USA: Car Insurance Costs in 2023

The average annual cost of car insurance in the USA for good drivers is approximately $2,067. This translates to an average monthly cost of $172. Florida tops with US $4,326 annual rates.

Salman Chaudhary, Founder Pinkywheels.com

10/31/2023

USA: Car Insurance Costs in 2023
USA: Car Insurance Costs in 2023

USA: Car Insurance Costs in 2023

How much is Car Insurance?

Car insurance expenses amount to an annual average of $2,067, as per expert’s assessment of rates offered by prominent car insurance companies. This translates to an average monthly cost of $172.

Here's a breakdown of the average annual and monthly car insurance costs for good drivers with various insurance providers:

  • USAA: $1,412 (Monthly: $118)

  • Auto-Owners: $1,628 (Monthly: $136)

  • Geico: $1,716 (Monthly: $143)

  • Westfield: $1,759 (Monthly: $147)

  • Travelers: $1,852 (Monthly: $154)

  • State Farm: $1,959 (Monthly: $163)

  • Nationwide: $2,041 (Monthly: $170)

  • Erie: $2,144 (Monthly: $179)

  • Progressive: $2,157 (Monthly: $180)

  • American Family: $2,176 (Monthly: $181)

  • Farmers: $2,381 (Monthly: $198)

  • Safe Auto: $2,647 (Monthly: $221)

  • Allstate: $3,000 (Monthly: $250)

These rates are calculated based on a female driver, aged 45, insuring a Toyota RAV4 with liability coverage of 100/300/100 ($100,000 in bodily injury liability per person, $300,000 per accident, and $100,000 in property damage liability). The coverage also includes collision and comprehensive insurance with a $500 deductible.

Car Insurance Rates by State

Here are the average annual car insurance rates by state:

  • Alabama: $1,809

  • Alaska: $2,323

  • Arizona: $1,696

  • Arkansas: $2,061

  • California: $2,462

  • Colorado: $2,489

  • Connecticut: $1,730

  • Delaware: $2,462

  • Florida: $4,326

  • Georgia: $2,181

  • Hawaii: $1,633

  • Idaho: $1,021

  • Illinois: $2,345

  • Indiana: $1,454

  • Iowa: $1,238

  • Kansas: $1,693

  • Kentucky: $1,979

  • Louisiana: $3,629

  • Maine: $1,216

  • Maryland: $3,349

  • Massachusetts: $2,333

  • Michigan: $2,995

  • Minnesota: $2,360

  • Mississippi: $1,704

  • Missouri: $2,323

  • Montana: $1,770

  • Nebraska: $1,538

  • Nevada: $3,342

  • New Hampshire: $1,411

  • New Jersey: $2,240

  • New Mexico: $2,104

  • New York: $4,769

  • North Carolina: $1,307

  • North Dakota: $1,319

  • Ohio: $1,112

  • Oklahoma: $2,291

  • Oregon: $1,459

  • Pennsylvania: $3,600

  • Rhode Island: $2,715

  • South Carolina: $2,387

  • South Dakota: $1,821

  • Tennessee: $1,720

  • Texas: $2,938

  • Utah: $1,955

  • Vermont: $1,037

  • Virginia: $1,486

  • Washington: $1,829

  • West Virginia: $1,688

  • Wisconsin: $1,905

  • Wyoming: $1,341

Source: Quadrant Information Services. Rates are based on liability coverage of 100/300/100 ($100,000 in bodily injury liability per person, $300,000 per accident, and $100,000 in property damage liability) uninsured motorist coverage.

Several factors influence the cost of car insurance, including:

  • Your driving record

  • Your age and years of driving experience

  • Your location

  • Selections made for car insurance coverage

  • Deductible amount (if you purchase collision and comprehensive coverage)

  • Vehicle model

  • Car insurance history, such as continuous coverage or lapses

  • Your credit-based insurance score

FAQs: USA Car Insurance Costs in 2023

Q1: What is the average annual cost of car insurance in the USA in 2023?

The average annual cost of car insurance in the USA for good drivers is approximately $2,067. This translates to an average monthly cost of $172.

Q2: Which car insurance company offers the lowest rates for good drivers in 2023?

In 2023, USAA offers one of the lowest average annual rates at $1,412, which is equivalent to a monthly cost of $118. Keep in mind that rates may vary depending on your specific circumstances and location.

Q3: Which car insurance company has the highest rates for good drivers in 2023?

Allstate has one of the highest average annual rates for good drivers in 2023, coming in at $3,000 annually or $250 per month.

Q4: What factors influence the cost of car insurance in the USA?

Several factors can influence the cost of car insurance in the USA. These factors include your driving record, age, location, car insurance coverage selections, deductible amount (if you purchase collision and comprehensive coverage), vehicle model, car insurance history, and your credit-based insurance score.

Q5: How are the car insurance rates determined for the provided breakdown of rates?

The rates provided in the breakdown are calculated based on a female driver aged 45, insuring a Toyota RAV4 with liability coverage of 100/300/100, which means $100,000 in bodily injury liability per person, $300,000 per accident, and $100,000 in property damage liability. The coverage also includes collision and comprehensive insurance with a $500 deductible.

Q6: Are there variations in car insurance rates by state in the USA?

Yes, car insurance rates vary by state in the USA. The average annual rates can be significantly different from one state to another. Factors such as the level of risk, local laws, and the number of insured drivers in each state can affect these variations.

Q7: Which state has the highest average annual car insurance rates in 2023?

Florida has the highest average annual car insurance rates in 2023, with an average of $4,326.

Q8: Which state has the lowest average annual car insurance rates in 2023?

Ohio has one of the lowest average annual car insurance rates in 2023, with an average of $1,112.

Q9: Can I lower my car insurance rates in 2023 by improving my driving record or credit score?

Yes, improving your driving record and credit-based insurance score can help lower your car insurance rates. Many insurance companies offer discounts for safe driving and better credit scores, which can lead to more affordable premiums.

Q10: Where can I find the source of this information on car insurance rates in the USA in 2023?

The information on car insurance rates in the USA in 2023 is sourced from Quadrant Information Services. Rates are based on liability coverage of 100/300/100, which includes $100,000 in bodily injury liability per person, $300,000 per accident, and $100,000 in property damage liability, as well as uninsured motorist coverage.