Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in states where it is licensed. Coverage.com may not offer insurance coverage in all states or scenarios. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way.
Average cost of car insurance in June 2023
The monthly average cost of car insurance for drivers in the U.S. is $168 for full coverage and $52 for minimum coverage.
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What To Know First
Temperatures are rising as we head into summer, but unfortunately, so are average car insurance premiums. If you’ve gotten your renewal, you may have noticed that your rates are more expensive in 2023. We’re here to help. Bankrate's editorial team includes licensed insurance agents with decades of real-world industry experience. Our goal is to give you an idea of the average cost of car insurance across the U.S. and help you better understand your rates and what may influence them.
To find the average cost of car insurance, our insurance editorial team evaluated dozens of carriers based on a variety of factors. These included car insurance rates by state, insurance carrier, vehicle manufacturer, driving record, driver’s age and gender (where permitted), among other factors.
On This Page
- How much is car insurance?
- How much does car insurance cost by state?
- How much does car insurance cost by company?
- How much does car insurance cost by age?
- How does gender impact the cost of car insurance?
- How does driving record impact the cost of car insurance?
- How much does car insurance cost by credit score?
- How much does car insurance cost by vehicle type?
- How are car insurance rates changing?
- What factors affect my car insurance price?
- How to find the best car insurance prices
- Frequently asked questions about car insurance cost
- Methodology
How much is car insurance?
What would you like to do today?
Key insights from Bankrate's 2023 car insurance rates analysis:
- Full coverage car insurance costs an average of $2,014 per year, while minimum coverage is $622 per year. On a monthly basis, full coverage averages $168, with minimum coverage averaging $52 per month.
- Geico, Erie and USAA offer some of the cheapest full coverage car insurance, but are not all available to all drivers.
- Auto-Owners, Geico and USAA offer the cheapest minimum coverage car insurance among companies we analyzed, on average.
- Although men tend to pay more for car insurance than women, this is not the case for 50-year-old drivers. 50-year-old women pay, on average, $2 more a year for full coverage car insurance than 50-year-old men.
- Some vehicles experience higher average insurance premiums than others because of MSRPs, safety features, repair costs, parts availability and other variable characteristics. For example, the average cost of full coverage insurance for a Tesla Model 3 is 60 percent higher than for a Subaru Outback.
Compare auto insurance rates
Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in states where it is licensed. Coverage.com may not offer insurance coverage in all states or scenarios. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way.
How much does car insurance cost by state?
On average, car insurance costs around $2,014 per year for full coverage and $622 per year for minimum coverage. However, when determining “how much does car insurance cost” in a specific area, the answer can vary depending on a variety of factors. The state where you live, individual rating factors, accident and claim reporting frequency, and even cost of labor and parts can cause one city or state to be more expensive than others.
Average car insurance cost by state in 2023
|
State
|
Avg. annual full coverage premium
|
Avg. annual min. coverage premium
|
|---|---|---|
| Alabama | $1,843 | $441 |
| Alaska | $1,946 | $421 |
| Arizona | $1,810 | $587 |
| Arkansas | $1,907 | $443 |
| California | $2,291 | $636 |
| Colorado | $2,121 | $500 |
| Connecticut | $1,533 | $620 |
| Delaware | $2,103 | $801 |
| Florida | $3,183 | $1,128 |
| Georgia | $2,085 | $639 |
| Hawaii | $1,275 | $344 |
| Idaho | $1,133 | $267 |
| Illinois | $1,806 | $552 |
| Indiana | $1,295 | $327 |
| Iowa | $1,315 | $223 |
| Kansas | $1,878 | $416 |
| Kentucky | $2,124 | $678 |
| Louisiana | $2,909 | $805 |
| Maine | $941 | $225 |
| Maryland | $1,971 | $815 |
| Massachusetts | $1,262 | $429 |
| Michigan | $2,691 | $1,104 |
| Minnesota | $1,760 | $585 |
| Mississippi | $1,771 | $446 |
| Missouri | $1,943 | $490 |
| Montana | $1,889 | $310 |
| Nebraska | $1,624 | $359 |
| Nevada | $2,779 | $973 |
| New Hampshire | $1,262 | $319 |
| New Jersey | $1,754 | $782 |
| New Mexico | $1,591 | $346 |
| New York | $3,139 | $1,371 |
| North Carolina | $1,446 | $432 |
| North Dakota | $1,302 | $269 |
| Ohio | $1,266 | $338 |
| Oklahoma | $1,998 | $406 |
| Oregon | $1,415 | $616 |
| Pennsylvania | $2,040 | $428 |
| Rhode Island | $1,886 | $551 |
| South Carolina | $1,532 | $524 |
| South Dakota | $1,553 | $276 |
| Tennessee | $1,429 | $371 |
| Texas | $2,019 | $565 |
| Utah | $1,510 | $539 |
| Vermont | $1,061 | $238 |
| Virginia | $1,439 | $494 |
| Washington | $1,410 | $515 |
| Washington D.C. | $2,072 | $607 |
| West Virginia | $1,580 | $421 |
| Wisconsin | $1,292 | $358 |
| Wyoming | $1,582 | $263 |
What are the cheapest states for car insurance?
Drivers in Maine, Vermont, Idaho, New Hampshire and Massachusetts pay the cheapest annual full coverage car insurance rates in the nation, on average. Factors like cheaper cost of living, lower probability of accidents and claims, and less traffic congestion could contribute to these states' lower average premiums.
- Maine: $941 per year — 53 percent below national average
- Vermont: $1,061 per year — 47 percent below national average
- Idaho: $1,133 per year — 44 percent below national average
- New Hampshire: $1,162 per year — 42 percent below national average
- Massachusetts: $1,262 per year — 37 percent below national average
What are the most expensive states for car insurance?
Based on our research, drivers in Florida, New York, Louisiana, Nevada and Michigan have the highest average annual cost of full coverage car insurance. This could be due in part to frequent claims for common losses in these states, making drivers riskier to insure overall.
- Florida: $3,183 per year — 58 percent above national average
- New York: $3,139 per year — 56 percent above national average
- Louisiana: $2,909 per year — 44 percent above national average
- Nevada: $2,779 per year — 38 percent above national average
- Michigan: $2,691 per year — 34 percent above national average
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How much does car insurance cost by company?
On average, car insurance from some of the top insurance carriers in the nation can range from around $1,300 to $2,600 per year for full coverage, the cheapest being from Geico and Erie. But because each auto insurance company has its own proprietary underwriting system, the cost of car insurance for each individual will vary from carrier to carrier. For drivers looking for the best car insurance company, keep in mind that the coverage you choose plays a role, too. The average cost of full coverage car insurance is about 224 percent more than minimum coverage.
The table below showcases the average annual and monthly full coverage premiums for some of the largest car insurance companies in the nation by market share.
| Insurance company | Annual full coverage premium | Monthly full coverage premium |
|---|---|---|
|
Annual full coverage premium
$2,630
|
Monthly full coverage premium
$219
|
|
|
Annual full coverage premium
$1,700
|
Monthly full coverage premium
$142
|
|
|
Annual full coverage premium
$1,467
|
Monthly full coverage premium
$122
|
|
|
Annual full coverage premium
$1,361
|
Monthly full coverage premium
$113
|
|
|
Annual full coverage premium
$1,356
|
Monthly full coverage premium
$113
|
|
|
Annual full coverage premium
$1,598
|
Monthly full coverage premium
$133
|
|
|
Annual full coverage premium
$1,353
|
Monthly full coverage premium
$113
|
|
|
Annual full coverage premium
$1,547
|
Monthly full coverage premium
$129
|
|
|
Annual full coverage premium
$1,422
|
Monthly full coverage premium
$119
|
|
|
Annual full coverage premium
$1,642
|
Monthly full coverage premium
$137
|
|
|
Annual full coverage premium
$1,480
|
Monthly full coverage premium
$123
|
|
|
Annual full coverage premium
$2,104
|
Monthly full coverage premium
$175
|
|
|
Annual full coverage premium
$1,551
|
Monthly full coverage premium
$129
|
|
|
Annual full coverage premium
$1,361
|
Monthly full coverage premium
$113
|
Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in states where it is licensed. Coverage.com may not offer insurance coverage in all states or scenarios. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way.
| Insurance company | Annual min coverage premium | Monthly min coverage premium |
|---|---|---|
|
Annual min coverage premium
$545
|
Monthly min coverage premium
$45
|
|
|
Annual min coverage premium
$606
|
Monthly min coverage premium
$51
|
|
|
Annual min coverage premium
$429
|
Monthly min coverage premium
$36
|
|
|
Annual min coverage premium
$325
|
Monthly min coverage premium
$27
|
|
|
Annual min coverage premium
$486
|
Monthly min coverage premium
$41
|
|
|
Annual min coverage premium
$534
|
Monthly min coverage premium
$45
|
|
|
Annual min coverage premium
$373
|
Monthly min coverage premium
$31
|
|
|
Annual min coverage premium
$541
|
Monthly min coverage premium
$45
|
|
|
Annual min coverage premium
$567
|
Monthly min coverage premium
$47
|
|
|
Annual min coverage premium
$553
|
Monthly min coverage premium
$46
|
|
|
Annual min coverage premium
$464
|
Monthly min coverage premium
$39
|
|
|
Annual min coverage premium
$595
|
Monthly min coverage premium
$50
|
|
|
Annual min coverage premium
$495
|
Monthly min coverage premium
$41
|
|
|
Annual min coverage premium
$371
|
Monthly min coverage premium
$31
|
Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in states where it is licensed. Coverage.com may not offer insurance coverage in all states or scenarios. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way.
How much does car insurance cost by age?
Car insurance companies use many different rating factors to determine your premium, and in most states, your age may significantly impact how much you pay for coverage. Statistically speaking, younger drivers and the elderly are most likely to be involved in an accident, so these groups usually pay the most for car insurance.
The table below demonstrates the average cost of car insurance for various age groups. It’s important to note that your age will not affect your premium if you live in Hawaii, as state regulations prohibit auto insurers from using age as a rating factor. Massachusetts also prohibits the use of age as a rating factor but does allow the years of driving experience a person has. Since this often correlates with age — younger drivers have less experience — rates still vary between age groups in Massachusetts.
|
Age
|
Annual full coverage premium
|
Annual min coverage premium
|
|---|---|---|
| 20-year-old | $4,319 | $1,322 |
| 25-year-old | $2,473 | $747 |
| 30-year-old | $2,125 | $647 |
| 40-year-old | $2,014 | $622 |
| 50-year-old | $1,881 | $589 |
| 60-year-old | $1,824 | $578 |
| 70-year-old | $1,986 | $652 |
Car insurance costs for young drivers
|
Age
|
Annual full coverage premium
|
Annual min coverage premium
|
|---|---|---|
| 16-year-old | $4,392 | $1,470 |
| 17-year-old | $4,102 | $1,362 |
| 18-year-old | $6,110 | $1,967 |
| 19-year-old | $4,720 | $1,472 |
| 20-year-old | $4,319 | $1,322 |
| 21-year-old | $3,420 | $1,042 |
| 22-year-old | $3,163 | $955 |
| 23-year-old | $2,929 | $921 |
| 24-year-old | $2,837 | $850 |
How does gender impact the cost of car insurance?
Gender also impacts your premium in most states. Men typically cost more to insure than women. This is because men generally engage in riskier driving behaviors than women and have a higher rate of accident severity, according to the Insurance Information Institute (Triple-I). However, not all states allow gender to be a factor in rates. If you live in California, Hawaii, Massachusetts, Michigan, North Carolina or Pennsylvania, your gender does not affect how much you pay for car insurance because of state regulations prohibiting this rating factor.
The table below shows the difference in premiums that men and women may expect to pay across different ages. Notice how the price difference between genders narrows as people get older, but starts to increase again once drivers hit their senior years. You may also be surprised to learn that 50-year-old women tend to pay slightly higher premiums than their male counterparts.
|
Age
|
Male
|
Female
|
Difference
|
Percent difference between rates
|
|---|---|---|---|---|
| 20-year-old | $4,638 | $3,999 | $639 | 14.8% |
| 25-year-old | $2,552 | $2,393 | $159 | 6.4% |
| 30-year-old | $2,142 | $2,108 | $34 | 1.6% |
| 40-year-old | $2,020 | $2,008 | $12 | 0.6% |
| 50-year-old | $1,885 | $1,877 | $2 | 0.1% |
| 60-year-old | $1,832 | $1,816 | $15 | 0.9% |
| 70-year-old | $2,001 | $1,972 | $29 | 1.5% |
- Male crash fatalities decreased by 14 percent from 1975 to 2020, according to a 2020 study published by the Insurance Institute of Highway Safety (IIHS).
- The disparity between male and female traffic fatalities drops significantly with newer vehicles, as shown in the 2022 National Highway Traffic Safety Administration (NHTSA) report on gender crash fatality risk.
- Males make up 6.3 percent more traffic fatalities than females in cars manufactured between 2010 to 2020. That difference narrows to 2.9 percent in vehicles made from 2015 to 2020.
How does driving record impact the cost of car insurance?
- Speeding ticket: Earning a speeding ticket conviction may be one of the most common driving infractions and, on average, it increases full coverage premiums by 21 percent. Every car insurance carrier will have its own algorithm for determining rates after a speeding ticket. For example, even after a speeding ticket conviction, Erie and Auto-Owner’s average car insurance rates are both more than $400 below the national average cost of car insurance.
- At-fault accident: An at-fault accident on your record could raise your monthly full coverage car insurance payment from $168 to $238, and increase your annual premium by 42 percent. If this is your first accident and you’ve previously added optional coverage like accident forgiveness to your policy, you may be able to avoid the surcharge.
- DUI conviction: Being convicted of a DUI could raise your monthly full coverage premium to over $300, and stay on your driving record for 10 years or more. The amount surcharged will also vary in each state. For example, the average cost of car insurance after a DUI for a full coverage policy is $3,797 per year in Kentucky, but around $5,604 per year in Louisiana.
| Driving record | Avg. monthly cost* | Avg. annual cost* | Increase above national avg. |
|---|---|---|---|
| Clean driving record | $168 | $2,014 | $0 |
| Speeding ticket | $202 | $2,427 | + $413 |
| At-fault accident | $238 | $2,854 | + $840 |
| DUI conviction | $325 | $3,901 | + $1,887 |
*rates are for full coverage
How much does car insurance cost by credit score?
| Avg. monthly cost* | Avg. annual cost* | |
|---|---|---|
| Poor credit score | $290 | $3,479 |
| Average credit score | $181 | $2,176 |
| Good credit score | $168 | $2,014 |
| Excellent credit score | $147 | $1,764 |
*rates are for full coverage
How much does car insurance cost by vehicle type?
The type of vehicle you drive has a significant impact on your car insurance premium. The price and availability of parts, cost of labor, statistical likelihood of accidents and the vehicle’s safety and crash prevention features could all influence how much you pay for coverage. The vehicle makes and models in the table below are well-suited for a variety of lifestyles and budgets.
- High-end vehicles, like luxury or sports cars: The high price tag of these vehicles are often coupled with expensive parts, leading to more costly repairs in the event of a claim, as well as higher speed maximums compared to standard vehicles, increasing the risk of at-fault accidents.
- SUVs, vans and other large vehicles: Larger vehicles may weigh more and carry more passengers, which could cause more damage in accidents compared to smaller vehicles.
- Common, more affordable vehicles: Though economy cars may be easier on a budget, they may also be more susceptible to vandalism and theft due to having less security measures, raising the likelihood of comprehensive claims.
- Hybrid and electric vehicles: Hybrid and electric vehicles may help you save on fuel costs, but they might be more expensive to insure. Like luxury and sports cars, parts and labor for hybrid and electric cars can be pricey, leading insurers to typically charge more for comprehensive and collision coverage.
- Vehicles with high safety ratings: Vehicles with high safety ratings tend to have lower base rates because you may be less likely to be injured in an accident (or get into an accident in general). As a bonus, vehicles with features like anti-lock brakes and passive restraint systems might earn extra discounts, depending on your carrier.
| Vehicle type | Avg. monthly full coverage cost | Avg. annual full coverage cost |
|---|---|---|
| BMW 330i | $209 | $2,513 |
| Ford F-150 | $143 | $1,753 |
| Honda Odyssey | $145 | $1,735 |
| Toyota Prius | $176 | $2,117 |
| Tesla Model 3 | $215 | $2,577 |
| Audi Q5 | $188 | $1.869 |
| Toyota RAV4 | $156 | $1,603 |
| Subaru Outback | $134 | $1,820 |
| Jeep Wrangler | $152 | $2,743 |
| Ford Mustang | $207 | $2,488 |
How are car insurance rates changing?
Compare trends in full or minimum coverage rates by carriers
Rates are based on a 40-year-old driver with a 2021 Toyota Camry, 12,000 miles annually, clean driving record and good credit.
Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in states where it is licensed. Coverage.com may not offer insurance coverage in all states or scenarios. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way.
Rates are based on a 40-year-old driver with a 2021 Toyota Camry, 12,000 miles annually, clean driving record and good credit.
Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in states where it is licensed. Coverage.com may not offer insurance coverage in all states or scenarios. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way.
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What factors affect my car insurance price?
In addition to your state requirements, vehicle type, age (except in Hawaii and Massachusetts), driving record and gender (in most states), several other common rating factors will impact your auto insurance premium. By looking at these rating factors, car insurance companies can get a sense of your risk profile and what it might cost to insure you.
- Coverage selections: Your car insurance coverage options have a significant effect on your rate. If you select higher liability limits, choose lower deductible levels or add optional coverage types like comprehensive and collision coverage, your rates will likely be higher.
- Insurance history: If you’ve had continuous car insurance for the length of time you’ve been a licensed driver, you may pay lower rates. Lapses in your coverage (unless you did not own a car during that time) can be an indication of high-risk behavior and may increase your premium.
- Annual mileage: The more you drive, the more likely you are to get into an accident. Policyholders who drive fewer miles a year often qualify for lower rates (typically less than 7,500 miles per year, but it could vary by carrier).
How to find the best car insurance prices
Buying car insurance doesn’t have to mean breaking the bank; there are ways to save. Discounts are one of the best ways to lower your premium. Most major car insurance carriers offer discounts. Here are some of the most common insurance discounts in the U.S.
Not every auto insurer offers homeowners insurance (or the same discounts). Speaking with your insurance agent or company representative may be the best way to learn about savings opportunities.
Additionally, getting quotes from several car insurance companies can help you compare rates. Each company sets its own rates, so the same level of coverage can cost vastly different amounts with different providers. Comparing quotes might help you find the lowest price for the coverage you need.
Learn more: The benefits of bundling your home and auto insurance
Frequently asked questions about car insurance costs
Methodology
- $100,000 bodily injury liability per person
- $300,000 bodily injury liability per accident
- $50,000 property damage liability per accident
- $100,000 uninsured motorist bodily injury per person
- $300,000 uninsured motorist bodily injury per accident
- $500 collision deductible
- $500 comprehensive deductible