What should car insurance cost? How much is it per month? These are some of the most commonly asked questions we get from our clients. Unfortunately, there isn’t a concrete answer because there are so many different variables that affect the price for each person.
Average Car Insurance Premiums to expect in Washington State for 2021
According to NerdWallet and Bankrate, the average full coverage premium in Washington state is around $1200 per year while the average minimum coverage premium in Washington state is around $550 per year. That’s around a $55 difference per month just depending on your coverage needs. To properly answer how much car insurance is per month, we are going to cover what we believe to be the top five variables you should be aware of when paying for car insurance. If you’re looking for ways to save money, visit our five tips to lower your auto insurance rates post!
Top 5 Variables That Affect Your Car Insurance Premiums
- Age. Depending on your age, the premium you pay for car insurance will be higher or lower. Generally, the older you get (up until about age 70) the better premiums you will receive. In Washington state, the average 16-year-old should expect to pay around $6000 per year for car insurance while the average 60-year-old should expect to pay around $1000 per year.
- Driving record. Accidents, claims, and speeding tickets are all huge factors that can affect your insurance premium. Just one recent speeding ticket can raise your insurance 25% higher than the average. In addition, car insurance rates for those who were found at-fault (or even partially at fault) during an accident are, on average, 50% higher than someone who hasn’t.
- Location. Believe it or not, your location plays a role in how much you might pay for auto insurance. For example, if you live in Pierce County, Washington, premiums tend to be higher than those who live in Snohomish County.
- Coverage needs and desires. This is one of the biggest differentiating factors because your premiums can be drastically different depending on how much coverage you need/want. For example, one of our PNW Insurance co-founders and agents, Ryan Stueber, pays $220 per month for 4 cars. As an insurance agent, he knows what’s really important on a car insurance policy, so he has really good coverage limits. Having great coverage doesn’t necessarily mean having a higher premium so if you’d like some help reviewing your current coverages, give us a call!
- Discounts. If you’re currently renting or own a home, you may be eligible to receive a multi-policy discount. Not driving much? You may also be eligible for a low mileage discount. Have more than one car? This is another area where you could save some money on a multi-car discount. There are lots of different ways you can save money on your car insurance so if you’d like to learn more, get in touch with us today!
Almost Every Car Insurance Policy Is Different
There are several variables that play a role in how much your car insurance might cost per month. Everyone is different, so it is important to remember how rare it is for two policies ever to be the same.
It’s also important to find the right balance between saving money and still having great coverage because if you were ever involved in an accident and found to be at-fault for someone else’s bodily injuries, you could literally lose everything if you’re not properly insured.
One of the best reasons to reach out to an independent insurance agency like PNW Insurance Group is because we can do the shopping for you, find the most competitive rate, and help guide you and understand what coverages would be best to have. If you’d like to make a change to your current policy or are just looking for a car insurance comparison, contact your Puyallup independent insurance agents today! We’d be happy to help!