How much is car insurance in the U.S? Average Cost of Car Insurance in 2021
If you’re wondering how much auto insurance costs, well the answer is “it depends.” Prices are based on your zip code, driving history, age, marital status, credit score, flight selection, insurance history, how much coverage you decide to purchase and a host of other things, so, unless you have entered most of that information to compare car insurance rates Hard to estimate with certainty.
But if you’re just trying to get a rough figure on how much people pay for coverage, you’re in luck. The average cost of auto insurance in the United States is about $ 1,134 a year (or about $ 94 a month), according to a report from the National Association of Insurance Commissioners. The report includes, as of January 2020, the latest NAIC data.
Across the country, the average cost of auto insurance is $ 1,134 a year, or about $ 94 a month
The most expensive states for auto insurance are Louisiana, Michigan, New York, Rhode Island, and Washington, DC, while the least expensive states include Maine, Idaho, Iowa, Wisconsin and North Dakota.
Small sedans are the most expensive cars insured, with an annual cost of $ 1,342, while small SUVs cost the lowest for insurance, averaging $ 1,087 per year.
The most expensive states for car insurance
Louisiana, Michigan, New York, Rhode Island and Washington, D.C. are the states with the highest average rates for auto insurance, according to the National Association of Insurance Commissioners.
The cheapest states for car insurance
Maine, Idaho, Iowa, Wisconsin, and North Dakota are the states with the lowest average rates for auto insurance, according to the National Association of Insurance Commissioners.
The average cost of car insurance by type of coverage
The specific types of auto insurance coverage that make up your policy will also help determine your monthly premium price. You will almost certainly have liability insurance, which is required by law in nearly every state. Liability insurance protects you against costs incurred if someone injures or damages property in your vehicle.
Then there are the types of coverage that protect your car, such as comprehensive and collision coverage, which are not required by law but are part of what is often referred to as “full coverage” insurance.
Comprehensive and collision insurance covers you in the event that your car is damaged, whether in a car accident or otherwise damaged. Skipping a crash and collision can cut your monthly premiums, but it can lead to greater costs down the road if you default on paying for major repairs.
According to the NAIC, this is the average annual premium for different types of auto insurance coverage in 2017, and the most recent year for which this data is available.