How Much Does Car Insurance Cost?

People love to drive. We love our cars and getting out on the open road and just driving somewhere. What we don’t love is car insurance, however, car insurance is a necessity of owning a car. You have to have it in case of accidents. It is legally required and if you get caught driving without it, you can wind up with a big fine.

So how much does car insurance cost? There are many factors that affect car insurance premiums. You can get cheaper car insurance at some insurance providers but the deductible (how much you are required to pay in case something happens to the car) may be higher. If you want to know how much does car insurance cost, you will need to answer the following questions.

Where Do You Live?

Location can be a factor in determining how much car insurance costs. Some areas of the United States, for instance, have higher premiums than other areas which translates into higher monthly payments. Generally, urban areas such as cities with a high congestion of traffic are going to be higher than rural areas where there is less traffic.

How Old Are You?

Age is very important when determining the price of car insurance. As a basic rule of thumb, the younger you are, the higher your car insurance. The reasoning is that young drivers just don’t have enough experience behind the wheel. Between the ages of 30 to 60 are the best insurance rates for drivers. After 60, your insurance may start to go up again. Providers calculate factors such as slow reflexes and poor eyesight when determining rates.

What Kind of Car Is It?

This is a big factor. That bright red sports car with the 300 horsepower engine was not meant to be driven slow. Insurance providers are going to figure that sports cars are going to be driven at higher speeds which increase the risk for an accident. Also, the more expensive the car is, the higher the insurance rates. Expensive cars are going to cost more to repair if they get into an accident. If you an inexpensive drive a compact car, you are probably going to get better rates.

How Often Do You Drive?

Insurance providers are going to look at how often you drive your car. If you drive your car on that a long commute to work everyday, your insurance rates are going to be higher than if your car was parked most of the time because you took the train. If you don’t use your car very much, your rates will be a little cheaper.

Have You Been In Any Previous Accidents?

This is sort of like your driving resume when it comes to insurance rates. If you are a driver who has not been involved in any accidents and you have a clean driving record, you are going to get good rates because the insurance providers consider you to be less of a risk. If you have driven your way through one bang up after another, you are going to be considered a higher risk and your rates will be higher as well.

What Is the Average Insurance Price?

So after all of those considerations, just how much does car insurance cost? Well, the average driver in America can expect to pay anywhere from $120 to $300 a month for car insurance. That works out to a premium of anywhere from $1440 a year to $3600 a year. You can always shop around for the best rates or even consider dropping from comprehensive to liability insurance (but only if your car is paid for).

Auto Insurance for Teens

If you are a teenager with a driver’s license and a new-to-you car, you are probably itching to get out there and drive it! However, you are probably aware that it is against the law to drive on the public roads unless you have auto insurance. In addition, you probably also know how expensive it is for a teenager to get automobile insurance.

The companies come up with a dollar amount for your premium that is based on statistics that have been compiled for years. These statistics show, among other things, how many people your age have had accidents with their cars. Teens aged 16 to 19 are three times more likely to have a collision for every mile they drive than are senior citizens aged 65 to 69. Male teenagers who own sports cars can expect to pay more than other teens for their insurance, again because of statistics concerning sports cars and young men.

So, if you are a teenager who needs auto insurance, are you just doomed? Is there no way out of having to pay more for your insurance? If you can’t get on your parent’s policy, which would be the cheapest way out, you can certainly lower your rate. The first thing you need to do is to do your homework and compare the rates of all the insurance companies that you can by obtaining a quote from each. You’ll see that the rate can vary quite a bit from one company to the next.

Choose the one that looks the most promising as far as the rate goes, and then check out the company. Pick an agent that will listen to you and can answer any questions you may have. You want more than just a good rate on your insurance – you want to do business with a company that doesn’t mind taking up time with you in order to help you learn about your policy. The agent from the company that doesn’t attempt to rush you through making decisions about your policy is the one you want to go with. This agent will be able to tell you exactly what type of coverage you need. He or she will help make sure that you do not buy too much insurance, or too little.

Once you get your first insurance policy, look to the future. The things you do from here on out can help to make your future premiums cost less when the time comes to renew. Keep your credit record as pristine as possible. This is one thing an insurance company will always be interested in. Be a careful and safe driver, and keep your agent posted on any sort of changes in your life that could make a difference in your policy.

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