Car insurance for a new car costs an average of $60 to $166 per month, or $720 to $1,992 per year, depending on factors like the vehicle’s make and model, your driving record and age, what state you live in, and how much coverage you buy. Some brand-new cars are cheaper to insure than others due to safety features and low rates of being stolen.
Most car insurers offer discounts for things like being a safe driver or being continually insured. These discounts can save drivers up to 35% on their premiums.
The best way to make sure you’re getting the best car insurance rates is to compare quotes from at least three different companies. Remember to check quotes every 6-12 months, too, so you know you’re still getting a good deal.
Full coverage insurance on a new car is about $2,000 per year, on average. While the newness of a car is not the primary factor in determining how much insurance costs, having a new car could increase premiums by an average of 5%-33% according to third-party sources.
The cost of full coverage insurance is more dependent on factors like state insurance requirements and the age of the primary driver. In fact, premiums can vary by as much as … read full answer318% between states because the minimum requirements differ so significantly. Further, premiums can also vary by up to 367% depending on a driver’s age.
With this in mind, it’s important to research multiple full coverage offers to get the best rate possible. Fortunately, WalletHub can help you get started with your search. Below are the 10 cheapest full coverage car insurance companies available right now.
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