Car insurance rates change based on the driver’s age and gender. Use our premiums calculator to estimate your rates.
When it comes to buying car insurance, age and gender can impact rates. See average auto insurance rates broken down across gender and multiple ages.
The national average cost of car insurance is $1,340 per year for women and $1,391 per year for men for full coverage. ; Six states ban insurers from using gender to help set rates. ; The biggest discrepancy is in Wyoming, where male drivers pay 13% more than women on average.
Did you know your age and gender can affect how much you pay for car insurance? Younger drivers typically pay the highest insurance rates.
Key takeaways ; 18-year-old drivers on their own policy pay the highest car insurance premiums out of the age groups Bankrate analyzed. ; The most significant difference in premiums by gender occurs at age 18. On average, 18-year-old males cost 5 percent less to insure than their female counterparts. ; As drivers age, the difference in premium between genders narrows. At age 50, for instance, males only pay 5 percent more more on average per year for full coverage than 50-year-old females.
Car insurance premiums have risen more than 20% in the 12 months ending February 2024, according to the Consumer Price Index released on March 12, 2024. The reasons for the spike range from lingering inflation and the rising cost of repairs to an increase in auto theft and severe weather. Of course, not everyone pays the same amount for auto insurance. Carriers look at many factors to determine how much your premiums will be — only some of which are under your control. Here, CNBC Select lifts the hood on what affects the price you pay for car ...
Affiliate links for the products on this page are from partners that compensate us (see our advertiser disclosure with our list of partners for more details). However, our opinions are our own. See how we rate auto insurance products to write unbiased product reviews. Car insurance provides financial protection after a car accident. Driving uninsured can lead to tens of thousands of dollars in damages and injuries. A crucial component of your policy is your car insurance rates. Understanding how rates work can help you get the most competitive ...
Forbes Advisor analyzed car insurance rates to find the average cost of car insurance by age, coverage level, driver history, gender and state.
According to the study, marital status is almost as significant in car insurance pricing as age and gender. On average, a married 20-year-old pays 21 percent less than a single 20-year-old for the...
Annual average car insurance costs by state can vary from as little as $303 to as much as $4,357 depending on your chosen coverage and where you live.