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Car Insurance Cost Calculator
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Apr, 18, 2024
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If you’re wondering how much car insurance costs in Arizona, MoneyGeek’s car insurance calculator can give you the information you need. By entering some personal information, you’ll be able to get an accurate estimate of how much you’ll have to pay for coverage.
MoneyGeek also analyzed how insurers calculate insurance premiums in Arizona. We determined which factors have the most impact on your rate to help you understand what influences your cost.
Arizona Car Insurance Calculator: How it Gets You an Instant, Free Estimate
In Arizona, it takes around 10 to 15 minutes to get a finalized quote from an insurer. MoneyGeek’s car insurance calculator gives drivers in Arizona a ballpark estimate in a shorter period. It calculates your annual or monthly premium using factors like your age, preferred coverage levels, driving record and vehicle type.
Our calculator determined that adding a teen driver, credit score and coverage level are the top factors affecting your car insurance rate. The factor with the most impact on you may vary depending on your unique profile.
Our car insurance calculator in Arizona shows that GEICO offers the most affordable, widely-available car insurance at $413 per year. The cheapest insurer for you may vary due to various factors, but it’ll give a close estimate.
Remember that beyond cost, you’ll want to keep quality service and your required coverages in mind when looking for an insurer.
To help you find the most affordable car insurance in Arizona, use MoneyGeek’s car insurance calculator or browse our list of sample drivers.
We’ve calculated the average cost of car insurance in Arizona so you can compare how it measures up to other states’ rates.
If cost isn’t your top priority, MoneyGeek found the best car insurance companies in Arizona that balance quality service with affordability.
How Car Insurance Premiums are Calculated in Arizona
Insurers consider various factors when determining car insurance premiums. The ones with the most considerable effect on your rate in Arizona include adding a teen driver to a family policy, credit score and coverage levels. Adding a teen driver is the biggest factor insurers consider and can cause your rate to increase by 3.4x.
How Much Adding a Teen Driver Matters in Calculating Car Insurance in Arizona
Insurers generally find teen drivers riskier to insure since they’re twice as likely as adults to get into an accident. If you only consider newly-licensed teen drivers, the probability of an accident becomes even higher. Immaturity, lack of skills and general inexperience behind the wheel contribute to these incidents.
If you add a teen driver to your policy, your rate could multiply by as much as 3.4x.
How Much Credit Score Matters in Calculating Car Insurance in Arizona
Car insurance companies use credit scores to determine how likely you are to file a claim. The lower your credit score, the more likely you are to file a claim.
In Arizona, drivers with excellent credit standing are more likely to get the cheapest premiums, while those with poor credit scores have the highest rates. Your credit score can multiply your rate by as much as 2.5x.
How Much Coverage Level Matters in Calculating Car Insurance in Arizona
The higher your coverage levels are, the more protection you have when driving. Unfortunately, it also translates to more expensive rates.
Your cheapest option for car insurance is a liability-only policy with state minimum limits, while the most expensive option is full coverage car insurance with increased liability limits and a $500 deductible. Your choice of coverage can multiply your rate by as much as 2x.
How Much Age of Driver Matters in Calculating Car Insurance in Arizona
Your age can multiply your premium by as much as 2.3x. Compared to young drivers and seniors, middle-aged drivers typically have lower premiums. This is because they are less likely to get into an accident.
In Arizona, drivers who are 19 or 20 years old have the highest premiums, while 40-year-old drivers pay the cheapest rates.
How Much Car Model Matters in Calculating Car Insurance in Arizona
The type of car you drive also impacts how much you pay for car insurance. Luxury vehicles, sports cars or electric cars will have higher premiums because they’re flashier and more expensive. Insurers consider how much repairs will cost or how much money they’ll have to shell out if it gets totaled.
Depending on your car model, your average premium in Arizona may increase by 2x.
How to Calculate How Much Car Insurance You Need in Arizona
If you know how to calculate how much car insurance you need in Arizona, you’ll have a better chance of balancing cost and coverage. The state only requires liability insurance for bodily injury and property damage. However, depending on your situation, you may want to increase your limits or include other types of insurance.
Understand Arizona car insurance requirements
Drivers in Arizona only need to have a policy that meets the minimum car insurance requirements to operate a vehicle. This protects you against expenses from bodily injuries up to $50,000 per accident, with a $25,000 cap per person. It also helps pay for property damage up to $15,000.
Remember that it doesn’t include comprehensive and collision insurance, which can help pay for repairs if your car is damaged.
Consider Purchasing Additional Liability Insurance
Medical bills or repair costs can be extensive, and a state minimum policy may not provide enough coverage. You may need to purchase additional liability insurance, which may increase your premium.
Your premium will cost $914 per year on average if you decide to have your liability limits be 100/300/100. This is almost double the amount of a policy with state minimum limits, which has an annual rate of $520.
Decide whether or not to buy comprehensive and collision insurance
Another thing to consider is whether you need full coverage insurance or not. Comprehensive and collision coverage may prove to be beneficial, especially if you’re financing your car or leasing it.
Take note that a full coverage car insurance policy with a $1,000 deductible will require you to pay an additional $308 per year. If your car is only worth a couple of thousand dollars, it may not be the best option.
Consider buying additional protection besides these core coverages
Lastly, see whether you need any additional coverage besides liability, comprehensive and collision insurance.
You can opt to add uninsured/underinsured motorist coverage, which can protect you against damage caused by an uninsured driver. Although insurance is mandatory in Arizona, 11.8% of drivers still don’t carry policies.
Another possibility is getting medical payments. It can help with your medical expenses if you or your passengers sustain injuries in a crash.
Frequently Asked Questions About How Car Insurance is Calculated in Arizona
Understanding how insurers calculate insurance premiums in Arizona is crucial. Here are the most frequently asked questions to provide more information.
An efficient way to get estimates in Arizona is using MoneyGeek’s car insurance calculator. The tool considers your age, car model, credit score and coverage levels.
MoneyGeeks’ study found that the top factors affecting car insurance premiums in Arizona are adding a teen driver to your policy, credit scores and preferred coverage levels.
If you want to calculate how much car insurance you need in Arizona, begin with the minimum requirements. You may choose to increase limits or purchase additional coverages afterward.
Methodology
MoneyGeek partnered with Quadrant Data Services to get car insurance quotes from across Arizona. Our data science team analyzed how personal factors impacted cost and incorporated our findings into our calculator to provide users with an accurate estimate of their expected yearly auto insurance costs. Read more about our methodology here.
About Mark Fitzpatrick
sources
- Consumer Reports. "The Secret Score Behind Your Rates." Accessed January 26, 2022.
- Kelley Blue Book. "9 Factors That Affect Car Insurance Rates in 2022." Accessed January 26, 2022.
- Science News for Students. "Here’s What Puts Teen Drivers at Greatest Risk of a Crash." Accessed January 26, 2022.