The average car insurance policy costs $60 per month, or $720 per year, according to WalletHub data. Average car insurance costs are rising overall, having increased by about 27% just from 2008 to 2017, largely due to natural disasters, a rise in distracted driving, higher car repair costs, and population growth in major cities.
Average Car Insurance Cost by Category
- Minimum Coverage: $716 per year
- Full Coverage: $1,997 per year
- Drivers with a Violation: $903 per year
- Young Drivers: $2,415 per year
- Senior Drivers: $734 per year
Individual car insurance rates vary based on factors such as the driver's record, age, car type, and credit history. For example, car insurance is particularly expensive for young drivers and drivers with moving violations on their record. Certain types of cars, specifically sports cars, also drive up rates. Even having poor credit could cause you to pay more for insurance.