How much is car insurance in USA?
How much is car insurance in USA? It’s important to shop around and compare quotes from different insurance companies to get the best rate. You can also consider raising your deductible to lower your premium. However, remember that a higher deductible means you will be responsible for a larger portion of the repair costs if you are in an accident.
How much is car insurance in USA?
The cost of car insurance in the USA varies greatly depending on several factors, including:
State:
Insurance costs vary significantly by state due to differences in regulations, traffic patterns, and accident rates. For example, Michigan typically has the highest car insurance rates due to its unlimited personal injury protection requirements, while Maine has some of the lowest rates in the country.
Driver:
Your age, driving record, credit score, and location all play a role in determining your insurance premium. Young drivers, drivers with accidents or speeding tickets, and those with poor credit tend to pay higher rates.
Coverage:
The level of coverage you choose significantly impacts your premium. Full coverage, which includes comprehensive and collision insurance, will be more expensive than state minimum liability coverage.
Vehicle:
The type of car you drive also affects your rates. Sports cars and luxury vehicles are generally more expensive to insure than sedans or minivans.
Other factors:
Other factors that can affect your insurance rates include your marital status, annual mileage, and whether you own a home.
Car insurance in USA
Here are some average car insurance costs in the USA:
National average:
Full coverage: $2,014 per year ($168 per month).
Minimum coverage: $52 per month.
Cheapest state for car insurance: Maine ($1,031 per year).
Most expensive state for car insurance: Michigan ($3,192 per year).
Average cost by age:
18-year-old: $5,388 per year.
25-year-old: $2,123 per year.
35-year-old: $1,555 per year.
55-year-old: $1,182 per year.