Car Insurance Calculator: Estimate Your Insurance Costs

Even the savviest car shoppers can forget to estimate car insurance costs before making a purchase. Depending on the vehicle and your insurance company, the cost of coverage can vary by hundreds of dollars even if your driver profile and insurance needs stay the same — but using a car insurance estimator before you buy can help you avoid overpaying.

NerdWallet's car insurance calculator

Start by getting car insurance quotes for models you’re thinking about buying. Along with gas mileage and maintenance costs, car insurance costs should be included when calculating the total cost of owning a car. After all, negotiating a deal with low monthly payments is great, but will it really save you money if your car insurance doubles in price?

The national average car insurance rate is per year for full coverage, according to NerdWallet’s rate analysis. (Your rates will differ based on the car you buy, among other factors such as where you live and how old you are.)

Full coverage car insurance isn't a specific type of policy. Rather, it refers to a combination of coverage types. For our rate analysis, full coverage includes liability, comprehensive, collision, uninsured/underinsured motorist protection and any additional state-mandated coverage.

How to estimate car insurance costs

Follow these steps to accurately estimate your auto insurance costs:

• Narrow down your top choices for vehicles.

  Learn how to pick the right car for you, because only you know your situation and what you’re looking for in your next vehicle.

• Decide how much insurance coverage you need.

  If you’re buying a new car, include collision and comprehensive coverage, which cover damage to or loss of the vehicle. If you get a car loan, most lenders will require you to carry these types of coverage

• Get quotes for the same amount of coverage

  for the vehicles you’re thinking about buying. NerdWallet’s car insurance comparison tool can help you get started.

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Factors that affect the cost of car insurance

Your car make and model aren’t the only factors that go into an auto insurance quote. Others include:

• Personal characteristics

  like age, gender and marital status. For example, teen drivers have higher car insurance rates on average than any other age group.

• The coverage you choose.

  The more coverage you get, the higher your insurance rates are likely to be.

• Your driving record.

  A recent DUI, speeding ticket or at-fault accident can raise your rates. If you do have a recent violation, be sure to shop around. Some insurers may not penalize certain driving violations as severely as others.

• Your location.

  Most states require a minimum amount of car insurance, but those minimums can vary. And factors like your neighborhood's crime rate and population density will affect your insurance price too.

• Your credit score.

  Drivers with poor credit typically have higher car insurance rates. Insurers use a credit-based insurance score, which is different from your regular credit score, to determine the likelihood you’ll file a claim.

• Your car insurance history.

  This can include whether your car insurance has lapsed, if you’ve filed an insurance claim recently, how long you’ve been with your current insurer and even your last insurance company.

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Why some cars cost more to insure

Certain cars cost more to insure than others because they cost more to repair or replace. Also, carriers use crash and theft statistics to help set rates for each model separately. So if the car you choose tends to be stolen or crashed more, chances are you’ll pay more for insurance. For example, the reason sports cars cost more to cover is because they’re more likely to be driven fast and crashed hard by their owners. In fact, some insurers refuse to cover expensive cars.

Here are some specific vehicle characteristics that affect auto insurance costs:

• Retail price.

  Generally, the pricier the car, the more expensive it will be to insure. If you buy comprehensive and collision coverage, the insurance company will be on the hook to pay out the car’s market value if the vehicle is stolen or wrecked beyond repair.

• Cost of parts.

  High-end models often use parts made from carbon fiber and other specialized materials that are expensive to repair or replace. This drives up the cost of damage claims.

• Safety.

  Over time, cars that do a good job of protecting drivers and their passengers bring down insurance costs. Fewer injuries mean fewer claims for medical payments and personal injury protection, which makes the vehicle less risky in the eyes of your insurer.

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