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How much car insurance coverage do you need and how much will it cost?
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This article was reviewed by Andrew Flueckiger, a member of the Finder Editorial Review Board and certified insurance counselor and licensed insurance agent in five states.
How much car insurance coverage you need and how much it’ll cost you depends on factors like your car’s age and how many miles you drive. But you can estimate how much you’ll pay for car insurance before you get quotes.
Quiz: What kind of car insurance do I need?
Take Finder’s 30-second quiz to find out what kind of coverage you need and how much it will likely cost you.
Calculator: How much can I save on car insurance?
Switching car insurance is the easiest way to save. Estimate how much money you could save by shopping around for cheaper quotes.
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How much should I pay for car insurance?
Your car insurance rate varies based on factors like where you live, what kind of car you drive, your driving habits and more. The annual average is $1,300, or about $108 per month throughout the US.
Average car insurance rates
Compare a few common examples of car insurance rates by driver type.
| Driver profile | Cars driven | Annual rate |
|---|---|---|
| Single driver, age 30 | Honda Accord | $1,978 |
| Couple, age 50 | Toyota Prius, Toyota Camry | $3,178 |
| Couple, age 25 | Toyota Camry, Honda Odyssey | $4,038 |
| Couple, age 40, with a teen driver | Toyota Camry, Hyundai Santa Fe | $6,923 |
How do I calculate my auto insurance rates?
Your individual circumstances, your car and the policy you choose affect the price you pay for car insurance. Insurers calculate costs based on your perceived risk.
Driver factors
- Age.Young drivers under 25 and seniors pay more due to more risk of getting in accidents.
- Credit score.A higher credit score means a lower rate in most states.
- Driving record.Claims and violations in your history mean that you’ll pay higher rates.
- Gender. Women generally pay less for car insurance, while male drivers under age 25 pay the most.
- Job.Some careers are riskier than others or lead to more time behind the wheel.
- Marital status. If you get married, you’ll see your premiums decrease.
Car or driving factors
- Car model. Your car’s make and model is the biggest insurance factor for setting rates, including its safety ratings, safety features and theft rates.
- Coverage. Buying higher coverage and additional types of coverage increase rates, while raising your deductible lowers rates.
- Discounts. The discounts you qualify for affect your rates, such as if you’re a homeowner or have extra safety features on your car.
- Driving habits. Your mileage, how much and where you drive all affect your rates.
- Location. Some areas see a higher risk for theft, storms or car accidents, leading to different rates based on your state and address.
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Bottom line
You may start your search for the right car insurance by comparing costs, but price and discounts aren’t the only factors. Understand what your policy covers and what level of coverage you need.
Research each provider to make sure you’re happy with your bills as well as your customer support, claims process, and account management. Compare car insurance options online to make your search easy.
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