Average cost of car insurance in November 2024

How much does car insurance cost by state?

The average cost of car insurance varies between states for many reasons, like accident and claim frequency, the cost of labor and vehicle parts, vehicle theft frequency and even road conditions. The coverage levels you choose also play a significant role. Here, we cover the two most common coverage limits — full coverage and minimum coverage — to give a holistic picture of average rates. Drivers who have leases or loans on their vehicles typically have full coverage policies with comprehensive and collision coverage, along with higher liability limits of 100/300/50. Drivers of older cars, on the other hand, may choose to have a policy that only meets the state-mandated minimum for coverage such as liability, uninsured motorist coverage and/or personal injury protection.

Keep in mind that there are various degrees of coverage between these two options. Even if you are driving an older vehicle, additional liability coverage helps protect your financial future if you are found at fault for an accident. Most insurance experts agree that carrying more liability coverage offers better financial protection at a relatively low cost to you. While making the jump to higher limits or adding comprehensive coverage will increase your premium, these added costs are typically minimal compared to the potential out-of-pocket costs associated with a serious at-fault accident, stolen car or other loss. You may want to speak with a licensed insurance agent to better understand the limits that will work best for you.

Average car insurance cost by state in 2024

What are the cheapest states for car insurance in 2024?

Drivers in Idaho, Vermont, Ohio, Maine and Hawaii pay the cheapest annual full coverage car insurance rates in the nation, on average. Factors like cheaper cost of living, lower crime rates and less traffic congestion could contribute to these states' lower average premiums.

What are the most expensive states for car insurance in 2024?

Based on our research, drivers in Florida, New York, Louisiana, Missouri and Nevada have the highest average annual cost of full coverage car insurance. Some of the factors that these states share are high minimum coverage requirements, a high cost of living and dense urban areas with a high rate of traffic incidents, which contributes to the rate and severity of insurance claims.

How much is car insurance by company?

On average, car insurance from some of the top insurance carriers in the nation ranges from around $1,500 to $2,900 per year for full coverage, with some of the cheapest rates coming from Auto-Owners, Erie and Geico. But because car insurance companies have their own proprietary underwriting systems, the cost of car insurance for each individual will vary from carrier to carrier. This can make choosing an insurer a difficult decision.

For drivers looking for the best car insurance company, keep in mind that the coverage you choose plays a role, too. The average cost of full coverage car insurance is about 263 percent more than minimum coverage. The table below showcases the average annual and monthly full and minimum coverage premiums from some of the largest car insurance companies in the nation by market share. 

How much does car insurance cost by age?

Car insurance companies use many different rating factors to determine your premium, and in most states, your age significantly impacts how much you pay for coverage. Statistically speaking, younger drivers (especially teens) are more likely to be involved in an accident and file insurance claims. Because of the added risk, younger drivers tend to pay more for auto insurance compared to drivers with more experience behind the wheel.

Average rates tend to decrease from ages 25 to 60 but begin to creep back upward when a driver reaches their 70s. Advanced age can cause decreased reaction time and poorer eyesight, which in turn can increase the likelihood of an accident. Because of this, senior drivers typically see elevated insurance rates. 

How does driving record impact the cost of car insurance?

• Speeding ticket: Earning a speeding ticket conviction is one of the most common driving infractions. On average, drivers with a single ticket pay 21 percent more for coverage than drivers with clean records. Every car insurance carrier will have its own algorithm for determining rates after a speeding ticket. For example, even after a speeding ticket conviction, Erie and Auto-Owner’s average car insurance rates are both well below the national average cost of auto insurance. 
• At-fault accident: An at-fault accident on your record raises average monthly full coverage car insurance payments from $205 to $292. If this is your first accident and you’ve previously added optional coverage like accident forgiveness to your policy, you may be able to avoid the surcharge.
• DUI conviction: After being convicted of a DUI, drivers pay an average of 92 percent more for car insurance, and that conviction may stay on your driving record for 10 years or more. The amount surcharged will also vary in each state. For example, the average cost of car insurance after a DUI for a full coverage policy is $2,184 per year in Idaho, but around $7,471 per year in Michigan.

How much does car insurance cost by credit score?

How much does car insurance cost by vehicle type?

The type of vehicle you drive has a significant impact on your car insurance premium. The price and availability of parts, cost of labor, statistical likelihood of accidents, how much damage your vehicle could cause during an accident and the vehicle’s safety and crash prevention features could all influence how much you pay for coverage. The vehicle makes and models in the table below are well-suited for a variety of lifestyles and budgets.

The vehicles listed above are representative of common model types seen across the United States. Our list includes a variety of luxury and standard brands and a broad selection of model sizes. Some vehicle makes and models are considered more expensive to insure by insurance companies. Vehicles that may carry higher insurance costs include:

• High-end vehicles, like luxury or sports cars: High-value vehicles cost more to insure because they often cost more to replace as well as to repair. Sports cars and sporty versions of luxury models also present an added risk of at-fault accidents thanks to powerful engines and high top speeds.
• SUVs, vans and other large vehicles: While large vehicles like SUVs and vans can reduce the risk of damage to your vehicle or injuries to your passengers, they can cause more damage to other vehicles and their occupants, leading to higher liability costs.
• Common, more affordable vehicles: Economy cars may be more affordable upfront, but their lack of advanced security and safety features could increase your risk of claims. Cheap Hyundai and Kia models, for instance, are common theft targets due to a lack of key security features.
• Hybrid and electric vehicles: The insurance cost gap between electric and hybrid cars and their gas-powered counterparts is closing, but not gone. EVs come with steep repair costs thanks to expensive parts and specialized labor, which can lead to higher rates for comprehensive and collision coverage.
• Vehicles with low safety ratings: Opting for a car with lower safety ratings could raise the base rate you pay for insurance, since these vehicles may have a higher chance of getting into accidents and can sustain more damage in the event of a crash.

What other things affect my car insurance price?

Your car insurance price can also be influenced by less apparent rating factors, such as your occupation, annual mileage and even your marital status. Certain professions may be considered lower risk, leading to lower premiums. Similarly, the number of miles you drive annually can impact your rate, with lower mileage often resulting in cheaper insurance due to reduced exposure to potential accidents. Additionally, married individuals typically receive lower rates compared to single drivers, as insurers often associate marriage with more stable and safer driving behaviors. Many states allow insurance providers to consider gender, but a handful of states have banned this practice. 

Every state except Hawaii and Massachusetts allows insurance companies to consider age as a factor for insurance pricing. Other things, like whether you park your car in a garage or on the street, can also affect your insurance costs, as vehicles kept in secure locations are less likely to be stolen or damaged.

How to lower your car insurance costs

If you're looking to save when buying car insurance, there are several simple strategies you can use to lower your costs:

• Compare multiple quotes: Every auto insurance company calculates rates differently, and these systems change. Regularly comparing quotes can help you find the best coverage at the most competitive price in a shifting market.
• Bundle your policies: If you also have a home, renters or motorcycle insurance policy (or another type of insurance), you may be able to get a discounted premium on each policy by purchasing them from the same insurer.
• Reduce your mileage: Driving less than the average annual mileage reduces your risk of accidents. If you’re able to work from home, carpool or switch to another form of transportation, you may qualify for a lower rate based on your mileage.
• Raise your deductible: If you have full coverage on your vehicle, increasing your deductibles — the amount you pay out of pocket to make a claim — can lower your monthly premium.
• Look for discounts: Layering multiple car insurance discounts can significantly reduce your premium. Most insurers offer discounts, but the number, type and availability of discounts varies, so do your research when you shop.

Auto insurance discounts

• Claims-free discounts: Drivers who have no auto claims on their record for the past three to five years typically qualify for savings. This could include either a claims-free or safe driving discount.
• Good student discounts: Drivers under age 25 who are enrolled full time in high school, college or graduate school may qualify for discounted auto insurance rates from many major insurers. Most carriers require students to maintain a B average (3.0 GPA) or higher.
• Discounts for paying in full: Some insurance providers offer discounts to policyholders who pay their premium as a single annual or semiannual lump sum rather than monthly or quarterly payments.
• Telematics discounts: Telematics programs use GPS technology to track your driving habits like speeding, harsh braking and phone use. Many insurers offer a discount to drivers who share telematics data with their provider and avoid these unsafe behaviors.
• Paperless policy discounts: Many insurance providers offer savings when policyholders agree to receive their bills and policy documents electronically instead of through the mail.
• Automatic payments plan: While not technically a discount, the majority of insurance companies charge service fees any time a payment is processed on an insurance policy, unless the customer opts to pay the bill in full each renewal. Many companies will waive or lower the service fee if the account is set up on auto pay through a checking account instead of a credit or debit card.
• Bundling discounts: The home and auto bundle is not the only kind of bundling discount available. Depending on your insurer, you may also be able to bundle your auto policy with a renters, umbrella, motorcycle or other insurance lines.