Car Insurance Quotes
Last Updated on July 23, 2020
No matter who you are, if you are planning to drive a vehicle in the United States, you need to have proper car insurance. Not only will it protect you and your family from expensive disasters on the road, but it is required by law! Car insurance not only will financially protect you from the perils of the road (collisions, theft, vandalism, natural disasters, etc.), but it will also protect other drivers on the road, thus limiting your liability. This is why having auto insurance is so important.
Yes, car insurance is a required expense for everybody who wants to drive in the United States. But, just because it is an expense does not mean it needs to be expensive. By getting car insurance quotes from multiple insurance companies, you can save money on this otherwise difficult-to-afford service.
This is where Insurance Panda comes in. We realize that shopping around on all of the insurance sites can be quite a tiring and time-consuming exercise. So, what we do for you is this – we consolidate all these quotes for you to simplify the whole process. Instead of running around, getting quotes from every insurance site and company on the internet, you can just come to us and get quotes from all of them here.
How Does Insurance Panda Work?
The Insurance Panda car insurance quote comparison tool will connect you to the top insurance providers in the United States. By entering your zip code at the top of this page, you will be brought to our brief questionnaire asking you about yourself and the vehicle you wish to insure. After filling out this simple two-page form, you will be given quotes from the top insurance providers.
It’s Really a Three-Step Process:
- Enter your zip code
- Fill out our brief two-page form
- Compare rates and choose the cheapest one
Watch This Video to Get a Better Idea:
It works like this – once you give us your basic information, we then send it right over to the insurance companies who will be fighting for your business. They will run their risk assessment calculations and shoot their quotes back to us. We will then present them to you so you can make your decision as to which company to go with.
As a consumer, this is really the most painless way to shop for auto insurance. Let us do all the heavy lifting for you and get the insurance companies scrambling for your business. Remember – when the competition is fierce, the consumer always gets the best price.
How Are Your Car Insurance Quotes Calculated?
As mentioned above, the Insurance Panda quote tool will calculate your insurance quote for you. But, how exactly are these insurance rates determined? Which factors can play a role in determining your auto insurance rates?
Here Are Some of the Major Factors that Can Determine Your Rates
Car insurance companies consider thousands of factors when calculating car insurance premiums. Here are some of the most important factors that go into your premiums:
Your Vehicle’s Value
Certain types of vehicles are more expensive to insure than others. A Maserati is generally more expensive to insure than a Honda Civic, for example. Your vehicle’s value can significantly raise your collision coverage and comprehensive coverage premiums: it costs more to repair a higher-end vehicle, and these costs get passed from the insurer to the policyholder.
Your Vehicle Type and Size
The size and type of your vehicle can impact your liability insurance premiums. Why? Well, certain cars can cause more damage than others. A Ford F-350 driving at 65mph can cause significant damage to anything it encounters, for example, while a Ford Fiesta will not.
Your Vehicle’s Safety Rating
Similar to the point above, your vehicle’s safety rating can also impact insurance premiums. Your insurer may be required to pay for medical bills after an accident. Your insurer may also need to cover any death benefits for you or your passengers. A vehicle with a good safety rating is less likely to leave passengers dead or seriously injured, which can reduce costs for insurers.
Your Vehicle’s Safety Features
Similar to the point above, vehicles with extensive safety features cost less to insure than vehicles without extensive safety features. If your vehicle has passenger and side airbags, for example, then you may pay lower insurance premiums.
Repair Costs
Certain vehicles are more expensive to repair than others. Popular models, including major domestic and important models, are the cheapest to repair. Repair shops have plenty of parts on-hand, and they have firsthand experience dealing with these types of vehicles. An exotic, less-popular vehicle is more expensive to repair. It may need to visit a specialty repair shop, for example. That means higher repair costs for your insurer and higher premiums for you.
Your State
Insurance laws in the United States are governed at the state level. Today, drivers in the most expensive states pay 2x to 3x as much for car insurance as drivers in the least expensive states. Certain states, including Maine, North Carolina, and Virginia, for example, are consistently among the cheapest states for car insurance, with drivers paying less than $600 per year on average. Other states, like Michigan, Louisiana, and Florida, are all some of the most expensive states for car insurance, with drivers paying over $1,200 per year. Why is there such a big difference? Some states use no-fault insurance systems. Others require higher or lower coverage limits. Some states have high rates of accidents, bad weather, or insurance fraud.
The following table shows the liability requirements and average insurance rates by state. The states with higher insurance requirements usually have higher average insurance rates. Note that the requirements are presented in a three-number format (i.e. 30/50/30). Using this format, 30/50/30 means that you are required to carry $30,000 bodily injury liability coverage (BIL) per person, $50,000 BIL per accident, and $30,000 in property damage liability coverage.
| State | Insurance Requirements | Average Annual Auto Insurance Rates |
|---|---|---|
| Alabama | 25/50/25 | $1,449 |
| Alaska | 50/100/25 | $1,533 |
| Arizona | 15/30/10 | $1,791 |
| Arkansas | 25/50/25 | $1,620 |
| California | 15/30/5 | $1,970 |
| Colorado | 25/50/15 | $1,741 |
| Connecticut | 25/50/20 | $1,690 |
| Delaware | 25/50/10 | $1,760 |
| Florida | 10/20/10 | $2,178 |
| Georgia | 25/50/25 | $1,873 |
| Hawaii | 20/40/10 | $1,295 |
| Idaho | 25/50/15 | $1,062 |
| Illinois | 25/50/20 | $1,531 |
| Indiana | 25/50/25 | $1,270 |
| Iowa | 20/40/15 | $1,123 |
| Kansas | 25/50/25 | $1,669 |
| Kentucky | 25/50/25 | $2,385 |
| Louisiana | 15/30/25 | $2,608 |
| Maine | 50/100/25 | $1,062 |
| Maryland | 30/60/15 | $1,842 |
| Massachusetts | 20/40/5 | $1,466 |
| Michigan | 20/40/10 | $3,466 |
| Minnesota | 30/60/10 | $1,620 |
| Mississippi | 25/50/25 | $1,681 |
| Missouri | 25/50/25 | $1,805 |
| Montana | 25/50/20 | $1,963 |
| Nebraska | 25/50/25 | $1,493 |
| Nevada | 25/50/20 | $2,486 |
| New Hampshire* | 25/50/25 | $1,070 |
| New Jersey | 15/30/5 | $2,000 |
| New Mexico | 25/50/10 | $1,480 |
| New York | 25/50/10 | $1,760 |
| North Carolina | 30/60/25 | $1,360 |
| North Dakota | 25/50/25 | $1,230 |
| Ohio | 25/50/25 | $1,030 |
| Oklahoma | 25/50/25 | $1,470 |
| Oregon | 25/50/20 | $1,330 |
| Pennsylvania | 15/30/5 | $1,270 |
| Rhode Island | 25/50/25 | $1,688 |
| South Carolina | 25/50/25 | $1,620 |
| South Dakota | 25/50/25 | $1,390 |
| Tennessee | 25/50/15 | $1,360 |
| Texas | 30/60/25 | $1,823 |
| Utah | 25/65/15 | $1,300 |
| Vermont | 25/50/10 | $1,294 |
| Virginia | 25/50/20 | $1,194 |
| Washington | 25/50/10 | $1,426 |
| West Virginia | 25/50/25 | $1,451 |
| Wisconsin | 25/50/10 | $1,049 |
| Wyoming | 25/50/20 | $1,684 |
| *Note that auto insurance isn't required in NH. If you do buy a policy, however, the minimum coverage you can buy is 25/50/25. | ||
Your ZIP Code
Certain ZIP codes have higher rates of break-ins and vandalism than other neighborhoods. Some ZIP codes have high accident rates or fatality rates. Your ZIP code plays a significant role in calculating insurance premiums.
Where You Park Your Car at Night
Where do you park your car at night? Is it stored in a locked garage? Or is it parked on a street? Many insurance companies offer discounts based on your vehicle’s parking location.
Your Coverage
Do you want the bare minimum liability coverage that lets you legally drive on the road? Or do you want full coverage with high limits? Most states only require you to have property damage and bodily injury liability coverage. Many drivers, however, opt for full coverage car insurance, which includes liability coverage along with collision and comprehensive coverage. Adding collision and comprehensive coverage can cause rates to double or triple.
Your Driving Record
A driver with a long history of safe driving will pay less for car insurance than a driver with two at-fault claims in the last five years. Insurers check your driving history to determine your risk as a driver. Generally, your driving history only goes back five to seven years. However, more severe violations – like DUIs or reckless driving citations – may go back ten years. The more speeding tickets, citations, accidents, and claims you have on your record, the more you’ll pay for car insurance.
Your Credit Score
Yes, your credit score impacts car insurance premiums. Insurers use something called your credit-based insurance score to assess your insurance premiums. Drivers with a higher (better) credit score will always pay less for car insurance than drivers with a lower (worse) credit score, all other things being equal.
Discounts
Some drivers qualify for an extensive range of discounts, while others won’t qualify for any. Homeowners can enjoy bundling discounts, for example, and students can earn good grade discounts. Most insurance companies offer dozens of discounts, so check with your insurer to see if you qualify.
Your Age
It’s no secret that younger drivers pay higher rates for car insurance. Drivers in their teens pay, on average, around $3,500 per year for car insurance. As you get older and gain more experience, car insurance premiums gradually drop. You’ll pay your lowest insurance rates between ages 30 and 70, assuming you maintain a clean record. As you move into your 70s and 80s, however, insurance premiums may start to slightly rise.
Marital Status
Married drivers pay less for car insurance than single drivers, especially at a younger age. Statistics show that married drivers are less likely to make a claim, which makes them less risky to insure.
Homeowner Status
Renters generally pay higher insurance premiums than homeowners. with most insurers, this difference isn’t significant (about $30 to $50 per year). However, homeowners can also take advantage of homeowners’ insurance bundling opportunities to save even more money.
Education
Statistics show that drivers with post-secondary degrees are less likely to make a claim. They’re safer drivers who are less risky to insure. The more education you have, the more you’ll save. A driver with a high school diploma will pay less than a driver without one, for example. Rates continue dropping as you get a bachelor’s degree, master’s degree, and PhD.
Telematics and Driver Tracking Systems
Today, most major insurance companies in America offer some type of driver tracking or ‘telematics’ system. If you agree to use this system, the insurance company could drop rates as much as 25% based on your safe driving habits. You install a tracking device in your vehicle that analyzes your mileage, driving times, braking and acceleration, and more. Based on this data, the insurance company will charge customized premiums.
Violations
Speeding tickets, DUIs, and other incidents will significantly impact insurance premiums. A single DUI, for example, could raise insurance premiums as much as 50%, and DUIs remain on your record for up to ten years. Less serious violations, like speeding tickets, may also impact premiums, although not as much.
Annual Mileage
The average American drives approximately 10,000 miles per year (although this figure varies by region). Insurance companies will assume you drive the average number of miles per year and will charge you based on that number. However, some people are retired or work from home. Others bike or walk to work. In this case, your annual mileage may be significantly less than the average.
Driving Times
Some people only drive outside of rush hour. If you work from home, for example, then you might prefer to shop during the day and get out on weekends. You avoid the 9 to 5 rush hour chaos. This significantly lowers your risk of making a claim. Insurance companies may consider this information when calculating insurance premiums.
To learn more about how to save on your insurance and which factors have an effect on your insurance rates, explore the insurance guide at InsurancePanda.com. We will equip you with all the tools you need to make an informed decision about your auto insurance coverage.
Are You Ready to Save on Your Auto Insurance Premiums?
Let Insurance Panda work for you. Click “Get a quote now” below or scroll back up to the top of this page and enter your zip code to begin. Our quote comparison tool is quick and straightforward. Remember – with Insurance Panda, insurance has never been so black and white.
