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Compare car insurance rates in October 2024
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Knowing how to compare car insurance quotes can help you find the best deal on your policy — and Bankrate can help you learn how to do it.
Powered by Coverage.com (NPN: 19966249)
Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in states where it is licensed. Coverage.com may not offer insurance coverage in all states or scenarios. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way.
Bankrate’s guide to comparing car insurance rates
According to Bankrate’s analysis, the average cost of car insurance in October 2024 is $2,388 for full coverage and $664 for minimum coverage. However, these are just average figures; the cost of your car insurance policy will likely vary. Car insurance is not a one-size-fits-all product: your coverage limits, policy endorsements, location, driving history, credit score and vehicle type can all play a part in determining what you pay for your policy. As such, car insurance is like a fingerprint — each quote will be different, which is why it’s important to know how to compare them.
Key takeaways
- Average car insurance rates are $2,314 for full coverage and $644 for minimum coverage.
- Experts recommend comparing quotes with the same coverage limits from at least three carriers to find the best fit for your risk profile.
- Drivers under 25 or over 70 and those with violations or accidents tend to pay higher premiums based on insurer risk calculations.
- To request quotes, you’ll need your driver’s license number and vehicle identification number handy, along with information about your driving habits and any recent tickets.
Why you can trust Bankrate
Read our full methodologyBankrate knows car insurance rates can be confusing, so we keep licensed insurance agents on staff to give our readers the information they need to make educated decisions about their policies. Using our specialized knowledge and real-world insurance industry experience, we’ve evaluated insurance companies, both large and small, to help you compare car insurance rates and find the coverage you need at a price you can afford.
46
years of industry expertise
122
carriers reviewed
34.5K
ZIP codes examined
1.2M
quotes analyzed
Compare car insurance rates by age
In all states except Massachusetts and Hawaii, insurers use your age to determine your auto insurance premium. When analyzing car insurance premiums by age, young drivers under the age of 25 typically see higher rates compared to adults. This is because younger drivers have less experience behind the wheel and are more likely to engage in risky driving behavior. According to our analysis, a 21-year-old driver pays an average of 67 percent more for a full coverage car insurance policy compared to a 40-year-old.
Bankrate compiled age-related data from several carriers based on October 2024 rates pulled from Quadrant Information Services to give you an idea of how much you might pay at different points in your life.
Compare car insurance rates for young drivers
Teen drivers are inexperienced, which leads to a greater likelihood of accidents and risky driving. In fact, the Centers for Disease Control and Prevention (CDC) reports that teens have a higher crash rate than any other age group. Because of this, teens typically cost more to insure than older drivers. Bankrate found that, depending on your teen’s age, Nationwide, Geico and Farmers tend to have lower average rates for young drivers.
Teens are not the only age group that face higher-than-average rates; drivers from the ages of 20 to 25 also see elevated car insurance prices. This is largely also because of inexperience behind the wheel, but the increase tends to be less dramatic for drivers in their early 20s compared to teen drivers. However, some young adults may find the best car insurance rates by choosing to stay on their parent’s policy as opposed to purchasing one of their own.
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|---|---|---|---|
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$5,192
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$4,586
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$5,868
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|
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$5,807
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$5,357
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$6,633
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|
|
$4,114
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$3,112
|
$3,587
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|
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$7,352
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$6,785
|
$7,756
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|
|
$4,382
|
$3,727
|
$3,918
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|
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$3,725
|
$3,211
|
$4,598
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|
|
$4,668
|
$4,199
|
$4,637
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|
|
$5,548
|
$4,788
|
$5,167
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|
|
$4,089
|
$3,513
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$3,612
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|
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$4,763
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$3,288
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$3,802
|
Compare car insurance rates for adult drivers
Drivers typically see some relief in terms of car insurance rates when they turn 25. More driving experience and maintaining a clean record signal to your car insurance company that you are unlikely to file an insurance claim, which is usually rewarded with a lower rate. Car insurance premiums tend to hit a downward trend from ages 25 to 50. With the table below, you can compare car insurance rates from different carriers for a variety of age groups.
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|---|---|---|---|---|
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$3,552
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$3,000
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$3,054
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$2,741
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|
|
$3,599
|
$3,024
|
$2,925
|
$2,608
|
|
|
$2,277
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$1,784
|
$1,756
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$1,600
|
|
|
$4,104
|
$3,532
|
$3,332
|
$3,016
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|
|
$2,328
|
$2,067
|
$2,023
|
$1,898
|
|
|
$2,375
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$2,012
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$1,905
|
$1,712
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|
|
$2,839
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$2,478
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$2,254
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$1,947
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|
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$3,222
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$2,838
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$2,743
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$2,597
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|
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$2,245
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$2,043
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$2,001
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$1,730
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|
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$2,445
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$2,112
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$1,921
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$1,786
|
Compare car insurance rates for senior drivers
Senior drivers, typically defined as age 60 and older, may see their car insurance rates begin to creep back up, although some insurers don’t begin to adjust rates until you reach age 70. That is because senior drivers statistically are at greater risk of being in an accident. Aging-related health factors, like decreased eyesight and slowed reaction time, can impair a driver and increase the risk of accidents.
Based on our analysis, older adults may want to consider getting quotes from USAA, Nationwide, Geico and Auto-Owners for low-cost coverage as these carriers offer some of the best average insurance rates for senior drivers.
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|---|---|---|
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$2,721
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$2,841
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|
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$2,781
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$2,672
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|
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$1,581
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$1,763
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|
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$2,851
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$3,223
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|
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$1,898
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$2,124
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|
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$1,652
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$1,785
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|
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$1,884
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$2,049
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|
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$2,489
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$2,558
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$1,698
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$1,843
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|
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$1,760
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$1,989
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Car insurance rates by driving history
Keeping a clean motor vehicle record (MVR) is typically one of the best ways to avoid premium increases on your car insurance policy. Because car insurance rates are based on risk, high-risk drivers generally pay more for coverage and may have trouble obtaining coverage from standard auto insurers. Insurers will review the driving history of all drivers on the policy by obtaining MVR and Comprehensive Loss Underwriting Exchange (CLUE) reports (which provide your auto claims history) so providing this information up front will help ensure you receive an accurate quote.
Car insurance rates after a speeding ticket
Speeding tickets are relatively common, but most carriers still see them as an indication of high-risk driver behavior. As such, a speeding ticket on your motor vehicle record causes your average annual payment to be 21 percent more per year. On top of the increased insurance costs, you may need to pay fines and even license and/or vehicle registration reinstatement fees, depending on the severity of your infraction.
Fortunately, most carriers only consider speeding ticket convictions for three to five years when determining rates. Depending on your state, carrier and ticket severity, you will likely see your rates come back down after a few years of infraction-free driving.
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|---|---|---|
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$3,054
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$3,559
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$2,925
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$3,594
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|
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$1,756
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$2,054
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|
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$3,332
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$4,125
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|
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$2,023
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$2,533
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|
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$1,905
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$2,817
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|
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$2,254
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$2,901
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|
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$2,743
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$3,181
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|
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$2,001
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$2,771
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$1,921
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$2,290
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|---|---|---|
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$919
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$1,080
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$738
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$903
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$455
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$535
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|
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$1,102
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$1,388
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$555
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$691
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$688
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$962
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$694
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$859
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$874
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$1,021
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$545
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$732
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$565
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$669
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Compare car insurance rates after an at-fault accident
Accidents on your MVR will typically increase your premiums, especially if you were found at fault. Insurers typically see a driver with one or more at-fault accidents as more likely to cause an accident in the future and charge them a higher rate as a result.
The table below shows average rates before and after an at-fault accident from several major car insurance companies. On average, drivers with a single at-fault accident pay 42 percent more annually than drivers with the same coverage and no accidents. Accident forgiveness coverage may prevent a rate increase after your first at-fault accident. However, it is important to note that even if you have this coverage with your current insurer (meaning they won’t raise your rate because of an at-fault accident), that accident will likely affect your quoted rates with other insurers, as it is included on your MVR. Accident forgiveness does not typically transfer between carriers and usually must be earned or purchased with new providers.
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|---|---|---|
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$3,054
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$4,083
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$2,925
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$3,481
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$1,756
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$2,331
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|
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$3,332
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$5,360
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|
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$2,023
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$2,890
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|
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$1,905
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$2,663
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|
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$2,254
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$3,415
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$2,743
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$3,522
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$2,001
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$3,000
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$1,921
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$2,760
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|---|---|---|
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$919
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$1,234
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$738
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$896
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$455
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$642
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$1,102
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$1,812
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$555
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$799
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$688
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$948
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|
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$694
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$1,029
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$874
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$1,157
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$545
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$788
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$565
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$818
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Car insurance rates after a DUI
DUIs are among the most serious offenses that a driver can commit, and drivers with a DUI conviction pay an average of 92 percent more for coverage compared to drivers with clean records. Depending on your state’s regulations, you may also face a suspended license and registration, numerous fines and other financial and legal penalties. A DUI conviction can stay on your driving record for life in some states. Finding car insurance with a DUI on your MVR may be much more difficult than it is with a clean driving record, as not all insurance companies will agree to insure such risky drivers. If you have a DUI conviction on your record, it may be worth looking into a carrier that specializes in writing policies for high-risk drivers.
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|---|---|---|
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$3,054
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$5,035
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$2,925
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$8,390
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$1,756
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$3,754
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$3,332
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$7,547
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$2,023
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$4,622
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$1,905
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$4,431
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$2,254
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$3,117
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|
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$2,743
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$4,982
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|
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$2,001
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$3,786
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|
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$1,921
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$3,547
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|---|---|---|
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$919
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$1,520
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$738
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$2,039
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$455
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$1,118
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|
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$1,102
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$2,572
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$555
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$1,329
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|
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$688
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$1,492
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|
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$694
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$928
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|
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$874
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$1,720
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|
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$545
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$972
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|
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$565
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$1,037
|
!
You will likely need to file an SR-22 (or FR-44, if you’re in Virginia or Florida) after a serious infraction like a DUI, license suspension, reckless driving or if you were caught driving without an insurance policy. An SR-22 is not a car insurance policy; it is a form your insurance company files with your state’s department of motor vehicles that proves you carry at least the minimum amount of car insurance required in your state. Depending on the driving infraction, you may need to carry an SR-22 for one to five years.
Compare car insurance rates by credit tier
In most states, your credit tier will affect your car insurance premium. Generally, drivers with lower credit-based insurance scores tend to file more claims and are thus viewed as a higher risk by carriers. California, Hawaii, Massachusetts and Michigan ban or restrict the use of credit as an auto insurance rating factor.
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|---|---|---|
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$4,459
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$3,054
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|
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$7,752
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$2,925
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|
|
$4,740
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$1,756
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|
|
$6,789
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$3,332
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|
|
$2,979
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$2,023
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|
|
$2,374
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$1,905
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|
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$3,993
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$2,254
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|
|
$9,444
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$2,743
|
|
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$2,593
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$2,001
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|
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$3,532
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$1,921
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|---|---|---|
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$1,327
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$919
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|
|
$1,876
|
$738
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|
|
$1,190
|
$455
|
|
|
$2,158
|
$1,102
|
|
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$832
|
$555
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|
|
$871
|
$688
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|
|
$1,278
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$694
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|
|
$3,203
|
$874
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|
|
$731
|
$545
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|
|
$946
|
$565
|
How to compare car insurance rates
Before you start the process of looking for car insurance, take some time to consider what’s most important to you. Maybe you’ve outfitted your car with aftermarket parts and other customizations and need specific coverage for this. Or maybe you have a child who’s about to become a new driver and need competitive rates for adding a teen to your policy.
Whether you’re looking for endless coverage options or just the basics, understanding what you want will help guide you toward the best auto insurance rates. Once you’re ready to get started, here’s how you can streamline the process:
1. Collect your personal information
Whether you get an auto insurance quote online or over the phone, you'll likely share the same personal information. This is the information you'll likely need to have on hand:
- Driver information: You'll need the names, birthdays and driver's license numbers of all the drivers you would like to add to your quote. Included drivers should be all drivers in your household plus any driver who regularly drives your vehicle.
- Vehicle information: At the very least, you will need to provide the makes and models of the vehicles you need to be covered. If you can, you may want to include your vehicle identification numbers (VIN), as this information may provide you with a more accurate quote. If you’ve outfitted your vehicle with aftermarket parts, you will need to include this information as well.
- Driving history: During the quote, the car insurance company may ask if any drivers have been in any accidents or received tickets within a specific timeframe. If you don't advise the company of past driving activity upfront, your quoted premium may go up once the company reviews your driving records after you decide to purchase the policy.
- Usage information: How often you drive can also play a role in your car insurance costs. When you are requesting quotes, an insurer will likely ask you how often you use your vehicle, your estimated annual mileage, whether or not you commute, etc.
2. Choose the right coverage levels
After you provide your personal and vehicle information, the company will ask you what coverage types you would like to include in your quote. When selecting your level of coverage, your individual needs and financial goals will dictate what coverage package is best for you. For instance, if you are leasing your vehicle, your financial lender will likely require you to carry liability limits higher than your state’s required minimum limits. Or, if you have a newer vehicle you are still paying for, you may consider adding gap insurance. Regardless of your selections, you may want to ask for similar coverage options on each quote to ensure you are conducting an apples-to-apples comparison.
Understand car insurance requirements in your state
Most states (except for New Hampshire) require that drivers purchase a car insurance policy in order to register their vehicles. While exact state minimum requirements vary on a state-by-state basis, they all include some form of bodily injury and property damage liability. In no-fault states, you may also need to purchase personal injury protection, uninsured motorist coverage and medical payments coverage. Getting familiar with the coverage requirements in your state can help you better understand how your policy works to protect your finances; plus, it can help you spot any potential coverage gaps.
3. Compare auto insurance quotes
Once you’ve shared your information with the insurance company, you will receive a coverage proposal or quote in return. This typically consists of a premium estimate with the coverage options you selected and a list of covered drivers. Your quote should also already factor in any discounts you qualify for like a home and auto bundle, safe driving discount, student discount or other discount type. Discounts vary by insurer, and some may offer more savings opportunities than others.
Keep in mind that if the insurance company did not check the driving records of all drivers listed on the policy, the quote can change once you purchase the policy. And sometimes, more information is required before a policy can be issued, such as proof of address or prior insurance. The insurance company will inform you if additional information is needed, along with how to provide it and an approval timeframe.
4. Evaluate company features and customer service
When comparing auto insurance quotes, don’t lose sight of other factors that could make an insurance company a good or bad fit for you. Beyond looking for the cheapest rates, you may want to look for an insurer whose representatives you trust to manage your policy and handle any claims efficiently.
Gauging customer satisfaction for insurance companies can be difficult, but third-party ratings and customer reviews paint a picture that may guide your search. For a sense of an insurer’s financial strength, you may want to look at AM Best ratings, which capture a company’s ability to reliably pay out on claims. Another measure of claims satisfaction comes from J.D. Power, which regularly reviews policyholders to understand their overall satisfaction with insurers’ customer service and claims handling. Finally, seeking out reviews from real customers on forums like Reddit or TrustPilot may offer some insight into the major strengths and pain points experienced by current policyholders.
Our industry experts weigh in
Does buying a new car give shoppers an opportunity to save on their insurance rates?
Kenneth Chavis IV
Senior wealth advisor at Versant Capital Management
"The best way for shoppers in the market for a new car to get an estimate of insurance costs for the potential new vehicle is to contact their existing auto insurer and request a quote for the car they are considering purchasing. In addition to make and model, provide as much detail as possible about the car including safety features to get an accurate quote."
Frequently asked questions
Methodology
Bankrate utilizes Quadrant Information Services to analyze October 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. Quoted rates for our base profile are based on the following characteristics and coverage levels:
Bodily injury liability
$100,000 per person$300,000 per accident
Property damage liability
$50,000 per accidentPersonal injury protection
$100,000 per accidentUninsured motorist bodily injury
$100,000 per person$300,000 per accident
Collision deductible
$500Comprehensive deductible
$500Other profiles
These are sample rates and should only be used for comparative purposes.
Our 2024 Bankrate Score considers variables our insurance editorial team determined impacts policyholders’ experiences with an insurance company. These rating factors include a robust assessment of each company’s product availability, financial strength ratings, online capabilities and customer and claims support accessibility. Each factor was added to a category, and these categories were weighted in a tiered approach to analyze how companies perform in key customer-impacting categories.
Each category was assigned a metric to determine performance, and the weighted sum adds up to a company’s total Bankrate Score — out of 5 points. Our scoring model provides a comprehensive view, indicating when companies excel across several key areas and highlight where they fall short.
-
Cost & ratings 50%
-
Coverage & savings 30%
-
Support 20%
- Tier 1 (Cost & ratings): To determine how well auto and home insurance companies satisfy these priorities, October 2024 quoted premiums from Quadrant Information Services (if available), as well as any of the latest third-party agency ratings from J.D. Power, AM Best, Demotech and the NAIC, were analyzed.
- Tier 2 (Coverage & savings): We assessed companies’ coverage options and availability to help policyholders find a provider that balances cost with coverage. Additionally, we evaluated each company’s discount options listed on its website.
- Tier 3 (Support): To encompass the many ways an auto insurance company can support policyholders, we analyzed avenues of customer accessibility along with community support. This analysis incorporated additional financial strength ratings from S&P and Moody’s and factored a company’s corporate sustainability efforts.
