Average Car Insurance Cost By State
What is the average car insurance cost by state.
Average car insurance cost by state. The most expensive states for car insurance coverage. The average cost of a car insurance policy with full coverage is 2390 per year or 200 per month. Thats more than 105 every month. But other factors come into play too such as car insurance laws.
The main culprits for high prices in any state are the presence of a no fault insurance system a high population density and frequent car accidents. The average cost of a car insurance policy is 937 per year or 78 per month when averaged across states for our sample driver with a policy that meets the minimum requirements of each state. Average car insurance rates by state may vary based on legal regulations and insurance companies efforts to price accurately based on these differences. Based on reported rates from several state governing insurance departments and information from organizations such as the national association of insurance commissioners the national car insurance average rate is just above 900 per year of coverage.
That gap shows just how expensive michigan actually is when it comes to car insurance. Why is nj car insurance so expensive. However the exact cost of coverage varies from person to person so if youre wondering how much. The average state rate is comprised by averaging premiums for 2019 honda accord male driver age 30 with policy limits of 100300100 100000 for injury liability for one person 300000.
Continue reading for some important considerations to keep in mind when comparing your car insurance. Michigan is the most expensive with an average yearly premium of 3466 while maine is the cheapest at 1062. Compare average car insurance rates by zip code age gender and coverage level to see what you can expect to pay for coverage in your neighborhood. Thats the short answer.
Texas moved up to the fourth spot and california is now the fifth most expensive state in the country for car insurance. For instance drivers in no fault states such as michigan and florida often pay more for insurance than do drivers in other areas of the country. Generally states that are more urban or have large populations tend to have higher average car insurance costs than rural states. National average car insurance rates.
The average annual cost of car insurance in the united states is 1416 according to the data in our study. For one its an urban state with lots of traffic. More drivers means more accident claims which spikes costs. The average cost of car insurance in the united states is 1758 per year for full coverage.
One of the most significant determinants of car insurance prices is your home state.