Many people may wonder, “How much is monthly insurance on a car?” Well, if you are one of them then you need to know that in the United States, drivers spend $150 for vehicle insurance on an average. Besides, premiums charged for auto insurance policies can depend on a variety of factors like type and amount of coverage sought, state in which you reside, make and model of car, etc.
If you are a 17 year old driver who is thinking, “How much car insurance cost for a month?” then you have to be prepared to pay significantly higher premium. Majority of the insurers across the country consider this category of individuals to be reckless drivers. Statistics show that accident rates for high school student drivers are comparatively much higher than those who belong to higher age groups. Nevertheless, 17 year olds can qualify for discounts on premiums if they maintain good grades in academics and take course in defensive driving.
Most of the car insurance companies provide monthly premium schedules for 6 month car coverage as well as yearly policies. The monthly premium instalment is inclusive of fees that are usually quite nominal. However, average auto insurance premium rates are likely to vary from state to state. Here is some information pertaining to the same which is based on a study conducted in 2012.
Hassle Free Auto Insurance Quotes From Multiple Insurers, Save Up To 50%
So if you are wondering, “How much is car insurance for a month?” from the above, it is clear that it depends on the state in which you currently live.
Insurers use diverse methods for calculating monthly car insurance premiums but it they do account for the base rate, which is approved by every state’s Department Of Insurance, while carrying out calculations. In addition, insurance providers also consider age of driver and his past driving record for deciding premiums chargeable.