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.
Use NerdWallet's car insurance estimator to calculate how much your car insurance costs could be, plus read on to learn how much coverage you should get.
Learn about non-owner car insurance, including coverage options, costs, benefits, and who needs it. Get answers to your non-owner insurance questions here.
Estimate car insurance cost in your state based on how much coverage you will need by using Forbes Advisor’s Car Insurance Calculator.
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.
The cost of car insurance has surged 26% in the past year, according to Bankrate. Certain factors such as your credit score can prompt higher costs.
Geico offers the cheapest car insurance in California, with average estimated rates of $484 per year or $40 per month for minimum liability coverage
Key Takeaways: ; Try to purchase the maximum car insurance coverage you can comfortably afford so you and your vehicle are covered in most scenarios. ; Liability car insurance is mandatory in most states. While collision and comprehensive coverage is not, it is strongly recommended. ; When shopping for car insurance, consider your premium payment, deductible, and coverage limits to ensure you have optimal protection.
Bankrate estimates the national average cost of full coverage car insurance in 2024 increased by 26% to $2,543, up $529 from a year earlier. That’s six times faster than overall inflation...
On average, you can expect car insurance in the United States to cost $223 per month for full coverage and $72 per month for minimum coverage.