Car insurance costs continue to rise. According to a report from Bankrate, average premiums for full coverage auto insurance hit $2,543 in 2024, a 26% increase from 2023. ; Unsurprisingly, drivers across the U.S. are looking for ways to save. Nearly half (49%) of auto insurance customers are actively shopping for a new plan, according to J.D. Power. ; Full coverage car insurance combines three kinds of coverage and is usually required if you lease or finance your car.
Car insurance costs in Texas are slightly higher than the national average, with drivers paying $960 per year for a liability policy or $3,156 for full coverage.
Most states require liability car insurance, though minimum-coverage requirements vary by state. ; The average cost of liability-only car insurance in the U.S. is $869 per year or $72 per month for 35-year-old drivers with good credit and a clean driving record. ; While liability insurance protects you from paying out of pocket for damages sustained by a third party, you’ll need full coverage to protect yourself if you cause an accident.
Learn from Bankrate about the current average cost of car insurance and ensure that you're not overpaying for this necessary financial protection.
Car insurance pricing takes numerous factors into account. We'll show you the average cost of car insurance in the United States so you know what to expect.
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