Are you looking for just the FAQs? Learn more about auto insurance by getting the most frequently asked questions answered right here in this article. Learn the difference between mandatory minimums to what total car insurance is. Be prepared for the next time you need to buy auto insurance.
How much is Insurance for a Car?
Car insurance can vary drastically depending on your own driving record, the state in which you live and the vehicle you are driving. There are many different factors that go into this calculation but there are some averages that can give you a ball park idea.
National average car insurance costs: $1,311 per year
Cheapest average car insurance state, Maine: $805 per year.
Most Expensive average car insurance state, Michigan: $2,476 per year
How much is Car Insurance per Month?
This obviously will depend on your policy and from which insurer you purchase auto insurance. Some auto insurers break down their policies into 6 month renewals while others have a 1 year policy. In either case, most insurers still offer this broken down into monthly payments.
Taken from the price averages listed above your monthly insurance cost could range from $67 a month to $206 per month for an average policy.
What is the Cheapest Car Insurance?
If you are a married female in Maine, driving a Honda Civic with the State minimum insurance coverage with no optional coverages, highly educated without any prior infractions and a spouse that does not drive, you could pay as little as $39 a month or $468 per year.
In Virginia, you can pay a $500 uninsured vehicle fee in order to drive a car that is totally uninsured. Not the cheapest insurance but one of the cheapest options to drive that is not recommended at all.
Often, the cheapest insurance will be the lowest price you are willing to pay for the best coverage policy available by comparison shopping. Low value coverages may not be the best route for many drivers where an accident could cause catastrophic financial ruin.
What is the Best Car Insurance?
According to JD Power and Associates most recent Insurance Shopping Study for 2015, the best car insurance provider was Erie Insurance with other 5 star rated insurers that included Ameriprise, The Hartford and USAA.
However, this customer buyer satisfaction survey may mean nothing to you and your specific needs. The best car insurance is the one that is personalized for your needs, offers the highest and most comprehensive coverages at the lowest possible price giving you the best coverage for the best value. This will take research on your part to conduct multiple online shopping comparisons providing the same information for all websites.