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What Is The Average Cost Of Car Insurance Per Month?

Introduction

Car insurance is a necessary expense for most drivers. It helps keep you safe in the event of an accident, and it also protects you from financial losses if your vehicle is damaged or stolen. However, understanding the average cost of car insurance per month can be a difficult task. While there are many factors that go into determining car insurance rates, the average cost of car insurance per month can be determined by looking at several key elements. In this article, we will examine the average cost of car insurance per month, as well as some tips to help you save on your car insurance.

Factors That Influence Car Insurance Rates

There are many factors that influence the cost of car insurance, and these can vary from one provider to the next. Some of the most common factors that affect car insurance rates include the make and model of your vehicle, your driving record, your age, your gender, and your credit score. Additionally, where you live and how often you drive can also influence your car insurance rates. Generally speaking, the more risk you represent to an insurance company, the higher your rates will be.

Average Cost Of Car Insurance Per Month

The average cost of car insurance per month can vary depending on the factors mentioned above. According to the Insurance Information Institute, the national average cost of car insurance per month is approximately $135. This is for a full coverage policy, which includes liability, collision, and comprehensive coverage. However, the cost of car insurance can be drastically different depending on the state you live in and the factors that may affect your rates. For example, the average cost of car insurance in California is approximately $163 per month, while the average cost of car insurance in Maine is much lower at around $93 per month.

Tips To Save On Car Insurance

If you're looking to save money on your car insurance, there are several steps you can take. One of the best ways to save on car insurance is to shop around and compare rates from different companies. Additionally, you can look for discounts from certain providers, such as those for good drivers or those who have multiple policies with the same company. You can also take steps to reduce your risk, such as taking a driver safety course or installing a car alarm system. Finally, if you are a student or a member of certain organizations, you may be eligible for discounts on your car insurance.

Conclusion

Understanding the average cost of car insurance per month is an important part of being a responsible driver. While the cost of car insurance can vary based on many factors, the national average is approximately $135 per month for full coverage. However, there are several steps you can take to save on your car insurance, such as shopping around for the best rates and taking steps to reduce your risk. By taking the time to research and compare car insurance rates, you can save money on your car insurance and ensure that you are adequately covered.