Car Insurance Yearly Cost
The national average cost of car insurance is 1427 per year according to nerdwallets 2020 rate analysis.
Car insurance yearly cost. We researched average auto insurance costs based on various driver profiles and rates fielded from up to six major car insurance companies in every state. What is the average cost of car insurance. Was just over 1000 in 2017 according to the latest data available to the insurance information institute. Thats an increase of more than 5 compared to 2019s national average of 1470.
The average cost of a car insurance policy with full coverage is 2390 per year or 200 per month. Thats 293 per six month policy or about 14650 per month. The long answer is that the average cost depends on a variety of key factors many of which weve outlined in the sections below. The average annual cost of car insurance in the united states is 1416 according to the data in our study.
State minimum what you need to drive a car legally in your state. The average cost of car insurance is 146 a month or 1758 per year for a full coverage policy. The average annual cost of car insurance in the us. Liability car insurance 50000 limit to cover bodily injury you cause to others in an accident up to 100000 per accident with 50000 to pay for damage you cause to another car or property.
That works out to an average car insurance rate of about 119 per month for 40 year old. Across the us the average annual premium is 1548 or 129 per month. However knowing that statistic wont necessarily help you figure out how much you will be paying for your own coverage. Rates vary significantly and theyre based on personal details.
Thats the short answer.