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Home > Blog > Average Car Insurance Costs in 2020
MONDAY, AUGUST 17, 2020

Average Car Insurance Costs in 2020

The national average cost of car insurance is $1,427 per year, according to NerdWallet’s 2020 rate analysis.

That works out to an average car insurance rate of about $119 per month for 40-year-old drivers with good credit and a clean driving record. But average costs vary widely for other types of drivers.

National average car insurance rates are:

  • $1,427 for a good driver with good credit.
  • $1,781 after a speeding ticket.
  • $2,146 after an at-fault wreck.
  • $2,506 for a good driver with poor credit.
  • $2,531 after a DUI.
  • $2,106 for a 50-year-old married couple with two cars.
  • $3,906 for a married couple plus a teen driver, with two cars.

These rates are for full coverage policies, which include liability, comprehensive, collision, uninsured/underinsured motorist protection and any additional state-mandated coverage.

 

For minimum required coverage, national average car insurance rates are:

  • $606 for a good driver with good credit.
  • $755 after a speeding ticket.
  • $910 after an at-fault wreck.
  • $1,078 for a good driver with poor credit.
  • $1,079 after a DUI.

That’s about $51 per month for a 40-year-old driver with good credit and a clean driving record, ranging up to $90 per month for a driver with a recent DUI for minimum coverage car insurance.

But averages don’t say much about your own car insurance rates. A number of personal factors, both within and outside of your control, inch rates up or down until your price is totally personalized.

 

How much does car insurance cost in my state?

Where you live can have an enormous impact on auto insurance rates, because each state has different regulations for auto insurance. Average prices in the most expensive states are three to four times higher than those in the cheapest ones.

How much insurance you have matters, too: Full coverage car insurance is more than double the price of minimum coverage, on average, according to our analysis. Here’s what our state-by-state analysis of 2020 car insurance rates shows for drivers with good credit and no recent accidents:

  • Maine is the cheapest state for full coverage car insurance with an annual average rate of $916, followed by Idaho and Virginia.
  • Louisiana is the most expensive state for full coverage auto insurance at $2,971 per year on average, followed by Florida and Michigan.
  • Iowa is the cheapest state for minimum required coverage, at an annual average car insurance rate of $309, followed by South Dakota and Vermont.
  • For minimum required coverage, Michigan is the most expensive state at $1,285 per year, on average, followed by Florida and Louisiana.

 

Average car insurance costs for full and minimum coverage by state

State Full coverage Minimum coverage Annual difference
National average $1,427 $606 $821
Alabama $1,401 $558 $843
Alaska $1,180 $456 $724
Arizona $1,409 $581 $828
Arkansas $1,427 $558 $869
California $1,627 $636 $991
Colorado $1,570 $636 $934
Connecticut $1,683 $854 $829
Delaware $1,559 $839 $720
District of Columbia $1,527 $755 $772
Florida $2,352 $1,188 $1,164
Georgia $1,594 $690 $904
Hawaii $1,176 $487 $689
Idaho $937 $362 $575
Illinois $1,163 $437 $726
Indiana $994 $409 $585
Iowa $997 $309 $688
Kansas $1,306 $434 $872
Kentucky $2,161 $983 $1,178
Louisiana $2,971 $1,150 $1,821
Maine $916 $367 $549
Maryland $1,595 $800 $795
Massachusetts $1,299 $550 $749
Michigan $2,331 $1,285 $1,046
Minnesota $1,280 $579 $701
Mississippi $1,385 $513 $872
Missouri $1,339 $505 $834
Montana $1,252 $395 $857
Nebraska $1,181 $420 $761
Nevada $1,881 $902 $979
New Hampshire $1,056 $415 $641
New Jersey $1,759 $994 $765
New Mexico $1,241 $484 $757
New York $1,962 $1,026 $936
North Carolina $1,075 $411 $664
North Dakota $1,235 $400 $835
Ohio $1,051 $463 $588
Oklahoma $1,595 $583 $1,012
Oregon $1,228 $639 $589
Pennsylvania $1,167 $413 $754
Rhode Island $1,684 $820 $864
South Carolina $1,458 $656 $802
South Dakota $1,245 $312 $933
Tennessee $1,170 $426 $744
Texas $1,471 $664 $807
Utah $1,248 $607 $641
Vermont $993 $327 $666
Virginia $960 $381 $579
Washington $1,261 $652 $609
West Virginia $1,307 $504 $803
Wisconsin $1,005 $359 $646
Wyoming $1,184 $333 $851

 

“Full coverage” isn’t a type of policy you can select from a list, but generally includes comprehensive and collision insurance on top of any additional state-mandated coverage types, such as liability insurance. The policies we analyze also include uninsured/underinsured motorist coverage.

 

Reposted from: Nerd Wallet Average Car Insurance

Posted 8:14 PM

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NOTICE: This blog and website are made available by the publisher for educational and informational purposes only. It is not be used as a substitute for competent insurance, legal, or tax advice from a licensed professional in your state. By using this blog site you understand that there is no broker client relationship between you and the blog and website publisher.
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