Car insurance is tailored to you your car and where you live. It s hard to say how much your insurance premiums will cost as there can be huge variances in price depending on your personal circumstances.
Our recommendation is to purchase enough liability insurance to cover the value of your assets house car savings and investments.
How much will insurance be for my car. Most experts recommend at least 100 000 per person 300 000. That s because drivers under the age of 25 are statistically more likely to have a collision with. To get an idea of what your totaled car is worth find the kelley blue book value for it in fair condition.
Risk is the key factor for insurance providers when it comes to working out how much your premium will cost. How much will my car insurance cost. Your age car insurance for young drivers is by far the most expensive.
Typically it s around 15 000 to 25 000 in bodily injury coverage per. Depending on the amount of. The national average car insurance rate is 1 427 per year for.
However you re more likely to get cheaper car insurance if you choose a certain type of policy. Across the country the average cost of auto insurance is 1 134 per year or about 94 per month the most expensive states for car insurance are louisiana michigan new york rhode island and washington d c while the least expensive states include maine idaho iowa wisconsin and north dakota. Almost every state mandates that drivers have liability insurance.
In this situation money expert clark howard advises that a 250 500 policy is a good starting point. Figure out what the 20 to 40 percent fair condition value is. That s 250 000 of coverage per individual and 500 000 for injuries to all the occupants of another vehicle that you harm.
Along with gas mileage and maintenance costs car insurance costs should be included when calculating the total cost of owning a car. However the minimum coverage requirements can vary.