Rate and Price Factors 2022

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What is the average cost of car insurance in the United States? In this article, the Home Media Reviews team will explain average auto insurance costs by state and how to keep your rates low. We also recommend two of best car insurance companies to consider in the sections below.

How much does car insurance cost?

The average cost of comprehensive insurance is $1,730 per year Where $144 per monthwhile minimum liability coverage averages $635 per year Where $53 per month. However, your own car insurance costs may vary depending on your specific personal information. This is because insurers consider factors such as your location, driver profile, vehicle and desired coverage when calculating premiums.

How much does auto insurance cost in your state?

All states set their own auto insurance regulations and requirements. Different states also have different driving conditions, which can impact the cost of auto insurance.

Car Insurance Cost by State

To give you an idea of ​​what drivers in each state pay in average annual premiums, we collected data from Quadrant Information Services and found the average cost of car insurance by state. Cost estimates in the table below include estimates for minimum coverage and full auto insurance.

Most Expensive Auto Insurance By State

Here are the five most expensive states for comprehensive auto insurance:

States with the cheapest auto insurance

And here are the five cheapest states for comprehensive car insurance:

Jit is the best wayo see how much car insurance would cost for your vehicle is by comparing free quotes from providers in your state.

Car insurance pricing

Auto insurance costs are determined based on a number of factors. The impact of each factor on your final premiums may vary from provider to provider, so it’s important to compare average car insurance rates from several insurers.

Factors That Affect Car Insurance Rates

The table below contains the main factors that generally determine the cost you will pay for auto insurance:

How to reduce car insurance

If you are shopping for car insurance online and receive quotes that exceed your budget, here are several strategies to reduce your auto insurance rates:

  • Compare the prices: It’s worth comparing rates from multiple insurers, especially if something that could impact your rates has recently changed. For example, after you get married, buy a house, or if your credit score improves, you should see if you can get a lower car insurance premium.
  • Bundled packages: Bundling your home and auto insurance policies usually results in premium discounts. You can also save money by insuring multiple vehicles under the same auto insurance policy.
  • pay in advance: Most insurers offer a full payment discount. If you are able to pay your entire premium at once, this is often a more cost effective option.
  • Take a class: Each state offers state-approved driver safety programs. Depending on the state, these courses last about six or eight hours. Most insurers offer discounts for completing these programs.
  • Use a monitoring app: Several vendors offer usage-based discounts or usage-based insurance programs. After signing up, you’ll monitor your driving habits through an app that tracks things like braking distance, average speed and driving times and rewards you for good behavior on the road.
  • Reduce coverage: As your vehicle ages, you may no longer need collision damage waiver Strategies. Generally, you must drop coverage when your annual premium exceeds 10% of the total value of your vehicle.

Auto Insurance Cost: Conclusion

After conducting extensive industry research, our team found that the average comprehensive insurance policy costs an average of $1,730 per month. This is higher than the minimum liability coverage because it incorporates liability, comprehensive and collision coverage.

To find the best auto insurance price, we recommend shopping around and compare auto insurance rates with reputable insurance companies.

The cost of auto insurance is an important consideration when choosing a provider. Of course, you’ll also want to choose a reputable insurer that offers good coverage and an easy claims process. There are several insurers that fit this description in the United States

To find the best option for you, ask and compare auto insurance quotes of a few companies.

Geico: Editor’s Choice

Geico offers low premiums nationwide. When researching insurance costs, we often found that Geico was the cheapest insurer. The company also has a good reputation for customer service – they are accredited and have a A+ rating from the Better Business Bureau (BBB).

Geico offers the six standard auto insurance types (Liability, Collision, Comprehensive, Underinsured/uninsured motorist coverageinjury protection and medical payments), as well as the following additional coverage options:

  • Emergency Road Service
  • Reimbursement of rent
  • Mechanical breakdown insurance
  • Carpooling insurance

Learn more about the supplier in our complete file Geico Car Insurance Review.

Progressive: reduced rates for high-risk drivers

Progressive doesn’t have the same reputation for service as Geico, but it’s a reputable national insurer nonetheless. According to our research, Progressive is a particularly good option for high-risk drivers such as young drivers, older drivers, and drivers with a recorded DUI. We’ve found that Progressive tends to offer the most competitive rates for these types of drivers, who will often find the insurance policies quite expensive.

Progressive sells all standard insurance policies plus the following additional coverages:

  • Loan/lease repayment
  • Reimbursement of the rental car
  • Coverage of the value of custom parts and equipment
  • Carpool coverage
  • Roadside assistance

Learn more about the supplier in our complete file Car Insurance Step-by-Step Review.

Car Insurance Prices: FAQs

Our Methodology

Because consumers rely on us to provide unbiased and accurate information, we’ve created a comprehensive rating system to formulate our ranking of the best car insurance companies. We’ve collected data on dozens of car insurance providers to score companies on a wide range of ranking factors. The end result was an overall score for each provider, with insurers who scored the most points at the top of the list.

Here are the factors taken into account by our assessments:

  • Cost (30% of total score): Auto insurance rate estimates generated by Quadrant Information Services and discount opportunities were both taken into consideration.
  • Coverage (30% of total score): Companies that offer a variety of insurance coverage choices are more likely to meet consumer needs.
  • Reputation (15% of total score): Our research team considered market share, industry expert ratings, and years in business to assign this score.
  • Availability (10% of total score): Auto insurance companies with greater state availability and fewer eligibility criteria scored higher in this category.
  • Customer experience (15% of total score): This score is based on volume of complaints reported by the NAIC and customer satisfaction ratings reported by JD Power. We also considered the responsiveness, friendliness and helpfulness of each insurance company‘s customer service team based on our own customer analysis.

*Data correct at time of publication.

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