We all already know, the average cost of car insurance across the United States is approximately $1,520 per year, or about $126 per month and may vary by state and variety of factors (www.thebalance.com), including your age, gender, your location, your credit score or driving history. Why auto insurance rates are likely to increase in 2018 and what are the tricks to lower your auto insurance policy in this year?
Why is car insurance in many U.S states so expensive?
There are many reasons why are automobile insurance rates rising in the past few years and again in 2018. Drivers are involved in more car collisions, thus more claims. You should learn how to compare car insurance quotes in your State and find better coverage with the lowest rates, with respect to your family budget! The below table represent the average cost of car insurance from the largest car insurance companies in the United States. These statistics include data from those insurers: Progressive, Nationwide, USAA, GEICO, Farmers Insurance Group, Liberty Mutual, Allstate and State Farm.
How does the insurance company set the price of your policy?
What really goes into determining your insurance rates in 2018? According to many studies (CBSnews - how men can beat gender bias in car insurance) men in the United States usually pay on average $13,000 - $17,000 more for car insurance in their lifetime compared to women. US Insurance companies use many rules to determine auto insurance rates and the final price of your coverage. Some of these rules are easily understandable (your age, marital status, credit score rating, driver's history, your location), while others are very questionable and sometimes deliberately hidden.
Which insurance company has the most fitting car insurance discounts for you, your family and your car? :) Bankrate.com put together a list of 17 discounts that car companies offer, such as a discount for having an anti-theft device for your car or being a member of the U.S. military.
- Dave Jones, Commissioner
- (Chair, Western Zone)
- California Department of Insurance
- 300 Capitol Mall, Suite 1700
- Sacramento, California 95814
- Phone: 916.492.3500
- Fax: 916.445.5280
- 45 Fremont Street, 23rd Floor
- San Francisco, California 94105
- Phone: 415.538.4010
- Fax: 415.904.5889
- 300 South Spring Street
- South Tower
- Los Angeles, California 90013
- Phone: 213.346.6464
- Fax: 213.897.9051
Department of InsuranceTo request professional legal assistance with an insurance question or file an insurance-related complaint online, please visit website of licensed in your State.
Ask for better quotes - onlineThe states with the cheapest car insurance has average rates for this vehicle around $132 dollars, and the states with the most expensive rates are around $968 a month/year. The right discount can save you hundreds of dollars off your car insurance bill. Auto insurance companies in California, Michigan, Florida, New York, Louisiana use rating factors, to determine how much to charge you for coverage. These rating factors include: the make, model and year of your Ford, Toyota, Chrysler and similar vehicles.
Myths about car insuranceHow much do you pay to insure your Ford, Toyota, Chrysler? Car insurance rates among states vary widely and insurance companies need to figure out if the applicant is too risky for them to insure. Auto insurance is very expensive, probably one of the most costly part of driving. How much do you pay for your policy in California, Michigan, Florida, New York, Louisiana? 440$? More or less?
Minimum insurance requirements
The minimum amount of liability insurance you must have on your policy is:
- $15,000 for injury/death to one person.
- $30,000 for injury/death to more than one person.
- $5,000 for damage to property.