Source: 2019 data from S&P Global Market Intelligence Average car insurance cost by coverage typeĪs a general rule, the more a policy covers, the more car insurance costs. Some car insurers offer discounts as Americans drive less and are helping people affected by the virus postpone payments. Keep in mind that there have been several major changes to car insurance costs during the coronavirus pandemic. Here are the most significant factors influencing the price you'll pay for coverage and what to consider when looking at your car insurance options. Insider compiled data from industry regulators, personal finance publications, and comparison sites to determine which factors affected car insurance costs and what the typical driver can expect to pay. Insurance companies take into account many different factors, including the state and area where you live and your gender, age, driving history, and the level of coverage you'd like to have. Insurance is regulated at the state level, and laws on required coverage and auto insurance pricing differ in every state. It's essential to understand all the factors that can affect your coverage price since not everyone's cost is the same.Ĭar insurance policies have lots of moving parts, and your premium, or the cost you'll pay for coverage, is just one of them. If you're in the market for your next car insurance policy, expect to pay $1,070 per year, according to recent data from the Insurance Information Institute. By clicking ‘Sign up’, you agree to receive marketing emails from InsiderĪs well as other partner offers and accept our
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