If you own a car, purchasing car insurance is inevitable.
- On average, Americans spend $125 a month, or $1,503 for an annual rate, on car insurance.
- Various factors can go into the pricing of car insurance including geographical location — making every state’s average cost slightly different.
- Drivers in Michigan spend the most on car insurance, while those in its neighboring state Ohio pay the least.
If you own and operate a vehicle, car insurance is a necessary purchase. On average, Americans spend $125 a month, or $1,503 for an annual rate, on car insurance, according to a study done by ValuePenguin.
Car insurance it not a one-size-fits all purchase. The price of car insurance can vary greatly depending on a number of factors including age, gender, marital status, driving record, years of driving experience, credit history, the type of car you drive, your claims history, and more.
ValuePenguin noted that annual car insurance premiums have been on the rise in a majority of states. In 2014, it was reported that the average annual cost of car insurance was $907.38.
ValuePenguin found out the latest average car insurance rates in each state for both monthly and annual payments.
Below, we’ve broken down the list and ranked the states from lowest to highest in terms of the average amount spent on car insurance. The ranking is based on each state’s monthly average, and annual rates for each state are also listed.
