other factors that may affect the rate of car insurance include marital status. Married drivers are generally insured at a lower rate than single drivers and divorced individuals.
Average cost of car insurance by state
The average cost of car insurance has stayed flat over the past five years, but rates in different states vary wildly. For example, rates in Montana rose 37% last year, while those in New Jersey fell by 30%. Car insurance rates also vary by type and location. MoneyGeek examined hundreds of thousands of quotes to find the average cost of car insurance in each state.
Premiums can increase or decrease depending on many factors, including road conditions, traffic density, cost of living, and the percentage of uninsured drivers in a particular state. Also, the severity of weather conditions can affect the cost of insurance. Hurricanes, for example, can cause billions of dollars in damages. As a result, insurance companies are more likely to charge a higher rate in areas with severe weather conditions.
While the national average for full-coverage car insurance will remain roughly the same by 2022, the costs will vary by state. In some states, insurance prices will increase as a result of more accidents and uninsured drivers.
Average cost of car insurance by make and model
Car insurance rates are based on dozens of factors, including the make and model of your vehicle. Standard vehicle models will typically cost far less to insure than high-end models. For instance, a Jeep Wrangler will cost $1,777 to insure compared to a Jaguar XJR, which costs $5,478. You should compare quotes and compare rates to ensure that you’re getting the best value for your money.
The cost of car insurance differs according to age, driving history, type of car, and credit score. While the average car insurance premium is about $1,771 per year for a midsize sedan, actual premiums will vary greatly. When comparing rates, it’s important to get several quotes from different insurance companies and ask about discounts.
You can determine your car’s make and model by looking at the back of your car, reading the vehicle registration certificate, or examining the owner’s manual. These factors impact the cost of car insurance premiums because insurers base their premiums on your car’s value, safety features, and repair costs. Luxury cars, for example, are more expensive to repair than standard models, which translates to higher premiums.
Average cost of car insurance by ZIP code
Insurance rates can vary greatly between ZIP codes, and the rates in one area can be significantly higher than in another. Many insurers base their rates on the number of accidents and the cost of repairs. Insurers also factor in the risk factors, such as the type of car a person drives and the driver’s age.
The quality of roads in a ZIP code can also affect the cost of car insurance. Poor roads result in more accidents, which means higher rates. Poor road conditions can also lead to more wear and tear on vehicles, which increases repair bills. If you live in an area with poor roads, be sure to contact your local government to see how you can help improve the situation.
As you can see, car insurance premiums vary widely by ZIP code. For instance, Beverly Hills has a 44 percent higher auto insurance rate than the state average. In contrast, Morro Bay is one of the cheapest cities in California.
