Insurance premium calculation predicts risk based on your history and personal factors. To calculate monthly payments, insurers use statistical models that analyze everything from your driving record to your credit score to estimate how likely you are to file a claim. Since each insurer has a unique formula and state laws can limit which factors are used, quotes for the same driver vary significantly for identical coverage.
Car Insurance Calculator
Updated: May 9, 2025
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$192
High
$139
Average
$87
Low
Rates updated:
Jun 06, 2025
| Insurance Carrier | MoneyGeek ScoreMG Score | Average Monthly Payment | |
|---|---|---|---|
| 1 |  Capital Insurance Group | 94 /of 100 | $87 |
| 2 |  GEICO | 82 /of 100 | $109 |
| 3 | 83 /of 100 | $118 | |
| 4 | 83 /of 100 | $129 | |
| 5 | 79 /of 100 | $133 | |
| 6 | 77 /of 100 | $151 |
Although MoneyGeek partners with some of the companies we recommend, our content is written and reviewed by an independent team of writers, editors and licensed agents. Learn more about our editorial policies and expert editorial team.
Calculating Car Insurance: Key Takeaways
MoneyGeek's car insurance calculator is easy to use. To get personalized estimates, provide your ZIP code, age, vehicle details, credit score and preferred coverage level.
Our car insurance cost estimates range from $20 to $457 monthly across 30 national and regional providers.
Car insurance rates depend on your provider, age, location, vehicle, coverage level, driving record and other factors like occupation.
How to Use Our Car Insurance Premium Calculator
Get your estimate in just 30 seconds without sharing personal contact information. Here's how:
- 1
Enter driver and vehicle information
Provide your ZIP code, age, gender, vehicle details, credit score range and driving history. Only minimal personal contact information is required.
Pro tip: Compare multiple vehicles before buying, as insurance costs vary significantly between similar models.
- 2
Choose coverage options
Select from basic, standard, recommended or premium coverage levels and adjust your deductible.
Pro tip: Raising your deductible from $500 to $1,000 could save 10% to 15%, but make sure you can cover this amount if needed.
- 3
Compare insurance providers
View personalized rates from multiple insurers side-by-side to find the best values.
Pro tip: Companies weigh risk factors differently, so comparing at least five to seven insurers often reveals surprising price differences.
- 4
Explore discounts
Test how bundling policies, paying annually or qualifying for safe driver discounts affects your rates.
Pro tip: Multi-policy discounts can save 5% to 25%, while paying annually instead of monthly typically saves 5% to 10%.
- 5
Prepare for official quotes
After identifying promising options, contact those insurers directly with your driver's license number and vehicle VIN.
Pro tip: Reference your calculator estimates when speaking with agents as a starting point for negotiation.
How Car Insurance Is Calculated
Car Insurance Pricing Factors
Multiple factors determine your car insurance premium, with some having more impact than others. Understanding these variables helps you make informed decisions when shopping for coverage.
1. Insurance Provider (Highest Impact)
Your choice of insurance company has the largest impact on what you'll pay. Research shows rates can vary by as much as 463% for identical coverage. This means the same driver with the same car could pay more than five times as much, depending solely on their chosen insurer.
Provider rates vary significantly due to:
Local vs. national presence
Smaller regional insurers often have lower operating costs and more targeted risk assessment models for their specific market, resulting in lower premiums than nationwide carriers.
Coverage specialization
Insurers with specialized policies, such as pay-per-mile or usage-based insurance, can offer much lower rates for low-mileage drivers, remote workers or those with specific driving patterns.
Discount programs
Each company develops unique discount structures based on their claims experience and customer retention strategies. These discounts can reduce premiums by 5% to 40% and vary widely across insurers.
2. Age and Gender (Second Highest Impact)
Premiums vary by up to 385% based on age alone. Rates typically follow a U-shaped curve and are highest for drivers under 25, lowest for middle-aged drivers (30 to 60), then gradually increase for seniors over 70.
In most states, gender also affects rates, with male drivers (especially younger ones) typically paying more than females due to statistical risk differences.
Teen drivers pay more
Teens pay much more due to inexperience and higher risk-taking behaviors. They're nearly three times more likely to be involved in fatal crashes, resulting in premiums of up to $7,200 annually compared to $1,600 for a 40-year-old with identical coverage.
When rates decrease
Rates decrease most dramatically during one's 20s. The biggest premium drop (about 14%) occurs between ages 24 and 25, when most drivers have established longer driving records.
Middle-aged and senior drivers pay the lowest rates
The lowest rates typically occur between 50 and 65, when drivers combine decades of experience with still-sharp reflexes and good health. After 70, premiums begin to increase gradually.
Combined gender and age effects
Male drivers under 25 face higher rates than females due to statistically higher accident frequencies and severity. Young males are twice as likely to have fatal crashes and file larger claims, though seven states now ban gender-based pricing.
3. Location (Third Highest Impact)
Where you live significantly impacts premiums, with rates varying by state and neighborhood. Location can affect your costs by up to 214%, meaning drivers in high-risk areas might pay more than triple what those in low-risk locations pay.
Urban vs. rural
City dwellers face higher rates due to increased traffic density, accident frequency, theft probability and vandalism. Urban drivers file 40% more claims than their rural counterparts.
Territory rating
Insurance companies divide regions into rating territories based on claim frequency, severity and litigation environments. Even moving a few miles between neighboring ZIP codes can significantly impact rates.
State regulations
Each state establishes unique insurance requirements and regulatory frameworks. Some states prohibit rating factors like credit scores or gender, forcing insurers to adjust their pricing models.
Local factors
Everything from weather patterns to road quality impacts insurance costs. Areas with frequent hailstorms, flooding or poor infrastructure typically see higher comprehensive claims. Regions with high medical costs or litigation rates drive up liability premiums.
4. Vehicle Make and Model (Fourth Highest Impact)
Luxury vehicles have higher premiums mainly because of costly replacement parts, special repair needs and higher theft rates. Claims often cost two to three times more than average vehicles when damaged.
Luxury cars
Luxury vehicles have higher premiums primarily due to expensive replacement parts, specialized repair requirements and higher theft rates. When damaged, claims often cost two to three times more than average vehicles.
Reliability and repair costs
Vehicles with expensive parts or complex systems cost more to insure.
Sports cars
Sports cars increase risk profiles through higher performance capabilities and statistical correlations with faster driving behaviors. These vehicles are involved in more severe accidents and typically driven by owners who file claims more frequently.
Vehicle age
Vehicle age influences premiums as newer vehicles have higher replacement values but better safety features. Depreciation typically reduces collision and comprehensive premiums by 10% to 15% after the first year and continues declining through year five.
Safety features
Safety features impact rates differently depending on their effectiveness and repair costs. While traditional safety equipment like airbags provide modest discounts, advanced technologies with expensive sensors may actually increase premiums despite reducing accident severity.
5. Credit History (Fifth Highest Impact)
In most states, insurance companies use credit score as a rating factor. Studies have shown a correlation between credit scores and claim frequency, with lower scores associated with more frequent claims. Improving your credit score can significantly reduce your premiums in states where this practice is allowed.
6. Coverage Choices (Sixth Highest Impact)
The protection levels you choose directly affect premiums, with rates varying by up to 153% between minimum and maximum coverage. Liability-only policies cost much less than full coverage with comprehensive and collision protection.
Your deductible also significantly impacts your premium. Higher deductibles mean lower premiums but more out-of-pocket expenses if you file a claim.
Liability vs. Full Coverage Cost
Minimum Liability
Annual Rate
$628Full Coverage
Annual Rate
$1,358Difference::$730 more
This is 116% more expensive.
7. Driving Record (Seventh Highest Impact)
Your driving history significantly affects your rates. Accidents, moving violations and severe offenses like DUIs can increase your premiums, with rates varying by up to 61% based on these factors.
Drivers with violations, accidents, DUIs or coverage lapses pay much more than those with clean records. Most violations remain on your record for three to five years, while serious offenses like DUIs can affect rates for up to 10 years.
Additional Factors That Affect Car Insurance Rates
Other factors that impact car insurance rates include:
- Annual mileage: Drivers with fewer miles on their vehicles generally pay less.
- Continuous coverage history: Maintaining uninterrupted insurance prevents rate increases due to lapses.
- Marital status: Married drivers often receive lower rates than single drivers.
- Occupation: Some professions are associated with lower risk and may qualify for discounts.
- Education level: Higher education levels are sometimes correlated with lower premiums.
- Multi-policy discounts: Bundling auto with home or other insurance policies typically reduces rates.
How Much Should I Pay for Car Insurance per Month?
What you pay for car insurance depends on several factors. On average, U.S. drivers pay $113 monthly for full coverage and $52 monthly for minimum liability coverage. Shoppers can find rates as low as $97 monthly for full coverage and $45 monthly for minimum coverage.
Car Insurance Estimates
To help you determine how much you can expect to pay each month for coverage, we provide estimates based on the major factors that insurance companies use to calculate premiums.
GETTING CAR INSURANCE ESTIMATES
Since car insurance calculations vary widely by company for the same driver and coverage, the best way to find out how much you should pay is to get estimates from multiple providers.
Car Insurance Estimates by Provider
Due to differences in rating factors, drivers insured with Dairyland can pay up to $240 more per month than those with identical profiles insured by North Carolina Farm Bureau.
Company | Lowest or Highest Average Rate | Average Monthly Full Coverage Rate |
|---|---|---|
North Carolina Farm Bureau | Lowest | $44 |
Dairyland | Highest | $284 |
*Rates are for a 40-year-old driver with good credit and no driving violations insuring a 2012 Toyota Camry.
Car Insurance Estimates by Age and Gender
Due to differences in driving experience and accident rates, 55-year-old drivers can pay up to $363 less per month than 16-year-old drivers for the same coverage.
Age | Lowest or Highest Average Rate | Average Monthly Full Coverage Rate |
|---|---|---|
55 | Lowest | $94 |
16 | Highest | $457 |
Car Insurance Estimates by Location
Because of factors like traffic conditions, accident frequencies and state regulations, New York drivers can pay up to $142 more per month than those in New Hampshire.
State | Lowest or Highest Average Rate | Average Monthly Full Coverage Rate |
|---|---|---|
New Hampshire | Lowest | $67 |
New York | Highest | $209 |
*Rates are for a 40-year-old driver with good credit and no driving violations insuring a 2012 Toyota Camry.
Search and click below to learn about car insurance costs in your state, how companies calculate auto insurance rates where you live and how to get estimates.
Car Insurance Estimates by Vehicle's Make and Model
Due to differences in repair costs, safety features and theft rates, drivers of luxury vehicles like the Porsche Taycan can pay up to $188 more per month than those driving family minivans like the Honda Odyssey.
Model | Lowest or Highest Average Rate | Average Monthly Full Coverage Rate |
|---|---|---|
2009 Honda Odyssey | Lowest | $91 |
2022 Porsche Taycan | Highest | $279 |
*Rates are for a 40-year-old driver with good credit and no driving violations.
Explore how your vehicle affects your premium, find competitive rates and consider a cheaper car to insure if you're shopping around.
Car Insurance Estimates by Coverage
While greater protection increases costs, choosing maximum coverage (300/500/300 liability with $500 deductibles) instead of minimum state-required coverage results in an average monthly difference of $81.
Coverage Type | Lowest or Highest Average Rate | Average Monthly Rate |
|---|---|---|
Minimum | Lowest | $52 |
Maximum | Highest | $133 |
*Rates are for a 40-year-old driver with good credit and no driving violations insuring a 2012 Toyota Camry. Maximum coverage refers to a 300/500/300 limit of liability coverage and a $500 deductible for comprehensive and collision insurance.
These policies make up full coverage. Consider add-on coverages and nontraditional options. Learn about different coverage types and estimates to guide your decision.
Car Insurance Estimates for High-Risk Drivers
A poor credit score can significantly impact your insurance costs. Drivers with low credit scores pay about $78 more monthly than those with similar driving records but brief coverage lapses.
High-Risk Behavior or Quality | Lowest or Highest Average Rate | Average Monthly Full Coverage Rate |
|---|---|---|
Coverage lapse under 30 days | Lowest | $127 |
Poor credit score | Highest | $205 |
*Car insurance lapse rates are for a 40-year-old driver with good credit and no driving violations insuring a 2012 Toyota Camry. DUI rates are for a 40-year-old driver with good credit insuring a 2012 Camry.
Click below to see estimated rates for high-risk drivers and find ways to make coverage more affordable:
DRIVING OFFENSES DON'T AFFECT RATES FOREVER
Less serious offenses typically remain for up to five years, while more serious ones, like DUIs, can last up to 10 years. However, this varies by provider.
Car Insurance Estimates for Other Driver Profiles
Factors like your job can lower rates with certain providers that offer discounts, but these have less impact. Your citizenship and marital status can also affect your insurance costs.
Click below to see how different occupations and driver situations impact insurance costs and get estimates for your profile.
Using Online Estimates to Find Cheaper Monthly Premiums
Follow these steps to save with our online car insurance calculator:
- 1
Determine your coverage needs first
Before getting estimates, assess how much protection you need based on your assets, driving habits and risk tolerance. Use coverage calculators to find the right balance without buying unnecessary coverage.
- 2
Research average costs for your profile
Understanding what drivers similar to you typically pay provides a baseline for comparison. Learn about average costs for your age group, location and vehicle type to determine if quotes are competitive.
- 3
Use car insurance calculators for personalized estimates
Enter your ZIP code, age, gender, vehicle details, credit score range and driving history to get instant estimates without sharing personal contact information. Compare rates from multiple insurers to identify the best values for your situation.
- 4
Compare at least five to seven insurers
Rates can vary by hundreds of dollars for identical coverage. Explore multiple providers through calculators, then use these estimates when negotiating with agents. For the best deal, gather quotes through different channels (direct, comparison sites and brokers).
- 5
Optimize coverage levels and deductibles
Test different coverage combinations and deductible amounts. Raising your deductible from $500 to $1,000 could save 10% to 15%, while finding the right coverage balance protects you without overpaying.
- 6
Bundle policies and pay strategically
See savings of 5% to 25% when combining auto with home or renters insurance. Calculate annual versus monthly costs, as paying the entire term upfront saves another 5% to 10%.
- 7
Improve your credit score and driving record
Better credit can reduce rates by up to 25% in most states. Similarly, avoiding tickets and accidents qualifies you for up to 20% safe driver discounts.
- 8
Maximize discounts
Many insurers offer discounts for good students, military service, professional organizations, safety features, anti-theft devices and defensive driving courses. Drivers can typically save 10% to 25% through various discount programs.
- 9
Consider specialized insurance options
If you drive less than average, usage-based or pay-per-mile insurance can save 30% or more. Consider dropping comprehensive and collision coverage for older vehicles worth less than 10 times your annual premium.
- 10
Compare vehicles before buying and maintain continuous coverage
Insurance costs vary dramatically between similar models, so research insurance rates before purchasing a new vehicle. Also, avoid coverage lapses, which can raise rates by 10% to 20%.
Car Insurance Coverage Calculator (Bonus)
Use our car insurance needs calculator to determine your ideal coverage level based on your profile. It's quick and easy to find the right insurance for you.
Determine How Much Car Insurance You Need
Take our four-step quiz to learn the required and optimal level of car insurance for you.
Enter Your ZIP Code
Please enter a valid US ZIP Code
Car Insurance Coverage Types
To help our car insurance calculator determine how much coverage you need, the table below describes all major car insurance coverage types:
Car Insurance Coverage Type | What It Covers | Do You Need It? |
|---|---|---|
Minimum | Injury and property damage to others if you cause an accident | Required in most states, but requirements vary |
Collision | Repairs to your car after an accident, regardless of fault | Required if you lease or finance your car. Useful for newer or high-value vehicles with high repair costs. |
Comprehensive | Noncollision damage, including theft, vandalism, fire and natural disasters | Required for leased and financed vehicles only. Consider it if you live in an area with high crime rates, park on the street or live in a region with extreme weather. |
Personal injury protection (PIP) | Medical expenses and sometimes lost wages for you and passengers, regardless of fault | Often required in no-fault states. Helpful if you lack good health insurance, as it covers medical bills even if you're at fault. |
Medical payments (MedPay) | Medical expenses for you and your passengers, regardless of fault | Affordable and optional but useful if your health insurance is limited |
Uninsured/Underinsured motorist coverage | Costs if an uninsured or underinsured driver causes an accident | Highly recommended, especially in states with many uninsured drivers |
Non-owner | Drivers who don’t own a car but drive other people’s vehicles | Useful if you frequently borrow or rent cars, but not required |
Roadside assistance | Services like towing, battery jump-starts and flat tire changes | Convenient if you drive long distances or commute daily |
New car replacement | Replaces your new car with a brand-new model if it’s totaled, typically within the first few years | Optional and great for new car owners who want extra protection |
Rental car reimbursement | Rental car while your vehicle is being repaired after an accident | Helpful if you rely on your car daily |
Accident forgiveness | Prevents your premium from increasing after your first at-fault accident | Ideal if you’re concerned about rate hikes |
Pay-per-mile | Same as a standard policy, but rates are primarily based on mileage driven | A cheaper option than standard policies if you drive much less than average |
Auto Insurance Calculator: Bottom Line
MoneyGeek’s car insurance estimator helps you calculate premiums based on location, vehicle type, driving record and coverage preferences. Before using the tool, determine your coverage level and conduct cost research.
When getting quotes, compare prices from multiple providers, use various methods to gather them and ask about discounts. Follow these steps to make informed choices and save money on auto insurance.
Car Insurance Estimate: FAQ
Here are answers to common questions about using a car insurance calculator and estimating your premium.
What do you need to get a car insurance cost estimate?
To get a car insurance cost estimate, provide your age, home address, email address, vehicle information (year, make and model) and coverage level.
What are the cheapest car insurance companies?
While the cheapest car insurance company varies for each person, we've compiled data on top providers to offer recommendations in your area.
What is a good monthly payment for car insurance?
Based on our information, a reasonable rate for car insurance is generally around $1,600 to $1,800 per year (about $133 to $150 monthly) for full coverage. The national average for minimum coverage is lower, around $750 to $850 yearly ($60 to $70 monthly). Young drivers, people with bad credit, or those with tickets or accidents typically pay more than these averages.
What are the best car insurance companies?
The best car insurance companies offer the coverage you need at a price you can afford. Consider customer experience, company reviews, how they handle claims and discount offerings when researching companies.
Where can I get a car insurance quote after I have an estimate?
Reading our reviews can help you find companies that offer the coverage you need at the right price. Use our calculator to estimate your costs and create a list of potential providers. Then, contact your top three insurers for quotes and compare them to find the best deal.
How can I get cheap car insurance?
To get cheap car insurance, compare quotes from multiple providers, bundle policies, increase your deductible, maintain a good driving record and ask about discounts. Also, consider usage-based insurance programs that track your driving habits.
How can I find the cheapest car insurance for me?
The cheapest car insurance for you depends on your circumstances. Use our car insurance estimator to compare personalized quotes based on your driving history, vehicle and coverage needs.
How does your car insurance estimator work?
Our car insurance estimator uses your information and driving profile to provide estimated costs from various providers. This allows you to compare rates and find the best coverage options.
Is $100+ a month expensive for car insurance?
Compared to the national monthly average of $139 (as of January 21, 2025), $100 is a reasonable price for car insurance.
Is $500 a month expensive for car insurance?
$500 per month ($6,000 annually) for car insurance is very expensive compared to national averages. The national average for full coverage is closer to $1,600 to $1,800 per year ($133 to $150 per month). Your $500 monthly premium is much higher than what most drivers pay, suggesting you might benefit from shopping around for better rates.
What is the 10% rule?
The 10% rule suggests that your total vehicle expenses — including car payments, insurance, gas, maintenance and repairs — should not exceed 10% of your gross income. This guideline helps you keep transportation costs manageable within your overall budget.
What is the typical coverage level recommendation?
The most recommended coverage level is typically a 100/300/100 full coverage policy, which provides $100K for bodily injury per person, $300K for bodily injury per accident and $100K for property damage. Very low-value cars can be insured with liability-only coverage to save money.
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Car Insurance Estimates: Our Methodology
MoneyGeek's car insurance calculator provides estimates based on an analysis of 83,056 quotes from 46 insurers across 473 ZIP codes nationwide. All rates are updated monthly, with the most recent update on May 5, 2025.
Data Collection
To generate accurate car insurance estimates, we partnered with Quadrant Information Services to collect premium data from state insurance departments. This dataset allows our calculator to account for rate variations between providers, locations and driver profiles.
How We Calculate Your Estimate
Our calculator uses a standard 40-year-old male driver with a Toyota Camry LE as the baseline, then adjusts estimates based on:
- Age and gender: Rates reflect typical risk profiles for different age groups and genders
- Vehicle make and model: Accounts for safety ratings, repair costs and theft statistics
- Location: Includes state requirements, traffic patterns and local risk factors
- Coverage level: Shows rates for multiple coverage options
- Driving history: Adjusts for clean records versus those with violations or accidents
- Credit profile: Reflects how credit scores impact rates, where legally permitted
How We Calculate Credit Tiers
Our calculator divides credit scores into four tiers:
- Excellent: 800 to 850 (lowest premiums)
- Good: 740 to 799
- Average: 670 to 739
- Poor: 300 to 669 (highest premiums)
Our calculator omits this factor in states where credit-based insurance scoring is prohibited (CA, HI, MA, MI and WA).
How We Calculate Vehicle Type
Vehicles are categorized based on:
- Body style: Sedan, SUV, truck, minivan, sports car or luxury vehicle
- Age: Current model year through 15+ years old
- Safety features: Standard and optional safety equipment
- Replacement cost: Based on current market value
- Claim frequency: Historical data on how often each model is involved in claims
Each category receives a risk multiplier that adjusts the base premium.
How We Calculate Liability Limits
Our calculator offers four liability coverage options:
- Minimum: State-required liability limits only (varies by location)
- Standard: 50/100/50 ($50K bodily injury per person, $100,K per accident and $50K property damage)
- Recommended: 100/300/100 ($100K/$300K/$100K)
- Premium: 250/500/250 ($250K/$500K/$250K)
Rate calculations factor in the cost of higher coverage limits, which typically becomes more cost-effective at higher tiers.
How We Calculate Deductibles
Deductible options for comprehensive and collision coverage include:
- $250: Higher premium, lower out-of-pocket cost for claims
- $500: Balanced premium and out-of-pocket costs (used for our standard full coverage calculations)
- $1,000: Lower premium, higher out-of-pocket cost for claims
- $2,000: Lowest premium, highest out-of-pocket cost
Deductible calculations are based on the likelihood of filing claims and how deductible amounts affect insurer risk.
Limitations
While our calculator provides accurate estimates, your final premium may vary based on your circumstances and each insurer's rating algorithms. Contact insurance providers directly with your complete driver profile for the most precise quotes.
About Mark Fitzpatrick
Mark Fitzpatrick, a Licensed Property and Casualty Insurance Producer, is MoneyGeek's resident Personal Finance Expert. With over five years of experience analyzing the insurance market, he conducts original research and creates tailored content for all types of buyers. His insights have been featured in publications like CNBC, NBC News and Mashable.
Fitzpatrick holds a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He's also a five-time Jeopardy champion!
Passionate about economics and insurance, he aims to promote transparency in financial topics and empower others to make confident money decisions.