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Car insurance premiums are extremely individualized which makes it hard to know how much you’ll pay before getting a quote. But there are some rules of thumb to help you get a general sense for pricing.
For example, if you have a history of driving under the influence, your car insurance cost will be much more expensive than someone with a clean driving record. But there are many more factors that determine your car insurance price, including your age, where you live and driving history.
This makes it tough to estimate your individual auto insurance quote. But there are some general rules of thumb that can help you get a better idea of what to expect. For example, a sports car typically costs more to insure than a minivan. Likewise, younger drivers can generally expect higher car insurance premiums than older drivers. And a driver with a DUI or speeding tickets may have higher rates than one with a clean record.
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Here’s a breakdown of the average cost of car insurance by various factors, including age, state, company and driving record.
A 40-year old male or female driver with a clean driving record and good credit in the US can expect to pay an average of $1,771 per year, or about $148 monthly, for full coverage car insurance. The minimum insurance cost — the bare bones you’d need to purchase to drive legally in your state — is $545 per year on average.
These are averages across all categories. You’ll probably end up falling somewhere above or below these numbers, depending on your particular situation. Let’s break down the various factors.
Insurance providers must work with each state when setting rates. State insurance departments typically need to approve the carrier’s rates beforehand, so insurance costs vary from state to state.
Here are the five most expensive states for car insurance:
And here are the five cheapest states for car insurance:
Age is one of the biggest factors determining your car insurance cost. Generally, the older you get, the cheaper your car insurance bill. Car insurance policies for teens and young drivers are the costliest.
Premiums for teen drivers can be astronomical: The national average cost for adding a 16-year-old driver to a parent’s full coverage policy is $3,852 per year.
