- How much is car insurance per month by company?
- Average car insurance cost per month by state and company
- Monthly car insurance cost by age
- Monthly car insurance cost by driver profile
- Monthly car insurance cost by vehicle type
- What factors impact the cost of car insurance?
- How to estimate monthly car insurance costs
- FAQ: Monthly car insurance cost
How much is car insurance per month by company?
Monthly car insurance calculator
Top 5 most & least expensive cities for auto insurance in Florida
Most Expensive
| City | Highest monthly rate |
|---|---|
| Egypt Lake-Leto | $357 |
| Boynton Beach | $339 |
| Riviera Beach | $330 |
| Delray Beach | $327 |
| Palm River-Clair Mel | $322 |
Least Expensive
| City | Lowest monthly rate |
|---|---|
| Bonifay | $138 |
| Caryville | $139 |
| Westville | $139 |
| Graceville | $139 |
| Campbellton | $140 |
Car insurance rates vary by company and also by coverage level. The cheapest car insurance companies for a state minimum policy are GEICO at $34 a month on average, State Farm at $42 a month and Travelers at $43 a month. USAA is cheapest if you qualify at $28 a month.
For a full coverage policy with limits of 100/300/100 and $500 deductibles, Nationwide has the cheapest rates at $129 a month, followed by Travelers at $134 a month and GEICO at $147 a month. Again, USAA is the cheapest if you're eligible at $115 a month.
Remember, your personal rates may go up or down from the national average based on your age, gender, driving record and where you live.
| Company | State minimum BI/PD | Liability only - 50/100/50 BI/PD | Full coverage - 100/300/100 BI/PD - 500 comp/coll | Non-owners |
|---|---|---|---|---|
| GEICO | $34 | $47 | $147 | $28 |
| State Farm | $42 | $54 | $165 | $22 |
| Allstate | $58 | $71 | $209 | $53 |
| Progressive | $46 | $59 | $166 | $45 |
| Farmers | $58 | $83 | $199 | $41 |
| Nationwide | $44 | $54 | $129 | $41 |
| Travelers | $43 | $54 | $134 | $28 |
| USAA | $28 | $36 | $115 | $15 |
Average car insurance cost per month by state and company
The national monthly average cost is $158. California and Florida have two of the highest average monthly rates, at $201 and $224, respectively. Maine and New Hampshire have some of the cheapest rates, below the national average at $98 and $105, respectively.
Average car insurance rates vary by state as well as by age. Weather and claims trends in your region factor into rates as well as how many carriers are available. If an insurance company has experienced a huge number of claims due to natural disasters, for instance, they may deem it too risky to stay in that state and may stop writing policies or leave the state altogether. This can drive up costs.
Additionally, your age affects rates, with younger drivers paying more.
| Company | Monthly car insurance premium | Average 6-months premium |
|---|---|---|
| GEICO | $111 | $669 |
| State Farm | $143 | $857 |
| Progressive | $145 | $871 |
| Western National Insurance | $165 | $992 |
| Allstate | $176 | $1,057 |
| USAA | $97 | $583 |
Monthly car insurance cost by age
Teen drivers have some of the highest rates of all drivers. A 16-year-old will pay about $596 a month and a 19-year-old will pay about $344 a month. Prices start dropping as you get older. One reason is that more experienced drivers are considered less risky, so middle-aged drivers enjoy some of the lowest rates. A 50-year-old pays, on average, $149 per month for car insurance. Prices start to rise again when you’re a senior citizen, as older drivers are considered riskier due to impaired vision, hearing and reflexes. A 75-year-old will pay, on average, $167 per month and this increases even more as you age.
Take a look at the table below to see what you’ll pay, on average, at different ages
| Age | Male monthly premium | Male 6-month premium | Female monthly premium | Female 6-month premium |
|---|---|---|---|---|
| 16 | $628 | $3,771 | $563 | $3,379 |
| 17 | $523 | $3,137 | $469 | $2,816 |
| 18 | $462 | $2,771 | $413 | $2,478 |
| 19 | $364 | $2,185 | $324 | $1,942 |
| 20 | $329 | $1,971 | $295 | $1,768 |
| 21 | $269 | $1,615 | $247 | $1,479 |
| 22 | $247 | $1,483 | $229 | $1,375 |
| 23 | $230 | $1,378 | $215 | $1,292 |
| 24 | $216 | $1,297 | $204 | $1,227 |
| 25 | $191 | $1,147 | $185 | $1,112 |
| 30 | $168 | $1,009 | $167 | $1,003 |
| 35 | $162 | $975 | $162 | $972 |
| 40 | $158 | $949 | $158 | $948 |
| 45 | $156 | $934 | $156 | $935 |
| 50 | $149 | $897 | $149 | $893 |
| 55 | $146 | $873 | $144 | $864 |
| 60 | $144 | $863 | $142 | $854 |
| 65 | $146 | $877 | $144 | $865 |
| 70 | $155 | $931 | $152 | $910 |
| 75 | $171 | $1,024 | $164 | $986 |
Monthly car insurance cost by driver profile
If you have speeding tickets, accidents, DUIs or other moving violations on your driving record, your car insurance rates will increase. Credit history, too, can affect the cost of car insurance in most states.
A driver with two DUIs sees average annual rates of $5,804 which works out to $484 a month– that’s a whopping $326 more than the average monthly cost of car insurance. Getting a ticket for not wearing a seatbelt can raise your annual premium to $2,504 or $209 a month- that’s an extra $50 per month than the average.
Take a look at the table below to see how different items on your driving record affect car insurance premiums. Notice how letting your car insurance lapse and having poor or fair credit can increase your rates.
| Driver profile | Monthly car insurance premium | Average 6-month premium |
|---|---|---|
| 2 At-fault property damage accident over $2k | $353 | $2,119 |
| 2 comprehensive claims for over $2k | $209 | $1,252 |
| 2 speeding tickets 11 mph or over | $253 | $1,520 |
| Adding gap insurance | $163 | $978 |
| Adding rideshare endorsement | $192 | $1,154 |
| At-Fault Accident | $251 | $1,504 |
| Bad Credit | $344 | $2,063 |
| Careless driving | $239 | $1,435 |
| Claims | $186 | $1,118 |
| Distracted driving ticket | $213 | $1,276 |
| Driving without a license or permit | $215 | $1,293 |
| Driving without insurance | $207 | $1,241 |
| DUI | $321 | $1,926 |
| DUI/DWI second offense | $484 | $2,906 |
| Failure to stop | $208 | $1,246 |
| Failure to yield | $207 | $1,244 |
| Fair credit | $202 | $1,212 |
| Following too closely | $209 | $1,252 |
| Hit and run - injury | $324 | $1,943 |
| Hit and run - property damage | $311 | $1,866 |
| Improper turn | $208 | $1,247 |
| Improper/illegal pass | $208 | $1,247 |
| Lapse of coverage | $205 | $1,229 |
| Operating a vehicle in a race (highway racing) | $316 | $1,899 |
| Passing stopped school bus | $215 | $1,291 |
| Reckless driving | $303 | $1,816 |
| Seatbelt infraction | $209 | $1,255 |
| Single vehicle accident (so the drivers car only) | $247 | $1,482 |
| Speeding | $219 | $1,317 |
| SR22 Filing Only | $180 | $1,080 |
| SR22 with 1 DUI | $348 | $2,087 |
| Talking on cellphone ticket | $208 | $1,250 |
| Texting ticket | $209 | $1,253 |
Monthly car insurance cost by vehicle type
The type of vehicle you drive plays a major part in your car insurance rates. Why? Your insurance carrierAn insurance carrier is the company that provides your car insurance policy and pays claims. looks at the vehicle's safety features, its age, and the replacement costThe cost of replacing or repairing lost or damaged property with like kind and quality at today’s price without depreciation. of the parts. The most costly vehicle is a sports car, which costs about $269 a month to insure, while the cheapest is a van, which costs $150 a month.
Sports cars and luxury vehicles tend to be more expensive to insure because if they need repairs, the insurance company will have to pay more. Theft is also a consideration, and these cars statistically have a higher theft risk.
Take a look at the chart below to see the average monthly cost for different types of vehicles.
| Vehicle type | Monthly car insurance premium | Average 6-month premium |
|---|---|---|
| Electric | $265 | $1,587 |
| Hatchback | $195 | $1,168 |
| Hybrid | $215 | $1,289 |
| Luxury Car | $291 | $1,749 |
| Luxury SUV | $246 | $1,476 |
| Minivan | $193 | $1,158 |
| Performance Car | $352 | $2,115 |
| Performance SUV | $299 | $1,793 |
| Sedan | $200 | $1,202 |
| Sports Car | $294 | $1,765 |
| Station Wagon | $198 | $1,188 |
| SUV | $193 | $1,158 |
| Truck | $222 | $1,334 |
| Van | $181 | $1,086 |
What factors impact the cost of car insurance?
“There are several factors that go into determining car insurance rates,” says Cindy Baroway, executive director of risk management & insurance (RMI) program at the University of Colorado Denver, “including but not limited to:
- Driver’s motor vehicle record (points on driver’s license, types of offenses, etc.)
- Age
- Sex
- Marital status
- Type of car being insured
- Whether the car is garaged or not
- ZIP code
- Insurance score
- Annual miles driven
- Driver’s claims history
- Electric vehicle vs. gas-powered”
Insurance companies weigh each of these factors to determine risk. For instance, take your driving record. The more speeding tickets or moving violations you rack up, the more of a risky driver the insurance carrier considers you. This means higher premiums. Age and gender also play a role, as statistics show they will affect your risk of a car accident.
Where you live matters, too. Insurance companies look at the weather, traffic and crime patterns of your area and assess the risk and claims history. More activity in any of these areas usually means higher rates.
Depending on your insurance carrier, certain factors are weighed more heavily than others. It’s a good idea to shop around for multiple quotes because the prices will vary from carrier to carrier.
Below, we’ll break down monthly car insurance rates based on the factors that influence costs.
How to estimate monthly car insurance costs
One of the easiest ways to estimate your monthly car insurance costs is to use an online car insurance calculator. With a few pieces of information such as your ZIP code, the make and model of your car and the amount of coverage you want, you can compare quotes.
Shopping around with multiple carriers can help you find the best deal. Don’t settle for the first quote, compare and contrast a few different ones to see if one carrier saves you money over another.
Can I lower my monthly car insurance premium without changing coverage?
To reduce your monthly premiumThe payment required for an insurance policy to remain in force. Auto insurance premiums are quoted for either 6-month or annual policy periods., Baroway suggests the trying following:
- Keep your record clear of tickets, accidents and other issues
- Increase your deductibles
- Take driver training courses (usually age-dependent—for new drivers such as high schoolers or for older drivers)
- Have a good insurance score (credit history)
One of the best and easiest things you can do is drive safely and obey all posted traffic signs. Any tickets or moving violations on your driving record will increase your rates, sometimes significantly.
Increasing your deductible can reduce your monthly premium. However, you will owe more upfront if you file a claimAn insurance claim is a request you make to your insurance company for coverage after your car is damaged or you have an accident. You can file a claim online, by phone, or in writing., so keep that in mind.
Some insurance companies will give discounts if you take defensive driving courses– always ask if this is an option for you.
It’s a good idea to periodically check your driving record to make sure there are no errors and that any violations have dropped off after the appropriate time period.
FAQ: Monthly car insurance cost
Does paying monthly cost more than paying annually?
The monthly cost of car insurance is generally the same as paying annually unless your car insurance company gives a discount for paying in full. Be sure to ask if they offer this type of discount. Some companies charge a fee to pay in monthly installments, however, so it’s important to ask.
What’s the cheapest type of car insurance I can get?
The cheapest type of car insurance you can get is the state minimum liability insurance, which is just enough coverage to satisfy your state’s legal requirements for getting on the road. Remember, this type of coverage doesn’t cover your vehicle for any repairs if you get in an accident, if a rock hits your windshield or if your car is stolen or vandalized.
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