How Much Is Car Insurance Per Month?

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How Much Is Car Insurance

How Much is Car Insurance Per Month?

This is a very common question asked by many newbies to the automobile insurance world. Since this is your first time owning a car, you may get confused by car insurance quotes as well as the endless terms and conditions. Everyone will try to sell you, and convince you that they offer the best insurance prices, however, don’t always believe their good words as it could just be a hollow sales pitch.

Before investing in any car insurance policy, you should dig deep into each company, get to know all charges and discounts attached to each insurance package. One of the easiest ways to find car insurance costs is to use websites such as SmartQuoteFinder. They have a well-structured database which features rates and details from top insurance companies like Geico, Progressive, Nationwide Insurance, Allstate, State Farm and many more.

The above-mentioned website will save you both time and money. This means you don’t have to call each and every car insurance company to inquire about costs. In all cases, it takes much longer than you expect, because you will need to answer all kinds of questions including things like; age, zip code, social security details, credit history, driving history and so much more. On the other hand, when you use a website like SmartQuoteFinder all you need to do is fill out a simple form which might take only five (5) minutes, and the response will be instant. They will analyze prices from up to thirty (30) of the largest insurance carriers and offer you the best available price in line with your exact requirements.

What Is The Average Cost of Auto Insurance Per Month For Different Age Group?

When an insurance company calculates the auto insurance rates they are going to offer, there are many factors that play a role in the final outcome of the quote you will receive. Some of these factors include gender, medical condition, credit history, driving history and last but not least, age.

There is a big myth about age and auto insurance rates. Most car drivers believe that when they turn 25 years old, their car insurance rates are going to drop significantly. This belief is only true to some extent. It is not the fact that the driver has turned 25 that dropped their rates alone; it is the fact that they now have over 5 years of driving experience in addition to the fact that the insurance company believes the driver is more mature then. Consequently, the insurance company also considers them a lower risk.

To help debunk this myth further, let’s put it to the test. Let’s say we are going to compare two drivers: one is 21 and the other is 25 years old. Assume that the 21-year-old was licensed right away at 16 years old, has maintained a great driving record and now has 5 years of driving experience. On the other hand, the 25-year-old did not get licensed right away. In fact, they did not get licensed until they were 23 years old. They too have maintained a great driving record, and they now have 2 years of driving experience.

Even though one is 21 and the other is 25 years old, which one do you think will have the cheapest auto insurance rates? Bingo! The 21-year-old in this case will have a lower monthly premium than the 25 years old. Now that the whole driving experience vs driver’s age myth has been broken down and explained, let’s take a look at the average car insurance costs per month for other age groups.

The statistics that are displayed below takes a look at annual rates from more than twenty (20) U.S. insurance companies and collectively how they rate drivers by age:

average car insurance cost by age

Source chart courtesy of: valuepenguin.

Here are the annual numbers broken down into estimated monthly premiums. The table below shows the average car insurance cost for a 16, 18, 21, 25, 30, 35, 40, 45, 50, 55, 60, 65 and 70 year old.


What Is The Average Monthly Cost of Car Insurance For Female and Male Drivers in Different Age Groups?

Men, there aren’t many ways around it. Insurance companies see women as a lower driving risk and, therefore, women enjoy lower rates than men. The numbers are in, and they do not lie. In 2012, 71% of all car accidents that resulted in death involved males. In 2008, drivers that died in fatal car crashes was 50% higher for men than for women. Also, in 2012, at the time of fatal car crashes, 23% of the time, the man was speeding when the accident occurred. This number for the same statistical fact was only 14% for women.

Another reason women enjoy a lower auto insurance rate besides that they do not take as many dangerous chances while driving on the roads is vehicle selection. Each car you choose to have your insurance company cover will cost you a different amount of money. This is because each insurance carrier has a different insurance rationale when it comes to the various types of vehicles. It just so happens that most men have a stroner preference of pick-up trucks or sports cars which are expensive to insure. Women, on the other hand, tend to choose non pick-up trucks and non-sports car vehicles when selecting cars.

Also, when it comes to driving under the influence (DUI) or driving while impaired (DWI), men win in this category too unfortunately!

So, what can a man do these days to get the same privileges as his female counterpart? Shop around. The insurance industry is ultra competitive. It is hard for them to find clients and even harder to keep them from jumping ship to their top competitors. What does this mean for men? It means that you are now able to get an auto insurance quote almost anywhere when you are searching online. With these websites knowing that they only get one chance to give you a rate before you hope to the next website, they are going to put their best foot forward and give you their best quote the first time, every time.

Statistical Data provided by dmv.

Average Car Insurance Cost By State In USA

Since you’re interested in more numbers, here’s approximately how much you will pay per month depending on the state you have your vehicle registered in. If you’re still puzzled on “How much is car insurance per month?” we have you covered. Please note that these figures are average estimates provided by various online car insurance calculators. You should still do your research and conduct your own due diligence to obtain custom quotes from multiple car insurance providers prior to signing up.

New Hampshire$82
New Jersey$159
New Mexico$114
New York$98
North Carolina$88
North Dakota$143
Rhode Island$168
South Carolina$110
South Dakota$130
Washington, D.C.$177
West Virginia$210

Source table courtesy of: valuepenguin.

Note: These costs are subject to change with time. Each insurance company has its own rates, but figures shown above are estimates of what you will spend per month on car insurance. Every state has its own laws and policies, that’s why you will notice that in some states the costs are low compared to others For example, in states like Michigan and West Virginia, you will spend $210 to $213 per month, yet in other states, for example in Iowa and Utah, you will spend between $88 to $99 per month.

With all these rates in mind, your driving and credit history will also determine how much your insurer will charge you per month. In most cases, applicants with a poor credit history and moving traffic violation issues will always be subjext to a higher rate because the insurance provider will categorize them as high-risk drivers who are more of a liability than an asset to them.

If you want to get all the facts about high risk auto insurance, I have the information for you here.

Tips On How To Get Car Insurance At A Low Cost

Now that we have covered some interesting facts about the average car insurance costs for various age groups, the average car insurance costs for female and male in different age group, the car insurance costs for all states in America, you still need to get some basics on how to get even the lowest possible insurance rate. Here is a list of tips that will enable you to obtain the cheapest auto insurance rates.

  • Local costs in each State: As we have seen in the above table, all fifty (50) states in the USA have their own car insurance rates due to different laws and regulations applicable. If you reside in a state where costs are high, you might consider moving to another state which has more favorable car insurance rates, however, changing locations will also mean that you need to change jobs, so, this option can work well for people with remote managed jobs or businesses.
  • Consider your situation: While choosing a car insurance package, most insurers will try to sell you what they think is good for you. And, they do this based on the information you have provided them. However, on many occasions, applicants withhold information that may end up putting them in a risky situation, especially when this information could help in determining which package will suit them best. So, with that in mind, ask yourself these questions: Do I own a home? Do I have property I could lose if I were hit with a lawsuit? Having all these questions answered, will help you know where you belong and this information will guide you well when choosing a car insurance package.
  • Use online tools: Remember, your main goal is to cut down on your insurance costs. So, if you decide to get an insurance policy from an insurance broker, make sure to ask about any discounts you could be eligible to receive. Also, using tools available online to get quotes will allow you to get quotes from multiple insurance carriers without ever leaving the comfort of your own These days, most, if not all car insurance companies have their own website where potential clients can get instant quotes online. These tools will calculate the insurance cost based on the information you provide: remember to always provide accurate information, otherwise, this may void your insurance policy when you want to file a claim. Upon receiving the online quote, you can pay the premium and sign up immediately.
  • Get an experienced agent: Companies like Geico, State Farm, Progressive, Allstate, Nationwide Insurance and many others have online insurance agents who can work hand-in-hand with you based on your circumstances. And the best part is that this service will not cost you any money. However, since these agents work for one company, this is called a “captive agent” in the industry. These agents can only answer questions regarding that particular company’s insurance policies. So, if you want to make say 5 price comparisons, you will have to go to 4 other captive agents. However, there are other types of agents available. They are called “independent agents”. They can work for one (1) agency but give you a quote from multiple insurances companies. When you walk out of their office, you are very likely to have 5 to 10 quotes in hand.
  • Make sure you’re comfortable with that insurer: Committing to one particular auto insurance company means you will always do business with them. So, as you make inquiries about which package suits you best, take note of other factors such as customer care services, response time and so forth. If you do not feel comfortable with them, it is natural to move to another insurer, especially if they have not made you feel important.

In Conclusion

I know there is a lot of information for you to assimilate. To sum this all up, before using the internet to get affordable car insurance quotes, you need to do the following:

1. Get all essential information:

In your quest for an affordable rate, you need to write down all essential information which is required by the agent. It does not matter if you plan to use a physical agent or an online portal either. In order to get the most accurate insurance rates and info, the agent / online system will require you to provide specific information that will include your: zip code, credit history, age, vehicle identification number, and more.

2. Online search:

All search engines, such as Google, Yahoo and Bing have vast amounts of information indexed from all web servers around the world. On the other hand, all car insurance companies have websites with essential information and quotes to help you make the right decision. So take advantage of the internet, in particular Google searches and query it in any way you want. You will also get a lot of information on reading my other post on Cheap Car Insurance Costs. If you want to simplify your search query, simply head to SmartQuoteFinder and this will analyze quotes from up to 30 insurance carriers and provide you with the bets one which matches the information you have provided.

3. Follow up with the insurance agent:

When you receive an online quote, it will be based on the information you have filled in online. Although the quote will generally be correct and accurate, however, at times, you may have entered information which you are not 100% sure of. If that is the case, it is advisable to contact that particular insurance company and have a one-on-one phone discussion. When you talk with the insurer, they will confirm the information you have provided as well as get more facts about you, which might lead to a reduction in the rate.

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