Car insurance premiums depend on many common factors like a vehicle’s make and model, drivers’ safety records, drivers’ sex, credit scores, drivers’ neighborhood, vehicle usage conditions and years of driving experience. Insurance companies use these factors to determine the cost of insurance and calculate risks. The greater the risk the more insurance will cost.
However, each insurance company has its own way to evaluate these factors and the risk. One company may think you are a big risk and another might not. So, it is important to do a comparison shop. EINSURANCE is always your first step to cheap car insurance because we provide you with multiple quotes to compare at one time to help you make your decision.
Also, you could save big if you look for insurance companies’ discounts. For example, most drivers see their insurance premiums go down after they reach 25 years old. Companies give good student discounts if the student has a good grade point average. Ask the company representative directly if you qualify for any discounts.
You can also increase your deductible and save money. The amount of your deductible plays a big part in determining the amount of your insurance premium. You will pay less each month by opting for a larger deductible. If you have a few bucks in the bank and are a good driver, this is a real option. The difference between a $500 deductible and a $1500 deductible is significant.
How to Get Cheap Car Insurance Coverage?
Average Cost of Car Insurance By State
Based on a research conducted by ValuePenguin, Americans spend $78.47 a month , or $941.65 for an annual rate, on car insurance premiums in 2018. Also, the average cost of car insurance has generally increased in the last few years. Here are the top 10 most expensive car insurance premiums states:
|State||Monthly Car Insurance Rate||Annual Car Insurance Rate|
|5. Rhode Island||$129||$1,544|
|6. New Jersey||$122||$1,460|
|7. District of Columbia||$107||$1,284|