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Why You Can Trust the MarketWatch Guides Team
Here’s a breakdown of how we reviewed and rated the top auto insurance providers
130
Providers ReviewedOur team looked at over 100 of the top auto insurance providers in the U.S., from national providers like USAA, Travelers and State Farm to regional providers like Erie Insurance.
8,500
Data Points AnalyzedTo properly score each auto insurance provider, we looked at cost data, claims processes, customer review scores, industry standing, available discounts, coverages and add-ons.
800
Research HoursOur team put in the time so you don’t have to, evaluating cost data, reading customer reviews and researching companies to determine the most reliable options for coverage.
12,500
Customers SurveyedWe asked thousands of customers to describe their experience with their auto insurance provider to understand how real customers feel about their insurers.
Learn more about our methodology and editorial guidelines.
Most Expensive Car Insurance: Providers, States and Cars
We analyzed cost data from Quadrant Information Services to find car insurance providers’ average rates. In the sections below, we’ll examine the most expensive providers for liability and full-coverage insurance, the most expensive states for auto insurance and the cars that cost the most to insure.
The average rates below are based on the driving profile of a married 35-year-old with a clean driving record and good credit.
10 Most Expensive Liability Car Insurance Providers
Based on our data, we found Key Insurance Co. and The Hanover Insurance Group typically offer the most expensive liability car insurance on average. Key Insurance Co. charges an average of $272 per month or $3,261 per year, while The Hanover Insurance Group liability coverage costs an average of $183 per month or $2,196 per year.
Our review team reached out to Key Insurance Co. and The Hanover Insurance Group for comment on the average cost of their insurance coverage but did not receive responses.
The national average for liability coverage is $52 per month or $627 per year.
Insurance Provider | Average Monthly Cost | Average Annual Cost |
---|---|---|
Key Insurance Co. | $272 | $3,261 |
The Hanover Ins Grp | $183 | $2,196 |
United Automobile Insurance Co. | $176 | $2,109 |
Sentry Insurance | $120 | $1,439 |
Amica | $103 | $1,234 |
American International Group | $97 | $1,162 |
Farmers Insurane | $96 | $1,153 |
Mercury General | $96 | $1,153 |
CSAA | $96 | $1,149 |
Selective Insurance | $94 | $1,130 |
Chubb | $88 | $1,059 |
10 Most Expensive Full-Coverage Car Insurance Providers
According to our estimates, The Hanover Insurance Group and American International offer the most expensive full coverage on average. The average cost of full coverage from The Hanover Insurance Group is $609 per month or $7,302 per year, while American International’s full-coverage policies average $322 per month or $3,862 per year.
Both companies tend to be quite a bit more expensive than the national average for full coverage, which is $167 per month or $2,008 per year.
Insurance Provider | Average Monthly Cost | Average Annual Cost |
---|---|---|
The Hanover Insurance Group | $609 | $7,302 |
American International | $322 | $3,862 |
United Automobile Insurance Co. | $320 | $3,835 |
CSAA | $309 | $3,709 |
Home State Insurance Group | $307 | $3,687 |
Safe Auto Insurance | $298 | $3,576 |
Key Insurance Co. | $295 | $3,534 |
Encova Mutual | $277 | $3,322 |
Sentry Insurance | $265 | $3,184 |
Alfa Insurance | $265 | $3,179 |
Most Expensive Insurance by State
In researching the states with the most expensive car insurance, we determined that Michigan and Connecticut topped the list for both liability and full-coverage insurance.
10 Most Expensive States for Liability Insurance
In Florida, liability insurance costs an average $115 per month or $1,385 per year. In Michigan, a liability insurance policy costs an average of $113 per month or $1,360 per year.
State | Average Monthly Cost | Average Annual Cost |
---|---|---|
Florida | $115 | $1,385 |
Michigan | $113 | $1,360 |
New Jersey | $111 | $1,332 |
Nevada | $107 | $1,283 |
Delaware | $99 | $1,194 |
Rhode Island | $86 | $1,036 |
Connecticut | $82 | $980 |
Oregon | $79 | $953 |
Louisiana | $77 | $925 |
Maryland | $75 | $901 |
10 Most Expensive States for Full-Coverage Insurance
Michigan and Florida are also the most expensive states for full-coverage insurance on average. In Michigan, a full-coverage policy costs an average of $304 per month or $3,643 per year, while full-coverage insurance in Florida averages $270 per month or $3,244 per year.
State | Average Monthly Cost | Average Annual Cost |
---|---|---|
Michigan | $304 | $3,643 |
Florida | $270 | $3,244 |
Louisiana | $253 | $3,040 |
Delaware | $240 | $2,881 |
Nevada | $232 | $2,788 |
Kentucky | $210 | $2,522 |
New Jersey | $209 | $2,513 |
Massachusetts | $202 | $2,430 |
Rhode Island | $196 | $2,357 |
California | $193 | $2,313 |
Most Expensive Cars To Insure by Make and Model
Sports cars and high-end luxury vehicles are generally more expensive to insure. These cars have much higher repair costs, so insurance companies see them as higher risks.
10 Most Expensive Cars To Insure by Model
Our research on average insurance rates for 60 popular models found that the Dodge Charger tended to be the most expensive 2022 model to insure. The average cost for a full-coverage insurance policy on a Dodge Charger is $354 per month or $4,242 per year.
Our review team reached out to Dodge and Tesla for comment on the average costs to insure their vehicles but did not receive responses.
Vehicle | Average Monthly Cost | Average Annual Cost |
---|---|---|
Dodge Charger | $354 | $4,242 |
Tesla Model 3 | $267 | $3,209 |
Tesla Model Y | $234 | $2,804 |
BMW X3 | $195 | $2,337 |
Lexus RX | $189 | $2,273 |
Nissan Altima | $189 | $2,263 |
GMC Sierra | $188 | $2,261 |
Chevrolet Silverado | $183 | $2,200 |
Ford Expedition | $182 | $2,181 |
Hyundai Sonata | $182 | $2,179 |
17 Most Expensive Cars To Insure by Automaker
Our analysis showed that, on average, Dodge and Tesla have the most expensive car insurance among 17 popular brands. Full coverage on Dodge vehicles costs an average of $354 per month or $4,242 per year, while full coverage on a Tesla vehicle averages to $251 per month or $3,007 per year.
Model | Average Monthly Cost | Average Annual Cost |
---|---|---|
Dodge | $354 | $4,242 |
Tesla | $251 | $3,007 |
BMW | $195 | $2,337 |
Lexus | $189 | $2,273 |
GMC | $184 | $2,207 |
Ram | $175 | $2,101 |
Nissan | $167 | $2,004 |
Hyundai | $164 | $1,973 |
Kia | $164 | $1,968 |
Toyota | $164 | $1,964 |
Ford | $162 | $1,949 |
Chevrolet | $162 | $1,940 |
Honda | $156 | $1,869 |
Jeep | $153 | $1,833 |
Subaru | $146 | $1,752 |
Volkswagen | $142 | $1,707 |
Mazda | $138 | $1,658 |
*Based off 2022 cost data
Factors That Affect Car Insurance Costs
When calculating car insurance quotes, insurance agents weigh several factors.
These are the factors that affect your car insurance rates:
- Location: Auto insurance premiums tend to be higher in areas with high rates of car accidents or crimes like vandalism and theft.
- Age: Younger drivers typically pay higher rates than older, more experienced drivers.
- Driving record: Motorists who have clean driving histories usually pay less for coverage than drivers with recent speeding tickets, traffic violations or DUIs.
- Credit history: Insurance providers view drivers with low credit scores as higher risks, so they often pay higher insurance premiums in most states.
- Gender: The average car insurance cost for men is generally higher in most states because men tend to get into more car accidents than women.
- Marital status: Single drivers have a harder time finding low-cost auto insurance than married drivers.
- Type of vehicle: New cars tend to cost more to insure because repairing them is more expensive. The same goes for high-end vehicles like Porsches and Audis.
Most Expensive Car Insurance: The Bottom Line
According to our rate averages, the most expensive car insurance often comes from The Hanover Insurance Group. The company’s average rates for both liability and full-coverage insurance can be more than 400% higher than the national average.
On average, Michigan and Florida are the most expensive states for both liability and full coverage. Our research on average rates found that Dodge tends to be the automaker with the most expensive coverage and that the Dodge Charger has the most expensive car insurance of any model.
Top Auto Insurance Recommendations
If you want to avoid higher premiums, we suggest getting quotes from Geico and Erie Insurance. Both providers’ average rates are lower than the national averages for liability and full coverage.
Geico: Best for Budget-Conscious Drivers
Geico Overview
Geico is one of the most popular insurance companies in the country, and its average car insurance premiums are 24% cheaper than the national average. That’s on top of a long list of savings opportunities that includes discounts for good students, good drivers and federal employees. Geico also has an A++ financial strength rating from AM Best, which means it’s in solid standing to pay out insurance claims for policyholders.
Read more: Geico insurance reviews
Erie Insurance: Best for Basic Insurance Coverage
Overview
Erie Insurance is only available to drivers in 12 states on the East Coast and in the Midwest and in Washington, D.C., but it has a strong reputation in the insurance industry. The company is known for its low rates and strong customer service, offering the six standard types of insurance as well as several optional add-on coverages. Erie also holds an A+ financial strength rating from AM Best and an A+ from the Better Business Bureau.
Read more: Erie Insurance reviews
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Most Expensive Car Insurance: FAQ
Below are frequently asked questions about the most expensive car insurance.
We found that full-coverage car insurance is the most expensive for high-end luxury or sports cars. According to our data, the Dodge Charger is the most expensive car to insure, costing an average of $354 per month or $4,242 per year for full-coverage car insurance. Full coverage generally includes liability insurance, collision and comprehensive coverage and either MedPay or personal injury protection (PIP insurance).
People in these groups usually pay the highest car insurance rates:
- Drivers in their teens and early 20s
- Drivers who have poor credit
- Drivers with multiple speeding tickets, accidents or DUIs on their records
Car insurance companies consider drivers with these profiles more likely to get into accidents, file claims or not pay their premiums on time. To offset this financial risk, insurers charge these motorists higher rates.
Yes, BMW vehicles are among the most expensive cars to insure. Full-coverage insurance for a BMW costs an average of $195 per month or $2,337 per year. That makes it the third most expensive brand to insure, according to our research.**
Yes, luxury cars are more expensive to insure because they are worth more than standard cars and cost a lot more to repair. You can expect to pay a much higher average annual premium if you have a luxury vehicle.
Our Methodology
Because consumers rely on us to provide objective and accurate information, we created a comprehensive rating system to formulate our rankings of the best car insurance companies. We collected data on dozens of auto insurance providers to grade the companies on a wide range of ranking factors. The end result was an overall rating for each provider, with the insurers that scored the most points topping the list.
Here are the factors our ratings take into account:
- Cost: Auto insurance rate estimates generated by Quadrant Information Services and discount opportunities were both taken into consideration.
- Coverage: Companies that offer a variety of choices for insurance coverage are more likely to meet consumer needs.
- Reputation and experience: Our research team considered market share, ratings from industry experts and years in business when giving this score.
- Availability: Auto insurance companies with greater state availability and few eligibility requirements scored highest in this category.
- Customer experience: This score is based on volume of complaints reported by the NAIC and customer satisfaction ratings reported by J.D. Power. We also considered the responsiveness, friendliness and helpfulness of each insurance company’s customer service team based on our own shopper analysis.
Our credentials:
- 800 hours researched
- 45 companies reviewed
- 8,500+ consumers surveyed
*Data accurate at time of publication.
If you have feedback or questions about this article, please email the MarketWatch Guides team at [email protected].