Just how much you're going to pay for auto insurance depends on where you live, how old you are, and (unless you live in California) your gender. The average car insurance rate is different in each state, so what one person living in Florida may pay for, say, a Nissan Altima may not be the same as someone living in Montana.
Average Car Insurance Rate by State
According to ValuePenguin, the average auto insurance amount in the US (first month of 2019) was $941.65. This figure is extremely high simply because of how different each state’s average car insurance amount is.
While we aren’t going to rank all 50 states for the best and worst auto insurance rates, we can give you ValuePenguin’s top and bottom five.
The states with the lowest average annual car insurance cost:
- North Dakota: $428
- Ohio: $500
- North Carolina: $520
- Idaho: $552
- Maine: $556
The states with the highest average annual auto insurance cost:
- Louisiana: $1,824
- Michigan: $1,600
- Florida: $1,596
- California: $1,588
- Rhode Island: $1,544
Average Auto Insurance Rate by Age and Gender
The other big factors that determine your car insurance rate are how old you are and whether you’re a male or female. The California Insurance Commissioner recently banned using gender as a factor in auto insurance rates, but that doesn’t mean your age is off the hook.
Generally, the younger you are, the higher your insurance premiums are going to be. This is because younger drivers pose a bigger risk than older, more experienced ones.
ValuePenguin determined these were the average monthly car insurance premiums by age:
- 16-year-olds: $344.78
- 25-year-olds: $111.89
- 30-year-olds: $100.44
- 45-year-olds: $95.78
- 60-year-olds: $91.44
When it comes to gender, young males have higher average auto insurance premiums compared to young females. As they age, the roles are reversed, and older women end up having higher average car insurance premiums compared to older men.
How to Get Cheaper Car Insurance
Depending on where you live and how old you are, finding cheap auto insurance can be tough. But there are factors you can control that do affect your car insurance rate such as keeping a clean driving record, picking a cost-friendly vehicle, and taking steps to improve your credit.
To go more in depth about how to pay less for auto insurance, check out this article.
The Bottom Line
You must have full coverage insurance when you finance a vehicle. Car insurance isn’t always affordable, so make sure you take that into account when budgeting for your next vehicle. You can compare and shop for auto insurance rates here.
If you have poor credit and need help locating a dealership that can get you financed, we want to help. Auto Credit Express helps people find car loans by connecting them to local special finance dealers.
Our partner dealerships are signed up with a wide range of lenders that know how to help bad credit borrowers. Get started today by filling out our auto loan request form.