How much is the car insurance per month?
First, most car insurance usually set their payment plans from a period of 6 months to a year.
However you are not limited to this period and you can always arrange to have a monthly payment plan with the insurance company.
If you opt for monthly payment plan, then you can be able to easily estimate you average monthly insurance cost.
Depending on the premium policy that you wish to take, your average monthly insurance cost should be around $100 to $200.
Though the average monthly insurance cost for your car should be around $150, there are several factors that the insurer will take into account.
Depending on the factors considered, your monthly car insurance cost may be less or more than the general average of $150 per month.
Here are some of the key factors considered;
When it comes to age, car insurance tends to consider charging higher rates for young drivers who are in their youthful age.
While older drivers will pay less as they are considered to be more careful as compared to young drivers who can easily over speed.
Premiums rates charged by different states tend to differ.
The difference comes about because of the uniqueness of each state when it comes to type of risks and regulations on car insurance.
However the difference in cost is minimal for most state.
· Make and model of the car
Generally a car that is luxurious will attract high premium rates because of the high cost value of the car.
For car that is still new in the market they usually tend to be expensive and this means that the insurer will also charge higher rates base on the value of the car.
· Driving Record
Having a poor driving record will show the insurer that you are at high risk of causing a car accident and the insurer would not hesitate to charge you with higher premium rates. For a driver with good record, premium rates will tend to be cheaper.
· Type of Policy
There are several types of car insurance policy available and they all vary on what they cover and also how much rates they each attract.
Now that you have an idea of factors that are considered in determining the premium rates charged, you can be able to know how much is car insurance per month for your car based on the factors talked about.