How do I compare cars for insurance rates? If you’ve been searching for ways to compare your car insurance rates, then today‘s article is for you. This review is aimed at discussing how to compare cars for insurance rates. In the meantime, evaluating your car insurance rate is a vital step you must take before shopping for or purchasing a car insurance quote. This will enable you to make the right decision as well as select the right quote that matches your needs. In addition, this will enable you to save on your car insurance.
Although auto insurance companies across the globe use various methods to underwrite policies, the rate you are quoted might not match the quote from a competing company. Nonetheless, you can still determine how much you are likely to pay after considering certain factors such as your age, your driver profile, and more. But not to worry; we will provide you with all the information you need to compare your car insurance rate successfully. Whether you already have a car insurance policy or are yet to purchase one, you will need to learn how to compare rates. Read through this article to find out how to get started.
How Do Automobile Insurance Companies Compare Prices?
There are so many ways car insurance companies compare cars for insurance rates, so in this section of the article, we will outline the various ways to consider. Check out the various ways below this write-up:
Compare Cars Insurance Rates by Gender and Age
One of the factors or methods for comparing car insurance rates is your age. Your age plays a major role in determining how much your car insurance quote will cost. For instance, teen drivers are more likely to pay more compared to young adult drivers. Also, you can compare quotes based on gender. The cost of car insurance for a male driver differs from that of a female driver. Check out the outline below:
| AGE | AVERAGE RATES FOR FEMALE DRIVERS | AVERAGE RATES FOR MALE DRIVERS |
| 16 | $6408 | $7188 |
| 20 | $3100 | $3536 |
| 25 | $1870 | $1964 |
| 35 | $1651 | $1651 |
| 40 | $1614 | $1607 |
| 45 | $1586 | $1579 |
| 50 | $1512 | $1517 |
| 55 | $1465 | $1475 |
| 60 | $1454 | $1468 |
| 65 | $1489 | $1513 |
| 70 | $1573 | $1608 |
| 75 | $1712 | $1780 |
| 80 | $1880 | $1997 |
Compare Cars for Insurance Rates By Credit Score
Insurance companies also compare rates based on your credit score. Now, applicants with low credit scores tend to pay higher premiums compared to people with higher credit scores. Using this method, the following are some of the average rates for drivers with bad credit and good credit by insurance companies.
| Company | Average Annual Rate for Drivers with Good Credit | Average Annual Rate for Drivers with Bad Credit |
| State Farm | $1,381 | $3,849 |
| Geico | $1,233 | $1,750 |
| USAA | $1,238 | $1,865 |
| Allstate | $1,994 | $3,617 |
| progressive | $1,739 | $3,052 |
| Farmers | $1,745 | $3,049 |
| Nationwide | $1,332 | $1,905 |
| Erie | $1,400 | $2,694 |
| Travelers | $1,426 | $2,487 |
Compare Rates by Company
In addition to comparing rates by age, gender, and credit, you can also compare rates by company. Here is a list of the top auto insurance companies as well as their average rate for good drivers.
| COMPANY | AVERAGE RATES FOR GOOD DRIVERS |
| Geico | $1,182 |
| Travelers | $1,435 |
| Nationwide | $1,540 |
| State Farm | $1,402 |
| Allstate | $2,022 |
| Farmers | $2,124 |
| Auto-Owners | $1,532 |
| USAA | $1,141 |
| Progressive | $1,892 |
| Erie | $1,419 |
Compare Cars for Insurance Rates by State
State laws also determine how much you pay for car insurance, as most states require a minimum level of coverage before you can drive on the road. Different car insurance companies can charge different rates depending on your state or region. Here is an overview of the average rate for each state.
| STATE | MAXIMUM COVERAGE | MINIMUM COVERAGE |
| Alabama | $1,701 | $558 |
| Alaska | $1,292 | $396 |
| Arizona | $1,637 | $571 |
| Arkansas | $1,854 | $477 |
| California | $1,967 | $624 |
| Colorado | $1,899 | $489 |
| Connecticut | $1,659 | $814 |
| Delaware | $2,027 | $918 |
| Florida | $2,775 | $1,085 |
| Georgia | $1,698 | $709 |
| Hawaii | $1,128 | $365 |
| Idaho | $1,027 | $330 |
| Illinois | $1,383 | $478 |
| Indiana | $1,133 | $349 |
| Iowa | $1,131 | $237 |
| Kansas | $1,791 | $470 |
| Massachusetts | $1,163 | $456 |
| Maryland | $1,987 | $908 |
| Nebraska | $1,401 | $345 |
| New Jersey | $1,901 | $957 |
| Ohio | $1,066 | $380 |
| Oklahoma | $1,906 | $458 |
| Pennsylvania | $1,525 | $453 |
| South Dakota | $1,466 | $299 |
| Virginia | $1,354 | $506 |
| Washington, D.C. | $1,867 | $718 |
Compare Rates by Drivers with a DUI
DUI drivers are frequently charged more than non-DUI drivers. After a DUI, your rate might likely increase by 75% or even more. Check out the table below for the average annual rates.
| COMPANY | AVERAGE ANNUAL RATES |
| Nationwide | $1,411 |
| Geico | $1,221 |
| State Farm | $1,403 |
| Erie | $1,182 |
| USAA | $1,111 |
| Travelers | $1,499 |
| Progressive | $1,825 |
| Allstate | $2,315 |
How to Compare Car Insurance Quotes
Now that you understand how car insurance companies compare rates, you will need to learn how to compare car rates. Here are some of the important things to consider when comparing car insurance quotes.
Gather your personal details
Before comparing quotes, make sure you’ve successfully gathered your personal information. Some of the details you need include:
- Your personal information, such as your date of birth, driver’s license number, and address
- Driving history of all drivers on your policy
- Your insurance history as well as all drivers on the policy
- Also, your vehicle information and all the vehicles on the policy, including VIN
- Payment
Decide how much coverage you need
The second step in comparing car insurance quotes is deciding how much coverage you need. While some drivers only require basic coverage, others require additional coverage. The basic coverage includes bodily injury liability, property damage, collision coverage, and comprehensive coverage. However, the additional coverage may include car replacement, emergency assistance, car key replacement, and more, and this depends on your insurer.
Collect and compare car insurance quotes
After searching for at least three insurance companies you would like to get a quote from, visit their official website and then make use of their online quote tools to compare quotes from different companies. You can start by getting a quote from some of the most affordable car insurance companies or the best companies near you.
It is worth of note that auto insurance prices change over time. So when collecting and comparing quotes, save the reference number, as this will enable you to get back to the quote later. Lastly, quotes are likely to expire after a few weeks, depending on the company, so when you find a good price, don’t wait for a long time before purchasing the coverage.