District Of Columbia Car Insurance Calculator: Estimate Your Car Insurance Costs
If you’re looking for an accurate car insurance price estimate from insurers in the District of Columbia, you would have to answer a variety of personal questions. MoneyGeek’s car insurance calculator can help you get a ballpark estimate for the cost of a car insurance policy.
Before getting a car insurance policy, it’s best to get an idea of your expected costs. MoneyGeek’s car insurance calculator can help you figure out roughly how much will you be paying for a policy in the District of Columbia.
We also analyzed how premiums are calculated for drivers who want to understand the factors that have the most effect on the cost of car insurance in the state.
District Of Columbia Car Insurance Calculator: Get an Instant, Free Estimate
MoneyGeek found that it takes around 10–15 minutes to get a car insurance quote in the District of Columbia. Drivers are required to enter a variety of personal information to get a quote. Our District of Columbia car insurance calculator can help you figure out your expected monthly and yearly car insurance costs based on age, vehicle type, coverage level and more.
MoneyGeek’s research shows that adding a teen driver to the policy, the age of the driver and their credit scores most significantly affect car insurance rates in the District of Columbia. However, the biggest factor for you may change depending on your profile.
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See how the Average Annual Auto Insurance Rates vary with the options chosen.
While the cheapest company for you may be different depending on several factors, MoneyGeek’s District of Columbia car insurance calculator can help you get a close estimate. With an average annual cost of $431, GEICO is the most affordable widely available option for our default driver.
However, the cost of a policy isn’t everything. You should also look over the service quality and the type of coverage before choosing a company.
MoneyGeek’s car insurance calculator can help you find the cheapest car insurance in the District of Columbia by providing an estimate for the cost of a policy.
MoneyGeek analyzed the average cost of car insurance in the District of Columbia to help you figure out the difference in expenses compared to other parts of the country.
MoneyGeek also researched the best car insurance companies in the District of Columbia for drivers looking for the best service quality paired with affordable policies.
How Car Insurance Premiums are Calculated in District Of Columbia
In the District of Columbia, insurers use various factors to determine how much you’ll pay for a car insurance policy. MoneyGeek found that adding a teen driver to the policy, the age of the driver and their credit scores most significantly affect car insurance rates in the district.
Our research shows that adding a teen driver to your policy can multiply your car insurance rates by around 3.1x.
How Much Adding a Teen Driver Matters in Calculating Car Insurance in District Of Columbia
Since teenagers are more likely to cause accidents and indulge in risky behavior, insurance companies consider them high-risk individuals and will charge higher rates if you add a teen driver to your policy. MoneyGeek found that adding a teen driver can increase your car insurance rates by 3.1x.
How Much Age of Driver Matters in Calculating Car Insurance in District Of Columbia
Younger drivers have less experience on the road than older adults who have been driving for a while. That’s why they are considered riskier to insure by insurance providers and given expensive car insurance quotes.
The driver’s age can increase the cost of car insurance by 2.3x in Washington, D.C.
How Much Credit Scores Matters in Calculating Car Insurance in District Of Columbia
Your credit scores have a significant impact on your car insurance costs. Usually, individuals with a low credit score are more likely to file a claim. Hence, insurance companies charge them higher rates.
If you have a low credit score in the District of Columbia, you should expect to pay around 2.1x more for a car insurance policy.
How Much Coverage Levels Matters in Calculating Car Insurance in District Of Columbia
The cost of a car insurance policy also depends on how much coverage you buy. If you purchase a policy that includes additional coverages like uninsured/underinsured motorist coverage and medical payments coverage, it will cost more.
MoneyGeek found that you would have to pay about 2x more if you buy a full coverage policy in the District of Columbia compared to a basic liability-only policy.
How Much Car Model Matters in Calculating Car Insurance in District Of Columbia
Insurance providers also consider your car model while determining your insurance rates. Certain models which are more likely to cause accidents, have higher repair costs and are more likely to be stolen are considered riskier to insure. If you own such a car, it could increase your car insurance costs by around 2x.
How to Calculate How Much Car Insurance You Need in District Of Columbia
In the District of Columbia, how much insurance you buy has a significant effect on your car insurance rates. It’s best to calculate the amount of coverage you need to find the right balance of cost and protection.
While District of Columbia law requires all drivers to have bodily injury liability, property damage liability and uninsured/underinsured motorist insurance. It may be preferable to buy a policy with comprehensive and collision insurance and higher liability limits, depending on your situation.
Understand District of Columbia car insurance requirements
To figure out the amount of coverage you need, you can look up District of Columbia minimum car insurance requirements. You’re required to have $25,000 of bodily injury liability per person, up to a total of $50,000 per accident, along with $10,000 of property damage liability per accident.
The district also requires $25,000 of uninsured/underinsured motorist injury liability coverage per person, up to $50,000 per accident, as well as $5,000 of uninsured/underinsured motorist property damage coverage. District law does not require you to have comprehensive and collision insurance.
Consider Purchasing Additional Liability Insurance
If you want protection against the cost of damages in case of a major accident, you may need to increase your liability limits. For example, if a policy in Washington, D.C., with $300,000 in bodily injury liability per accident costs an average of $787 per year, a state minimum liability-only policy costs just $632 on average.
Decide whether or not to buy comprehensive and collision insurance
It’s up to you to decide whether you need a full coverage policy which also includes comprehensive and collision insurance. While District of Columbia law doesn’t require it, the lender may require it if you’re leasing or financing the car. MoneyGeek found out that it costs an average of $346 per year to add comprehensive and collision insurance with a $1,000 deductible.
If you own a car that’s only worth a few thousand dollars, it may not be the best option to spend hundreds of dollars in monthly full coverage car insurance costs.
Consider buying additional protection besides these core coverages
In the District of Columbia, about 19.1% of drivers are uninsured. Having the district’s required uninsured/underinsured motorist coverage will protect you against the cost of damages if you get into an accident with a driver who doesn’t have sufficient coverage. If you want protection against the cost of medical expenses in a crash, you may also have to option of buying medical payments coverage.
Frequently Asked Questions About How Car Insurance is Calculated in District Of Columbia
For drivers wondering how to calculate car insurance premiums in the District of Columbia, MoneyGeek researched the answers to some frequently asked questions.
MoneyGeek partnered with Quadrant Data Services to get car insurance quotes from across the District of Columbia. Our data science team analyzed how personal factors impacted costs 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.
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