Insuranks Com s Releases Average Auto Insurance Rates Study

Insuranks.com has recently released a very interesting and comprehensive study of the average car insurance cost per month in the U.S. om 2020.

Main Findings:

Honda Civic, which is among the most popular vehicles in America is not that cheap to obtain. The average cost of Honda Civic insurance is $153 per month and about $1836 per year based on this study.

With a base price of $18,740, the annual insurance cost to base car price ratio of Honda Civic is about 9.8 percent, which is higher than the average of 4 percent.

If you are a 30 years old driver of Honda civic, you should expect a yearly average insurance cost of $2370, or nearly $200. The most expensive model of Honda civic insurance to insure is a 2019 edition. The policies average cost are $2502 yearly, which is 6 Percent more than the average civic.

Allstate car insurance, one of the most popular and trusted auto insurance providers in America, cost per month is $154 on average as well as $1850 per year.

At the same time, Allstate car insurance rate for minimum coverage is $65 per month on average and $785 per year.

It is very interesting to note that these rates are among the most expensive auto insurance rates from the companies that were covered in the study.

Another one of the largest car insurance providers in America, Progressive, has an average rate of $116 per month and $1390 per year.

For minimum coverage you will pay $63 per month or $750 per year.

What You Need To Do If Your Insurance Is Too High?

Here are the following steps you have to follow, if your insurance is too high.

You need to compare car insurance quotes from various providers and check rates among insurers in your area. This best way to save on car insurance.

You will have to re-examine your coverage. Because the more coverage you have, the more you will pay. So you don’t want to have more coverage than what you really need.

There are several other ways to reduce the cost of your car insurance. But here we will offer to you the best ones we believe have the most effect on your car insurance cost reduction. They are as follows:

  1. Reduce coverage on old cars to the minimum you need to still be covered properly.
  2. Maintain an excellent credit record.
  3. Consider applying for group auto insurance.
  4. Seek out discounts from various companies when comparing quotes.
  5. Set higher deductibles on your car insurance.
  6. Before you buy a car, you must be aware of its insurance costs.

The Cheapest Rates For Car Insurance:

USAA offers America’s cheapest auto insurance rates just for $474 per six months policy as well $945 per year on average