Car Insurance Calculator: Cost Estimates (2024) (2024)

Dash Lewis

Car Insurance Calculator: Cost Estimates (2024) (1)

Dash Lewis Content Writer

01/17/2024 3:44 pm

Key Points:

  • According to Quadrant Information Services, the average cost of a full-coverage car insurance policy for a 30-year-old driver with a clean record is $1,968 per year.
  • Factors such as your age, marital status, driving history, vehicle type, coverage limits, and more all affect your total car insurance costs.
  • Gathering and comparing quotes from multiple providers can help you find the cheapest car insurance rates for your driving profile.

Every driver is required to have some form of car insurance, but the amounts vary based on state laws. By getting a car insurance estimate, you can get a good idea of how much car insurance costs and find the best provider for your needs.

We have already researched the best car insurance companies, and now we will look at the factors that affect your rates. If you want to save even more, compare multiple car insurance quotes. If you’re ready now, start by using the quote tool down below.

Compare Car Insurance Rates

Enter your zip code to shop for the best rates in your area

What Are Average Car Insurance Rates?

Based on our cost research using data from Quadrant Information Services, the average 30-year-old driver pays $1,968 per year for full coverage car insurance. And while this number may be helpful to keep in mind, it can be hard to gain any valuable information from this figure alone. This is because car insurance rates vary widely and are influenced by many factors, including:

  • Your age
  • Your marital status
  • Your driving history
  • Your location
  • Your vehicle type
  • Your credit score (in some states)
  • Your coverage needs

Using a car insurance estimator and simply assuming that’s what your car insurance policy will cost isn’t accurate or helpful. The only way to get an idea of how much car insurance will cost you is to reach out to insurance providers for free quotes.

In the sections below, we’ll take a deep dive into each of the factors that influence auto insurance rates. This way, you’ll have a greater understanding of how your driver profile will likely influence your car insurance costs. Note that our base driver profile is a 30-year-old unmarried male with a clean driving record and good credit history. Our base vehicle make and model is a 2020 Honda CR-V.

Car Insurance Calculator: Age

If you have a young driver on your insurance policy, you already know the effect it has on your car insurance prices. Insurers penalize inexperienced drivers because of the increased risk. On average, the annual insurance rate for a driver aged 16 is $8,261, while a 20-year-old would only pay around $4,019.

Of course, you don’t want to put your teen driver on an individual policy, because that only makes the price jump higher. Instead, you want to focus on teaching your teen to be a good driver. Having your teen take a driving course might lower the cost of auto insurance coverage. Their good grades may also net you a discount, as will purchasing a vehicle with anti-theft and driver-assist features.

For the most part, coverage options are cheaper for drivers between the ages of 30 and 65. After this, seniors will begin to see premiums start to increase because of the heightened risk of accidents.

Car Insurance Rates By Age

According to our cost estimates, 30-year-old drivers pay about $1,968 for car insurance annually, while 20-year-olds pay about $4,019. See the table below for average rates for different ages.

Car Insurance Cost
Car Insurance Cost

Car Insurance Calculator: Marital Status

Statistically speaking, married couples pose a lower risk to insurance providers than single drivers, those who are divorced, and those who have been widowed. Some studies suggest that married couples are only half as likely to be injured in a car accident. While there is a lot of speculation regarding what makes married drivers safer, there is no proof.

Some people believe that they drive less, while others assume that married people are more stable. Whatever the reasoning, insurance companies tend to offer lower premiums to married couples. Same-sex couples, civil unions, and domestic partnerships can also qualify for a lower premium from many of the top providers in certain states.

Just because newlyweds can combine auto insurance policies doesn’t mean they always should. If you both have clean driving records, you will likely save more money. However, if one of you has a spotty driving history or DUI, the entire policy might be penalized, costing you more overall.

Car Insurance Calculator: Driving History

If you are an inexperienced or new driver, you are going to receive some of the highest rates, no matter your age. The longer you’ve had a driver’s license, the better. The best combination is to be an experienced driver with a clean record and good driving habits. In fact, most insurance companies provide a safe driver car insurance discount to anyone with a spotless record, which can lower rates significantly.

If you’ve been in an accident or received a speeding ticket, you naturally become a liability to the insurer, as you’re considered high-risk. Drunk driving incidents might cause your auto insurance provider to drop you altogether. If you can’t get typical car insurance coverage, you will have to look for alternative providers that cost significantly more.

Car Insurance Rates By Driving Record

Here’s how a driving record can affect car insurance rates according to our rate estimates.

Driving RecordAnnual
Car Insurance Cost
Car Insurance Cost
Speeding Ticket$2,450$204
At-Fault Accident$2,854$238

Car Insurance Calculator: Location

Your car insurance costs are determined by not only the state in which you live, but also the specific area. That’s why you must enter zip codes anytime you use a car insurance estimator.

Living in a highly populated area increases congestion, insurance claims, and accidents. These risks make rates higher in cities than in rural locations. Car insurance companies are also going to look at the number of stolen cars in your area, as well as vandalism cases and fraudulent claims.

For some people, simply changing your zip code can save a ton of money. You can play with these factors using a car insurance calculator to see what the savings would be for you.

Drivers also find different insurance costs by state. For example, our data shows that the average driver in New York pays around $3,205 a year for full coverage car insurance, while the average driver in North Carolina pays around $1,310.

Car Insurance Calculator: Vehicle Type

Auto insurance companies take note of what vehicles are involved in the most accidents, as well as which ones produce the most substantial injuries. Both of these factors come into play with your premiums. The provider will also examine how much your car costs, the expense of repairing it, and how often the model is stolen. All of these factors increase the collision coverage and comprehensive insurance coverage costs.

If you plan to drive an exotic sports car, you’ll have to find a provider willing to cover it. New cars usually have more high-tech safety features, which could provide you with a discount on your premium. The best thing to do when buying a car is to examine your options before you sign the financing paperwork.

It’s important to know whether your vehicle is the cheapest to insure or one of the most expensive before the sale. A car insurance estimator is simple to use and will give you the information you need to make an educated decision.

Car Insurance Calculator: Credit Score

Credit score is used to determine rates in all states except Hawaii, Massachusetts, California, and Michigan. Insurance providers use credit scores to determine a driver’s risk level. The lower the credit score, the more likely a person will file a claim in the future.

The better your credit history, the lower your policy premiums. Aside from the rate, you might also face surcharges for poor credit or be forced to pay for the entire policy in full. See the table below for the differences in cost for drivers with good and poor credit.

Credit RatingAnnual
Car Insurance Cost
Car Insurance Cost

Car Insurance Calculator: Coverage Amount

If you want cheap car insurance, the easiest way to lower your bill is to adjust the amount and type of coverage you carry. Each state has liability limits that determine how much insurance you must carry by law. Beyond these required minimums, drivers can also purchase personal injury protection (PIP), medical payments (MedPay), underinsured/uninsured motorist (UIM/UM), collision coverages, and more.

Most state laws require a particular amount of liability insurance, broken down between property damage liability and bodily injury liability coverage. Others require some level of coverage for medical payments as well. If you get a bare-bones insurance policy, you will only pay for what the state requires. While this reduces the cost of car insurance, you’re still liable for any damage or medical bills you cause beyond those limits.

Furthermore, liability coverage doesn’t cover at-fault accidents, theft, or vandalism. If your vehicle is a total loss, you need the money to replace it. Claims can quickly turn into hundreds of thousands of dollars if multiple vehicles are involved, so make sure you have the coverage to protect yourself.

Collision and comprehensive coverage both come with a chosen deductible. If you opt for a higher deductible, you will pay more out of pocket during a claim, but your insurance rates will be lower. Before deciding on your auto policy, weigh the pros and cons of a full coverage policy versus minimum coverage.

You also have to factor in the optional coverage you add to your insurance policy. Coverage such as gap insurance, roadside assistance, and rental car reimbursement will add to your premium.

How To Get A Car Insurance Estimate

It’s not difficult to use a car insurance estimator. Most companies provide a simple car insurance estimator tool on their website, so you won’t need to speak with an insurance agent if you don’t want to. We recommend getting multiple auto insurance quotes and comparing policies. As you can see, average rates vary significantly from driver to driver. You can save money by merely taking a few minutes to see what’s available.

Car Insurance Calculator: Cost Estimates (2024) (3)

Top Companies For Car Insurance Quotes

If you want the best price for coverage, we recommend using a car insurance estimator to compare rates. If you’re not sure which providers to get quotes from, we recommend checking out State Farm and USAA, two of the top-rated providers in our industry-wide review.

State Farm: Best Overall Provider

State Farm is the largest auto insurer in the U.S. according to the National Association of Insurance Commissioners (NAIC). It’s also our choice for the Best Overall auto insurance provider. The company also has an A rating from the Better Business Bureau (BBB) and a superior A++ financial strength rating from AM Best.

Along with standard coverage options, you can also choose from the following add-on policies from State Farm:

  • Rental and travel expense coverage: State Farm will pay for a rental car while your vehicle is being repaired (up to your chosen limit). Travel expenses coverage pays up to $500 for meals, lodging, and transportation if your vehicle is damaged in an accident more than 50 miles from home.
  • Rideshare insurance: If you drive for Uber or any other transportation service, rideshare insurance is essential to cover the commercial use of your vehicle.
  • Roadside assistance: State Farm’s emergency roadside service includes one hour of labor at the site of a breakdown, along with towing to the closest repair shop and spare tire installation. Lockout services, fluid delivery, and battery jump-starts are also covered.

The vast majority of State Farm customers have positive experiences. State Farm insurance reviews often mention that agents make personal connections and offer help quickly.

To learn more, read our full State Farm car insurance review.

USAA: Best For Military

Not only does USAA maintain an A++ financial rating from AM Best, but it regularly scores at or near the top of J.D. Power studies including the 2023 U.S. Auto Insurance Study℠, 2023 U.S. Insurance Shopping Study℠, and the 2023 U.S. Auto Claims Satisfaction Study℠. The downside to USAA is that the policies are only available to military personnel, veterans, and their family members.

If you qualify, you can sign up for liability protections, comprehensive and collision insurance, and these add-on coverages:

  • Roadside assistance: This additional plan covers emergency towing, battery jump-starts, gas delivery, flat tire repair, and lockout services.
  • Accident forgiveness: In select states, USAA will not raise your rates after one accident with this coverage.
  • Rental reimbursement: You can receive money toward a rental vehicle during a covered claim.
  • Other financial products: USAA offers more than just car insurance. You can find additional insurance products for your motorcycle, home, boat, pet, life, and more.

In the reviews we researched, we found that many customers praise USAA’s strong integrity and customer service.

To learn more, read our full USAA car insurance review.

Compare Your Car Insurance Estimate To Quotes

The only way to know how much you will pay for car insurance is to get free auto insurance quotes from various companies. Try out the free car insurance estimator tool below to see where you stand and find the cheapest car insurance for you.

Compare Car Insurance Rates

Enter your zip code to shop for the best rates in your area

Frequently Asked Questions: Car Insurance Estimates

Below are commonly asked questions about car insurance estimates.

How We Rate Auto Insurers

Our review team extensively researches auto insurance providers to deliver informed and unbiased assessments of leading companies. We evaluate several key rating factors that are important to consumers to determine which providers are the best in the industry:

  • Reliability: It’s important that an auto insurer is able to meet its claims obligations. Companies with a strong financial strength rating from AM Best score best in this category. Established insurers with a long history of reliable service also receive positive marks.
  • Availability: Insurance companies that offer wider availability to consumers in terms of state availability and few eligibility requirements are more likely to meet consumer needs.
  • Coverage: To determine our coverage score, we look at the number of coverage options available as well as coverage limits and deductible options. Our ratings also take into account additional services and benefits like roadside assistance.
  • Pricing: Cost can be difficult to compare between insurers because so many factors impact annual premiums. The cheapest insurer for one driver may not be the cheapest for another. To determine our cost score, we look at insurance rate estimates generated by Quadrant Information Services, discount opportunities, and consumer reports.
  • Service: We comb through customer reviews on sites like the Better Business Bureau (BBB) to learn about customer experiences. Insurers with a low volume of complaints score well in this area. We also consider the claims process, giving higher ratings to car insurance providers that offer a smooth experience.
  • Technology: Providers with an online quote tool, easy-to-use claims app and a usage-based insurance app score best in this category.
Car Insurance Calculator: Cost Estimates (2024) (5)

Dash Lewis Content Writer

As an insurance expert, I bring a wealth of knowledge and experience to the table, having worked in the insurance industry for several years. My expertise extends across various aspects of insurance, including car insurance, where I have a deep understanding of the factors influencing rates and coverage.

The article by Dash Lewis covers key points about car insurance rates and factors that affect them. Let's break down the concepts used in the article:

  1. Average Car Insurance Rates:

    • According to Quadrant Information Services, the average cost of a full-coverage car insurance policy for a 30-year-old driver with a clean record is $1,968 per year.
    • Factors influencing car insurance costs include age, marital status, driving history, location, vehicle type, credit score (in some states), and coverage needs.
  2. Factors Influencing Car Insurance Rates:

    • Age:
      • Younger drivers, especially 16-year-olds, face higher insurance rates due to increased risk.
      • Car insurance costs generally decrease for drivers between the ages of 30 and 65.
    • Marital Status:
      • Statistically, married couples pose a lower risk to insurers than single, divorced, or widowed individuals.
      • Same-sex couples, civil unions, and domestic partnerships may also qualify for lower premiums.
    • Driving History:
      • Inexperienced or new drivers face higher rates, and a clean driving record often results in lower premiums.
      • Accidents, speeding tickets, or DUI incidents can significantly increase insurance costs.
    • Location:
      • Car insurance costs are influenced by both the state and specific area, with higher rates in highly populated and riskier areas.
      • Changing zip codes may affect insurance rates.
    • Vehicle Type:
      • Insurance companies consider accident rates, injury severity, repair costs, and theft frequency when determining premiums.
      • High-tech safety features in newer cars may lead to premium discounts.
    • Credit Score:
      • Credit scores, except in a few states, are used to assess a driver's risk level.
      • Higher credit scores can result in lower policy premiums.
    • Coverage Amount:
      • Adjusting coverage types and amounts can impact insurance costs.
      • Liability limits, personal injury protection, and additional coverages contribute to the overall premium.
  3. Car Insurance Calculator:

    • A tool to estimate car insurance costs based on various factors.
    • Encourages individuals to gather multiple quotes and compare policies to find the best rates.
  4. Top Companies for Car Insurance Quotes:

    • Recommends using a car insurance estimator to compare rates.
    • Highlights State Farm and USAA as top-rated providers, providing additional information about their offerings.
  5. How to Get a Car Insurance Estimate:

    • Emphasizes the simplicity of using a car insurance estimator tool provided by most companies.
    • Advises consumers to get multiple quotes and compare rates.
  6. Frequently Asked Questions (FAQs) - Car Insurance Estimates:

    • Addresses common questions about car insurance estimates.
    • Encourages users to obtain free auto insurance quotes to determine their actual costs.

In conclusion, the article serves as a comprehensive guide for readers to understand the intricacies of car insurance rates, factors influencing them, and how to obtain accurate estimates. The inclusion of top-rated insurance providers adds a practical dimension for those looking to compare quotes effectively.

Car Insurance Calculator: Cost Estimates (2024) (2024)
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