What Is The Average Price Of Car Insurance?

By Mike Anderson Posted in Car Insurance News

Liability Requirements

Liability is the minimum required car insurance for some states while other states have stricter car insurance requirements. According to a report published by the Public Policy Institute in 2005, the average cost of liability insurance is $465, collision insurance is $309, and a comprehensive policy would be $143. The collision and comprehensive policies would be in addition to the liability insurance. So the average for liability plus collision and comprehensive would be $829. These averages are for one car with single drivers. New York has the most expensive average for liability insurance at $765 per vehicle and North Dakota the cheapest liability insurance at $259 per vehicle.

Since there are many different variables when it comes to insuring vehicles the averages are relative. Drivers over the age of sixty-five have the safest driving record and have a lower average cost of $750 per year than teen drivers who average $2,324 per year.  Other factors play into the average cost of a car insurance policy. Besides age, your driving record and what car you will be insuring can all play a role.

Most Expensive Cars To Insure

One of the most expensive new cars to insure is the Mitsubishi Lancer Evolution and one of the cheapest new cars to insure is the Volvo XC90 among others. If you have a terrible driving record and are still even insurable, you could pay as much as $3,000 per year. However, most insurance companies will not insure you or your vehicle if you have reached that point. Some things that can affect your driving record include moving violations, DUIs or DWIs and a history of multiple accidents.

You can find affordable car insurance by shopping around instead of settling on the first quote you receive. Because there are so many variables to car insurance, you may pay a lower premium than the national average or a higher premium depending on your situation.

Related posts:

  1. What Types Of Cars Are The Cheapest To Insure?
  2. How Are The Average Car Insurance Rates Determined?
  3. Which Cars Are The Lowest Cost To Insure?
  4. What Is The Cheapest Kind Of Car Insurance?
  5. How Much More Will It Cost To Insure My Second Car?

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