How we calculate credit tiers

We assign the following insurance credit tiers assigned to our drivers based on their reported credit score: “poor, average, good (default) and excellent.” Insurance credit tiers factor in your official credit scores but are not dependent on that variable alone. Credit tier is not a contributing rating factor in California, Hawaii and Massachusetts due to state regulations.

How we calculate vehicle type

We assign a sample make and model based on the driver’s reported vehicle type. Sample models are Toyota RAV4 (small SUV), Honda Pilot (midsize SUV), Buick Enclave (large SUV), Honda Civic (small sedan), Toyota Camry (midsize sedan), Dodge Charger (large sedan), Ford F-150 (pickup truck), Toyota Sienna (minivan), Chevrolet Corvette (sports car), Acura RDX (luxury SUV), BMW 330i (luxury sedan), Chevrolet Bolt (electric vehicle) and Toyota Prius (hybrid).

How we calculate liability limits

We allow users to select from four possible split limits: 25/50/25, 50/100/50 (default), 100/300/100 and 250/500/100. In states where uninsured/underinsured motorist coverage is required by law, uninsured/underinsured motorist coverage is added to the estimate in limits matching the liability limits selected by the user.

How we calculate deductibles

We assign matching deductibles for comprehensive coverage and collision coverage based on user selection. Available deductibles include $250, $500 (default), $1,000 and $1,500. For drivers who choose not to include comprehensive and collision coverage, we provide the “No coverage” option.

Car Insurance Calculator: Estimate Your Monthly Costs

Shopping for car insurance can be intimidating, especially if you’re unsure what a good quote looks like. Using a calculator like the one below may be a simple way to build your budget for auto insurance. Bankrate’s car insurance calculator is designed to give you a ballpark estimate of the amount you might pay for auto insurance. You’ll need to request quotes from multiple companies to get the most accurate rates. Working with an insurance agent or broker can make this process easier.

Auto insurance payments are highly personalized based on a wide range of rating factors that insurance companies use to estimate a driver’s potential risk. If your risk factors indicate a higher risk — such as if you are under age 25, have a poor credit rating or live in an area with a statistically high rate of motor vehicle accidents — your car insurance payments will be higher. Car insurance payments aren’t negotiable, but there are a significant number of ways to lower your payment if it’s higher than you can afford.
Bankrate’s car insurance calculator uses many of the same factors that insurance companies analyze when setting rates, including location, credit history, vehicle type, coverage limits, driving history, marital status, annual mileage and deductibles. We use the latest premium data available from Quadrant Information Services to estimate prices based on the inputs you provide. However, we don’t take into account every factor that insurance companies consider. This calculator won’t account for individual companies’ discounts, unique coverage options or proprietary rating algorithms. You may want to use this calculator to get a general ballpark estimate of how much auto insurance could cost for you. If you’re moving to a new area, have never gotten car insurance before or want to see how much a recent ticket could impact your rates, your estimate could be a helpful starting point. Keep in mind, though, that your actual rates from insurance companies could be higher or lower than the estimate you see here.

How to use the car insurance payments calculator

To get an estimate of your monthly car insurance costs from our calculator, you’ll need to have the following information handy:

ZIP code: Use the ZIP code of the vehicle’s garaging address, i.e., the address where it will be kept most of the time. If this differs from your residential address, ensure the ZIP code reflects where the car will be kept.
Credit score: Choose the tier that best reflects your credit score. If you’re not sure what your credit score is, you may want to select “Good” or “Fair.”
Gender: Select the gender shown on your driver’s license.
Age: Enter your age. Note that for ages over 25, the calculator will default to the closest multiple of 10.
Vehicle year and type: Select your vehicle's model year and body style.
Liability limit: Choose the liability limits closest to the amount you intend to purchase.

To get the most accurate estimate possible, you may want to enter optional inputs including:

Recent incidents: If you’ve received a speeding ticket or DUI conviction in the past five years, or if you’ve been found at fault in an accident in the same time frame, indicate it on the form.
Marital status: Some insurance companies offer lower rates to married drivers. If you’re married, be sure to indicate it.
Annual mileage: Low-mileage drivers may pay less for auto insurance. You can estimate your average annual mileage by multiplying your weekly mileage by 52.
Deductible: If you want a full coverage car insurance estimate, select a deductible amount for your collision and comprehensive coverage. If you’d prefer to see liability-only estimates, select “No coverage.”

How much should I pay for car insurance each month?

The average cost of full coverage car insurance is $205 per month as of November 2024. For liability-only minimum coverage, the national average of $56 per month.

In general, any quote near or below those averages is likely a good amount to pay for car insurance each month. However, average rates can vary significantly from state to state as well as based on key risk factors like age, driving record and credit. Depending on your risk factors and budget, you may need to shop around and compare rates from multiple companies to find a

Bankrate utilizes Quadrant Information Services to analyze November 2024 rates for all ZIP codes and carriers in all 50 states and Washington, D.C. Rates are weighted based on the population density in each geographic region. Estimates shown in the car insurance calculator are based on information provided by users.

*These are sample rates and should only be used for comparative purposes.

We assign the following insurance credit tiers assigned to our drivers based on their reported credit score: “poor, average, good (default) and excellent.” Insurance credit tiers factor in your official credit scores but are not dependent on that variable alone. Credit tier is not a contributing rating factor in California, Hawaii and Massachusetts due to state regulations.
We assign a sample make and model based on the driver’s reported vehicle type. Sample models are Toyota RAV4 (small SUV), Honda Pilot (midsize SUV), Buick Enclave (large SUV), Honda Civic (small sedan), Toyota Camry (midsize sedan), Dodge Charger (large sedan), Ford F-150 (pickup truck), Toyota Sienna (minivan), Chevrolet Corvette (sports car), Acura RDX (luxury SUV), BMW 330i (luxury sedan), Chevrolet Bolt (electric vehicle) and Toyota Prius (hybrid).
We allow users to select from four possible split limits: 25/50/25, 50/100/50 (default), 100/300/100 and 250/500/100. In states where uninsured/underinsured motorist coverage is required by law, uninsured/underinsured motorist coverage is added to the estimate in limits matching the liability limits selected by the user.
We assign matching deductibles for comprehensive coverage and collision coverage based on user selection. Available deductibles include $250, $500 (default), $1,000 and $1,500. For drivers who choose not to include comprehensive and collision coverage, we provide the “No coverage” option.