Average Cost of Car Insurance in the U.S. for 2024

The average annual cost of car insurance among insurers in our rating of the Cheapest Car Insurance Companies is $1,547 per year. But the cost of car insurance is highly individualized and the premiums you pay are likely to differ from those in our analysis.

Insurers take many factors into consideration when setting rates. Location, the age of the insured, the type of vehicle being driven, credit history, and driving history are all considered, along with other variables.

Our study found that USAA has the cheapest average annual rate for car insurance, $1,022. But because USAA only sells policies to members of the military community and their families, most drivers will have to search elsewhere to find the most affordable average rates.

Geico has the second-cheapest sample rate we found, at $1,250 per year, and No. 3 State Farm’s rate, $1,279, is also well below the national average. The highest sample rate we found is $2,135 per year, on average, from Allstate.