Insurance
When it comes to car insurance, cost is an important factor to consider. Depending on where you live, the age of the driver, and the type of car, the average monthly cost of car insurance can be drastically different. In this article, we will take a look at the average car insurance cost by age and state and how you can save money on your car insurance.
Average Car Insurance Rates by Age
As expected, younger drivers tend to pay more for car insurance than older drivers. This is because younger drivers, especially those between the ages of 16 and 25, are more likely to be involved in an accident than drivers over the age of 25. The average car insurance cost for drivers between the ages of 16 and 25 is typically around $140 per month. Drivers between the ages of 26 and 65 generally pay an average of around $90 per month.
Average Car Insurance Rates by State
The average car insurance cost can vary greatly from state to state. The cost of car insurance in New York, for example, is typically much higher than the cost of car insurance in states like Idaho. This is because the cost of living and the cost of doing business in New York is much higher than in other states. Generally, the states with the highest average car insurance cost are Michigan, Florida, California, and New Jersey.
How to Save Money on Car Insurance
There are several ways to save money on your car insurance. The first is to shop around for different providers and compare rates. Different companies offer different rates, so it is important to compare prices. Additionally, many companies offer discounts for things like having multiple cars insured with them, having a good driving record, and being a loyal customer. Finally, you can also save money by increasing your deductible and taking advantage of other discounts offered by your provider.
Conclusion
The average car insurance cost per month can vary greatly depending on the age of the driver and the state in which they live. Younger drivers tend to pay more for car insurance than older drivers, and the cost of car insurance can vary greatly from state to state. Fortunately, there are several ways to save money on your car insurance by shopping around for the best rates, taking advantage of discounts, and increasing your deductible.