Average Car Insurance Cost Per Month By Age And State

The Cost Of Car Insurance By Age

When it comes to car insurance, age is one of the most important factors. Studies show that the average cost of car insurance for people in the United States is around $1,500 per year. However, this amount can vary greatly depending on factors like age, driving history, and where you live.

On average, car insurance is most expensive for drivers in their teens and early twenties. This is because younger drivers are statistically more likely to be involved in a car accident, so insurance companies charge them higher premiums. According to the Insurance Information Institute, drivers in the 16-19 age range pay an average of $4,055 per year for car insurance. Drivers in their twenties pay about $2,500 per year on average.

As you get older, the cost of car insurance gradually decreases. Drivers in their thirties typically pay around $2,000 per year, while drivers in their forties only pay about $1,700. For drivers in their fifties and sixties, the cost of car insurance drops to around $1,300 per year on average.

The Cost Of Car Insurance By State

In addition to age, location can also have a big impact on the cost of car insurance. Some states are more expensive than others, so it pays to compare rates before you buy a policy.

The most expensive states for car insurance are Michigan, Louisiana, and Georgia, where drivers pay an average of $2,400 per year. Other states with high car insurance rates include Oklahoma, Delaware, and Rhode Island.

On the other hand, some states have much lower car insurance rates. The cheapest states for car insurance are Maine, Idaho, and Iowa, where drivers pay an average of just $1,000 per year. Other states with low car insurance rates include New Hampshire, Wisconsin, and Vermont.

Factors That Affect Car Insurance Rates

In addition to age and location, there are a few other factors that can affect the cost of car insurance. For example, insurance companies look at the type of car you drive and its safety record. If you drive a car that is more likely to be involved in an accident, you may pay higher premiums.

Insurance companies also consider driving history when determining car insurance rates. If you have a clean driving record, you will likely pay lower premiums than someone with a history of traffic violations or accidents.

Finally, some insurance companies offer discounts for drivers who take certain safety courses or install safety devices in their cars. If you are willing to invest in these measures, you may be able to lower your car insurance premiums.

Tips For Finding The Best Car Insurance Rates

Finding the best car insurance rates can be tricky, but there are a few steps you can take to get the best deal.

First, shop around and compare rates from different companies. Don’t just settle for the first policy you find. Take the time to look at different policies and see which ones offer the best coverage at the lowest cost.

Second, consider different types of coverage and make sure you get the right amount for your needs. Don’t just buy the minimum coverage required by your state. Consider adding extra coverage for additional protection.

Finally, don’t be afraid to ask for discounts. Many insurance companies offer discounts for drivers with clean records or for those who install safety devices in their cars. Ask your insurance agent about any discounts you may be eligible for.

Conclusion

The cost of car insurance can vary greatly depending on your age, location, and other factors. On average, car insurance is most expensive for drivers in their teens and early twenties, and it gradually decreases as you get older. Location also affects the cost of car insurance, with some states being more expensive than others.

When shopping for car insurance, it pays to compare rates from different companies and look for discounts. With a little bit of effort, you can find the best car insurance rates and save money on your premiums.