Insurers may set rates based on your gender, except in the states of California, Hawaii, Massachusetts, Michigan, Montana, North Carolina and Pennsylvania, where insurers have been banned from using gender as a rate factor.ĭrivers with good credit are often offered lower rates. Rates gradually decrease and see a slight increase again around 65. As a bonus, features like anti-lock brakes, anti-theft systems and passive restraint systems can even earn you extra discounts from some insurers.ĭrivers typically see the highest rates between ages 16 and 25. More affordable, standard-sized cars with modern safety features are typically the cheapest to insure. Hybrid and electric vehicles : Parts and labor for these vehicles can be pricey, which means you’ll pay higher premiums for full-coverage policies for hybrids and EVs.The high purchase price also leads to greater insurance premiums. High-end luxury cars : As with sports cars, replacement parts for luxury vehicles are more expensive than for standard daily drivers.Sports car also tend to have higher costs for replacement parts Sports cars : Vehicles built for speed and performance are at higher risk of causing accidents.Large SUVs : Because of their large size and capacity for more passengers, these vehicles often cause more damage and injuries during accidents.Here are a few types of vehicles that tend to be more expensive to insure: The cost of parts and repairs, the likelihood of accidents and the vehicle’s safety features all contribute to how much you pay for auto coverage. The type of vehicle you drive plays a key role in setting your car insurance rates. Comprehensive coverage protects your car against damage from natural disasters, theft, fire and vandalism. Collision coverage pays for damage to your vehicle no matter who causes an accident. It’s required in most states and covers other drivers’ injuries and vehicle damage when you cause an accident.įull-coverage car insurance goes beyond state-minimum coverage by adding collision and comprehensive coverage to liability protection. Liability insurance has two components: bodily injury and property damage. There are good reasons for the wide price difference between full-coverage car insurance and minimum-liability coverage. This is because insurers consider factors like your location, driver profile, vehicle and desired coverage when calculating premiums. However, what you pay for auto insurance coverage varies based on your personal information. The average cost of full-coverage insurance is $1,730 per year or $144 per month, while minimum-liability coverage averages $635 per year or $53 per month.
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