The average cost of car insurance has risen to $1,897 a year in the U.S. Your choice of insurer and where you live are two major factors in the price you pay for coverage.
The average U.S. driver pays $1,897 a year for car insurance. But you may pay much more – or much less – depending on which carrier you choose and the state you call home.
For example, the average U.S. driver pays $1,897 annually for full coverage. Drivers in Louisiana, the most expensive state on average, pay $2,883 per year. Drivers in Maine, the cheapest state, pay just $1,175.But just because an insurer’s average rate is high doesn’t mean that it will be expensive for you. That’s why it pays to shop around for the best car insurance rate.Travelers offers the cheapest car insurance coverage, with an average annual rate of $1,606.
Having a poor credit history is statistically correlated with a higher likelihood of filing claims. As a result, drivers with poor credit histories pay the most for car insurance on average, followed by those who have a DUI on their record. “There are also more costly auto repairs due to increased technological sophistication in vehicles,” says Loretta Worters, vice president of media relations for the Insurance Information Institute , an insurance industry trade and education association.
As these new realities increase expenses and risks for insurance companies, they respond by charging higher rates. Many different factors impact car insurance costs. Some of these things are within your control, while others are not.
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