Finding Average Car Insurance Cost Per Month
Average car insurance cost per month statistics have proven that the average cost of auto insurance is about $ 146 per month (on a standard rate of $1,827 per year). Your monthly auto insurance premium will also depend heavily on several factors, such as your location, city, demographic, driving record, age and insurance provider. Here are some tips to help you save money on your monthly auto insurance premium:
Do you live in a part of the nation with high crime rates? If so, then you need to think about moving to a part of the country with lower crime rates. Most auto insurers will be able to find you a policy that will give you a good price on your monthly auto insurance quotes, as long as you live in a part of the country with a lower crime rate. Check with your local law enforcement agencies or visit websites of local auto insurers to learn more about crime rates in your area. Then, compare the national average car insurance cost per month. You can get these figures online about non owner car insurance.
If you drive an older vehicle that is not worth as much as it used to be, you may want to consider raising the deductible. For instance, if your car is worth five hundred dollars and it only receives eighteen thousand miles per year, then you should raise your deductible to one hundred and fifty dollars and reduce the amount of coverage to four hundred and fifty thousand miles. This will bring your monthly insurance premium down by about a quarter of a point. Before you change your vehicle, however, you must check with your current insurer to make sure that your new deductible will be accepted.
The third factor that you can use to determine whether or not you are a good candidate for discount auto insurance is your age. As you get older, your chances of having accidents increase. The National Highway Traffic Safety Administration reports that drivers between the ages of sixteen and twenty-five experience a nearly four percent increase in their chance of having a car accident, compared to those between the ages of twenty-four and thirty-five. The cost of insuring a twenty four-year-old driver with a standard full coverage policy will be more than twice as much as it would cost insuring a twenty five-year-old driver with a standard policy. Raising your deductible, even by just a few dollars, will help you keep your premiums from becoming unaffordable.
You should also think about your driving record and the amount of traffic violations that you have accumulated during the past three years. If you have a history of reckless driving, speeding tickets, or other traffic infractions, your insurance policy will be significantly more expensive than a driver who has never had an infraction. In order to keep your monthly premium affordable, make sure that you take a driver's safety course and that you don't have a prior traffic violation on your record. In addition, many companies offer a discount for students who already hold a full license and who are aware of all of the rules of the road.
The most effective way to get affordable insurance rates is to get multiple quote offers from different companies. By getting quotes from a number of different companies, you will be able to see which companies offer the lowest prices. After you have found the lowest priced policy, you should compare the level of coverage that each policy covers. The majority of drivers do not need the full collision and medical coverage provided by a standard policy; therefore, they should choose a policy that only requires them to get a physical exam, pay a deductible, and pay a minimal premium on their insurance. By choosing these policies, you will be saving a large amount of money on the average car insurance cost per month.