Paying $100 a month for car insurance is not particularly expensive. The average car insurance policy costs anywhere from $56 per month for state-minimum coverage to $176 per month for full coverage, and individual car insurance rates vary depending on factors such as your driving record, age and location.
Average Cost of Car Insurance by Company
Company | Monthly Cost for Minimum Coverage | Monthly Cost for Full Coverage |
$42 | $139 | |
$48 | $177 | |
$52 | $166 | |
$54 | $168 | |
$57 | $199 | |
$73 | $229 | |
$76 | $218 |
Average monthly premiums reflect nationwide quotes for a 45-year-old driver with a clean driving record.
As you can see, $100 per month is inexpensive for full coverage from a major car insurance company, but it’s not the cheapest for state-minimum coverage.
To learn more, check out WalletHub’s guide to the cheapest car insurance companies.
This answer was last updated on 08/22/24 and it was first published on 04/07/22. For the most current information about a financial product, you should always check and confirm accuracy with the offering financial institution. Editorial and user-generated content is not provided, reviewed or endorsed by any company.
People also ask
How much is car insurance monthly?
Car insurance costs $60 per month, on average, for a minimum coverage policy, although individual rates might vary. Full coverage car insurance is more expensive because it also pays to repair or replace your car after it is damaged by a crash or something other than an accident, like vandalism.
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Can I get classic car insurance without a garage?
Yes, you can get classic car insurance without a garage, though finding an insurance company to cover your vehicle may be difficult, and you’ll still need a safe place to store the car. Instead of a garage, some companies may allow you to store your vehicle in a driveway, carport, barn, trailer, or storage unit, for example.
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How much should I pay for full coverage auto insurance?
You should pay between $1,100 and $4,500 per year for full coverage auto insurance, depending on your state. The average cost of full coverage insurance is about $1,997 per year, though the exact price depends on how much coverage you purchase, your characteristics as a driver, and your insurance provider. Since the cost of full coverage insurance varies between drivers and insurers, it’s best to get quotes from at least three different companies before purchasing a policy.
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