Car insurance on average will cost you $85 to $150 a month. No two people are the same, so these numbers can vary drastically.
In this article we’ll discuss how much is car insurance on average so you can make sure you’re getting the best price on your car insurance.
How much is full coverage auto insurance?
Full coverage auto insurance costs an average of $150 a month. These prices vary greatly depending on many factors and what you actually consider to be full coverage.
Full coverage auto insurance is a bit of a mystery. No one person can agree on the definition of what “full coverage” auto insurance actually is. For some people it means having comprehensive and collision coverage. For some people it means having every possible coverage on your auto insurance policy. For more information on full coverage, visit this page.
Our purpose today is not to discuss what full coverage auto insurance is, but to talk about how much does full coverage insurance cost. As discussed above the price of car insurance varies widely from person to person.
The following can help insurance companies determine how much is insurance going to cost you:
- Your age
- Your vehicle (cost, age, safety feature, etc)
- Your driving record
- Where you live
- How much you drive
- How many drivers are on your policy
- How many cars are on your policy
When most people say “full coverage” they usually mean comprehensive and collision coverage. These coverages protect your vehicle should it be damage from an accident and will even cover theft or vandalism. So when you’re trying to figure out how much would full coverage insurance cost consider these things.
Example- if you have a more expensive car and it was stolen, then the insurance company would have to pay out a lot of money for that expensive car. Knowing ahead of time that they could be on the hook, should your car get stolen, they are going to charge you more money each month for your full coverage car insurance.
In total, there are close to 200 different rating factors when it comes to determining you monthly cost of car insurance. This makes it impossible to give anyone trying to figure out how much does full coverage car insurance cost an accurate price. You must first go through the quoting process and allow the insurance company to learn about you and your specific situation.
How much is liability car insurance per month?
Liability insurance is just the opposite of full coverage insurance. Liability insurance is only giving coverage to other parties. This means if you’re in an accident that’s your fault, and your vehicle is damage, you’re out of luck. You would have no coverage for your vehicle.
Because this basic insurance gives limited coverage, it’s obvious to assume, if you’re wondering how much does liability car insurance cost, that it is much cheaper than full coverage auto insurance.
If you’re yelling at the screen right now, saying “I just want to know how much is basic car insurance!?!”, then you may be in for a disappointment. The answer is the same as wanting to know how much is insurance for full coverage. That answer is- it’s hard to say.
On average liability car insurance per month is $45 a month. Many of the same factors used in full coverage, go into deciding the rate for liability or basic insurance. Things such as age, driving record, address, etc.
The best thing to do is contact an independent insurance agent and allow them to search multiple companies to find you the best rate and coverage. You can get quotes here.
How much does insurance cost for a new driver?
Parents are often shell shocked when they call their insurance company to add their child to their car insurance as a new driver. News flash- It’s Expensive!
When asking yourself how much is insurance for a new driver consider the following:
- New drivers have no real world experience
- New drivers are still young, immature kids
- New drivers are more likely to cause an accident than mature, experience drivers
All of these factors push the price of car insurance for new drivers to be extremely high.
So, how much is car insurance for new drivers? Car insurance for new drivers costs on average between $100 to $200 a month. It’s important to keep in mind that every situation is different. The car you driver, how much you drive, the coverage you have and your driving record can all change the monthly price drastically.
If you have a young driver that will soon be added to your car insurance policy and you’re worried about how much is insurance for new drivers then you need to remind your young driver of one thing- Drive safely and keep a clean driving record! With a single speeding ticket or accident on a young driver’s record, the price of car insurance will double, triple and maybe even quadruple.
For more information about what you can do to lower the cost of insurance for a new driver, visit this article.
How much is insurance for a new car?
Insurance on a new car can vary drastically in price. There are many different factors to consider including the safety features of the car, value of the car and who is driving the car.
Most people fall into two categories when it comes to buying a new car and wondering how much would insurance be:
- The person that hesitates to buy a new car because they think insurance will be too much.
2. The person that doesn’t think about it at all and finds out after the fact how much it is.
With a little bit of planning and knowledge, you don’t have to be either of these people. Lets discuss- the truth is that new cars, because of the safety features, are often times less expensive to insure than an older car. Yes, the new car is more expensive and would cost more to replace, however, the safety features outweigh that factor.
Example- I had a client who owned a 2016 Ford Explorer. They called me wondering how much is insurance for a car that is exactly the same, except for a newer model, a 2020. He was very surprised to find out that the new 2020 model was actually $10 a month lower to insure than the 2016 model. The safety features, including active park assist, automatic breaking and many other things, allowed the insurance company to offer a better price for the new vehicle. So don’t let the fear of high insurance stop you from buying a new car.
It’s also very important to do a little bit of research before you get serious about buying a specific car. You can call your insurance company and give them a few different makes and models and they can quickly give you an idea of how much they cost to insure. This is better than not doing your research and then getting upset at the price of insurance after you already bought the car!
Another thing to take note of is how much time you have to call your insurance company after you purchase your new vehicle. We talk about that here.
How much is car insurance per year?
The average car insurance price per year is $1,800. Most car insurance companies will give you a discount for paying your policy in full for the year. Instead of paying for your car insurance monthly, consider paying in full.
The next time you are shopping your car insurance and ask for quotes, instead of asking how much does car insurance cost per month, consider asking how much is car insurance per year. Many times you can save $100’s of dollars by paying in full.
Another discount car insurance companies give is the automatic payment discount. If you allow the insurance company to deduct your premium automatically from either your checking account or credit card, you will get a sizeable discount as well.
So instead of wondering how much is car insurance monthly, get a quote here and ask how much it is each year!
How much is State Farm car insurance per month?
As an independent agency, we often compete with State Farm Insurance. This is because they spend the most money on advertising than any other insurance company!
It’s important to know the difference between a captive company (State Farm) and an independent company. This will help you determine how much should you pay for car insurance.
A captive company will only be able to give you prices and coverage options for that one specific company. In other words, you don’t have options. If your situation needs something that State Farm can’t provide then you are out of luck. Also, if their rates aren’t good, you have no options to find better priced car insurance.
With an independent company you have options! If one company doesn’t have the coverage options you need or doesn’t have the best price, don’t worry! There are 10 more companies that can be checked to find what’s right for you. So when wondering how much is average car insurance, make sure you check with an independent insurance agent and get as many options as you can.
You can get quotes from many different companies here.
How much is your car insurance
It’s clear to see now that simply asking ” how much does insurance cost for a car? ” is not really the best question. There are way too many factors to take into consideration. Even asking how much is average car insurance wont get you the answers you need.
The average person may not have your same needs, situation and vehicles. The average person may have 1 speeding ticket on their record or 1 accident on their record. So it’s impossible to compare your car insurance cost to others.
The best thing to do to determine how much is car insurance per month is to find an independent agent who can run quotes with many different companies and find you the best rate. When you compare your car insurance price with 10 different companies instead of comparing with 10 different people, you’ll get a better idea of how much you should be paying and what is reasonable for your specific situation.
To get a quote now, click here!