What Is the Average Amount Paid For Auto Insurance in the United States?

Car insurance shopping is one of the challenging jobs you can ever do in your life. Especially, when you do not have much knowledge about this subject, then it seems more difficult and complicated. There are lots of people who are not aware about what is the average amount paid for auto insurance in the United States? However, this should be the basic knowledge every car insurance, van insurance, truck insurance buyer must have while shopping.

Where to Get the Information

It is not a rocket science to collect information about auto insurance in the US. There are lots of ways of the same. The very first thing you can get the right information regarding this matter is asking your general insurance agent. Even if he cannot give you proper information then he can help you by taking you who has deep knowledge about this topic. You can talk to that person and collect information about auto insurance coverage in the USA.

If you do not know any such expert then you just need to do a little research on the internet, and everything will be clear for you.

Factors to Be Considered

Few factors are generally considered when determining the cost of the auto insurance. These are the circumstances that determine how much money an insurance buyer must pay to the insurer at the time of buying the coverage. The main factors are

• The age of the car

• The condition of the car

• The age of the car owner

• The gender of the owner

• The driving record of the owner

• The credit score of the buyer

• The state of the US where the buyer lives

• The locality where the car will be kept and mostly driven

• Is there any additional features you will gain with that coverage?

Whenever you wish to know what the average amount is paid for auto insurance in the United States, you should understand these things first.

Premium Rates of Different States

This is true that in the US you can find different car insurance rates in different states. For instance, in Washington, the annual car insurance rate is $1,499. On the other hand, in Wisconsin, this rate becomes $1,087. When you come to Texas, then you have to pay $1.620 as the annual insurance premium for your car.

However, comparing with the average car insurance rate in 2014 it can be seen that most of the major states of the USA have seen a raise in the annual premium rate of vehicle insurance. Nonetheless, there are some exceptions such as Virginia, North Carolina and Georgia where you can experience a drop off car insurance premium rates from in 2017 from the previous years.

High Rates for Young Drivers

It is proven that young drivers are most accident prone and dangerous behind the wheels. This is the reason the Departments of Insurance of the various states of the USA try to maintain a general rule in this matter. Drivers below the age of 25 need to pay a higher premium rate annually. In some situations, you can experience that the car insurance rate can fluctuate drastically on the basis of your age in America. Thus, the factor of age must be kept in your mind while looking for the answer to what is the average amount paid for auto insurance in the United States.

Difference of Rates by Gender

Apart from your age one more vital factor which determines the average car insurance rate is your gender. It is proven that a male driver whose age is below 20 year needs to pay an average of 12% more than his female counterpart when he goes to buy auto insurance in the USA.

Talk to your insurance company or use the online auto insurance calculator to understand how much you need to pay to buy auto insurance in the US.