What is the average auto insurance monthly cost?

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Things to Remember...
  • Many factors affect the costs of auto insurance
  • The state that you live in can significantly affect the cost of your monthly premiums
  • Other factors such as your car’s safety rating may affect the cost of your premiums

Most drivers want to manage essential recurring costs, such as auto insurance costs, to save money. Registering and driving an automobile requires the owner to present proof of financial responsibility.

Auto insurance protects the driver and the automobile they own. Auto insurance, as a kind of property and casualty insurance, also protects other drivers on the road.

Many factors affect the costs of auto insurance. According the AAA, as of 2015, the average cost of insuring a car was around $1,115.

Other resources, such as the National Association of Insurance Commissioners, place the average annual cost of auto insurance closer to $1,400 (about $117 a month).

NAIC also found many drivers have saved money on auto insurance in recent years because of competition between insurers.

One simple way to compare multiple rates is by using our FREE online tool above. Get started by entering your ZIP code!

How does auto insurance costs vary by state?

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Insurance costs can vary by state due to several factors. Here are some statistics of some commonly known states:

  • Drivers in Vermont pay an average of $1,250 a year (about $104 a month) for auto insurance, according to Vermont’s Department of Banking, Insurance, Securities, and Healthcare
  • Drivers in New Hampshire pay approximately $1,000 a year ($83 a month) for auto insurance, according to New Hampshire’s Insurance Department
  • Drivers in Minnesota pay about $1,200 a year (about $100 a month) for auto insurance, according to Minnesota’s Department of Commerce
  • Comparatively, drivers in New York, the District of Columbia, Louisiana, Mississippi, and Oklahoma pay the highest average premium rates for auto insurance
  • New York drivers pay an average $2,700 per year ($225 per month) for auto insurance premiums, reports New York’s Department of Financial Services

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What are ways to save money on average monthly insurance costs?

Some great ways to save big bucks on auto insurance include:

  • Participating in safe driver programs can net impressive savings to good drivers (15 percent  or more, according to AAA)
  • Buy at least six months of auto insurance coverage at once, rather than paying your auto insurance premium each month. Auto insurance companies may offer a discount for prepayments
  • Combine at least two insurance policies for discounted auto insurance rates
  • Consider your vehicle’s safety record. Your car’s safety rating may affect how much your monthly payments come out to be

Now that you’ve got more information about how to compare the auto insurance average for monthly costs, save money by requesting free auto insurance quotes.

Use our FREE online tool below to compare quotes now!

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