How Much Is Car Insurance – Are you struggling to choose the right auto insurance policy for your needs? Look no further! In this comprehensive guide, we will walk you through the process of finding the perfect insurance coverage that fits your unique requirements. Whether you’re a new driver, a seasoned car owner, or simply looking to switch providers, we’ve got you covered. Finding the right auto insurance policy can be overwhelming, with so many options and factors to consider. That’s why we’ve compiled expert advice and insider tips to help you make an informed decision. We’ll explore key factors such as coverage types, deductibles, premiums, and additional features that you should keep in mind while selecting a policy. We understand that each individual has different needs and priorities when it comes to insuring their vehicle. Our goal is to simplify the process by providing you with the knowledge and tools necessary to make the best choice for your specific circumstances. Don’t compromise on your auto insurance coverage! Read on to discover how much is car insurance and how to choose the right policy to protect you and your car on the road.
The average cost of auto insurance in the U.S. is around $1,099 per year (or about $92 per month), according to a report from the National Association of Insurance Commissioners. The report, from December 2017, comprises the NAIC’s most recent data.
Per NAIC, Americans pay around $538.73 a year for liability insurance (which includes bodily injury liability and property damage liability), $322.61 for collision coverage, and $148.04 for comprehensive coverage. If you have no idea what any of that jargon means, we have a handy explainer on how car insurance works. Some of the other components of car insurance include personal injury protection (PIP), which protects you and your passengers, and uninsured motorist coverage, for when the other party doesn’t have insurance coverage.
Auto insurance rates vary by age as well.
That’s understandable, as insurance companies deem younger drivers as a bigger accident risk than older drivers. The younger set is more likely than other demographics to get in an accident, get a speeding ticket, and get cited for driving under the influence.
In the Value Penguin report, teenage drivers pay four times the auto insurance rates paid by the next younger demographic – U.S. drivers in their 20s. Dollar-wise, that “risk” gap can really cost teen drivers. Consider that the average 16-year-old U.S. driver pays $344.78 a month compared to a 25-year-old driver who only has to pay $118.89 a month for vehicle insurance.
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