Average Car Insurance Cost Per Month

Car insurance is an important factor to consider when deciding on a car. Car insurance rates can vary widely depending on the type of car you drive, the coverage you select, and other factors such as age and driving record. Understanding how much you can expect to pay for car insurance each month is essential to making an informed decision.

Average Car Insurance Cost

The average cost of car insurance in the United States is approximately $1,555 per year. This is based on an average across all states, and may be higher or lower depending on the state you live in and the type of car you drive. The average cost of car insurance per month is approximately $129. However, this can vary greatly depending on the type of coverage you select and the deductible you choose.

Factors Affecting Car Insurance Cost

There are several factors that can affect the cost of car insurance. The type of car you drive is one of the most important factors, as cars with higher safety ratings tend to have lower insurance rates. Other factors include your age, driving record, and the type of coverage you select. Your credit score can also affect the cost of car insurance, as insurance companies use credit scores to determine the potential risk of insuring a person.

Different Types of Car Insurance

When shopping for car insurance, it is important to understand the different types of insurance available. The most basic type of coverage is liability insurance, which covers bodily injury and property damage caused by an accident. This type of coverage is mandatory in most states. Other types of coverage include comprehensive coverage, which covers damage to your vehicle caused by events such as fire, theft, or vandalism, and collision coverage, which covers damage to your vehicle caused by an accident.

Saving Money on Car Insurance

There are several ways to save money on car insurance, including shopping around for the best rates and raising your deductible. Shopping around is important, as insurance companies can vary widely in terms of their rates and policies. Additionally, raising your deductible can reduce your monthly premiums, as you will be responsible for a larger portion of the cost in the event of an accident.

Bottom Line

The average cost of car insurance per month is approximately $129. The cost of car insurance can vary greatly depending on the type of car you drive, the coverage you select, your driving record, and other factors. Shopping around for the best rates and raising your deductible can help you save money on car insurance.