- How much is car insurance per month by company?
- Average monthly car insurance rates by state
- What factors impact the cost of car insurance?
- Average monthly car insurance rates by age
- Monthly car insurance cost by driver profile
- Monthly car insurance cost by vehicle type
- How to estimate monthly car insurance costs
- FAQ
How much is car insurance per month by company?
Car insurance rates vary greatly by company. Regardless of where you buy, however, state minimum liability insurance – the least amount of insurance you can legally buy in your state – is the cheapest way to go. The average cost of a state minimum policy is $28 - $58 per month. The state legal minimum does not include collision or comprehensive, however. This means your car is not covered for things like accidents, vandalism or storm damage.
If you go for full coverage insurance, you’ll pay, on average, $115 - $209 a month. USAA has the overall cheapest rates for full coverage car insurance at $115 per month but is only available to military members and their families. The next cheapest carrierAn insurance carrier is the company that provides your car insurance policy and pays claims. for full coverage is Nationwide at $129 a month, available to everyone. Full coverage encompasses liability coverage and anything else you need to satisfy your state’s legal requirements as well as collision and comprehensive. This means you’ll be covered if you cause damage to someone else’s property or vehicle or cause them physical harm. Also, your own vehicle will be covered for repairs for a variety of reasons.
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 |
| USAA | $28 | $36 | $115 | $15 |
| Progressive | $46 | $59 | $166 | $45 |
| Farmers | $58 | $83 | $199 | $41 |
| Nationwide | $44 | $54 | $129 | $41 |
| Travelers | $43 | $54 | $134 | $28 |
Average monthly car insurance rates by state
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. 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.
| State | Average monthly rate | National average |
|---|---|---|
| Alaska | $140 | $158 |
| Alabama | $155 | $158 |
| Arkansas | $163 | $158 |
| Arizona | $151 | $158 |
| California | $201 | $158 |
| Colorado | $195 | $158 |
| Connecticut | $144 | $158 |
| Washington, D.C. | $180 | $158 |
| Delaware | $172 | $158 |
| Florida | $224 | $158 |
| Georgia | $164 | $158 |
| Hawaii | $126 | $158 |
| Iowa | $136 | $158 |
| Idaho | $119 | $158 |
| Illinois | $128 | $158 |
| Indiana | $126 | $158 |
| Kansas | $158 | $158 |
| Kentucky | $186 | $158 |
| Louisiana | $240 | $158 |
| Massachusetts | $144 | $158 |
| Maryland | $145 | $158 |
| Maine | $98 | $158 |
| Michigan | $196 | $158 |
| Minnesota | $159 | $158 |
| Missouri | $165 | $158 |
| Mississippi | $167 | $158 |
| Montana | $183 | $158 |
| North Carolina | $145 | $158 |
| North Dakota | $139 | $158 |
| Nebraska | $159 | $158 |
| New Hampshire | $105 | $158 |
| New Jersey | $159 | $158 |
| New Mexico | $171 | $158 |
| Nevada | $172 | $158 |
| New York | $156 | $158 |
| Ohio | $118 | $158 |
| Oklahoma | $178 | $158 |
| Oregon | $140 | $158 |
| Pennsylvania | $156 | $158 |
| Rhode Island | $172 | $158 |
| South Carolina | $167 | $158 |
| South Dakota | $190 | $158 |
| Tennessee | $140 | $158 |
| Texas | $170 | $158 |
| Utah | $152 | $158 |
| Virginia | $122 | $158 |
| Vermont | $110 | $158 |
| Washington | $134 | $158 |
| Wisconsin | $139 | $158 |
| West Virginia | $167 | $158 |
| Wyoming | $146 | $158 |
*Some state rates will vary based on the addition of a hurricane deductibleThe deductible is the amount you pay out of pocket for a covered loss when you file a claim. and may be much higher when included.
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.
Average monthly car insurance rates 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
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 premiumThe payment required for an insurance policy to remain in force. Auto insurance premiums are quoted for either 6-month or annual policy periods. 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 lapseWhen your auto insurance coverage ends because you missed a payment or did not renew it on time. A lapse in auto insurance coverage may result in paying higher premiums for a new policy. and having poor or fair credit can increase your rates.
| Driver profile | Average monthly premium for the profile | Average annual premium for the profile |
|---|---|---|
| 2 At-fault property damage accidents over $2k | $353 | $4,232 |
| At-fault accident | $250 | $3,004 |
| Poor credit | $343 | $4,121 |
| Careless driving | $239 | $2,867 |
| Claims | $186 | $2,234 |
| Distracted driving ticket | $213 | $2,550 |
| Driving without a license or permit | $215 | $2,582 |
| Driving without insurance | $207 | $2,479 |
| DUI | $321 | $3,848 |
| DUI/DWI second offense | $484 | $5,804 |
| Failure to stop | $208 | $2,490 |
| Failure to yield | $207 | $2,485 |
| Fair credit | $202 | $2,422 |
| Following too closely | $208 | $2,501 |
| Hit and run - injury | $323 | $3,880 |
| Hit and run - property damage | $311 | $3,728 |
| Improper turn | $208 | $2,491 |
| Improper/illegal pass | $208 | $2,491 |
| Lapse of coverage | $205 | $2,456 |
| Operating a vehicle in a race (highway racing) | $316 | $3,793 |
| Passing stopped school bus | $215 | $2,579 |
| Reckless driving | $302 | $3,628 |
| Seatbelt infraction | $209 | $2,507 |
| Single-vehicle accident | $247 | $2,960 |
| Speeding | $219 | $2,630 |
| Talking on cellphone ticket | $208 | $2,498 |
| Texting ticket | $209 | $2,504 |
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 carrier looks at the vehicle's safety features, its age, and the replacement cost 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 | Average monthly rate |
|---|---|
| Convertible | $231 |
| Electric | $233 |
| Hatchback | $165 |
| Hybrid | $192 |
| Luxury Car | $257 |
| Luxury SUV | $218 |
| Minivan | $163 |
| Performance SUV | $261 |
| Sedan | $177 |
| Sports Car | $269 |
| Station Wagon | $206 |
| SUV | $161 |
| Truck | $179 |
| Van | $150 |
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.
FAQ
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.
Can I lower my monthly car insurance premium without changing coverage?
To reduce your monthly premium, 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 claim, 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.
Helpful auto insurance tools and calculators
