The cost of car insurance continues to vary by the car make, model and the policies of the insurance company. Therefore, it can be quite difficult to suggest how much is car insurance costing an average homeowner. In general, you will be paying anywhere between $926 and $2,201 for car insurance, depending upon the state that you are living in. In most of the states, the average is between $1200 and $1600 in a year which means an average of $100 or more per month.
As this kind of insurance is not avoidable, it becomes difficult for any individual not to pay it. This is also because a liability coverage for a car is one of the minimum requirements for legally driving a car in most of the states. If you don’t have liability coverage, you will be driving illegally in many states.
This was the cost of liability coverage only. If you want to move a step ahead, you will have to buy a collision coverage. This kind of coverage protects you against any collisions between two cars. Finally, there is the comprehensive coverage that will be providing you a great insurance coverage from almost any kind of incident, as mentioned in the insurance policy. These two would be increasing the cost of the car insurance considerably.
You can be paying almost double or even more in case you have bought all the three insurance policies. The insurance premiums have shown an upward trend in the past few years and it is expected that the cost of insurance would increase further in the years to come. A few states like Arkansas and Georgia have registered a 1 to 5% decrease in the cost of the car insurance as well. However, a majority of states will be finding an increase only.
Apart from the state-wise factors, your driving history, marital status, cost of the car and even your credit report would be affecting the exact insurance premium that you have to pay. In fact, your age also plays a major role in deciding the amount of insurance that you have to pay. For example, older drivers are considered to be more experienced and safe drivers. As a result of this, there car insurance premiums are also low. However, the younger drivers generally have to pay a very high rate of insurance. It would be better for you to get an online car insurance quote to check the exact quotes for yourself.
As this kind of insurance is not avoidable, it becomes difficult for any individual not to pay it. This is also because a liability coverage for a car is one of the minimum requirements for legally driving a car in most of the states. If you don’t have liability coverage, you will be driving illegally in many states.
This was the cost of liability coverage only. If you want to move a step ahead, you will have to buy a collision coverage. This kind of coverage protects you against any collisions between two cars. Finally, there is the comprehensive coverage that will be providing you a great insurance coverage from almost any kind of incident, as mentioned in the insurance policy. These two would be increasing the cost of the car insurance considerably.
You can be paying almost double or even more in case you have bought all the three insurance policies. The insurance premiums have shown an upward trend in the past few years and it is expected that the cost of insurance would increase further in the years to come. A few states like Arkansas and Georgia have registered a 1 to 5% decrease in the cost of the car insurance as well. However, a majority of states will be finding an increase only.
Apart from the state-wise factors, your driving history, marital status, cost of the car and even your credit report would be affecting the exact insurance premium that you have to pay. In fact, your age also plays a major role in deciding the amount of insurance that you have to pay. For example, older drivers are considered to be more experienced and safe drivers. As a result of this, there car insurance premiums are also low. However, the younger drivers generally have to pay a very high rate of insurance. It would be better for you to get an online car insurance quote to check the exact quotes for yourself.
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