Car insurance costs remain steady nationwide through October 2024

Giorgos Zacharia, PhD Co-founder | Insurify

National car insurance rates showed minimal changes through October 2024, according to Insurify data. The average monthly cost for liability car insurance was stable at $104, while the full-coverage average decreased slightly to $194.

In most states, minimum-coverage auto insurance rates either remained unchanged or varied by a few dollars. Full-coverage rates increased in 16 states and either stayed the same or dropped in others.

Location significantly influences car insurance costs due to factors such as extreme weather, traffic congestion, accident frequency, and vehicle crime rates. Virginia experienced the largest increase in full-coverage averages from $185 to $188 per month. Conversely, Kentucky saw the greatest decrease of over $6, bringing its average full-coverage policy down to $190 per month.

New York had the highest overall average cost of car insurance in October at $274. Virginia noted a notable rise in full-coverage rates with an increase of $3.75 per month to reach $188 by the end of October.

North Carolina reported the lowest overall average rate at just $82 per month. Its full-coverage rate decreased from September's $110 to October's end at $108.

Car insurance rates can vary based on several factors including driving history, age, gender, location, credit history, vehicle make and model, usage patterns, equipment features like safety devices, coverage type and limits chosen by policyholders as well as deductible amounts.

To save on car insurance costs drivers are advised to maintain safe driving habits avoid speeding look for available discounts raise deductibles if feasible adjust coverages appropriately and compare quotes from different insurers when renewing policies

Insurify's analysis utilized over 97 million rate samples from applications across its database sourced directly from more than 50 partner companies nationwide The study reflects premium averages considering clean driving records along with typical or better credit standing for individuals aged between twenty seventy years old