If you're like most responsible adult Americans, you know that having car insurance is a must. But did you know that car insurance rates can vary widely based on where you live, your age, and even your credit score?
Car Insurance Costs by State
According to data from Kelley Blue Book, the average car insurance cost in the United States is $1,674 per year. However, this number can vary widely depending on where you live.
For example, if you live in Michigan, you can expect to pay the highest car insurance rates in the country, with an average annual premium of $3,000. On the other hand, if you live in Maine, you'll enjoy the lowest rates in the country, with an average annual premium of just $864.
Car Insurance Costs by Company
Not all car insurance companies are created equal, and rates can vary widely depending on which company you choose to go with. According to The Zebra, the average car insurance premium in the United States is $1,738 per year, but rates can range from as low as $1,189 per year with USAA to as high as $2,693 per year with Allstate.
The Zebra also notes that the average car insurance rate in the United States has increased by 29.6% since 2011, so it's important to shop around for the best rates and deals.
Car Insurance Costs by Credit Score
Believe it or not, your credit score can also have an impact on your car insurance rates. According to Batta Fulkerson, drivers with poor credit scores can expect to pay up to double the amount for car insurance as drivers with excellent credit scores.
Why? Insurance companies see drivers with poor credit scores as higher-risk, and thus charge them more to offset that risk.
Car Insurance Costs by Age
Age is another factor that can impact your car insurance rates. According to Epsilonbeg, the average car insurance cost per month varies widely depending on your age and the state you live in.
For example, a 20-year-old driver in Michigan can expect to pay an average of $438 per month for car insurance, while a 40-year-old driver in Maine can expect to pay just $53 per month.
Teenage Car Insurance
If you have a teenage driver in your household, you know that car insurance rates can be especially high. According to Artfirstdesign, the average cost of car insurance for a teenage driver can vary widely depending on age, gender, and location.
For example, a 16-year-old male driver in Michigan can expect to pay an average of $760 per month for car insurance, while a 16-year-old female driver in Maine can expect to pay just $95 per month.
2022 Car Insurance Rates by Age and Gender
NerdWallet released a study on car insurance rates by age and gender that showed some interesting trends. According to their data, young men between the ages of 16 and 18 can expect to pay the highest rates for car insurance, with an average premium of $5,904 per year. On the other hand, middle-aged women between the ages of 40 and 60 can expect to pay the lowest rates, with an average premium of just $1,241 per year.
So what does all this data mean for you? Ultimately, it means that there's no one-size-fits-all answer when it comes to car insurance rates. To get the best rates and coverage for your individual needs, it's important to shop around and compare quotes from multiple insurance companies. And remember, while it can be tempting to go with the cheapest option, make sure you read the fine print and understand exactly what coverage you're getting before you sign on the dotted line.
If you are searching about Teenage Car Insurance Average Cost Per Month ~ artfirstdesign you've visit to the right page. We have 8 Pics about Teenage Car Insurance Average Cost Per Month ~ artfirstdesign like Average Price Of Car Insurance Per Month - designby4d, How Much Does Car Insurance Cost on Average? | The Zebra and also Average U.S. Car Insurance Costs by State for 2022 - Kelley Blue Book. Read more:
Teenage Car Insurance Average Cost Per Month ~ Artfirstdesign
artfirstdesign.blogspot.com Average Price Of Car Insurance Per Month - Designby4d
designby4d.blogspot.com businessinsider premiums
2022 Car Insurance Rates By Age And Gender - NerdWallet
www.nerdwallet.com nerdwallet marder
Average U.S. Car Insurance Costs By State For 2022 - Kelley Blue Book
www.kbb.com state kbb
New Data Shows Location Has A Big Impact On Car Insurance - Financial
findependencehub.com insurance
Average Car Insurance Cost Per Month By Age And State – Epsilonbeg
epsilonbeg.blogspot.com thezebra zebra mymissiontodoinlife
The Average Cost Of Car Insurance | Batta Fulkerson
battafulkerson.com How Much Does Car Insurance Cost On Average? | The Zebra
www.thezebra.com geico nationwide cheapest
2022 car insurance rates by age and gender. Businessinsider premiums. Teenage car insurance average cost per month ~ artfirstdesign
1 Comments
Well researched article, thank you for sharing. Also do check my Farmtrac Tractor page
ReplyDelete