What is Bankrate 2021?
Bankrate utilizes Quadrant Information Services to analyze 2021 rates for all ZIP codes and carriers in all 50 states and Washington, D.C. Quoted rates are based on a 40-year-old male and female driver with a clean driving record, good credit and the following full coverage limits:
How does car insurance affect your rate?
Even within a state, your ZIP code can influence your premium. Car insurance rates are affected by local factors, including traffic, accidents in the area and the crime rate.
How much does car insurance cost?
In the United States, the average cost of full coverage car insurance is $1,674 per year, or $139.50 per month. However, the cost varies significantly based on location and personal factors, like your age and credit score.
What factors affect car insurance premium?
In addition to your state, vehicle type, age, driving record and gender, the following factors will impact your car insurance premium.
Why are car insurance costs higher for young drivers?
Insurance companies are aware of the fact that teens and young drivers — as well as the elderly — are more likely to get in an accident, so the car insurance costs that these drivers pay are typically higher to compensate for the greater risk.
What factors determine the cost of car insurance?
In addition to your state, vehicle type, age, driving record and gender , the following factors will impact your car insurance premium.
Which state has the highest auto insurance cost?
Louisiana has the highest average cost of full coverage auto insurance at $2,724 annually or $227 per month. Louisianans also pay the highest percentage of their median household income toward car insurance, a whopping 5.27%. Other high-cost states are Florida, New York, Michigan and Nevada.
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