How much does car insurance cost?

Car insurance is required to drive legally in nearly all states, so it’s helpful to know what you can expect to pay for coverage. Forbes Advisor found the average cost of car insurance is $2,150 for full coverage and $467 for state minimum coverage.

How much does full coverage car insurance cost?

The average cost for full coverage car insurance is $2,150 per year. State minimum insurance is 79% cheaper at $467 per year but doesn’t include comprehensive and collision, which pays for damages to your car. USAA, Auto-Owners and Geico are the cheapest car insurance companies for full coverage.

How much does car insurance cost in Michigan?

The average cost of car insurance by state ranges from $154 per month in Michigan to $29 per month in South Dakota for minimum coverage. Erie is the cheapest car insurance company, with an average rate of $41 per month for minimum coverage. Teen drivers have the highest rates, with 18-year-olds paying more than twice as much as 25-year-olds.

How much does car insurance cost after a car accident?

Our study determined that the average annual cost of car insurance increases to $2,212 after one accident. It’s likely that your rates will increase regardless of your insurer, but the cost of car insurance after an accident varies widely by company.