How Much Does Car Insurance Cost Per Month?
Having car insurance is a law. If you want to drive a vehicle then, you must purchase the minimum amount of insurance, usually liability, on your vehicle. So, how much does this required car insurance cost? Many factors help determine the monthly cost. Here is how you can determine how much car insurance cost per month.
In an average home of three drivers, with no tickets or accidents, the average cost of car insurance per person is $50. A household could estimate a monthly cost of $150 for three drivers. This amount can change greatly depending on your location in the nation, your age and your driving record.
People between the ages of 30 and 60 pay the least amount of money for car insurance per month. Once individuals reach the age of 65, they may have higher rates because people this age have more accidents. The age group that pays the most for automobile insurance is people under the age of 25. In fact, households that add a teenage driver can anticipate doubling the amount of monthly insurance. Statistically, teenagers have more accidents and tickets; therefore, the insurance is much higher.
Different areas of the nation offer different rates for car insurance. The cheapest state for car insurance is Illinois; however, the state does have very strict driving laws. Residents of Illinois can anticipate paying about 25 percent less than the national average. The state of New York has the highest national average rate for car insurance. New Yorker drivers, with a clean driving record, can expect to pay at least $200 a month for car insurance.
Your driving record also plays an important role in the price you will pay per month for car insurance. If you have multiple tickets or accidents, you can expect your insurance to increase by approximately 50 percent per incident. This can really add up for people under the age of 25 with multiple accidents or tickets. Many companies advertise that they do not raise rates if you get one ticket or have one accident. This may be true; however, the second ticket or accident can increase the insurance almost 100 percent. You should shop around for the best rates, especially if you have a poor driving record.