A car insurance premium is what you shell out to your auto insurance company to keep you and your vehicle covered. The insurer figures out this cost based on their assessment of how likely you are to file a claim or have someone else claim against you if you cause an accident. How Much Is a Car Insurance Premium in 2024 article will list some price of Car Insurance Premium in 2024.
How Much Is a Car Insurance Premium in 2024?
In 2024, the average annual cost for car insurance was around $1,759, which breaks down to about $147 a month. Here are some other national averages for 2024, categorized by coverage types and age groups, sourced from The Zebra.
State | State Minimum Liability | Full Coverage |
---|---|---|
Alabama | $272 | $886 |
Alaska | $243 | $925 |
Arizona | $306 | $876 |
Arkansas | $310 | $1,059 |
California | $305 | $966 |
Colorado | $282 | $1,090 |
Connecticut | $451 | $981 |
Delaware | $460 | $1,059 |
Florida | $413 | $1,462 |
Georgia | $370 | $991 |
Hawaii | $231 | $704 |
Idaho | $183 | $599 |
Illinois | $257 | $758 |
Indiana | $203 | $633 |
Iowa | $136 | $679 |
Kansas | $239 | $895 |
Kentucky | $461 | $1,284 |
Louisiana | $463 | $1,351 |
Maine | $211 | $620 |
Maryland | $457 | $1,009 |
Massachusetts | $230 | $709 |
Michigan | $452 | $1,088 |
Minnesota | $296 | $853 |
Mississippi | $271 | $907 |
Missouri | $298 | $959 |
Montana | $184 | $899 |
Nebraska | $198 | $909 |
Nevada | $426 | $1,114 |
New Hampshire | $208 | $641 |
New Jersey | $473 | $1,022 |
New Mexico | $224 | $814 |
New York | $491 | $1,086 |
North Carolina | $229 | $574 |
North Dakota | $198 | $778 |
Ohio | $192 | $590 |
Oklahoma | $232 | $949 |
Oregon | $353 | $755 |
Pennsylvania | $252 | $889 |
Rhode Island | $466 | $1,164 |
South Carolina | $367 | $1,012 |
South Dakota | $133 | $804 |
Tennessee | $225 | $759 |
Texas | $366 | $993 |
Utah | $329 | $809 |
Vermont | $166 | $592 |
Virginia | $299 | $757 |
Washington | $395 | $910 |
Washington, D.C. | $400 | $1,106 |
West Virginia | $260 | $855 |
Wisconsin | $199 | $691 |
Wyoming | $156 | $794 |
Full coverage in this context means having liability limits set at 50/100/50, along with comprehensive and collision coverage that comes with a $500 deductible.
Age Group | Average 6-Month Premium | Average Monthly Premium |
---|---|---|
16-19 | $2,670 | $445 |
20s | $1,142 | $190 |
30s | $872 | $145 |
40s | $834 | $139 |
50s | $777 | $130 |
60s | $785 | $131 |
70s | $903 | $151 |
Conclusion
Car insurance premiums are the amount you decided to pay for your auto coverage when you got your policy. To keep those costs manageable, it’s smart to compare rates annually. You can also lower your premiums by paying on time, increasing your deductibles, and ensuring your insurance company has your latest information.