Car insurance is an essential requirement for every car owner, and the cost of the insurance varies significantly by age, state, and country. In this post, we'll explore the average car insurance cost by age, state, and country.
Average Car Insurance Cost by Age
In the US, the cost of car insurance generally decreases with age until the driver reaches 60. After that, the cost may increase slightly. On average, a 16-year-old driver will pay the highest price for car insurance, with an average cost of $6,930 per year. However, as the driver ages, the cost of insurance decreases.
Drivers aged 20 to 24 can expect to pay an average of $2,110 per year for car insurance, while drivers aged 25 to 29 can expect to pay an average of $1,707 per year. Drivers aged 30 to 34 can expect to pay an average of $1,573 per year.
In Canada, the cost of car insurance is similar, with drivers aged 16 to 24 paying the highest premiums. On average, a 16-year-old driver will pay around $7,500 per year for car insurance. However, as the driver ages, the cost of insurance decreases.
Drivers aged 25 to 29 can expect to pay an average of $2,776 per year for car insurance, while drivers aged 30 to 34 can expect to pay an average of $2,196 per year.
Average Car Insurance Cost by State
The cost of car insurance also varies significantly by state in the US. Michigan has the highest average cost of car insurance, at $2,611 per year, while Maine has the lowest average cost of car insurance, at $896 per year.
Other states with high average costs of car insurance include Louisiana, Florida, and New York. On the other hand, states with low average costs of car insurance include North Carolina, Idaho, and Ohio.
In Missouri, the average cost of car insurance is around $1,000 per year. However, the cost can vary significantly depending on factors such as age, driving history, and location. Drivers in St. Louis may pay significantly higher premiums than drivers in rural areas.
Average Car Insurance Cost by Country
The cost of car insurance also varies significantly by country. In Australia, the average cost of car insurance is around AU$1,000 per year. However, the cost can vary significantly depending on factors such as age, driving history, and location. Drivers in Sydney may pay significantly higher premiums than drivers in rural areas.
Other countries with high average costs of car insurance include the UK and New Zealand. On the other hand, countries with low average costs of car insurance include Japan and Germany.
Conclusion
Car insurance is an essential requirement for every car owner, and the cost of the insurance varies significantly by age, state, and country. Drivers aged 16 to 24 generally pay the highest premiums for car insurance, while drivers aged 30 to 34 pay the lowest premiums. Similarly, the cost of car insurance varies significantly by state and country, with Michigan having the highest average cost of car insurance in the US and the UK having one of the highest average costs of car insurance in the world.
If you're looking for an affordable car insurance policy, it's crucial to shop around and compare quotes from multiple providers. Be sure to consider factors such as coverage limits, deductibles, and customer service when making your decision.
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