Average Cost of Car Insurance


Average Car Insurance Cost

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There are several factors that are involved in the equation. Some of these factors are within your control, and some are not really up to you. Although the rate quotes you will get from different companies will vary quite a bit, at least this will give you an understanding of what goes into determining what your rates will be. You’ll be able to use our car insurance calculator above to find and compare prices.

  • Driving Record– Obviously this is a big factor in determining what your auto insurance premium rates will be. Anyone who has been able to keep their record free from tickets and accidents can expect your rates to be much lower, unless you are a new driver without any record at all.
    • First time drivers and those with multiple infractions are more likely to be considered high risk, which means rates will be higher. After three years minor tickets and accidents usually come off your record, so be sure to alert your insurance carrier so they can adjust your premiums accordingly.
  • Driver’s Age– Younger first time drivers are among the highest premium rate classes because inexperience puts you at a greater risk for accidents.
    • Many young drivers are included in their parents’ policy as an occasional driver to help keep costs lower.
    • Doing other things, including taking driver’s education class in school, can also help lower your premiums.
    • Generally the rates only decrease slightly until around age 21 or after marriage, as long as the record stays clean. Age 25 or marriage is when you begin to see an even bigger drop in premiums as long as the record is clean.
  • Type of Vehicle– When it comes to the type of car you are driving, there are a lot of details that can impact the cost of your policy when you use the car insurance calculator.
    • For one thing, if the car is brand new and financed this is where you will find your highest car insurance rates because you must have different types of coverage including collision, comprehensive and usually gap insurance as well.
    • Obviously there is even a difference based on whether you are driving a convertible sports car or a sensible family four door. Color can sometimes have an effect on the costs as well.
    • Most importantly, you can see some savings if you have safety features and anti-theft features included. Choose antilock brakes and airbags over a DVD player, and your insurance won’t be quite as high.
  • Use for Vehicle – If you are simply driving your car to an office job five minutes away as your primary use, the rates for insurance will be lower. If you drive a great distance or use the vehicle for work, as in delivery work, then you will have to carry greater coverage that will also cost a bit more.
  • Location of the Vehicle– Surprisingly where the vehicle is located and kept at night is also a major factor in pricing your policy rates.
    • For one thing, each state has different minimum requirements, so your state could cost you more or save you money on insurance.
    • Next, even your zip code impacts the cost because it will give data about the rate of accidents, crime and even road hazards such as construction.
    • Finally, where you park your car when you are not using it will have an impact on the cost. For example, if you live in a quiet cul-de-sac with low crime and park your car in a garage so it is safe from even potential damage from storms, your rates will reflect this. Parking on the street in a neighborhood with higher crime rates and the vehicle exposed to the elements will cost you more for insurance protection.

There are other factors involved, and sometimes it depends on the company you are dealing with. For instance, some companies offer lower rates for those with better credit scores because it means you are more likely to keep your policy paid for and activated. It could also mean you are less of a risk for tickets and accidents.

If you have had gaps in your insurance coverage history, you are also likely to pay higher rates. Any driver who lets coverage lapse for more than 30 days is considered high risk. So even if you are not driving your own car make sure you get something like non-owners insurance coverage so you have some type of policy in place. The calculator will show the higher rates.

If you have had more serious infractions on your record, such as DUI, you may have to carry SR22 insurance to drive legally or even get your license reinstated. Rates for this type of coverage are obviously going to be steeper. So take this into consideration when you calculate your rates.

Taking Control of Your Rates

  • The best way you can get rates that fit your budget is to get comparative rates. Calculating what you might expect to pay is one thing. Getting rates from different carriers to find the best deal for your coverage is the perfect method to use to see the savings you deserve.
  • It was once much more complicated to compare rates. This involved contacting several different companies in your area and giving out your personal information to each one. After a few days these companies would call back and give you rates. Of course, not all of them would remember to call back so you would have to follow up on your own just to try to give them your business. It is simple to estimate car insurance prices today.
  • These days the work can simply be done for you. By starting with nothing more than your zip code you can get an idea of what your rates could be. Even if you already have coverage, you should get your free quotes today to make sure you are getting the best rates possible for the coverage you want and need.