How Much Does Car Insurance Cost on Average in 2024?

How much is auto insurance? It’s a difficult topic to answer considering all of the factors that influence a driver’s rates. Wondering how much vehicle insurance costs might make it difficult to escape the notion that you’re overpaying for coverage. Knowing the typical vehicle insurance cost for various sorts of drivers will help you answer this burning issue.

How much is auto insurance?

According to NerdWallet’s 2024 rate research, the average cost of full coverage vehicle insurance is $1,982 per year, or $165 per month, while minimal coverage is $549 per year, or $46 per month. Your vehicle insurance premium will vary depending on various variables, including your age, driving history, region, coverage chosen, and car make and model.

Average vehicle insurance costs for various driver characteristics.
Here’s an overview of national average vehicle insurance prices depending on credit history, driving record, and insurance coverage:

Driving and credit historyAverage annual cost of full coverageAverage annual cost of minimum coverage
Good driver with good credit$1,982$549
Driver with one speeding ticket and good credit$2,486$693
Driver with an at-fault accident and good credit$2,936$817
Good driver with poor credit$3,222$866
Driver with a recent DUI and good credit$3,693$1,045

As you can see, comprehensive coverage automobile insurance costs far more than minimal coverage. This is because, whereas minimum coverage plans only provide liability insurance and other state-mandated coverage, full coverage includes collision and comprehensive insurance, which covers damage to your own car.

However, averages can only tell you so much about your individual vehicle insurance rates. Several personal characteristics, both inside and beyond your control, eventually influence how much you pay.

NerdWallet cannot predict which criteria will apply to you, thus we utilized a particular driver profile throughout this article (unless specified otherwise):

  • 35 years old.
  • Good driver. A person with a clean driving record is one who has had no accidents, DUIs, or other traffic offenses.
  • Good credit. Drivers with high credit ratings. In most jurisdictions, insurers determine rates using a credit-based insurance score, which is comparable to a standard credit score.

How much is auto insurance in my state?

Because every state has its own set of restrictions, where you reside might have a significant influence on your vehicle insurance premiums. Use our interactive state map to determine the average yearly rate for your state below.

The following states provide the lowest full-coverage vehicle insurance:

  • Wyoming costs $1,069 per year, or around $89 per month on average.
  • Vermont costs $1,251 per year, or around $104 per month on average.
  • Massachusetts: $1,348 per year, or around $112 per month on average.
  • Idaho costs $1,361 per year, or around $113 per month on average.
  • Ohio: $1,380 per year, or around $115 per month on average.

Here are the states with the most costly full coverage vehicle insurance:

  • Florida: $3,797 per year, or around $316 per month on average.
  • Louisiana: $3,608 per year, or $301 per month on average.
  • Rhode Island: $3,341 per year, or around $278 per month on average.
  • Texas: $2,966 per year, or around $247 per month on average.
  • Kentucky: $2,965 per year, or around $247 per month on average.

How much does auto insurance cost per company?

Every auto insurance company bases its prices on a variety of criteria, including your driving history, location, vehicle, and demographics. They are making an informed judgment about how likely you are to submit a claim and adjusting your pricing appropriately.

Each insurer evaluates each element differently. If you have bad credit, one insurer may charge you 10% extra for the coverage, whilst another may charge 40% more. A discount for being claim-free in recent years may gain you a 20% discount with one provider and 5% with another.

As a consequence, costs vary from person to person. This is why the business that offers your buddy an extremely low premium may not be the lowest for you.

Here are the yearly average prices for full and minimum coverage from several of the country’s top vehicle insurance companies.

Average yearly auto insurance prices from major corporations.

CompanyFull coverageMinimum coverage
Allstate$2,665$656
American Family$1,791$687
Farmers$3,106$938
Geico$1,846$491
Nationwide$2,279$785
Progressive$2,112$590
State Farm$1,976$471
Travelers$1,681$520
USAA*$1,432$362

How much does vehicle insurance cost depending on your driving record?

A recent ding on your driving record might raise your car insurance premiums because insurers consider you a riskier driver than someone with a clean record. Traffic offenses and automobile accidents may remain on your record for three to five years.

Here are the typical vehicle insurance rates for drivers with an at-fault collision, a DUI, or a speeding citation on their record.

How much does vehicle insurance cost after an at-fault accident?
Following an accident, the typical vehicle insurance cost for an at-fault motorist is:

  • Full coverage costs $2,936 per year.
  • The basic level of coverage is $817 per year.

According to NerdWallet’s data, the average cost of full coverage vehicle insurance is 48% more for a motorist who has caused a collision than for one who has not.

Average yearly cost of auto insurance before and after an at-fault accident.

Type of policyClean recordAfter one at-fault accident
Full coverage$1,982$2,936
Minimum coverage$549$817

The amount your rates will raise is also determined by the severity of the damage and if you have accident forgiveness on your policy or any “good driver” discounts that you may lose. The hypothetical collision in our research was rather mild, causing $10,000 in property damage but no injuries. Accidents involving medical expenses may be costly, leading in greater premium hikes.

It’s critical to search around for the lowest insurance after an accident since each company weighs things such as a wreck differently when determining costs.

Average vehicle insurance rates after a speeding ticket

Speeding not only leads to more traffic fatalities on the road, but it may also result in increased vehicle insurance rates for individuals who are penalized. NerdWallet found that a motorist with a recent speeding citation pays 25% more for comprehensive coverage than a driver with a clean record.

And it may take some time to put the past behind you—speeding fines may linger on your record for three to five years, depending on the state you reside in.

How much does a speeding citation increase the average yearly vehicle insurance costs?

Type of policyClean recordRecent speeding ticket
Full coverage$1,982$2,486
Minimum coverage$549$693

Average vehicle insurance rates after a DUI

Getting caught drinking and driving can result in drastically higher vehicle insurance premiums. According to NerdWallet’s data, a motorist with a recent DUI sees an average increase in vehicle insurance premiums for full coverage of 86%. This corresponds to a national average cost of $1,712 per year for full coverage vehicle insurance after a DUI.

How much does a DUI boost the average yearly vehicle insurance costs?

Type of policyClean recordRecent DUI
Full coverage$1,982$3,693
Minimum coverage$549$1,045

Shopping around for the lowest vehicle insurance or switching to your state’s minimal auto insurance coverage might help you save money after a DUI.

How much does vehicle insurance cost for those with excellent or bad credit?

Poor credit has a significant influence on vehicle insurance prices in most jurisdictions. On average, drivers with weak credit pay 63% more for complete coverage than persons with strong credit.

The average vehicle insurance prices for a motorist with low credit are:

  • A full year of coverage costs $3,222.
  • The basic level of coverage is $866 per year.

Average yearly auto insurance expenses for drivers with excellent or low credit

Type of policyGood creditPoor credit
Full coverage$1,982$3,222
Minimum coverage$549$866

In most jurisdictions, insurers establish rates using a credit-based insurance score, which is comparable to a standard credit score. The insurance score considers the same elements as a standard credit score, such as on-time payments and delinquencies, but evaluates them differently.

California, Hawaii, and Massachusetts prohibit insurers from using credit to determine vehicle insurance prices.
Insurance firms use statistics relating bad credit to more frequent insurance claims to justify higher premiums. The influence of the score on your rate is determined by your location and the vehicle insurance provider you pick.

How much does vehicle insurance cost dependent on age?

Drivers of varying ages pay varied average yearly vehicle insurance prices. Here’s how they compared:

Age of driverFull CoverageMinimum Coverage
20$4,110$1,174
30$2,039$563
35$1,982$549
40$1,928$538
50$1,794$510
60$1,713$500
70$1,852$564

How much does vehicle insurance cost for teenage drivers?

Less experienced drivers are seen as a greater risk by insurers, who normally demand higher premiums. Young drivers may be defined by insurers as anybody aged 16 to 25, or sometimes as anyone under the age of 30. Our investigation focused on rates for 20-year-old drivers. Rates typically fall as you become older, until you reach your 70s.

The average yearly auto insurance expense for a 20-year-old motorist

For a 20-year-old motorist with excellent credit and a clean driving record, the typical vehicle insurance premiums are

  • $4,110 for complete coverage.
  • $1,174 for the minimum necessary coverage.

However, young drivers with weak credit or a less-than-perfect driving record are likely to pay extra for vehicle insurance.

Driver profileFull coverageMinimum coverage
Clean driving record, good credit$4,110$1,174
One speeding ticket, good credit$4,952$1,410
One at-fault crash, good credit$5,512$1,595
One DUI, good credit$6,746$1,967
Clean driving record, poor credit$6,597$1,814

A significant portion of young Americans, aged 20 to 24, lack a credit history or have insufficient credit to generate a score, as reported by the Consumer Financial Protection Bureau. Similar to a typical credit score, having a limited credit history can have a negative impact on your credit-based insurance score, potentially leading to higher car insurance rates.

Annual car insurance costs for young drivers by company
Understanding average costs provides a helpful starting point for a young driver seeking affordable car insurance. Rate fluctuations can be significant, with variations of hundreds of dollars annually, contingent upon your location and the insurance provider you opt for. These are the average rates for the largest auto insurance companies for 20-year-old drivers.

CompanyFull coverageMinimum coverage
Allstate$6,358$1,283
American Family$3,732$1,421
Farmers$6,950$2,109
Geico$3,375$951
Nationwide$5,252$1,851
Progressive$3,922$1,076
State Farm$4,452$1,202
Travelers$3,959$1,086
USAA*$2,971$737

What factors determine the cost of auto insurance?

Car insurance costs tend to vary more based on factors such as the insurance company, state, credit score, and driving history, rather than gender. That doesn’t imply that a gender-based cost difference would be insignificant, though. Car insurance pricing based on gender is prohibited by law in seven states: California, Hawaii, Massachusetts, Michigan, Montana, North Carolina, and Pennsylvania.

Typically, there is a significant difference in pricing based on gender for younger adults compared to older drivers. There is a disparity in the amount men pay compared to women across all age groups we analyzed for full coverage insurance.

As an illustration, in states where gender-based pricing is permitted, we calculated the average rates for full coverage insurance separately for men and women. Our findings were as follows:

  • At age 20, there is a noticeable difference in the amount that men and women pay per year, with men paying approximately $696 more.
  • At age 30, men typically pay approximately $34 more per year compared to women.
  • At age 35, men pay approximately $27 more per year compared to women.

What factors determine the cost of auto insurance based on the type of vehicle?

For our analyses, we utilized a 3-year-old Toyota Camry, which has been widely recognized as one of the most popular sedans in America based on recent sales figures. This allowed us to effectively demonstrate the fluctuations in rates based on personal history and demographics. However, the make and model of your vehicle will definitely impact the rates.

Some cars are subject to higher insurance premiums due to various factors:

  • Sports cars are known for their higher top speeds. People often drive them at higher speeds, which raises the chances of accidents or receiving a traffic ticket. If you receive a speeding ticket, insurers may perceive a higher likelihood of you being involved in an accident, resulting in further increases in rates.
  • High-end vehicles often come with pricier components and intricate features that can be more expensive to repair in the event of an accident.
  • EVs, which also come with higher costs for engine part replacements. The batteries for electric vehicles can be quite expensive, often costing thousands of dollars each.
  • Popular car models are frequently targeted by thieves. These vehicles typically come with higher rates for comprehensive insurance, which covers incidents like theft, non-traffic-related damage, and acts of nature such as floods, fire, and vandalism. It is usually not required unless you have a loan or lease.

We analyzed average car insurance costs for the most popular vehicles based on sales in a separate analysis from 2022 to understand the variations in costs based on your vehicle. As indicated below, the Camry is not the most affordable model. The Subaru Outback takes the lead in terms of car insurance cost, averaging at $1,512 per year.

RankMedian annual insurance premiumMSRPInsurance as % of MSRP
1. Subaru Outback$1,512$28,3955.3%
2. Subaru Crosstrek$1,516$23,6456.4%
3. Honda CR-V$1,517$28,4105.3%
4. Mazda CX-5$1,547$26,7005.8%
5. Hyundai Tucson$1,597$26,9005.9%
6. Ford Escape$1,609$28,0005.7%
7. Jeep Wrangler$1,617$31,1955.2%
8. Toyota Tacoma$1,647$28,2505.8%
9. Ford F-150$1,651$33,6954.9%
10. Toyota RAV4$1,652$28,2755.8%
11. Chevrolet Equinox$1,695$26,6006.4%
12. Toyota Highlander$1,716$39,0204.4%
13. GMC Sierra 1500$1,751$37,2004.7%
14. Nissan Rogue$1,751$27,7606.3%
15. Chevrolet Silverado 1500$1,762$36,3004.9%
16. Ford Explorer$1,780$38,5704.6%
17. Toyota Corolla$1,800$21,7008.3%
18. Toyota Camry$1,822$26,3206.9%
19. Honda Civic$1,832$23,7507.7%
20. Honda Accord$1,844$27,2956.8%
21. Jeep Grand Cherokee$1,883$40,0304.7%
22. Ram 1500$1,897$37,4105.1%
23. Nissan Altima$1,641$25,4907.9%
24. Tesla Model 3$2,296$40,2405.7%
25. Tesla Model Y$2,530$52,6304.8%

What other factors influence the cost of car insurance?

There are other factors to take into account when considering car insurance costs, including:

  • Please provide more specific location information, such as your ZIP code or city.
  • A common profession in various states.Your former insurance provider. If it was a nonstandard insurer specializing in high-risk drivers, you may experience higher insurance rates with certain companies.
  • Consistent insurance coverage. Companies often impose higher charges for drivers who have experienced lapses in coverage.
  • Annual mileage per car.
  • Your current relationship status. Certain insurers hold the belief that married individuals exhibit more responsible driving habits, resulting in lower insurance rates. Conversely, single individuals, including widows, widowers, and divorced individuals, may be subject to higher insurance premiums.
  • Whether you have ownership of your home (and whether you combine home insurance with auto).
  • What is your level of education?
  • Consider selecting additional coverage options, such as new-car replacement coverage and gap coverage.
  • Discounts that are available to you, and can vary greatly depending on the company.
  • Who you reside with. Certain companies have policies that do not permit the exclusion of individuals like roommates or non-driving adults from your insurance policy.

How can I find affordable car insurance?

Your premium is likely to vary, regardless of the averages you consider.

However, one can still discover affordable car insurance by diligently comparing rates on an annual basis and whenever significant life events occur, such as getting married, changing jobs, relocating, or purchasing a new vehicle. Furthermore, for individuals who have experienced a recent at-fault accident, DUI, or other traffic violation, it is advisable to consider shopping for insurance during the month following the third and fifth anniversaries of the incident.

If you’re ready to start shopping, you can explore the most affordable companies in your state for various driver profiles.

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