Insurance Rates and Estimates for Automobiles
How to Compare Automobile Insurance Quotes
Obtaining accurate auto insurance quotes requires that you first collect and organize your personal data, then select appropriate policy levels, apply all discounts, and last compare prices.
Gather personal information
Although you can acquire an online quotation with relatively little information, some companies may require details that you don’t readily have on hand, such as:
- Your VIN (Car Identification Number) and other vehicle details (make, model, and year)
- Identified devices in your car that prevent theft or increase its security.
- Your daily commute mileage or total mileage.
- Any driving issues, such as speeding fines, in the past five to ten years.
- Who you’re currently insured with and how long you’ve been with them.
- This is your Social Security number.
- The age at which you first obtained your driver’s license.
- Additions to your coverage, such as new drivers or cars, are subject to the same terms and conditions as described above.
Determine and maintain optimal coverage levels.
You may or may not need as much car insurance as you think you do. However, once you’ve determined the level of protection you require, it’s time to start comparing companies. In this way, you can rest assured that the costs you’re being quoted are an accurate reflection of the value the company is providing.
Apply all applicable discounts
Make sure you factor in any discounts that apply when filling out a web-based quote form. Discounts offered by different companies might have a big impact on the final cost. Some insurers may even insist that you get in touch with a representative over the phone to verify that all discounts are factored into your quote.
Despite cuts, your focus should be on the bottom line. Even if an insurance provider offers substantial discounts, you shouldn’t care much about it if their rates are still equivalent to those of their competitors once the discounts are applied.
Compare auto insurance rates from various providers.
Assuming you’ve followed these steps, you can confidently compare vehicle insurance quotes. It is recommended that you compare at least three different auto insurance providers, but the more the better. Compare insurers’ customer service records to ensure your organization will be efficient and fair when filing a claim, not just for the sake of savings. Simply enter your ZIP code below to get an instant quote from many auto insurance providers serving your area.
Car Insurance Coverage Comparison
It’s more expensive to insure both young, inexperienced drivers and senior citizens. There is a disproportionately high number of accidents and fatalities among people in these two age groups compared to those in any other demographic.
MoneyGeek discovered:
- The typical 40-year-old motorist would spend $1,336 in vehicle insurance per year.
- The typical 70-year-old motorist would spend $1,390 in vehicle insurance each year.
- The typical 18-year-old driver would spend $4,868 in vehicle insurance per year.
The table below provides annual average rates for each age group across the nine major auto insurance providers.
PREMIUMS FOR ANNUAL CAR INSURANCE BY AGE
| Company | 18-Year-Old | 40-Year-Old | 70-Year-Old |
|---|---|---|---|
| Allstate | $3,916 | $1,351 | $1,377 |
| Farmers | $6,681 | $1,578 | $1,655 |
| GEICO | $3,488 | $1,047 | $1,151 |
| MetLife | $6,411 | $1,686 | $1,665 |
| Nationwide | $4,912 | $1,341 | $1,345 |
| Progressive | $5,990 | $1,381 | $1,547 |
| State Farm | $3,280 | $1,235 | $1,145 |
| Travelers | $6,751 | $1,525 | $1,658 |
| USAA | $2,382 | $883 | $96 |
According to the National Safety Council’s (NCS) data:
- Drivers between the ages of 16 and 19 account for just 3.5% of all licensed drivers yet have the highest accident rate – 22,103 crashes per 100,000 drivers.
- Drivers aged 35 to 44 account for 16.5% of licensed drivers, yet have a crash rate of 9,062 per 100,000 drivers.
- Drivers aged 65 to 74 make up 13.7% of all licensed drivers, with an accident rate of 4,383 per 100,000 drivers.
- The NCS reported that although the accident rate falls generally as driver age rises, the fatal crash rate increases for drivers 75 and older.
Insurance premiums can be particularly steep for new drivers. If you’re like a lot of people, you’ve probably wondered if you need your own insurance or if you can stay on your parents’ plan. Before making a decision, it’s important to learn as much as possible about affordable student vehicle insurance options.
This also applies to senior drivers. Finding the best auto insurance that’s right for you as a senior might be done in other ways.
Car Insurance Quotes Sorted By Vehicle Type
Your car insurance premiums may be affected by factors such as your driving record and the type of vehicle you drive. Insurance premiums rise in line with the replacement cost of a damaged asset. The cost of insuring a car depends on a variety of factors, such as repair costs, safety ratings, theft risk, and whether or not it is the type of vehicle in which drivers are less likely to drive safely, such as a sports car.
According to research, there is an approximate $1,800 year difference in the cost of auto insurance across different models. Insuring our fictitious driver for the year cost $1,085 for a Jeep Patriot and $2,878 for a Tesla Model Y.
If you’re in the market for a car but are still deciding between a few different makes and models, it’s a good idea to get a number of different insurance quotes to look at side by side. Annual premiums for more than 50 different car models are displayed in the following graph.
COMPARISON OF CAR INSURANCE RATES – BY CAR MODEL
| Company | Average Driver | Speeding ticket | Increase for Ticket vs Average(10%) |
|---|---|---|---|
| Allstate | $1,351 | $2,034 | 50.56% |
| Farmers | $1,578 | $2,364 | 49.81% |
| GEICO | $1,047 | $1,660 | 58.55% |
| MetLife | $1,686 | $3,114 | 84.70% |
| Nationwide | $1,341 | $1,950 | 45.41% |
| Progressive | $1,381 | $2,452 | 77.55% |
| State Farm | $1,235 | $1,583 | 28.18% |
| Travelers | $1,525 | $2,373 | 55.61% |
| USAA | $883 | $1,337 | 51.42% |
Car Insurance Quotes Based on Credit Score
Typically, a person’s credit score is included in by insurance companies when quoting a policy. In some cases, your credit score can have a significant impact on your auto insurance premium, with the best rates going to individuals with good credit.
According to our data:·
- A motorist with excellent credit would spend an average of $1,337 for vehicle insurance each year.
- The same motorist with fair credit would pay an additional $1,597 per year – a 16% increase.
- An equivalent motorist with bad credit would pay $2,466 — 63% more than a driver with fair credit and 88% more than a person with excellent credit.
It is possible to get low-cost auto insurance even if you have a low credit score. Examine the data below to see how different insurance policies fare in light of varying credit ratings.
CAR INSURANCE RATES COMPARISON BY CREDIT SCORE
| Company | Poor Credit | Fair Credit | Good Credit |
|---|---|---|---|
| Allstate | $2,254 | $1,604 | $1,351 |
| Farmers | $3,281 | $1,776 | $1,578 |
| GEICO | $1,681 | $1,211 | $1,047 |
| MetLife | $4,248 | $2,332 | $1,686 |
| Nationwide | $1,780 | $1,518 | $1,341 |
| Progressive | $2,475 | $1,792 | $1,381 |
| State Farm | $2,527 | $1,482 | $1,235 |
| Travelers | $2,490 | $1,722 | $1,525 |
| USAA | $1,460 | $936 | $883 |
A good credit score for loans and credit cards is not necessarily a good one for auto insurance. According to the National Association of Insurance Commissioners, the top three factors in determining a credit-based insurance score are payment history, outstanding debt, and length of credit history (NAIC).
Credit score ranges for this example are defined as:
- Good: 769–794
- Fair: 710–740
- Poor: 524–577
All but two states use credit scores in some way for calculating car insurance premiums. The only states that do not factor credit scores into auto insurance rates are California, Hawaii, and Massachusetts.
Auto Insurance Quotes by State
Different states have different requirements for auto insurance. Auto insurance rates can vary depending on the coverages you choose. Some countries mandate that all auto insurance policies include particular types of coverage, such as personal injury protection (PIP) and uninsured/underinsured motorist (UM) protection, while others provide these policies as extras for consumers to choose from.
| State | Avg. Yearly Rate | Avg. Monthly Rate |
|---|---|---|
| Alabama | $1,221 | $102 |
| Alaska | $984 | $82 |
| Arizona | $1,284 | $107 |
| Arkansas | $1,189 | $99 |
| California | $1,429 | $119 |
| Colorado | $1,450 | $121 |
| Connecticut | $1,442 | $120 |
| Delaware | $1,483 | $124 |
| District of Columbia | $1,202 | $100 |
| Florida | $2,208 | $184 |
| Georgia | $1,638 | $137 |
| Hawaii | $1,066 | $89 |
| Idaho | $745 | $62 |
| Illinois | $1,134 | $95 |
| Indiana | $725 | $60 |
| Kansas | $931 | $78 |
| Kentucky | $1,405 | $117 |
| Louisiana | $3,041 | $253 |
| Maine | $607 | $51 |
| Maryland | $2,127 | $177 |
| Massachusetts | $1,112 | $93 |
| Michigan | $4,333 | $361 |
| Minnesota | $1,199 | $100 |
| Mississippi | $1,112 | $93 |
| Missouri | $1,305 | $109 |
| Montana | $1,216 | $101 |
| Nebraska | $923 | $77 |
| Nevada | $1,900 | $158 |
| New Hampshire | $778 | $65 |
| New Jersey | $1,674 | $139 |
| New Mexico | $1,133 | $94 |
| New York | $3,433 | $286 |
| North Carolina | $841 | $70 |
| North Dakota | $743 | $62 |
| Ohio | $803 | $67 |
| Oklahoma | $1,299 | $108 |
| Oregon | $1,181 | $98 |
| Pennsylvania | $1,818 | $151 |
| Rhode Island | $1,822 | $152 |
| South Dakota | $817 | $68 |
| Tennessee | $1,018 | $85 |
| Texas | $1,316 | $110 |
| Utah | $1,154 | $96 |
| Vermont | $812 | $68 |
| Virginia | $790 | $66 |
| Washington | $1,264 | $105 |
| West Virginia | $1,016 | $85 |
| Wisconsin | $933 | $78 |
| Wyoming | $851 | $71 |
Why should you look at prices in different states?
Location is a factor in determining how much you pay for vehicle insurance. What makes a state exceptional, such as its climate and population density, may also have an impact on its rates. Your auto insurance premium may be affected by your location in the following ways:
1) Bad Weather: If you live in a state where hurricanes, tornadoes, and flooding are more likely, you can expect to pay more for insurance, especially if you want full coverage.
2) Thefts: States with a lot of car thefts may have higher car insurance rates, especially for full coverage, than states with fewer car thefts.
3) State Insurance Requirements: If you have to meet state insurance requirements, such as higher liability limits, your car insurance rates could be higher than in states with lower limit requirements.
4) Number of claims in the area: Car insurance rates could go up for everyone in some areas of states with more than average claims, not just those who file claims.
Compare insurance quotes from several providers to find the cheapest rates in your state. The insurance provider with the lowest prices in your state may not be the best option for you.
See the breakdown below for an idea of what you might expect to pay in a given state or municipality. To be considered, a company must provide medical services in at least 30 different states. Prices are estimates only and do not reflect actual costs across all 50 states and their individual cities. However, you may use these quotes to gain a sense of which auto insurance providers in a given state or location often provide the best coverage at the most affordable rates.
