Compare Monthly Car Insurance: Rates, Discounts, & Requirements [2023]
Car insurance costs $50 monthly for liability and $150 for full coverage, but average monthly auto insurance rates vary by driver.
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Written by
Laura Berry |
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Reviewed by
Joel Ohman
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UPDATED: Nov 23, 2022
It’s all about you. We want to help you make the right coverage choices.
Advertiser Disclosure: We strive to help you make confident car insurance decisions. Comparison shopping should be easy. We are not affiliated with any one car insurance company and cannot guarantee quotes from any single company.
Our partnerships don’t influence our content. Our opinions are our own. To compare quotes from top car companies please enter your ZIP code above to use the free quote tool. The more quotes you compare, the more chances to save.
Editorial Guidelines: We are a free online resource for anyone interested in learning more about auto insurance. Our goal is to be an objective, third-party resource for everything auto insurance related. We update our site regularly, and all content is reviewed by auto insurance experts.
UPDATED: Nov 23, 2022
It’s all about you. We want to help you make the right coverage choices.
Advertiser Disclosure: We strive to help you make confident car insurance decisions. Comparison shopping should be easy. We are not affiliated with any one car insurance company and cannot guarantee quotes from any single company.
Our partnerships don’t influence our content. Our opinions are our own. To compare quotes from top car companies please enter your ZIP code above to use the free quote tool. The more quotes you compare, the more chances to save.
On This Page
- Insurance companies look at a variety of factors to craft your rates, including your age, gender, location, and driving history
- The average driver pays about $150 a month for full coverage and $50 for minimum insurance, but rates vary significantly between drivers
- You can lower your rates by taking advantage of discounts, choosing the right level of coverage, and comparing quotes
There are so many factors that affect car insurance rates that it might seem impossible to work out which company will offer you the best price.
However, the process of finding the cheapest car insurance is relatively simple. The most important part of your search for cheap coverage is to compare rates. Before you enter your information for a personalized quote, you can explore the average cost of car insurance from various companies to get an idea of where to start.
Read on to look at the average rates companies offer for factors like your age, driving history, and credit score. Then, compare quotes with as many companies as possible to find the lowest price for your policy.
How much does car insurance cost per month?
The exact amount you’ll pay for car insurance depends on a variety of factors, but the average American spends about $150 a month for full coverage car insurance or $50 for minimum liability car insurance.
Although it’s helpful to look at insurance averages, keep in mind that the actual prices you’ll see might be very different. When you’re ready to buy insurance, you’ll need to compare rates at as many companies as possible to find the best price.
How much does minimum insurance cost?
With the exceptions of Virginia and New Hampshire, every state has laws regarding how much insurance you need to carry before you can drive or register your car. You’ll need to meet the minimum car insurance required by your state before you get behind the wheel of your vehicle, and this is your cheapest option for coverage.
Minimum insurance rates depend on your age, driving history, and credit score. One of the most important variables is the state you live in — some states require more insurance than others. You can check how much you might pay for minimum insurance with the top companies below.
| Insurance Company | Average Minimum Coverage Rates |
|---|---|
| Allstate | $605 |
| American Family | $582 |
| Farmers | $674 |
| Geico | $290 |
| Liberty Mutual | $771 |
| Nationwide | $588 |
| Progressive | $484 |
| State Farm | $408 |
| Travelers | $471 |
| Average | $541 |
Some states have incredibly affordable minimum insurance rates, while others are usually much higher. Typically, states with costlier minimum insurance rates require more coverage. For example, Michigan and Florida have high rates because they require personal injury protection coverage along with liability insurance.
How much does full coverage insurance cost?
Although you’ll never have to buy it as a state requirement, full coverage car insurance offers much better protection than minimum insurance. Full coverage includes liability insurance, collision insurance, comprehensive insurance, uninsured/underinsured motorist coverage, and either personal injury protection or medical payments.
Most drivers benefit from full coverage even if they don’t need it, but it does cost more than minimum insurance. You’ll probably need full coverage if you have a car loan or lease.
| State | Allstate | Geico | Liberty Mutual | Nationwide | Progressive | State Farm | Average |
|---|---|---|---|---|---|---|---|
| AK | $1,667 | $1,195 | $807 | $1,223 | |||
| AL | $1,332 | $1,099 | $1,999 | $1,189 | $1,388 | $1,337 | $1,370 |
| AR | $2,007 | $1,120 | $1,227 | $1,581 | $1,620 | $989 | $1,416 |
| AZ | $2,226 | $808 | $1,436 | $1,039 | $999 | $1,352 | |
| CA | $1,996 | $1,553 | $1,774 | ||||
| CO | $2,054 | $1,161 | $1,133 | $1,324 | $1,490 | $1,168 | $1,475 |
| CT | $2,421 | $768 | $2,486 | $1,382 | $1,641 | $1,126 | $1,550 |
| DC | $2,976 | $855 | $2,126 | $1,420 | $1,371 | $1,750 | |
| DE | $2,555 | $1,243 | $6,117 | $1,777 | $1,115 | $1,431 | $2,180 |
| FL | $2,263 | $1,103 | $1,995 | $1,272 | $1,889 | $1,223 | $1,624 |
| GA | $2,035 | $754 | $3,259 | $1,878 | $1,417 | $1,324 | $1,778 |
| HI | $1,113 | ||||||
| IA | $1,006 | $1,432 | $900 | $930 | $804 | $1,049 | |
| ID | $1,587 | $708 | $975 | $1,018 | $653 | $992 | |
| IL | $2,172 | $587 | $935 | $1,146 | $1,103 | $796 | $1,153 |
| IN | $1,729 | $785 | $2,269 | $1,198 | $849 | $872 | $1,207 |
| KS | $1,973 | $923 | $2,148 | $1,141 | $1,575 | $1,003 | $1,447 |
| KY | $988 | $2,080 | $2,277 | $1,377 | $1,212 | $1,610 | |
| LA | $2,547 | $1,739 | $1,990 | $1,537 | $1,953 | ||
| MA | $1,342 | ||||||
| MD | $2,481 | $1,671 | $1,313 | $1,493 | $1,322 | $1,656 | |
| ME | $1,334 | $454 | $1,485 | $1,166 | $724 | $1,053 | |
| MI | $5,017 | $1,219 | $5,250 | $3,184 | $1,880 | $2,585 | $3,193 |
| MN | $1,977 | $1,118 | $4,640 | $1,070 | $828 | $1,732 | |
| MO | $1,831 | $1,112 | $1,597 | $816 | $1,212 | $1,051 | $1,326 |
| MS | $1,822 | $886 | $1,477 | $1,190 | $1,487 | $1,018 | $1,282 |
| MT | $1,903 | $1,020 | $726 | $1,093 | $2,109 | $870 | $1,392 |
| NC | $2,095 | $851 | $1,020 | $1,367 | $393 | $949 | $1,129 |
| ND | $1,679 | $749 | $4,919 | $949 | $1,364 | $943 | $1,715 |
| NE | $1,545 | $1,139 | $2,213 | $952 | $1,175 | $850 | $1,358 |
| NH | $1,585 | $624 | $2,453 | $953 | $785 | $729 | $1,188 |
| NJ | $1,948 | $917 | $3,446 | $1,154 | $1,403 | $1,915 | |
| NM | $1,958 | $1,119 | $1,186 | $1,069 | $855 | $1,300 | |
| NV | $2,046 | $1,361 | $1,375 | $1,386 | $1,018 | $1,272 | $1,470 |
| NY | $1,820 | $963 | $2,473 | $2,026 | $1,188 | $1,695 | $1,761 |
| OH | $1,483 | $728 | $1,311 | $1,408 | $1,051 | $863 | $1,065 |
| OK | $1,668 | $1,350 | $2,279 | $1,362 | $1,122 | $1,577 | |
| OR | $1,896 | $1,155 | $1,738 | $1,372 | $959 | $926 | $1,326 |
| PA | $1,829 | $843 | $2,704 | $1,066 | $1,834 | $938 | $1,449 |
| RI | $2,333 | $1,547 | $2,905 | $2,351 | $1,438 | $939 | $1,827 |
| SC | $1,650 | $979 | $1,459 | $1,294 | $1,089 | $1,422 | |
| SD | $1,682 | $706 | $2,849 | $943 | $1,298 | $827 | $1,446 |
| TN | $1,777 | $970 | $1,464 | $1,141 | $895 | $1,200 | |
| TX | $2,488 | $1,303 | $1,908 | $1,493 | $1,109 | $1,745 | |
| UT | $1,442 | $906 | $1,466 | $1,154 | $1,174 | $1,269 | $1,266 |
| VA | $1,277 | $859 | $1,061 | $754 | $785 | $947 | |
| VT | $1,759 | $469 | $1,242 | $954 | $2,233 | $1,079 | $1,289 |
| WA | $1,415 | $922 | $1,140 | $866 | $746 | $858 | $1,042 |
| WI | $1,521 | $766 | $1,039 | $2,797 | $1,158 | $721 | $1,265 |
| WV | $2,000 | $1,030 | $2,419 | $1,288 | $1,362 | $979 | $1,513 |
| WY | $1,918 | $1,369 | $922 | $1,017 | $1,366 |
As you can see, the average monthly car insurance bill for full coverage is often double or even triple what your state’s minimum insurance rates might be. The increased cost is worth it, though, as it can save you thousands of dollars if you ever need to file a claim.
How do age and gender affect insurance rates?
Car insurance companies keep careful track of claims data and have detailed numbers for multiple demographics. Two demographics that play a heavy role in your insurance rates are gender and age.
Age is one of the most important things companies look at, with young drivers paying some of the highest rates. Inexperienced drivers pay more for insurance because they are statistically more likely to engage in reckless behaviors and cause accidents. Check how to find car insurance for young drivers here.
Men pay more than women for the same reason, although the gap between the average car insurance payment per month lessens with age.
| Age and Gender | Allstate | Geico | Liberty Mutual | Nationwide | Progressive | State Farm | National Average |
|---|---|---|---|---|---|---|---|
| 18 Y/O Male w/a Clean Record | $6,223 | $3,043 | $7,593 | $4,646 | $7,941 | $3,408 | $5,947 |
| 18 Y/O Female w/a Clean Record | $5,381 | $2,635 | $6,335 | $3,632 | $7,090 | $2,750 | $4,936 |
| 30 Y/O Male w/a Clean Record | $2,118 | $1,041 | $2,373 | $1,667 | $1,633 | $1,234 | $1,646 |
| 30 Y/O Female w/a Clean Record | $2,021 | $1,078 | $2,072 | $1,519 | $1,569 | $1,122 | $1,523 |
| 45 Y/O Male w/a Clean Record | $1,919 | $962 | $2,066 | $1,376 | $1,261 | $1,032 | $1,411 |
| 45 Y/O Female w/a Clean Record | $1,941 | $958 | $2,034 | $1,355 | $1,340 | $1,032 | $1,413 |
| 55 Y/O Male w/a Clean Record | $1,820 | $912 | $1,959 | $1,305 | $1,196 | $978 | $1,338 |
| 55 Y/O Female w/a Clean Record | $1,841 | $909 | $1,929 | $1,285 | $1,271 | $978 | $1,341 |
| 65 Y/O Male w/a Clean Record | $1,878 | $941 | $2,022 | $1,347 | $1,234 | $1,010 | $1,381 |
| 65 Y/O Female w/a Clean Record | $1,900 | $938 | $1,991 | $1,327 | $1,312 | $1,010 | $1,383 |
Teen car insurance rates are so high that they often struggle to buy their own coverage. Not only are rates expensive, but insurance companies won’t sell a policy to a minor without a parent or guardian’s help. A parent or guardian can help teens get more affordable rates by adding them to an existing policy.
Does being married impact your insurance rates?
Insurance rates are higher for single people compared to married couples, and most major insurance companies give married couples a discount when they’re insured on the same policy. The primary reason behind the discount is that married couples tend to file fewer claims than single people.
State Farm, Geico, and Progressive have some of the lowest average costs of car insurance for married couples.
While most married couples will receive a discount on their insurance, not all states allow companies to offer special prices. Your monthly cost of car insurance will be the same no matter your relationship status in Massachusetts, Montana, Hawaii, and Maine.
How does your credit score affect your insurance rates?
Your credit score affects several things in your life, including your ability to take out a loan, rent an apartment, and purchase a car. It also impacts your car insurance rates.
Companies look at your credit score for two reasons. First, your credit score gives companies an overall idea of how often you’ll pay your bills on time. Secondly, people with lower scores are more likely to file future claims.
A lower credit score means you might pay up to 60% more for insurance than people with higher scores. Comparing quotes with as many companies as possible is vital when your credit score is low, as some companies are more forgiving than others.
| Insurance Company | Rates with Poor Credit | Rates with Fair Credit | Rates with Good Credit |
|---|---|---|---|
| American Family | $203 | $136 | $115 |
| Farmers | $269 | $160 | $139 |
| Geico | $148 | $100 | $82 |
| Liberty Mutual | $355 | $226 | $177 |
| Nationwide | $166 | $133 | $120 |
| Progressive | $206 | $138 | $109 |
| State Farm | $200 | $118 | $91 |
| Travelers | $194 | $128 | $107 |
| Allstate | $296 | $197 | $166 |
| Average | $226 | $148 | $123 |
Although you’ll pay higher rates with a low credit score, you aren’t stuck with those prices forever. If you can raise your score, your rates will drop accordingly.
However, there’s no need to worry about higher rates if you live in Massachusetts, California, or Hawaii. The use of credit scores to determine rates is banned in these three states. While they’re currently the only states prohibiting credit score use, many states are considering it.
Car Insurance Rates by Driving History
Of all the factors car insurance companies look at, one of the most important is your driving history. Your driving record gives a company a meticulous look at how risky you might be to insure.
Due to increased risk, companies charge much more when you have marks on your driving record. Check below to see how much more you might pay based on various infractions.
| Insurance Company | Rates with an Accident | Rates with a Clean Record |
|---|---|---|
| Allstate | $2,848 | $1,993 |
| American Family | $2,000 | $1,386 |
| Farmers | $2,383 | $1,674 |
| Geico | $1,595 | $984 |
| Liberty Mutual | $2,840 | $2,120 |
| Nationwide | $1,983 | $1,445 |
| Progressive | $2,284 | $1,310 |
| State Farm | $1,285 | $1,091 |
| Travelers | $1,888 | $1,287 |
| Average | $2,123 | $1,477 |
While your rates will always increase after a traffic incident, some infractions are more damaging than others. However, even minor incidents like speeding tickets will dramatically affect your rates if you have multiple violations.
If you have too many incidents in your driving record, your current company might drop you as a policyholder. If that happens, you’ll need to look for high-risk car insurance, which comes with much higher rates.
Car Insurance Rates After a DUI
At-fault accidents and speeding tickets increase your rates, but very few incidents affect your car insurance costs the way a DUI does. DUIs also lead to license suspension, heavy fines, and sometimes jail.
Comparing insurance quotes is essential after getting a DUI, even if you already have a policy. Rates for car insurance after a DUI are always higher, but some companies offer lower rates than others.
| Insurance Company | Rates with a DUI | Rates with a Clean Record |
|---|---|---|
| Allstate | $3,638 | $1,993 |
| American Family | $2,124 | $1,386 |
| Farmers | $2,296 | $1,674 |
| Geico | $2,566 | $984 |
| Liberty Mutual | $3,900 | $2,120 |
| Nationwide | $3,028 | $1,445 |
| Progressive | $1,760 | $1,310 |
| State Farm | $1,490 | $1,091 |
| Travelers | $2,765 | $1,287 |
| Average | $2,619 | $1,477 |
Although these are average car insurance payments per month, the actual rates you’ll see depend on your unique circumstances. You’ll also pay more in certain states — Michigan, Rhode Island, and North Carolina often have some of the most expensive DUI rates in the country.
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Which companies offer the lowest rates?
Although looking at rates for different demographics is helpful, an easier way to decide where to search for car insurance is at the companies themselves. Your rates will differ based on your situation.
Some of the cheapest companies are Geico and Nationwide, which offer low rates for nearly every demographic. You can learn more about Geico at our Geico car insurance review. However, smaller local companies can have very competitive rates.
For example, regional insurers, like Erie Insurance, are only available in certain states but can offer policy prices that rival nationwide companies like Geico or State Farm. This is why it’s vital to compare quotes based on your ZIP code and find how which companies offer the lowest rates near you.
How does the type of vehicle you drive change your car insurance rates?
Some factors that affect your car insurance rates are beyond your control, but one you do have control over is the type of car you drive.
Vehicles with solid ratings for safety and reliability, lower price tags, and low maintenance costs usually have cheaper auto insurance rates. To keep your insurance rates affordable, you should consider how much coverage costs by type of vehicle.
When it comes to locking in low rates, regular-sized pickup trucks, sedans with good safety ratings, and affordable SUVs tend to have the most affordable auto insurance. Find out the average insurance rates for pickup trucks here.
On the other hand, luxury and sports cars come with higher insurance rates. More expensive rates are due to steep repair costs, and drivers tend to engage in riskier behaviors. Here’s more information about sports car insurance.
Average Insurance Rates for Popular Cars
While looking at the average price of car insurance for specific vehicle types is an excellent place to start, you can also compare rates by specific makes and models.
Some of the most expensive cars to insure in the U.S. are luxury cars like the Tesla Model S and BMW 330i. Other popular cars that cost less and have solid safety ratings have more affordable insurance, such as car insurance for a Honda Civic or car insurance for a Ford F-150.
How are insurance rates determined?
Car insurance companies use complex formulas to craft your rates, and they use a variety of factors in those formulas. Many factors help determine the cost of your auto insurance policy.
Even though each company has a unique formula, they look at the same elements:
- State requirements
- Driving record
- Car make and model
- Age and gender
- Amount of coverage you want
- ZIP code
- Credit history
- Marital history
- Yearly mileage
These complex formulas are why it’s important to compare quotes. For example, Progressive car insurance is often an affordable option for many demographics, but it has some of the highest rates for people with low credit scores.
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How to Find Affordable Car Insurance Rates
With the price of everything rising, finding affordable coverage is more important than ever.
When you need to save money on car insurance, try the following methods:
- Compare rates. One of the best and easiest ways to find the most affordable rates is to compare quotes with as many companies as possible.
- Keep your driving record clean. You’ll pay more for insurance when you have infractions on your record, so avoiding incidents is an easy way to keep your rates low.
- Lower your coverage. If you need to keep your insurance rates as low as possible, you should select the least amount of coverage you need. If you’re considering switching to liability-only car insurance, keep in mind that lowering your coverage will put you at financial risk of paying for your own repairs.
- Raise your deductible. You can lower your monthly rates by raising your car insurance deductible. This also comes with a financial risk, as you’ll need to pay more out-of-pocket before your insurance kicks in after a claim.
- Look for discounts. Insurance companies offer car insurance discounts to their customers to help keep rates low. An insurance representative will help you get every discount you’re eligible for.
Although finding affordable insurance might seem complicated, it doesn’t need to be a challenge. You’ll find the lowest possible rates by taking easy steps like comparing quotes, choosing the right amount of coverage, and finding discounts.
Find the Best Auto Insurance Rates Today
Now that you have an idea of how much car insurance is per month, you’ll have an easier time finding the best quotes for your needs. From your age to the make and model of your car, finding the right company to shop with is the most crucial step in getting affordable coverage.
Use our insurance tool below to compare quotes today, and make sure to look at as many companies as possible to find the best policy.
Frequently Asked Questions
What’s the difference between minimum and full coverage?
Minimum insurance refers to the lowest amount of coverage you can buy to meet your state’s insurance laws. Most states require at least liability, while others include personal injury or uninsured/underinsured motorist protection.
Full coverage is never required by law and includes liability, comprehensive, collision, and uninsured motorist and personal injury protection insurance if required.
Is full coverage more expensive than minimum insurance?
Full coverage costs more than minimum insurance because you’re buying more coverage. Generally speaking, full coverage costs are double and triple the minimum insurance costs.
Does paying your car loan off affect your rates?
While your rates aren’t affected by your ownership status on your car, you’ll probably be able to lower your coverage. Lenders usually require you to carry full coverage, but you can drop to minimum insurance once you pay off your loan.
Do you pay car insurance monthly or yearly?
You have several options for paying your car insurance. You can choose to pay monthly, or you can pay for your entire policy at once. Usually, companies sell six months of car insurance at once, and you might earn a discount for choosing one lump payment.
How much does car insurance cost for inexperienced drivers?
Whether you get your license at 16 or 60, inexperienced drivers pay some of the highest rates. Your rates will be even higher if you’re under 25. For example, the average male driver at 16 pays $618 a month, while women pay $566.
Does car insurance decrease every year?
As a general rule, you’ll gradually see lower rates as you get older until about 70. However, causing accidents, getting tickets, or filing claims will increase how much you pay for insurance.
Which company offers the cheapest insurance?
GEICO, Nationwide, and State Farm consistently have the cheapest auto insurance rates for good drivers with good credit.
Free Car Insurance Comparison
Enter your ZIP code below to view companies that have cheap car insurance rates.
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Editorial Guidelines: We are a free online resource for anyone interested in learning more about auto insurance. Our goal is to be an objective, third-party resource for everything auto insurance related. We update our site regularly, and all content is reviewed by auto insurance experts.
|
Written by
Laura Berry |
|
Reviewed by
Joel Ohman
|