How Much Does Car Insurance Cost Per Month

What Is The Average Cost of Car Insurance Per Month?

If you're looking to buy car insurance, you're likely wondering just how much it will cost you each month. Fortunately, there are a variety of factors that influence the cost of car insurance, so it's possible to get a good idea of what your monthly premium will be. In this article, we'll discuss some of the most important factors that play a role in determining how much car insurance costs per month.

Factors That Affect Car Insurance Rates

The cost of car insurance can vary widely from one person to the next, depending on a variety of factors. Insurance companies consider age, driving record, credit score, location and even the type of car when determining rates. For example, a young driver with poor credit and a history of accidents will likely pay much more for insurance than an older driver with good credit and a clean driving record.

The type of car you drive can also have an impact on your insurance rates. Cars with higher safety ratings, newer models, and those with anti-theft devices typically receive lower rates. On the other hand, cars that are considered high-risk, such as sports cars and luxury vehicles, are likely to have higher premiums.

Another factor that affects car insurance rates is the amount of coverage you purchase. Generally, the more coverage you have, the higher your rates will be. This is because more coverage means more protection, which is more expensive for the insurance company to provide.

Average Cost of Car Insurance Per Month

Now that you know some of the factors that can affect the cost of car insurance, you may be wondering what the average cost is. According to the Insurance Information Institute, the average cost of car insurance in the United States is around $135 per month. Of course, this is just an average, and your actual cost could be higher or lower, depending on the factors listed above.

It's important to note that the cost of car insurance can also vary by state. For example, some states have higher rates due to higher accident rates, while others may have lower rates due to less stringent insurance regulations. Be sure to shop around and compare rates in your area to get the best deal.

How to Get the Best Deal on Car Insurance

If you're looking to get the best deal on car insurance, there are some steps you can take to make sure you get the lowest possible rate. First, shop around and compare rates from multiple companies. Also, consider raising your deductible, as this can lower your premium. Additionally, look into discounts offered by your insurance company, such as those for good drivers or students.

It's also important to maintain a good credit score, as this can have a big impact on your rates. Finally, be sure to review your policy each year to make sure you are still getting the best deal. By taking the time to do your research, you can save a significant amount of money on car insurance.