How much will your car insurance cost?

Car Insurance is something every driver should look upon. Here we are going to talk about the average cost of car insurance and on factors that should be taken into consideration before making a purchase. So let’s talk about the average car insurance per month 2020

Before moving a little deeper into the subject, it is important that the average cost of car insurance premium varies immensely and depends upon many factors like your driving record, credit score, vehicle type, age and gender, state and geographical area, etc. If you are going to look into this matter, you are going to find a lot of resources. But here we did a detailed analysis and research on various factors before coming to a conclusion.

Given below is the chart with the average cost of car insurance depending upon various characteristics and scenarios.  

Driver Status Average Annual Rate
Good credit $951
After speeding ticket $1268
Poor Credit $1671
An at-fault total loss $1231
Married couple $2032
After a DUI $1687
Married couple Along with teenager $2904

Now let’s talk about the full coverage car insurance. The average cost on a full coverage car insurance combines many factors. These factors include comprehensive and collision coverages. The full coverages car insurance varies depending on different geographical areas. After the car coverage, there is also liability coverage that every driver should look into. The liability coverage should include both bodily injury and property damage in insurance coverage.  

Given below is the list for some areas with full coverage and liability coverage.

Cost Of Full Coverage with respect to different regions:

State Full Coverage per month Full Coverage per year
Alabama $142 $1,700
Alaska $129 $1,550
Arizona $150 $1,800
Arkansas $146 $1,750
California $142 $1,700
Colorado $163 $1,950
Connecticut $171 $2,050

Cost of liabilities with respect to corresponding areas:

State Minimum Liability Insurance Cost Per Year
Alabama $600
Alaska $450
Arizona $513
Arkansas $501
California $574
Colorado $553
Connecticut $821
DC $623

Now we have a brief idea of how much a car insurance cost and what are the factors that decide it. Now let’s talk about how you can save money on car insurance.

  1. Safe driving discount:

Having a clean record makes you eligible for a discount of up to 10-20%. This is because having a clean record makes less prone towards accidents which is favourable for an insurance agency.

  • Try Different Providers:

Trying out different provide gives you a wide sense and option to explore. This exploring will give an edge in the market and will help you develop an insight as well.

  • Increase the Deductibles: 

Increasing the deductibles will help you lower the overall premium cost which will help you manage your finance well.

  • Credit Score:

A good credit score has its own advantage. A good score work like a good image which will build repo up in front of the insurance company and will ultimately lead to low premium.

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