Car insurance costs are still increasing in 2024. The average cost of a full coverage policy is $1,895, while a liability-only policy averages $647. Insurers consider several factors, which affect how much you pay for your insurance policy.
Learn how much car insurance costs in each state in 2024 – as well as rates by age/gender and vehicle type.
- Your car insurance premium will vary depending on a variety of factors including your personal risk factors and the vehicle you are driving.
- Maine has the cheapest average car insurance cost – $1,175 per year for full coverage.
- The average premium for full coverage insurance will always be higher than that for a liability-only policy. Full coverage insurance averages $1,895, while a liability-only policy costs $647 per year for 50/100/50 limits.
The average cost of car insurance
In 2024, the nationwide average cost of car insurance is $1,895 per year or $158 per month. CarInsurance.com editors recommend that most drivers carry full coverage car insurance with limits of 100/300/100.
How much is car insurance per month?
The cost of car insurance will vary based on a variety of your personal and vehicle risk factors. Insurers will consider your driving record, age, marital status, and credit score as well as the vehicle you are insuring.
The national average for coverage came in at $158 per month, but your premium may be higher or lower depending on the insurance company you choose and your personal risk factors.
Average car insurance rates, based on coverage level
Car insurance rates vary depending on what coverages you are carrying and your coverage levels. Here is a breakdown of coverages and coverage levels and how they impact your premium.
Coverages: If you have a liability-only policy your premium will almost always be less than a full coverage policy. Liability-only policies will help cover medical and legal bills if you injure someone with your vehicle. It will also pay to repair the other person’s vehicle, but it doesn’t protect your car or cover your injuries.
Full coverage on the other hand offers liability coverage as well as collision and comprehensive which will pay to repair your vehicle after an accident. Comprehensive will repair or replace your car if it is damaged or destroyed by something other than a collision: animal strikes, theft, vandalism, fire, or flood are all covered.
Coverage levels: Your coverage levels also impact your premium. The higher your coverage levels, the more you will pay for coverage as your insurer is on the hook for a higher amount after a claim.
Here are three different coverage levels; as you can clearly see, the more coverage you carry, the higher your premium. The table below shows the national average rates for full coverage with limits of 100/300/100, liability-only coverage with 50/100/50 limits and the state minimum liability-only coverage.
| Coverage Level | Annual cost | Monthly cost |
|---|---|---|
| Full coverage | $1,895 | $158 |
| Liability only | $647 | $54 |
| State minimum | $502 | $42 |
What are the risks of carrying low liability limits?Most states require drivers to carry a minimum amount of liability insurance to register their vehicles and legally drive on public roads. However, the state minimum coverage requirements probably won’t be enough to cover your liabilities in full if you cause an accident. If your financial responsibilities exceed your liability insurance coverage limits, you must pay the difference out of pocket. And if you aren’t able to pay, the other driver could sue you to recoup the money you owe them.
Check out our detailed guide on auto insurance limits.
Average car insurance cost, by company
Insurance companies rate risk differently, which can result in dramatic differences in premium quotes. Insurers use proprietary algorithms, so your risk factors can push your rate up or down, depending on the company.
Finding the right insurer for you can take some time and research, but shopping your coverage regularly is one of the best ways to keep your premium affordable. Shop around annually and always compare apples to apples regarding coverage levels and deductibles.
See monthly and annual rates for state minimum and full coverage in the table below.
| Company | State minimum annual rates | State minimum monthly rates | Full coverage annual rates | Full coverage monthly rates |
|---|---|---|---|---|
| Nationwide | $532 | $44 | $1,548 | $129 |
| Travelers | $518 | $43 | $1,606 | $134 |
| Geico | $405 | $34 | $1,763 | $147 |
| State Farm | $497 | $41 | $1,975 | $165 |
| Progressive | $549 | $46 | $1,998 | $166 |
| Farmers | $701 | $58 | $2,387 | $199 |
| Allstate | $700 | $58 | $2,509 | $209 |
Average cost of car insurance by state
Insurance laws are controlled at the state level, so car insurance rates vary dramatically between states. Various factors can impact rates including weather, crime rates and even state laws.
Frequent severe weather will result in a higher average premium than a state that rarely experiences storms. Crime rates will increase insurance premiums as insurers have to cover the damages if your vehicle is stolen or vandalized.
Population density is also a factor in the equation: More cars equals more accidents. Dense urban centers tend to have higher crash rates than rural areas.
We ran the numbers and here are the average rates by state. The results are in the table below.
| State | Annual full coverage rates | Monthly full coverage rates |
|---|---|---|
| Alabama | $1,860 | $155 |
| Alaska | $1,676 | $140 |
| Arizona | $1,812 | $151 |
| Arkansas | $1,957 | $163 |
| California | $2,416 | $201 |
| Colorado | $2,337 | $195 |
| Connecticut | $1,725 | $144 |
| Delaware | $2,063 | $172 |
| Florida | $2,694 | $224 |
| Georgia | $1,970 | $164 |
| Hawaii | $1,517 | $126 |
| Idaho | $1,428 | $119 |
| Illinois | $1,532 | $128 |
| Indiana | $1,515 | $126 |
| Iowa | $1,630 | $136 |
| Kansas | $1,900 | $158 |
| Kentucky | $2,228 | $186 |
| Louisiana | $2,883 | $240 |
| Maine | $1,175 | $98 |
| Maryland | $1,746 | $145 |
| Massachusetts | $1,726 | $144 |
| Michigan | $2,352 | $196 |
| Minnesota | $1,911 | $159 |
| Mississippi | $2,008 | $167 |
| Missouri | $1,982 | $165 |
| Montana | $2,193 | $183 |
| Nebraska | $1,902 | $159 |
| Nevada | $2,060 | $172 |
| New Hampshire | $1,265 | $105 |
| New Jersey | $1,902 | $159 |
| New Mexico | $2,049 | $171 |
| New York | $1,870 | $156 |
| North Carolina | $1,741 | $145 |
| North Dakota | $1,665 | $139 |
| Ohio | $1,417 | $118 |
| Oklahoma | $2,138 | $178 |
| Oregon | $1,678 | $140 |
| Pennsylvania | $1,872 | $156 |
| Rhode Island | $2,061 | $172 |
| South Carolina | $2,009 | $167 |
| South Dakota | $2,280 | $190 |
| Tennessee | $1,677 | $140 |
| Texas | $2,043 | $170 |
| Utah | $1,825 | $152 |
| Vermont | $1,319 | $110 |
| Virginia | $1,469 | $122 |
| Washington | $1,608 | $134 |
| Washington, D.C. | $2,157 | $180 |
| West Virginia | $2,005 | $167 |
| Wisconsin | $1,664 | $139 |
| Wyoming | $1,758 | $146 |
Most expensive states for car insurance
Some states have much higher car insurance premiums than others. Rates can be impacted by location-specific factors like severe weather risks, the number of uninsured drivers, the frequency of insurance claims in the area and the crime rate. These are the five most expensive states for auto insurance:
- Louisiana: $2,883 per year
- Florida: $2,694 per year
- California: $2,416 per year
- Colorado: $2,337 per year
- South Dakota: $2,280 per year
States with the cheapest car insurance rates
Drivers in certain states may get a break on their auto insurance premiums. Here are the five cheapest states for car insurance:
- Maine: $1,175 per year
- New Hampshire: $1,265 per year
- Vermont: $1,319 per year
- Ohio: $1,417 per year
- Idaho: $1,428 per year
Check out our detailed guide on car insurance rates by state.
Average car insurance cost by age and gender
Insurers consider your age and gender when setting a rate, and young male drivers tend to pay the highest rates. In most cases, car insurance is very expensive for young drivers. It levels out in your 20s and 30s and heads up again as you hit 70.
Teens are expensive to insure because they are inexperienced and tend to get in more accidents. According to the Insurance Institute for Highway Safety, the fatal crash rate per mile driven for 16- to 19-year-olds is nearly three times the rate for drivers ages 20 and over, with the risk being the highest for ages 16 to 17.
Rates start to drop in your 20s assuming you keep your record clean and will start to climb again when you hit your golden years. Senior rates tend to be higher as they are involved in more accidents and experience more injuries in accidents.
Gender also impacts your car insurance rates; in this case, men pay more. Statistics show that men are involved in more accidents and claims and typically pay higher rates. In most cases, the difference is not huge, with the biggest gap being between teen male and female drivers. In the table below, see rates by age and gender.
Note that age and gender can’t be used as rating factors in all states, but most do allow it.
| Age | Annual rates for females | Monthly rates for females | Annual rates for males | Monthly rates for males |
|---|---|---|---|---|
| 18 | $4,943 | $412 | $5,533 | $461 |
| 19 | $3,871 | $323 | $4,360 | $363 |
| 20 | $3,527 | $294 | $3,935 | $328 |
| 25 | $2,219 | $185 | $2,291 | $191 |
| 40 | $1,894 | $158 | $1,895 | $158 |
| 65 | $1,728 | $144 | $1,752 | $146 |
Which ages are the costliest for car insurance?
Average auto insurance rates by vehicle make and model
The type of vehicle you are driving will impact your insurance costs. Sport and luxury vehicles are almost always expensive to insure while a minivan or sedan will be more affordable for coverage.
Here are a few of the more common vehicle types and where they fall when it comes to insurance costs:
- SUVs: SUVs are pretty reasonable to insure because they often do well in crash tests, and they are popular which helps lower repair costs as there are plenty of parts around. However, luxury SUVs can be pricey to insure due to their high sticker price and expensive trim materials, making repairs expensive.
- Sports cars: A sports car will almost always be more expensive to insure than a comparable sedan or SUV. Sports cars tend to have big engines, are often owned by more risky drivers and typically have a high sticker price and expensive repairs, all leading to sky-high insurance rates.
- Luxury vehicles: In general, the more expensive the vehicle, the higher the premium. Luxury vehicles are typically expensive and are loaded with costly technology and trim materials, making them expensive to repair. All of these factors mean your luxury vehicle will be much more expensive to insure.
- Electric vehicles: Electric vehicles are usually more expensive to insure than their gas counterparts. This is because they often have a higher sticker price, are packed with pricey technology and have a big, very expensive battery under the hood.
In the table below, see how much car insurance costs for a full coverage policy for various types of vehicles.
| Vehicle type | Annual rate | Monthly rate |
|---|---|---|
| Convertible | $2,768 | $231 |
| Electric | $2,799 | $233 |
| Hatchback | $1,976 | $165 |
| Hybrid | $2,307 | $192 |
| Luxury Car | $3,078 | $256 |
| Luxury SUV | $2,615 | $218 |
| Minivan | $1,956 | $163 |
| Performance SUV | $3,129 | $261 |
| Sedan | $2,120 | $177 |
| Sports Car | $3,229 | $269 |
| Station Wagon | $2,471 | $206 |
| SUV | $1,935 | $161 |
| Truck | $2,152 | $179 |
| Van | $1,795 | $150 |
In the end, the vehicle’s market value is one of the most important factors.
“An old, used sports car could be cheaper to insure than a new minivan,” says Jim Brau, Joel C. Peterson Professor of Finance at Brigham Young University Marriott School of Business. “What matters is the value of the vehicle that is to be replaced if it is damaged. When vehicles are totaled, insurance companies are on the hook to pay the value of the vehicle. In general, the more expensive to replace the vehicle, the more expensive the insurance.”
Learn more: Car insurance by make and model.
Average car insurance cost by violation
Drivers with certain violations on their record usually pay higher rates for car insurance. For example, if you receive a citation for distracted driving, your car insurance premium will increase by an average of 31%. If you get convicted of a DUI, your premium will increase by an average of 102%. The national average car insurance rates before a violation are $1,895.
In the table below, you can see the average cost of auto insurance for certain traffic violations.
| Violation | Avg annual rates after the violation | % increase | $ increase |
|---|---|---|---|
| Careless driving | $2,803 | 48% | $906 |
| Distracted driving ticket | $2,492 | 31% | $595 |
| Driving without a license or permit | $2,473 | 30% | $576 |
| Driving without insurance | $2,323 | 22% | $426 |
| DUI/DWI first offense | $3,849 | 103% | $1,952 |
| DUI/DWI second offense | $5,804 | 206% | $3,907 |
| Failure to stop | $2,433 | 28% | $536 |
| Failure to yield | $2,428 | 28% | $531 |
| Following too closely | $2,443 | 29% | $546 |
| Hit and run – injury | $3,860 | 103% | $1,963 |
| Hit and run – property damage | $3,708 | 95% | $1,811 |
| Improper turn | $2,434 | 28% | $537 |
| Improper/illegal pass | $2,445 | 29% | $548 |
| Operating a vehicle in a race (highway racing) | $3,772 | 99% | $1,875 |
| Passing stopped school bus | $2,522 | 33% | $625 |
| Reckless driving | $3,609 | 90% | $1,712 |
| Seatbelt infraction | $2,297 | 21% | $400 |
| Speeding ticket 1-10 MPH over limit | $2,401 | 27% | $504 |
| Speeding ticket 11-29 MPH over limit | $2,576 | 36% | $679 |
| Speeding 30+ over limit | $2,765 | 46% | $868 |
| 2 speeding tickets 11 mph or over | $2,994 | 58% | $1,097 |
| Talking on cellphone ticket | $2,420 | 28% | $523 |
| Texting ticket | $2,425 | 28% | $528 |
Find out if you’re paying too much for car insurance
Final thoughts on how much car insurance costs
Car insurance premiums will vary dramatically depending on various factors. As the data clearly shows, rates can be impacted by the state you live in due to weather and crime factors, the type of vehicle you drive, the insurance company you use, and even the coverages you carry.
While many factors that insurers consider are out of your control, such as your local weather and crime rates, you can control other factors. To keep your car insurance affordable, avoid sports cars, drive safely, shop your coverage regularly and maintain a strong credit score.
Read more: What are the factors that affect car insurance rates?
FAQ: How much is car insurance?
What factors do insurers consider when setting a premium?
Insurance companies will look at your personal risk factors and your vehicle. Your driving record, credit score, the neighborhood the vehicle will be parked in, and your age and marital status are just a few factors they will consider.
Insurers will also factor in the vehicle you are driving. A big engine (or battery for EVs) will always push up the insurance cost as will a high value.
Why are EVs so expensive to insure?
Many electric vehicles are expensive, and they have a pricey battery. High-priced vehicles are more expensive to insure because your insurance company will have to pay to replace the vehicle if it is stolen or destroyed by a covered peril. In addition, the battery that powers an EV can be very pricey to replace or repair.
A battery can cost up to $25,000, and your insurer is on the hook for that cost which will always push up your premium.
Why is car insurance so expensive for teens?
Age is one factor that insurers consider when setting your rate and young drivers always pay the highest premiums. Insurers love statistics, and the data show that teen drivers are more involved in accidents and claims than older drivers. Since teens are involved in more claims insurers will charge a higher premium for coverage.
Resources & Methodology
Methodology
CarInsurance.com editors collected 2023 rates from Quadrant Information Services for a 40-year-old male and female driving a Honda Accord LX with a good insurance score and no violation on record for a full coverage insurance policy with limits 100/300/100 and $500 comprehensive and collision deductible. We analyzed 51,088,003 records, 34,588 ZIP codes and 167 insurance companies across the nation.
To determine how much car insurance rates increase after different violations, we evaluated the sample profile of a 40-year-old male and female driver carrying full coverage policy with limits 100/300/100. We compared 50,73,544 insurance quotes from 41 company groups across 1,468 ZIP codes.
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