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The true cost of auto insurance encompasses national averages and personalized premiums. And it’s a cost that can add up to being one of your biggest monthly expenses.
There are many ways that an auto insurance premium is calculated. From location to vehicle type, there are factors, besides a clean driving record, that go into determining a premium. But knowing the average premium amount may help you when it comes to shopping prices or buying a car.
Average Car Insurance Premiums
Auto insurance premiums are based on what coverage you purchase. You can choose liability only or full coverage. Full coverage comes with many options that can add to the premium.
Anne Johnson was a commercial property and casualty insurance agent for nine years. She was also licensed in health and life insurance. She went on to own an advertising agency, where she worked with businesses. She has been writing about personal finance for 10 years.
