Average Auto Insurance Cost Per Month For One Person

Introduction

Auto insurance is an important purchase for anyone who drives a vehicle. The insurance covers the cost of damage or injury caused by the use of the vehicle and can provide financial protection for the driver and the passengers in the event of an accident. The cost of auto insurance will vary from person to person, depending on a variety of factors. In general, the average auto insurance cost per month for one person is around $100.

Factors That Impact Average Auto Insurance Cost Per Month

When it comes to auto insurance, there are a variety of factors that can impact the cost. The age, gender, and driving record of the driver are all taken into consideration when calculating the premium. Additionally, the make and model of the vehicle, the type of coverage, the amount of coverage, the deductible, and the location of the vehicle can all influence the premium.

Average Auto Insurance Cost By Age

The age of the driver is one of the primary factors that can impact the average auto insurance cost per month. Generally, younger drivers are more expensive to insure than older drivers, as they are seen as higher risk due to their lack of experience. According to the National Association of Insurance Commissioners, the average auto insurance cost for a 16-year-old driver is around $3,500 per year, or $292 per month. For a 35-year-old driver, the cost is around $1,100 per year, or $92 per month.

Average Auto Insurance Cost By Gender

The gender of the driver can also have an effect on the average auto insurance cost per month. Generally, male drivers are considered to be more expensive to insure than female drivers. This is due to the fact that, statistically, males are more likely to be involved in an accident. According to the National Association of Insurance Commissioners, the average auto insurance cost for a male driver is around $1,200 per year, or $100 per month. For a female driver, the cost is around $1,100 per year, or $92 per month.

Average Auto Insurance Cost By Make and Model

The make and model of the vehicle can also have an effect on the average auto insurance cost per month. Generally, vehicles that are considered to be more expensive to repair or replace, such as luxury cars, will be more expensive to insure. Additionally, vehicles that are more likely to be involved in an accident, such as sports cars, will be more expensive to insure. According to the National Association of Insurance Commissioners, the average auto insurance cost for a luxury car is around $2,400 per year, or $200 per month. For a sports car, the cost is around $2,600 per year, or $217 per month.

Conclusion

In conclusion, the average auto insurance cost per month for one person is around $100. However, this cost can be impacted by a variety of factors, including the age, gender, and driving record of the driver, as well as the make and model of the vehicle. Additionally, the type of coverage, the amount of coverage, the deductible, and the location of the vehicle can all influence the premium. It is important to shop around and compare rates to ensure that you are getting the best possible rate for your auto insurance coverage.