How Much Is Monthly Car Insurance?

Getting car insurance is one of the first steps to becoming a car owner. Car insurance is an important protection for you and your car, but it can also be costly. If you’re wondering “How much is monthly car insurance?” the answer might surprise you. There are many factors that go into determining the cost of your car insurance, so let’s break it down.

Factors That Affect Your Monthly Car Insurance Costs

When you’re shopping for car insurance, there are many factors that go into determining the cost of your coverage. Some of the most important factors include:

Your location
Your vehicle
Your driving record
Your age and gender
Your marital status
Your credit score
The type of coverage you choose

These are all factors that car insurance companies consider when calculating a rate for you. Your location is especially important, because insurance costs vary from state to state. For example, the cost of insurance in New York is typically much higher than the cost of insurance in California.

Average Monthly Car Insurance Rates

Now that you know some of the factors that go into determining the cost of your car insurance, you might be wondering what the average monthly rate is. According to the Insurance Information Institute, the average cost of car insurance in the United States is $1,555 per year, or about $130 per month. However, the exact cost of your car insurance will depend on the factors mentioned above.

How To Lower Your Monthly Car Insurance Costs

If you’re looking for ways to lower your monthly car insurance costs, there are a few things you can do. First, you can shop around for different insurance companies and compare rates. You might be surprised by the difference in rates between different insurers. You can also look for discounts, such as good driver discounts or discounts for having multiple cars on the same policy.

You can also consider raising your deductible. A higher deductible means that you’ll be responsible for more of the costs of a claim, but it also means that your monthly premiums will be lower. Finally, you can consider dropping certain types of coverage, such as comprehensive or collision coverage, if you don’t need them. Just be sure that you still have enough coverage to protect yourself in the event of an accident.

Conclusion

If you’re wondering “How much is monthly car insurance?” the answer will depend on many factors, including your location, vehicle, driving record, and more. On average, car insurance costs about $130 per month in the United States. However, you can lower your monthly premiums by shopping around for different insurers, looking for discounts, and raising your deductible. Be sure to still have enough coverage to protect yourself in the event of an accident.