Average Auto Insurance Cost Per Month: \$1,131

Determining the Cost of Auto Insurance

The cost of auto insurance varies depending on a number of factors, including the type of coverage you need, your driving history, your age, and your location. However, the national average cost of auto insurance is \$1,131 per month, according to the National Association of Insurance Commissioners (NAIC).

Factors That Affect the Cost of Auto Insurance

The following factors can affect the cost of your auto insurance:

• Type of coverage: The type of coverage you need will affect the cost of your insurance. Liability coverage is the minimum required coverage in most states, but you may also want to consider collision and comprehensive coverage.
• Driving history: Your driving history is a major factor in determining the cost of your auto insurance. If you have a clean driving record, you will likely pay less for insurance than someone with a history of accidents or traffic violations.
• Age: Younger drivers typically pay more for auto insurance than older drivers. This is because younger drivers are statistically more likely to be involved in accidents.
• Location: The cost of auto insurance also varies by location. Drivers in urban areas typically pay more for insurance than drivers in rural areas. This is because urban areas have more traffic congestion and a higher risk of accidents.

How to Save Money on Auto Insurance

There are a number of things you can do to save money on auto insurance, including:

• Shop around for the best rates: Get quotes from several different insurance companies before you buy a policy.
• Raise your deductible: The higher your deductible, the lower your monthly premium will be. However, you should only raise your deductible if you can afford to pay it in the event of an accident.
• Take advantage of discounts: Many insurance companies offer discounts for things like being a good student, driving a safe car, and having a clean driving record.
• Bundle your policies: If you have multiple insurance policies, such as auto insurance and homeowners insurance, you may be able to get a discount by bundling them with the same company.

Tips for Finding the Right Auto Insurance Policy

When you're shopping for auto insurance, it's important to compare quotes from several different companies. You should also consider the following factors:

• The type of coverage you need: Make sure you have the right type of coverage for your needs. Liability coverage is the minimum required coverage in most states, but you may also want to consider collision and comprehensive coverage.
• The amount of coverage you need: The amount of coverage you need will depend on the value of your car and your financial situation.
• The deductible you can afford: The deductible is the amount you will have to pay out of pocket in the event of an accident. You should only raise your deductible if you can afford to pay it.
• The reputation of the insurance company: Make sure you choose an insurance company that has a good reputation for customer service and financial stability.

Conclusion

The cost of auto insurance can vary depending on a number of factors. However, the national average cost of auto insurance is \$1,131 per month. By shopping around for the best rates and taking advantage of discounts, you can save money on auto insurance.