Leif Olson, Car Insurance Writer
@leif_olson_1
A $500 monthly car insurance premium is very expensive. Minimum coverage costs about $60 per month on average, while full coverage costs an average of $166 per month, so paying $500 per month for car insurance would be a lot.
Average Cost of Car Insurance by Company
| Company | Minimum Coverage Cost | Full Coverage Cost |
| $42 per month | $139 per month | |
| $48 per month | $177 per month | |
| $52 per month | $166 per month | |
| $54 per month | $168 per month | |
| $57 per month | $199 per month | |
| $73 per month | $229 per month | |
| $76 per month | $218 per month |
Average monthly premiums reflect nationwide quotes for a 45-year-old driver with a clean driving record.
To learn more, check out WalletHub’s guide to the cheapest car insurance companies.
People also ask
How much is car insurance monthly?
Car insurance costs $60 per month, on average, for a minimum coverage policy, although individual rates might vary. Full coverage car insurance is more expensive because it also pays to repair or replace your car after it is damaged by a crash or something other than an accident, like vandalism.
Average Price of Car Insurance per Month
| Driver’s Age | Average Monthly Premium |
| ... | $278 |
Can I get classic car insurance without a garage?
Yes, you can get classic car insurance without a garage, though finding an insurance company to cover your vehicle may be difficult, and you’ll still need a safe place to store the car. Instead of a garage, some companies may allow you to store your vehicle in a driveway, carport, barn, trailer, or storage unit, for example.
Storage Requirements by Classic Car Insurance Company
Even though a garage is a common requirement for classic...
read full answer by Milvionne Chery Copeland, WriterHow much should I pay for full coverage auto insurance?
You should pay between $1,100 and $4,500 per year for full coverage auto insurance, depending on your state. The average cost of full coverage insurance is about $1,997 per year, though the exact price depends on how much coverage you purchase, your characteristics as a driver, and your insurance provider. Since the cost of full coverage insurance varies between drivers and insurers, it’s best to get quotes from at least three different companies before purchasing a policy.
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