Average Cost of Car Insurance (2024)
The average cost of car insurance fluctuates based on a driver’s age, the state they live in, their driving record, and even the type of vehicle they drive. On average, a driver can expect to pay anywhere between $80-$200 a month for full coverage.
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Jeff Root
Licensed Insurance Agent
Jeff is a well-known speaker and expert in life insurance and financial planning. He has spoken at top insurance conferences around the U.S., including the InsuranceNewsNet Super Conference, the 8% Nation Insurance Wealth Conference, and the Digital Life Insurance Agent Mastermind. He has been featured and quoted in Nerdwallet, Bloomberg, Forbes, U.S. News & Money, USA Today, and other leading...
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UPDATED: Apr 1, 2024
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Editorial Guidelines: We are a free online resource for anyone interested in learning more about insurance. Our goal is to be an objective, third-party resource for everything insurance related. We update our site regularly, and all content is reviewed by insurance experts.
UPDATED: Apr 1, 2024
It’s all about you. We want to help you make the right coverage choices.
Advertiser Disclosure: We strive to help you make confident insurance decisions. Comparison shopping should be easy. We are not affiliated with any one insurance provider and cannot guarantee quotes from any single provider.
Our insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different insurance companies please enter your ZIP code on this page to use the free quote tool. The more quotes you compare, the more chances to save.
On This Page
- Factors that are considered when your car insurance rates are set will include your age, your location, and the type of vehicle you drive
- The average cost of car insurance will depend on whether you’re looking for minimum or full coverage
- Each state has a varying level of required car insurance, with New Hampshire being the only exception
The cost of car insurance will be different depending on the factors used to calculate your payment. Your location, age, and the type of vehicle you drive will all determine how much your monthly payments will be. On average, within the U.S. drivers can expect to pay around $147 each month.
There are also factors that you choose that will affect how much you pay for car insurance, such as the insurance companies you research, and the level of coverage you want for your vehicle. With the more car insurance coverage you purchase, the average cost of full coverage is more than double that of standard car insurance in some cases.
How much does car insurance cost each month?
The amount you’ll pay for auto insurance is going to depend on the level of coverage you want. Full coverage car insurance often includes higher levels of liability coverage and other additional protection, while minimum coverage typically costs less and covers less. For full coverage car insurance, a 30-year-old male driver with a clean record will pay $138.81 each month on average. This amount changes based on which auto insurance company is used.
Average Monthly Full Coverage vs. Liability-Only Coverage Car Insurance Rates by Company
Companies | Full Coverage Car Insurance Rates | Liability-Only Car Insurance Rates |
---|---|---|
USAA | $161 | $82 |
Geico | $179 | $91 |
American Family | $224 | $114 |
Nationwide | $229 | $117 |
State Farm | $235 | $120 |
Average | $260 | $133 |
Progressive | $283 | $144 |
Travelers | $287 | $147 |
Farmers | $288 | $147 |
Allstate | $318 | $162 |
Liberty Mutual | $398 | $203 |
Read more:
- What happens if I disagree with Liberty Mutual’s decision on my car insurance claim?
- What happens if I disagree with Allstate’s decision on my car insurance claim?
Geico car insurance is the cheapest with an average of $86.79. State Farm car insurance comes next with a monthly average of $102.85, and from there it becomes a gap between the other companies. Progressive, Nationwide, and American Family all cost around $135 each month, and the most expensive becomes Liberty Mutual with a monthly average of $199.56.
Keep in mind this is for full coverage, which usually includes collision and comprehensive insurance and higher overall liability limits. If you’re looking for the minimum amount of car insurance coverage, this is going to vary by state. However, it will always be less expensive given the reduction in overall protection you will have.
The overall national average will be $52.66 for a minimum coverage car insurance policy. Geico is the cheapest, at $32.32 each month, with State Farm in second at a monthly average of $39.39. Liberty Mutual is the most expensive, with a monthly average of $77.24.
The details of a minimum coverage policy are based on the individual insurance company, which means you’ll need to know if it will meet your state’s mandated requirements.
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How does age affect the average cost of car insurance?
As mentioned above, the average cost of car insurance by age will also be used to determine your car insurance rates but it should be noted that it’s one of the factors that affect car insurance rates. The younger you are, the more you’ll pay for auto insurance. An older, experienced driver with a clean record is seen as less of a risk on the road.
Young drivers who lack experience are more at risk for reckless driving, which could lead to accidents. Insurance companies will charge a higher premium to be able to recoup costs should a young driver have to file a claim.
Looking at a 16-year-old male driver with a clean record, the monthly average is an astonishing $618.49 per month. In comparison, the 30-year-old was only paying $138.81 each month for full coverage.
Average Full Coverage Monthly Car Insurance Rates by Age, Gender and Marital Status
Driver Type | Average Geico Rates | Average American Family Rates | Average Farmers Rates | Average Allstate Rates | Average Liberty Mutual Rates |
---|---|---|---|---|---|
Single 17-Year-Old Female | $471.13 | $499.71 | $710.16 | $773.52 | $968.42 |
Single 17-Year-Old Male | $523.25 | $677.54 | $762 | $886.88 | $1143.22 |
Single 25-Year-Old Female | $198.24 | $190.72 | $245.57 | $285.41 | $329.97 |
Single 25-Year-Old Male | $188.57 | $224.56 | $253.45 | 4297.58 | $375.26 |
Married 35-Year-Old Female | $191.91 | $183.56 | $213.08 | $263.01 | $316.9 |
Married 35-Year-Old Male | $192.7 | $185.36 | $213.15 | $260.25 | $321.4 |
Married 60-Year-Old Female | $186.72 | $166.08 | $194.73 | $242.78 | $287.08 |
Married 60-Year-Old Male | $190.29 | $167.87 | $204.03 | $249.22 | $306.71 |
Geico remains the cheapest option, cutting the average in half by charging around $311.92 each month. Progressive becomes the most expensive option, charging $813.86 each month for full coverage. Comparison shopping for a young driver is going to be the best way to save money on auto insurance.
Read more:
- Average Car Insurance Rates by Age and Gender
- Will my insurance premium increase if I file a car insurance claim with Geico?
How much is car insurance by state?
Each state is going to want different amounts of car insurance coverage but it’s ultimately up to you to decide what type of car insurance you want. The only state that does not require car insurance is New Hampshire, however, you must prove you have the finances to pay for bodily injury and property damage in the event of an accident so it’s often suggested that you carry insurance even though it’s not mandatory.
The average monthly rate based on the state is around $136.05 per month. Each state is going to have requirements for drivers to be road legal. Varying levels of liability coverage are often required to help pay for any bodily injury or property damage done in the event of an accident.
Below we look at the average cost of car insurance in different states.
Average Monthly Car Insurance Rates by Coverage Type
States | Average Monthly Liability Rates | Average Monthly Collision Rates | Average Monthly Comprehensive Rates | Average Monthly Full Coverage Rates |
---|---|---|---|---|
Alabama | $37 | $28 | $14 | $79 |
Alaska | $47 | $31 | $12 | $90 |
Arizona | $48 | $25 | $16 | $89 |
Arkansas | $36 | $29 | $17 | $82 |
California | $45 | $36 | $8 | $88 |
Colorado | $49 | $25 | $17 | $91 |
Connecticut | $59 | $32 | $11 | $102 |
Delaware | $69 | $28 | $11 | $107 |
District of Columbia | $58 | $41 | $19 | $118 |
Florida | $76 | $26 | $11 | $113 |
Georgia | $55 | $30 | $14 | $98 |
Hawaii | $39 | $27 | $9 | $75 |
Idaho | $32 | $20 | $10 | $62 |
Illinois | $40 | $27 | $11 | $77 |
Indiana | $34 | $22 | $11 | $67 |
Iowa | $27 | $19 | $16 | $62 |
Kansas | $32 | $23 | $21 | $76 |
Kentucky | $47 | $24 | $12 | $83 |
Louisiana | $73 | $37 | $19 | $128 |
Maine | $30 | $23 | $9 | $62 |
Maryland | $55 | $31 | $13 | $100 |
Massachusetts | $52 | $34 | $12 | $98 |
Michigan | $72 | $37 | $13 | $121 |
Minnesota | $39 | $20 | $16 | $76 |
Mississippi | $41 | $29 | $18 | $88 |
Missouri | $38 | $24 | $16 | $79 |
Montana | $34 | $23 | $21 | $77 |
Nebraska | $33 | $21 | $20 | $74 |
Nevada | $64 | $27 | $10 | $100 |
New Hampshire | $35 | $26 | $9 | $70 |
New Jersey | $76 | $33 | $11 | $119 |
New Mexico | $44 | $24 | $15 | $84 |
New York | $71 | $34 | $15 | $120 |
North Carolina | $31 | $26 | $11 | $67 |
North Dakota | $25 | $22 | $20 | $67 |
Ohio | $35 | $24 | $10 | $69 |
Oklahoma | $40 | $27 | $20 | $88 |
Oregon | $53 | $20 | $8 | $81 |
Pennsylvania | $43 | $29 | $13 | $85 |
Rhode Island | $68 | $36 | $11 | $116 |
South Carolina | $50 | $24 | $16 | $89 |
South Dakota | $26 | $19 | $24 | $69 |
Tennessee | $37 | $27 | $13 | $77 |
Texas | $49 | $33 | $19 | $101 |
Utah | $45 | $23 | $10 | $78 |
Vermont | $30 | $26 | $11 | $68 |
Virginia | $38 | $25 | $12 | $74 |
Washington | $53 | $24 | $9 | $86 |
West Virginia | $43 | $28 | $18 | $88 |
Wisconsin | $33 | $20 | $12 | $65 |
Wyoming | $29 | $24 | $23 | $75 |
National Average | $48 | $29 | $13 | $90 |
Geico is once again the cheapest option, with the average monthly cost of car insurance at $86.79. Liberty Mutual is more than double Geico, with a monthly average cost of $199.56. Next comes Allstate at $176.48 each month, which is only slightly more expensive than Farmers where a policy will cost $167.16 each month.
Progressive, State Farm, and American Family are all on the lower end of the price list but are still higher than Geico.
Average Cost of Car Insurance by Insurance Company
In terms of which company will be the cheapest, it will depend on which state you live in and how old you are when you’re shopping for coverage. However, Geico and State Farm tend to be on the cheaper side, with Liberty Mutual, Farmers, and Allstate all leaning toward the more expensive.
For a 30-year-old male driver with a clean record, Geico offers a monthly cost of $86.79, and State Farm comes second with a monthly average of $102.85. These rates increase significantly the younger the driver and decrease as the driver becomes older.
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What other factors affect your car insurance rates?
There are several factors that affect your car insurance rates other than your age and location. Your credit score can be used, and your driving record will also affect your car insurance rates. If you need bad driving record car insurance, it will cost more. Age is often a major deciding factor, while gender is being used less and less.
The type of vehicle you drive will also be considered, as will the number of miles you drive. Someone who works from home will drive less than a person who commutes and will be on the road less because of this fact. Insurance companies often look at everything that could result in a potential incident to assess the risk factor of a driver.
Average Car Insurance Cost by Vehicle
Driving a new car comes with a higher price tag on its own, but insurance will also cost more. With the value of a vehicle decreasing over time, older models tend to be cheaper to insure. The newer the vehicle, the higher the cost to repair will be unless you’re driving a classic or collector’s edition model. However, those types of cars tend to need separate classic car insurance given the scarcity of parts and difficulties with repairing them.
Your car might be on the list of hot ticket vehicles when it comes to theft and vandalism, which will also make it more expensive to insure. Vehicles with higher amounts of technology, nicer radios, and right-off-the-lot parts can become targets for thieves.
Does your driving history affect how much you pay for car insurance?
Drivers who have infractions on their driving records will see an increased average cost of car insurance. Things such as a DUI or an accident can impact what you pay because you become labeled as a liability to insurance carriers.
A 45-year-old male with a DUI will see an average cost of $208.94 monthly, which is going to be $70.13 more than a 30-year-old driver with a clean record. Despite the age gap, it would still be more because a DUI will increase rates no matter your age.
There are varying degrees of the severity of an infraction as shown by the fluctuation in rates. Below are prices based on a driver of the same age with different driving records.
Average Monthly Car Insurance Rates by Company and Driving Record
Companies | Monthly Rates with a Clean Driving Record | Monthly Rates w/ One Accident | Monthly Rates w/ One DUI Conviction | Monthly Rates w/ One Speeding Violation |
---|---|---|---|---|
USAA | $161 | $210 | $292 | $183 |
Geico | $179 | $266 | $406 | $220 |
American Family | $224 | $310 | $361 | $252 |
Nationwide | $229 | $283 | $379 | $259 |
State Farm | $235 | $283 | $303 | $266 |
Progressive | $283 | $398 | $331 | $334 |
Travelers | $287 | $357 | $478 | $355 |
Farmers | $288 | $377 | $393 | $340 |
Allstate | $318 | $416 | $522 | $374 |
Liberty Mutual | $398 | $517 | $634 | $475 |
If you have a ticket or an accident on your driving record, you’ll still see an increase in your rates, but it won’t be as steep as the increase after a DUI. Learn more about the best insurance companies for people with accidents.
Will your gender affect how much you pay for car insurance?
Your gender will affect what you pay for car insurance, with women paying less than men on average. However, age is still the larger deciding factor, as older drivers don’t typically see much of a gap dependent on their gender once they reach a certain age.
Does your credit score affect your car insurance rates?
Your credit score can be one of the pieces of information used by insurance companies. A driver with an above-average credit score will see lower rates than someone with average or below-average credit.
When you have good credit, insurance companies take this to mean that you will be able to pay your bill on time and that you will continue to do so for the duration of your policy.
Does your marital status affect your car insurance rates?
Married drivers see the same benefit as drivers with good credit, meaning that car insurance companies look at married drivers as being low-risk investments. When it comes to a single driver, full coverage insurance could cost them more each month than a married driver.
Why do car insurance rates vary?
There are a wide number of reasons why the average cost of car insurance will vary. According to the Insurance Information Institute, not only do car insurance companies look at the model you’re driving to check its age but also to determine how much damage it could potentially cause within a collision.
Each factor—age, location, vehicle, driving record—has other factors attached to it for several safety concerns.
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How can you get the most affordable car insurance rates?
By comparison shopping for car insurance, you can find the best and most affordable car insurance rates currently being offered. Different companies will offer different perks, discounts, and additional coverage choices. Never hesitate to ask what discounts are available as well, and it’s never a bad idea to check in from time to time with your insurance provider on whether or not rates can be lowered according to market prices.
You can also check to see if bundling is offered. Having more than one type of insurance policy through a single insurance company is a great way to save money. Combining insurance policies is also true in this way, as having multiple people on a policy will often be cheaper than each individual having their own coverage. Keep in mind that if there is going to be a young driver included, rates might increase.
Average Cost of Car Insurance: Case Studies on Real-World Scenarios and Savings
Case Study 1: Minimum Coverage Savings
John, a young driver in West Virginia, was determined to find the most affordable car insurance option. After comparing quotes from different insurance companies, he discovered that Erie offered the cheapest rates for minimum coverage.
By opting for a liability-only policy from Erie, John was able to save approximately $1,059 per year on his car insurance compared to other companies.
Case Study 2: Full Coverage for Less
Sarah, a middle-aged driver, desired comprehensive coverage for her new vehicle without breaking the bank. Through extensive research of different insurance providers, she found that Nationwide offered the most affordable rates for full coverage in West Virginia.
By choosing Nationwide, Sarah secured a full coverage policy at an annual cost of $1,216, saving her money while ensuring adequate protection.
Case Study 3: Improving Credit Impact
Mark, a West Virginia resident with a poor credit score, was concerned about its impact on his car insurance rates. Taking proactive steps to improve his credit, he paid off debts and managed his finances responsibly.
After a year of improvement, Mark requested new quotes from various insurers and found that Geico offered the best rates for his improved credit score. By taking measures to boost his credit, Mark successfully lowered his car insurance premiums by $40 per month.
Average Cost of Car Insurance: The Bottom Line
The average cost of car insurance is going to change based on a wide number of given factors, such as your age, your location, and the type of vehicle you drive. Drivers who maintain good credit and clean driving records will see lower overall insurance rates, while teenage drivers and people with infractions on their driving history will often pay more for coverage.
However, it’s best to remember that it’s a large market with plenty of choices for money-conscious drivers. By obtaining multiple quotes from different insurance companies, you can evaluate which policy will be the most affordable and will also keep you and your vehicle the safest.
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Frequently Asked Questions
Is there a difference between minimum and full coverage car insurance?
Minimum car insurance coverage is often required by states to insure you’re road legal. However, you can always choose to purchase more, which is considered full coverage car insurance. Full coverage often includes both collision and comprehensive, as well as higher limits of liability.
Will you pay less for car insurance after your car is paid off?
This is one piece of information that isn’t taken into consideration by insurance companies. Instead, if you’re still paying on your vehicle, companies may prefer that you carry both collision and comprehensive insurance until it’s been paid off completely.
Is car insurance more expensive for a new driver?
Car insurance will always be more expensive for a new driver. Since they lack experience, a new driver is seen as a high-risk asset.
Will you pay less for car insurance as you get older?
Yes, but only until a certain point. Once you become a senior, you may start to see an increase in car insurance rates from various carriers.
Which car insurance company is the cheapest?
Geico consistently has the lowest rates among age groups, but it will depend on your specific situation.
Is full coverage more expensive than minimum coverage?
Full coverage will cost more than minimum coverage because there is more included. Often it can be nearly double what you would pay for the minimum amount car insurance coverage.
Are you looking for free insurance quotes?
Your one-stop online insurance guide. Get free quotes now!
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Jeff Root
Licensed Insurance Agent
Jeff is a well-known speaker and expert in life insurance and financial planning. He has spoken at top insurance conferences around the U.S., including the InsuranceNewsNet Super Conference, the 8% Nation Insurance Wealth Conference, and the Digital Life Insurance Agent Mastermind. He has been featured and quoted in Nerdwallet, Bloomberg, Forbes, U.S. News & Money, USA Today, and other leading...
Licensed Insurance Agent
Editorial Guidelines: We are a free online resource for anyone interested in learning more about insurance. Our goal is to be an objective, third-party resource for everything insurance related. We update our site regularly, and all content is reviewed by insurance experts.