Allworth Guide: How Smart Cars Affect Car Insurance
Amy Wagner of Allworth Financial explains how your smart car can affect your car insurance.
Allworth Finance
A Californian has the right to complain about real estate or gasoline prices, but he may be less happy about the cost of car insurance.
NerdWallet calculated the average annual cost of full and minimum car insurance for all 50 states to determine which states are affordable for drivers and which are less so.
The national average cost of full coverage insurance for someone with a clean driving record and good credit is $1,765 per year. according to NerdWallet’s interest rate analysis from August 2024Minimum coverage costs an average of $493 per year. Auto insurance premiums in California are just under both amounts.
Through June 2024, the average cost of car insurance has increased 20% year over year, USA TODAY reported. The price increase is due to several reasons, including high repair rates and severe weather trends.
How much does car insurance cost in California?
According to NerdWallet’s California Insurance Cost Report, the average cost of full coverage insurance is $1,622 per year, while the average cost of minimum coverage is $462.
Some states with rates comparable to California’s include:
What is the cheapest car insurance in California?
Geico, Grange Insurance Association, Auto Club of SoCal, Mercury and State Farm offer the cheapest car insurance rates with minimum coverage for a 35-year-old driver with a clean driving record and good credit, according to NerdWallet. If that doesn’t apply to you, NerdWallet also broke down the costs for drivers of different ages and driving records.
In which states is comprehensive car insurance cheapest?
According to NerdWallet, Wyoming is the cheapest state for full coverage car insurance at $970 per year, followed by Vermont at $1,085 per year and New Hampshire at $1,130 per year.
In which states is comprehensive insurance most expensive?
Drivers in Louisiana pay $3,150 per year, the highest fee in the country. Florida and Texas follow Louisiana in this costly benefit at $3,069 and $2,680, respectively, according to NerdWallet.
Paris Barraza is a trends reporter covering California for The Desert Sun. Reach her at [email protected]. Follow her on Twitter at @ParisBarraza.
