The Average Cost of Car Insurance ?

ʜᴏᴡ ᴍᴜᴄʜ ɪs ᴄᴀʀ ɪɴsᴜʀᴀɴᴄᴇ ғᴏʀ ᴛʜᴇ ᴀᴠᴇʀᴀɢᴇ ᴀᴍᴇʀɪᴄᴀɴ? ᴡʜᴀᴛ’s ᴛʜᴇ ᴀᴠᴇʀᴀɢᴇ ᴄᴀʀ ɪɴsᴜʀᴀɴᴄᴇ ʀᴀᴛᴇ ʙʏ ᴀɢᴇ ᴀɴᴅ ɢᴇɴᴅᴇʀ?

ᴡᴇ ᴘᴜʟʟᴇᴅ ᴅᴀᴛᴀ ғʀᴏᴍ sᴇᴠᴇʀᴀʟ ᴏғ ᴛʜᴇ ᴛᴏᴘ sᴏᴜʀᴄᴇs ғᴏʀ ᴄᴀʀ ɪɴsᴜʀᴀɴᴄᴇ ᴅᴀᴛᴀ ᴛᴏ ɢᴇᴛ ᴛʜᴇ ᴀɴsᴡᴇʀs. sᴏᴍᴇ ʀᴇsᴜʟᴛs ᴡᴇʀᴇ ᴇxᴀᴄᴛʟʏ ᴀs ᴡᴇ ᴇxᴘᴇᴄᴛᴇᴅ — ғᴏʀ ᴇxᴀᴍᴘʟᴇ, ᴛᴇᴇɴs ᴘᴀʏ ᴍᴜᴄʜ ᴍᴏʀᴇ ғᴏʀ ᴄᴀʀ ɪɴsᴜʀᴀɴᴄᴇ.

ᴛʜᴇʀᴇ ᴡᴇʀᴇ ᴘʟᴇɴᴛʏ ᴏғ sᴜʀᴘʀɪsᴇs ᴀs ᴡᴇʟʟ, ʟɪᴋᴇ ᴛʜᴇ ғᴀᴄᴛ ᴛʜᴀᴛ ᴀ ʟᴏᴡ ᴄʀᴇᴅɪᴛ sᴄᴏʀᴇ ɪs ᴀʟᴍᴏsᴛ ᴀs ʙᴀᴅ ғᴏʀ ʏᴏᴜʀ ɪɴsᴜʀᴀɴᴄᴇ ʀᴀᴛᴇ ᴀs ᴅʀɪᴠɪɴɢ ᴜɴᴅᴇʀ ᴛʜᴇ ɪɴғʟᴜᴇɴᴄᴇ (ᴅᴜɪ).

ᴋᴇᴇᴘ ʀᴇᴀᴅɪɴɢ ғᴏʀ ᴀʟʟ ᴛʜᴇ ʟᴀᴛᴇsᴛ ɪɴғᴏʀᴍᴀᴛɪᴏɴ ᴏɴ ᴛʜᴇ ᴀᴠᴇʀᴀɢᴇ ᴄᴏsᴛ ᴏғ ᴀᴜᴛᴏ ɪɴsᴜʀᴀɴᴄᴇ.

ᴋᴇʏ ғɪɴᴅɪɴɢs

ᴛʜᴇ ᴀᴠᴇʀᴀɢᴇ ᴄᴏsᴛ ᴏғ ᴄᴀʀ ɪɴsᴜʀᴀɴᴄᴇ ɪs $1,569 ғᴏʀ ᴀ ᴏɴᴇ-ʏᴇᴀʀ ᴘᴏʟɪᴄʏ ᴡɪᴛʜ ғᴜʟʟ ᴄᴏᴠᴇʀᴀɢᴇ.

ᴛᴇᴇɴs ʜᴀᴠᴇ ᴛʜᴇ ᴍᴏsᴛ ᴇxᴘᴇɴsɪᴠᴇ ᴄᴀʀ ɪɴsᴜʀᴀɴᴄᴇ ʀᴀᴛᴇs ʙʏ ᴀ ᴡɪᴅᴇ ᴍᴀʀɢɪɴ, ᴡɪᴛʜ ᴘᴏʟɪᴄɪᴇs ᴛʜᴀᴛ ᴄᴏsᴛ ᴏᴠᴇʀ ᴛᴡɪᴄᴇ ᴀs ᴍᴜᴄʜ ᴀs ᴛʜᴏsᴇ ᴏғ ᴀɴʏ ᴏᴛʜᴇʀ ᴀɢᴇ ɢʀᴏᴜᴘ.

ᴄᴀʀ ɪɴsᴜʀᴀɴᴄᴇ ʀᴀᴛᴇs ᴀʀᴇ ʟᴏᴡᴇsᴛ ғᴏʀ ᴅʀɪᴠᴇʀs ɪɴ ᴛʜᴇɪʀ 50s.

ʀᴀᴛᴇs ᴀʀᴇ ʜɪɢʜᴇʀ ғᴏʀ ʏᴏᴜɴɢ ᴍᴀʟᴇ ᴅʀɪᴠᴇʀs ᴛʜᴀɴ ʏᴏᴜɴɢ ғᴇᴍᴀʟᴇ ᴅʀɪᴠᴇʀs, ʙᴜᴛ ᴛʜᴇʀᴇ’s ᴍɪɴɪᴍᴀʟ ᴅɪғғᴇʀᴇɴᴄᴇ ʙʏ ɢᴇɴᴅᴇʀ ғᴏʀ ᴅʀɪᴠᴇʀs 25 ᴀɴᴅ ᴏʟᴅᴇʀ.

ʜʏʙʀɪᴅs ᴀʀᴇ ᴛʜᴇ ᴍᴏsᴛ ᴇxᴘᴇɴsɪᴠᴇ ᴛʏᴘᴇ ᴏғ ᴄᴀʀ ᴛᴏ ɪɴsᴜʀᴇ, ғᴏʟʟᴏᴡᴇᴅ ʙʏ sᴇᴅᴀɴs.

ᴍɪᴄʜɪɢᴀɴ ʜᴀs ᴛʜᴇ ʜɪɢʜᴇsᴛ ᴄᴀʀ ɪɴsᴜʀᴀɴᴄᴇ ʀᴀᴛᴇs ᴡɪᴛʜ ᴀɴ ᴀᴠᴇʀᴀɢᴇ ᴄᴏsᴛ ᴏғ $3,096 ᴘᴇʀ ʏᴇᴀʀ, ᴏᴠᴇʀ $700 ᴍᴏʀᴇ ᴛʜᴀɴ sᴇᴄᴏɴᴅ-ᴘʟᴀᴄᴇ ʟᴏᴜɪsɪᴀɴᴀ.

ᴜsᴀᴀ ɪs ᴛʜᴇ ᴄᴀʀʀɪᴇʀ ᴡɪᴛʜ ᴛʜᴇ ᴄʜᴇᴀᴘᴇsᴛ ᴄᴀʀ ɪɴsᴜʀᴀɴᴄᴇ ʀᴀᴛᴇs ᴀᴛ $885 ᴘᴇʀ ʏᴇᴀʀ.

ᴅʀɪᴠɪɴɢ ᴜɴᴅᴇʀ ᴛʜᴇ ɪɴғʟᴜᴇɴᴄᴇ ᴄᴀᴜsᴇs ᴀɴ ᴀᴠᴇʀᴀɢᴇ ʀᴀᴛᴇ ʜɪᴋᴇ ᴏғ 75%.

ᴅʀɪᴠᴇʀs ᴡɪᴛʜ ʙᴀᴅ ᴄʀᴇᴅɪᴛ ᴘᴀʏ 71% ᴍᴏʀᴇ ᴛʜᴀɴ ᴛʜᴏsᴇ ᴡɪᴛʜ ɢᴏᴏᴅ ᴄʀᴇᴅɪᴛ, ᴇxᴄᴇᴘᴛ ɪɴ ᴛʜᴇ ғᴇᴡ sᴛᴀᴛᴇs ᴛʜᴀᴛ ᴅᴏɴ’ᴛ ᴀʟʟᴏᴡ ᴄᴀʀʀɪᴇʀs ᴛᴏ ᴜsᴇ ᴄʀᴇᴅɪᴛ sᴄᴏʀᴇs ᴡʜᴇɴ ᴄᴀʟᴄᴜʟᴀᴛɪɴɢ ʀᴀᴛᴇs.

ᴛʜᴇ ᴅɪғғᴇʀᴇɴᴛ ᴛʏᴘᴇs ᴏғ ᴄᴀʀ ɪɴsᴜʀᴀɴᴄᴇ

ʙᴇғᴏʀᴇ ᴡᴇ ɢᴇᴛ ɪɴᴛᴏ ᴛʜᴇ ᴀᴠᴇʀᴀɢᴇ ᴄᴏsᴛ ᴏғ ᴄᴀʀ ɪɴsᴜʀᴀɴᴄᴇ, ᴡᴇ ɴᴇᴇᴅ ᴛᴏ ɢᴏ ᴏᴠᴇʀ ᴛʜᴇ ᴛʏᴘᴇs ᴏғ ᴀᴜᴛᴏ ɪɴsᴜʀᴀɴᴄᴇ ᴀᴠᴀɪʟᴀʙʟᴇ.

ᴛʜᴇʀᴇ ᴀʀᴇ ғᴏᴜʀ ʙᴀsɪᴄ ᴛʏᴘᴇs ᴏғ ᴄᴀʀ ɪɴsᴜʀᴀɴᴄᴇ ᴄᴏᴠᴇʀᴀɢᴇ:

ᴘʀᴏᴘᴇʀᴛʏ ᴅᴀᴍᴀɢᴇ ʟɪᴀʙɪʟɪᴛʏ ᴄᴏᴠᴇʀᴀɢᴇ: ᴄᴏᴠᴇʀs ᴅᴀᴍᴀɢᴇ ᴄᴀᴜsᴇᴅ ᴛᴏ ᴀɴᴏᴛʜᴇʀ ᴘᴇʀsᴏɴ’s ᴘʀᴏᴘᴇʀᴛʏ ᴡʜᴇɴ ᴛʜᴇ ᴘᴏʟɪᴄʏʜᴏʟᴅᴇʀ ɪs ᴀᴛ ғᴀᴜʟᴛ ғᴏʀ ᴀɴ ᴀᴄᴄɪᴅᴇɴᴛ.

ʙᴏᴅɪʟʏ ɪɴᴊᴜʀʏ ʟɪᴀʙɪʟɪᴛʏ ᴄᴏᴠᴇʀᴀɢᴇ: ᴄᴏᴠᴇʀs ᴍᴇᴅɪᴄᴀʟ ᴄᴏsᴛs ɪɴᴄᴜʀʀᴇᴅ ʙʏ ᴀɴᴏᴛʜᴇʀ ᴘᴇʀsᴏɴ ᴡʜᴇɴ ᴛʜᴇ ᴘᴏʟɪᴄʏʜᴏʟᴅᴇʀ ɪs ᴀᴛ ғᴀᴜʟᴛ ғᴏʀ ᴀɴ ᴀᴄᴄɪᴅᴇɴᴛ.

ᴄᴏʟʟɪsɪᴏɴ ᴄᴏᴠᴇʀᴀɢᴇ: ᴄᴏᴠᴇʀs ᴅᴀᴍᴀɢᴇ ᴛᴏ ᴛʜᴇ ᴘᴏʟɪᴄʏʜᴏʟᴅᴇʀ’s ᴠᴇʜɪᴄʟᴇ ᴡʜᴇɴ ᴛʜᴇʏ’ʀᴇ ᴀᴛ ғᴀᴜʟᴛ ғᴏʀ ᴀɴ ᴀᴄᴄɪᴅᴇɴᴛ.

ᴄᴏᴍᴘʀᴇʜᴇɴsɪᴠᴇ ᴄᴏᴠᴇʀᴀɢᴇ: ᴄᴏᴠᴇʀs ᴅᴀᴍᴀɢᴇ ᴛᴏ ᴛʜᴇ ᴘᴏʟɪᴄʏʜᴏʟᴅᴇʀ’s ᴠᴇʜɪᴄʟᴇ ᴛʜᴀᴛ ᴡᴀsɴ’ᴛ ᴄᴀᴜsᴇᴅ ʙʏ ᴀɴ ᴀᴄᴄɪᴅᴇɴᴛ, sᴜᴄʜ ᴀs ᴛʜᴇғᴛ ᴀɴᴅ ᴡᴇᴀᴛʜᴇʀ.

ᴀʟʟ ʙᴜᴛ ᴛᴡᴏ sᴛᴀᴛᴇs (ɴᴇᴡ ʜᴀᴍᴘsʜɪʀᴇ ᴀɴᴅ ᴠɪʀɢɪɴɪᴀ) ʀᴇϙᴜɪʀᴇ ᴅʀɪᴠᴇʀs ᴛᴏ ʜᴀᴠᴇ ʟɪᴀʙɪʟɪᴛʏ ɪɴsᴜʀᴀɴᴄᴇ. ɪɴ ᴛʜᴇ ᴛᴡᴏ sᴛᴀᴛᴇs ᴛʜᴀᴛ ᴅᴏɴ’ᴛ ʀᴇϙᴜɪʀᴇ ɪᴛ, ᴅʀɪᴠᴇʀs ᴍᴜsᴛ ʙᴇ ᴀʙʟᴇ ᴛᴏ ᴘᴀʏ ғᴏʀ ᴘʀᴏᴘᴇʀᴛʏ ᴅᴀᴍᴀɢᴇ ᴀɴᴅ ʙᴏᴅɪʟʏ ɪɴᴊᴜʀʏ ʀᴇsᴜʟᴛɪɴɢ ғʀᴏᴍ ᴀ ᴄᴀʀ ᴀᴄᴄɪᴅᴇɴᴛ. ғᴏʀ ᴍᴏsᴛ ᴅʀɪᴠᴇʀs, ʟɪᴀʙɪʟɪᴛʏ ɪɴsᴜʀᴀɴᴄᴇ ɪs sᴛɪʟʟ ᴛʜᴇ ᴍᴏsᴛ sᴇɴsɪʙʟᴇ ᴏᴘᴛɪᴏɴ ᴇᴠᴇɴ ɪɴ sᴛᴀᴛᴇs ᴛʜᴀᴛ ᴅᴏɴ’ᴛ ʀᴇϙᴜɪʀᴇ ɪᴛ.

ᴛʜᴇ ᴍɪɴɪᴍᴜᴍ ᴀᴍᴏᴜɴᴛ ᴏғ ʟɪᴀʙɪʟɪᴛʏ ɪɴsᴜʀᴀɴᴄᴇ ᴛʜᴀᴛ’s ʟᴇɢᴀʟʟʏ ʀᴇϙᴜɪʀᴇᴅ ᴠᴀʀɪᴇs ʙʏ sᴛᴀᴛᴇ ᴀɴᴅ ɪs ᴏғᴛᴇɴ ʀᴇғᴇʀʀᴇᴅ ᴄᴀʟʟᴇᴅ ᴀ ᴍɪɴɪᴍᴜᴍ ᴄᴏᴠᴇʀᴀɢᴇ ᴘᴏʟɪᴄʏ. ғᴏʀ ᴇxᴀᴍᴘʟᴇ, ᴍɪɴɪᴍᴜᴍ ᴄᴏᴠᴇʀᴀɢᴇ ɪɴ ᴏɴᴇ sᴛᴀᴛᴇ ᴄᴏᴜʟᴅ ʙᴇ ᴀᴛ ʟᴇᴀsᴛ $10,000 ɪɴ ᴘʀᴏᴘᴇʀᴛʏ ᴅᴀᴍᴀɢᴇ ʟɪᴀʙɪʟɪᴛʏ ᴀɴᴅ $25,000 ɪɴ ʙᴏᴅɪʟʏ ɪɴᴊᴜʀʏ ʟɪᴀʙɪʟɪᴛʏ.

ɪғ ᴀ ᴘᴏʟɪᴄʏ ʜᴀs ᴀʟʟ ғᴏᴜʀ ᴛʏᴘᴇs ᴏғ ᴄᴏᴠᴇʀᴀɢᴇ ᴅᴇsᴄʀɪʙᴇᴅ ᴀʙᴏᴠᴇ, ᴛʜᴀᴛ’s ᴀ ғᴜʟʟ ᴄᴏᴠᴇʀᴀɢᴇ ᴘᴏʟɪᴄʏ. ᴛʜᴇsᴇ ᴘᴏʟɪᴄɪᴇs ᴄᴀɴ ᴠᴀʀʏ ᴄᴏɴsɪᴅᴇʀᴀʙʟʏ ɪɴ ғᴇᴀᴛᴜʀᴇs ᴀɴᴅ ᴘʀɪᴄɪɴɢ ᴅᴇᴘᴇɴᴅɪɴɢ ᴏɴ ᴡʜᴀᴛ ᴛʜᴇ ᴅʀɪᴠᴇʀ ᴡᴀɴᴛs.

ᴀᴠᴇʀᴀɢᴇ ᴄᴏsᴛ ᴏғ ᴄᴀʀ ɪɴsᴜʀᴀɴᴄᴇ: $1,569 ᴘᴇʀ ʏᴇᴀʀ

ᴛʜᴇ ᴀᴠᴇʀᴀɢᴇ ᴄᴀʀ ɪɴsᴜʀᴀɴᴄᴇ ʀᴀᴛᴇ ɪs $1,569 ᴘᴇʀ ʏᴇᴀʀ ғᴏʀ ғᴜʟʟ ᴄᴏᴠᴇʀᴀɢᴇ ʙᴀsᴇᴅ ᴏɴ ᴅᴀᴛᴀ ғʀᴏᴍ ᴄᴏᴠᴇʀᴀɢᴇ.ᴄᴏᴍ, ɪɴsᴜʀᴇ.ᴄᴏᴍ, ᴛʜᴇ ᴢᴇʙʀᴀ sᴛᴀᴛᴇ ᴏғ ᴀᴜᴛᴏ ɪɴsᴜʀᴀɴᴄᴇ 2019, ᴀɴᴅ ᴜ.s. ɴᴇᴡs.

ʙʀᴇᴀᴋɪɴɢ ɪᴛ ᴅᴏᴡɴ, ᴛʜᴇ ᴀᴠᴇʀᴀɢᴇ ᴄᴀʀ ɪɴsᴜʀᴀɴᴄᴇ ᴄᴏsᴛ ᴘᴇʀ ᴍᴏɴᴛʜ ɪs ᴀʙᴏᴜᴛ $131. ɪғ ʏᴏᴜ’ʀᴇ ʟᴏᴏᴋɪɴɢ ғᴏʀ ᴀ ʙᴀʟʟᴘᴀʀᴋ ᴇsᴛɪᴍᴀᴛᴇ ᴏғ ᴄᴀʀ ɪɴsᴜʀᴀɴᴄᴇ ᴄᴏsᴛs, ᴘʟᴀɴ ᴏɴ ᴛʜᴀᴛ.

ᴍɪɴɪᴍᴜᴍ ᴄᴏᴠᴇʀᴀɢᴇ ɪs ᴍᴜᴄʜ ᴄʜᴇᴀᴘᴇʀ, ᴡɪᴛʜ ᴀɴ ᴀᴠᴇʀᴀɢᴇ ʏᴇᴀʀʟʏ ᴄᴏsᴛ ᴏғ $545, ᴀᴄᴄᴏʀᴅɪɴɢ ᴛᴏ ᴄᴏᴠᴇʀᴀɢᴇ 

ᴄᴀʀ ɪɴsᴜʀᴀɴᴄᴇ ᴘʀɪᴄᴇs ᴛᴇɴᴅ ᴛᴏ ɪɴᴄʀᴇᴀsᴇ ᴏᴠᴇʀ ᴛɪᴍᴇ. ᴛʜᴇ ᴢᴇʙʀᴀ ғᴏᴜɴᴅ ᴛʜᴀᴛ ᴛʜᴇ ᴀᴠᴇʀᴀɢᴇ ᴀᴜᴛᴏ ɪɴsᴜʀᴀɴᴄᴇ ᴘʀᴇᴍɪᴜᴍ ʜᴀs ɢᴏɴᴇ ᴜᴘ 29.6% sɪɴᴄᴇ 2011. ʜᴏᴡᴇᴠᴇʀ, ᴛʜɪs ᴄᴀɴ ᴠᴀʀʏ ᴄᴏɴsɪᴅᴇʀᴀʙʟʏ ғʀᴏᴍ ʏᴇᴀʀ ᴛᴏ ʏᴇᴀʀ. ɪɴ 2013, ᴛʜᴇ ᴀᴠᴇʀᴀɢᴇ ᴘʀᴇᴍɪᴜᴍ ᴀᴍᴏᴜɴᴛ ᴅᴇᴄʀᴇᴀsᴇᴅ ʙʏ 6.3%. ᴏᴛʜᴇʀ ʏᴇᴀʀs ʜᴀᴠᴇ sᴇᴇɴ ɪɴᴄʀᴇᴀsᴇs ᴏғ ᴀs ᴍᴜᴄʜ ᴀs 6.9%.

ᴀᴠᴇʀᴀɢᴇ ᴄᴏsᴛ ᴏғ ᴄᴀʀ ɪɴsᴜʀᴀɴᴄᴇ ʙʏ ᴀɢᴇ ᴀɢᴇ ʀᴀɴɢᴇ ᴀᴠᴇʀᴀɢᴇ ᴀɴɴᴜᴀʟ ʀᴀᴛᴇ (ғᴜʟʟ ᴄᴏᴠᴇʀᴀɢᴇ) ᴛᴇᴇɴs $5,023 20s $1,989 30s $1,532 40s $1,474 50s $1,365 60s $1,384 70s $1,611 80s $1,880

ᴅᴀᴛᴀ sᴏᴜʀᴄᴇ: ᴛʜᴇ ᴢᴇʙʀᴀ (2020).

ɪɴsᴜʀᴀɴᴄᴇ ʀᴀᴛᴇs ғᴏʀ ʏᴏᴜɴɢᴇʀ ᴅʀɪᴠᴇʀs ᴄᴀɴ ʙᴇ ᴠᴇʀʏ ᴇxᴘᴇɴsɪᴠᴇ, ᴀs ᴛʜᴇʏ’ʀᴇ ᴍᴏʀᴇ ʟɪᴋᴇʟʏ ᴛᴏ ʙᴇ ɪɴᴠᴏʟᴠᴇᴅ ɪɴ ᴀᴄᴄɪᴅᴇɴᴛs. ᴛʜᴀᴛ’s ᴘʀɪᴍᴀʀɪʟʏ ᴅᴜᴇ ᴛᴏ ᴀ ʟᴀᴄᴋ ᴏғ ʀᴏᴀᴅ ᴇxᴘᴇʀɪᴇɴᴄᴇ ᴀɴᴅ ʙᴇᴄᴀᴜsᴇ ᴛʜᴇʏ’ʀᴇ ᴍᴏʀᴇ ᴘʀᴏɴᴇ ᴛᴏ ʀᴇᴄᴋʟᴇss ʙᴇʜᴀᴠɪᴏʀs.

ᴅʀɪᴠᴇʀs ᴡʜᴏ ᴍᴀɪɴᴛᴀɪɴ ᴀ ᴄʟᴇᴀɴ ᴅʀɪᴠɪɴɢ ʀᴇᴄᴏʀᴅ ᴡɪʟʟ sᴇᴇ ᴛʜᴇɪʀ ᴄᴀʀ ɪɴsᴜʀᴀɴᴄᴇ ᴄᴏsᴛ ᴅʀᴏᴘ ϙᴜɪᴄᴋʟʏ. ᴛʜᴇ ᴀᴠᴇʀᴀɢᴇ ᴘʀᴇᴍɪᴜᴍ ғᴏʀ ᴀ 16-ʏᴇᴀʀ-ᴏʟᴅ ᴅʀɪᴠᴇʀ ɪs $6,600 ᴘᴇʀ ʏᴇᴀʀ, ʙᴜᴛ ɪᴛ’s ᴜɴᴅᴇʀ $2,500 ʙʏ ᴛʜᴇ ᴛɪᴍᴇ ᴅʀɪᴠᴇʀs ʀᴇᴀᴄʜ ᴛʜᴇɪʀ 20s.

ᴀᴠᴇʀᴀɢᴇ ᴄᴏsᴛ ᴏғ ᴄᴀʀ ɪɴsᴜʀᴀɴᴄᴇ ʙʏ ɢᴇɴᴅᴇʀ

ᴛʜᴇ ᴄᴏɴᴠᴇɴᴛɪᴏɴᴀʟ ᴡɪsᴅᴏᴍ ɪs ᴛʜᴀᴛ ᴍᴀʟᴇ ᴅʀɪᴠᴇʀs ᴘᴀʏ ᴍᴏʀᴇ ᴛʜᴀɴ ғᴇᴍᴀʟᴇ ᴅʀɪᴠᴇʀs ғᴏʀ ᴄᴀʀ ɪɴsᴜʀᴀɴᴄᴇ. ᴛʜᴀᴛ ɪsɴ’ᴛ ᴇɴᴛɪʀᴇʟʏ ᴛʀᴜᴇ.

ᴀᴍᴏɴɢ ʏᴏᴜɴɢᴇʀ ᴅʀɪᴠᴇʀs, ᴛʜᴇ ᴢᴇʙʀᴀ ғᴏᴜɴᴅ ᴛʜᴇ ᴀᴠᴇʀᴀɢᴇ ᴀᴜᴛᴏ ɪɴsᴜʀᴀɴᴄᴇ ᴄᴏsᴛ ɪs ʜɪɢʜᴇʀ ғᴏʀ ᴍᴀʟᴇs. ᴛᴇᴇɴᴀɢᴇ ᴍᴀʟᴇ ᴅʀɪᴠᴇʀs ᴘᴀʏ 14% ᴍᴏʀᴇ ᴛʜᴀɴ ғᴇᴍᴀʟᴇ ᴅʀɪᴠᴇʀs, ᴏɴ ᴀᴠᴇʀᴀɢᴇ. ᴀɴᴅ ᴍᴀʟᴇ ᴅʀɪᴠᴇʀs ʙᴇᴛᴡᴇᴇɴ ᴛʜᴇ ᴀɢᴇs ᴏғ 20 ᴀɴᴅ 24 ᴘᴀʏ 8% ᴍᴏʀᴇ ᴛʜᴀɴ ғᴇᴍᴀʟᴇ ᴅʀɪᴠᴇʀs ᴏғ ᴛʜᴇ sᴀᴍᴇ ᴀɢᴇ.

ᴀᴛ 25 ᴀɴᴅ ᴏʟᴅᴇʀ, ᴛʜᴇʀᴇ’s ɴᴏ ʟᴏɴɢᴇʀ ᴀ ɴᴏᴛᴀʙʟᴇ ᴅɪғғᴇʀᴇɴᴄᴇ ɪɴ ᴀᴜᴛᴏ ɪɴsᴜʀᴀɴᴄᴇ ᴘᴏʟɪᴄʏ ʀᴀᴛᴇs. ʜᴇʀᴇ’s ʜᴏᴡ ᴍᴜᴄʜ ᴇᴀᴄʜ ɢᴇɴᴅᴇʀ ᴘᴀʏs ᴡʜᴇɴ ᴄᴏᴍᴘᴀʀɪɴɢ ʀᴀᴛᴇs ғᴏʀ ᴇxᴘᴇʀɪᴇɴᴄᴇᴅ ᴅʀɪᴠᴇʀs:

ɢᴇɴᴅᴇʀ ᴀᴠᴇʀᴀɢᴇ ᴀɴɴᴜᴀʟ ʀᴀᴛᴇ (ғᴜʟʟ ᴄᴏᴠᴇʀᴀɢᴇ) ғᴇᴍᴀʟᴇ $1,480 ᴍᴀʟᴇ $1,470

ᴛʜᴇ ᴢᴇʙʀᴀ (2020).

sᴇᴠᴇɴ sᴛᴀᴛᴇs ʜᴀᴠᴇ ᴘʀᴏʜɪʙɪᴛᴇᴅ ᴄᴀʀʀɪᴇʀs ғʀᴏᴍ ᴜsɪɴɢ ɢᴇɴᴅᴇʀ ᴛᴏ ᴅᴇᴛᴇʀᴍɪɴᴇ ᴄᴀʀ ɪɴsᴜʀᴀɴᴄᴇ ʀᴀᴛᴇs. ᴍᴏʀᴇ ᴡɪʟʟ ʟɪᴋᴇʟʏ ᴊᴏɪɴ ᴛʜᴇᴍ, ᴇsᴘᴇᴄɪᴀʟʟʏ ᴀs ᴍᴀɴʏ sᴛᴀᴛᴇs ɴᴏᴡ ᴀʟʟᴏᴡ ʀᴇsɪᴅᴇɴᴛs ᴛᴏ ᴄʜᴏᴏsᴇ ɴᴏɴʙɪɴᴀʀʏ ɢᴇɴᴅᴇʀ ᴅᴇsɪɢɴᴀᴛɪᴏɴs.

ɪғ ʏᴏᴜ ғᴇᴇʟ ʟɪᴋᴇ ʏᴏᴜ’ʀᴇ ᴘᴀʏɪɴɢ ᴍᴏʀᴇ ʙᴇᴄᴀᴜsᴇ ᴏғ ʏᴏᴜʀ ɢᴇɴᴅᴇʀ, ʙᴇ sᴜʀᴇ ᴛᴏ ɢᴇᴛ ᴀ ᴠᴀʀɪᴇᴛʏ ᴏғ ᴄᴀʀ ɪɴsᴜʀᴀɴᴄᴇ ϙᴜᴏᴛᴇs ᴛᴏ ғɪɴᴅ ᴛʜᴇ ʙᴇsᴛ ᴏɴᴇ ғᴏʀ ʏᴏᴜ.

ᴀᴠᴇʀᴀɢᴇ ᴄᴏsᴛ ᴏғ ᴄᴀʀ ɪɴsᴜʀᴀɴᴄᴇ ʙʏ ᴛʏᴘᴇ ᴏғ ᴄᴀʀ ᴠᴇʜɪᴄʟᴇ ᴛʏᴘᴇ ᴀᴠᴇʀᴀɢᴇ ᴀɴɴᴜᴀʟ ʀᴀᴛᴇ (ғᴜʟʟ ᴄᴏᴠᴇʀᴀɢᴇ) ʜʏʙʀɪᴅ $2,343 sᴇᴅᴀɴ $2,242 sᴜᴠ $1,868 ᴛʀᴜᴄᴋ $1,741 ᴠᴀɴ $1,602

ᴅᴀᴛᴀ sᴏᴜʀᴄᴇ: ɪɴsᴜʀᴇ.ᴄᴏᴍ ᴀɴᴅ ᴛʜᴇ ᴢᴇʙʀᴀ (2020).

ᴠᴀɴs ᴄᴏsᴛ ʟᴇss ᴛᴏ ɪɴsᴜʀᴇ ᴛʜᴀɴ ᴀɴʏ ᴏᴛʜᴇʀ ᴛʏᴘᴇ ᴏғ ᴠᴇʜɪᴄʟᴇ ᴀɴᴅ ᴀʀᴇ $640 ᴄʜᴇᴀᴘᴇʀ ᴘᴇʀ ʏᴇᴀʀ ᴛʜᴀɴ sᴇᴅᴀɴs.

ʜʏʙʀɪᴅs ᴍᴀʏ sᴀᴠᴇ ᴅʀɪᴠᴇʀs ᴍᴏɴᴇʏ ᴀᴛ ᴛʜᴇ ᴘᴜᴍᴘ, ʙᴜᴛ ᴛʜᴇʏ’ʀᴇ ᴍᴏʀᴇ ᴇxᴘᴇɴsɪᴠᴇ ᴛᴏ ɪɴsᴜʀᴇ. ᴛʜᴀᴛ’s ʙᴇᴄᴀᴜsᴇ ᴛʜᴇʏ ʜᴀᴠᴇ ʜɪɢʜᴇʀ ʀᴇᴘᴀɪʀ ᴄᴏsᴛs.

ɪɴ ᴄᴀsᴇ ʏᴏᴜ’ʀᴇ ᴡᴏɴᴅᴇʀɪɴɢ ʜᴏᴡ ᴍᴜᴄʜ ᴛᴇsʟᴀ ɪɴsᴜʀᴀɴᴄᴇ ᴄᴏsᴛs, ɪɴsᴜʀᴇ.ᴄᴏᴍ ғᴏᴜɴᴅ ᴛʜᴇ ᴀᴠᴇʀᴀɢᴇ ʀᴀᴛᴇ ɪs $3,110. ᴛʜᴇ ᴛᴇsʟᴀ ᴍᴏᴅᴇʟ s ᴡᴀs ᴀʟsᴏ ᴛʜᴇ 10ᴛʜ-ᴍᴏsᴛ-ᴇxᴘᴇɴsɪᴠᴇ ᴠᴇʜɪᴄʟᴇ ᴛᴏ ɪɴsᴜʀᴇ ᴏɴ ᴛʜᴇ ᴢᴇʙʀᴀ’s ʟɪsᴛ, ᴀᴛ ᴀɴ ᴀᴠᴇʀᴀɢᴇ ʀᴀᴛᴇ ᴏғ $3,476.

ᴀᴠᴇʀᴀɢᴇ ᴄᴏsᴛ ᴏғ ᴄᴀʀ ɪɴsᴜʀᴀɴᴄᴇ ʙʏ sᴛᴀᴛᴇ sᴛᴀᴛᴇ ᴀᴠᴇʀᴀɢᴇ ᴀɴɴᴜᴀʟ ʀᴀᴛᴇ (ғᴜʟʟ ᴄᴏᴠᴇʀᴀɢᴇ) ᴀᴠᴇʀᴀɢᴇ ᴀɴɴᴜᴀʟ ʀᴀᴛᴇ (ᴍɪɴɪᴍᴜᴍ ᴄᴏᴠᴇʀᴀɢᴇ) ᴀʟᴀʙᴀᴍᴀ $1,450 $554 ᴀʟᴀsᴋᴀ $1,275 $478 ᴀʀɪᴢᴏɴᴀ $1,470 $614 ᴀʀᴋᴀɴsᴀs $1,698 $608 ᴄᴀʟɪғᴏʀɴɪᴀ $1,868 $648 ᴄᴏʟᴏʀᴀᴅᴏ $1,757 $673 ᴄᴏɴɴᴇᴄᴛɪᴄᴜᴛ $1,696 $816 ᴅᴇʟᴀᴡᴀʀᴇ $1,803 $922 ᴅɪsᴛʀɪᴄᴛ ᴏғ ᴄᴏʟᴜᴍʙɪᴀ $1,383 $633 ғʟᴏʀɪᴅᴀ $2,309 $1,102 ɢᴇᴏʀɢɪᴀ $1,609 $679 ʜᴀᴡᴀɪɪ $1,045 $411 ɪᴅᴀʜᴏ $1,164 $394 ɪʟʟɪɴᴏɪs $1,303 $464 ɪɴᴅɪᴀɴᴀ $1,165 $438 ɪᴏᴡᴀ $1,106 $304 ᴋᴀɴsᴀs $1,622 $483 ᴋᴇɴᴛᴜᴄᴋʏ $2,208 $973 ʟᴏᴜɪsɪᴀɴᴀ $2,379 $983 ᴍᴀɪɴᴇ $935 $374 ᴍᴀʀʏʟᴀɴᴅ $1,415 $691 ᴍᴀssᴀᴄʜᴜsᴇᴛᴛs $1,463 $606 ᴍɪᴄʜɪɢᴀɴ $3,096 $1,745 ᴍɪɴɴᴇsᴏᴛᴀ $1,319 $534 ᴍɪssɪssɪᴘᴘɪ $1,587 $621 ᴍɪssᴏᴜʀɪ $1,736 $614 ᴍᴏɴᴛᴀɴᴀ $1,534 $455 ɴᴇʙʀᴀsᴋᴀ $1,370 $386 ɴᴇᴠᴀᴅᴀ $1,974 $926 ɴᴇᴡ ʜᴀᴍᴘsʜɪʀᴇ $1,037 $384 ɴᴇᴡ ᴊᴇʀsᴇʏ $1,592 $820 ɴᴇᴡ ᴍᴇxɪᴄᴏ $1,334 $506 ɴᴇᴡ ʏᴏʀᴋ $1,704 $826 ɴᴏʀᴛʜ ᴄᴀʀᴏʟɪɴᴀ $955 $405 ɴᴏʀᴛʜ ᴅᴀᴋᴏᴛᴀ $1,379 $417 ᴏʜɪᴏ $1,047 $414 ᴏᴋʟᴀʜᴏᴍᴀ $1,787 $632 ᴏʀᴇɢᴏɴ $1,463 $727 ᴘᴇɴɴsʏʟᴠᴀɴɪᴀ $1,475 $514 ʀʜᴏᴅᴇ ɪsʟᴀɴᴅ $2,103 $1,002 sᴏᴜᴛʜ ᴄᴀʀᴏʟɪɴᴀ $1,414 $633 sᴏᴜᴛʜ ᴅᴀᴋᴏᴛᴀ $1,708 $385 ᴛᴇɴɴᴇssᴇᴇ $1,570 $473 ᴛᴇxᴀs $1,415 $576 ᴜᴛᴀʜ $1,306 $641 ᴠᴇʀᴍᴏɴᴛ $1,156 $367 ᴠɪʀɢɪɴɪᴀ $1,005 $380 ᴡᴀsʜɪɴɢᴛᴏɴ $1,368 $669 ᴡᴇsᴛ ᴠɪʀɢɪɴɪᴀ $1,536 $586 ᴡɪsᴄᴏɴsɪɴ $1,181 $385 ᴡʏᴏᴍɪɴɢ $1,439 $339

ᴅᴀᴛᴀ sᴏᴜʀᴄᴇ: ᴛʜᴇ ᴢᴇʙʀᴀ (2020).

ᴡʜᴇʀᴇ ᴅʀɪᴠᴇʀs ʟɪᴠᴇ ʜᴀs ᴀ ʜᴜɢᴇ ɪᴍᴘᴀᴄᴛ ᴏɴ ᴛʜᴇɪʀ ᴄᴀʀ ɪɴsᴜʀᴀɴᴄᴇ ʀᴀᴛᴇs — ᴊᴜsᴛ ᴀsᴋ ᴀɴʏᴏɴᴇ ᴡʜᴏ ʜᴀs ᴍᴏᴠᴇᴅ ᴀɴᴅ sᴇᴇɴ ᴛʜᴇɪʀ ᴘʀᴇᴍɪᴜᴍs ɢᴏ ᴡᴀʏ ᴜᴘ.

ᴍɪᴄʜɪɢᴀɴ ɪs ʙʏ ғᴀʀ ᴛʜᴇ ᴍᴏsᴛ ᴇxᴘᴇɴsɪᴠᴇ sᴛᴀᴛᴇ ғᴏʀ ᴄᴀʀ ɪɴsᴜʀᴀɴᴄᴇ, ᴡɪᴛʜ ʀᴀᴛᴇs ᴀʟᴍᴏsᴛ ᴛᴡɪᴄᴇ ᴀs ʜɪɢʜ ᴀs ᴛʜᴇ ɴᴀᴛɪᴏɴᴀʟ ᴀᴠᴇʀᴀɢᴇ. ᴇᴠᴇɴ ᴍɪɴɪᴍᴜᴍ ᴄᴏᴠᴇʀᴀɢᴇ ɪɴ ᴍɪᴄʜɪɢᴀɴ ᴄᴏsᴛs ᴍᴏʀᴇ ᴛʜᴀɴ ғᴜʟʟ ᴄᴏᴠᴇʀᴀɢᴇ ɪɴ ᴀʟʟ ʙᴜᴛ 10 ᴏᴛʜᴇʀ sᴛᴀᴛᴇs.

ᴍᴀɪɴᴇ ʜᴀs ᴛʜᴇ ʙᴇsᴛ ᴄᴀʀ ɪɴsᴜʀᴀɴᴄᴇ ʀᴀᴛᴇs ғᴏʀ ғᴜʟʟ ᴄᴏᴠᴇʀᴀɢᴇ ᴘᴏʟɪᴄɪᴇs ᴀᴛ ᴀɴ ᴀᴠᴇʀᴀɢᴇ ᴏғ $935. ғᴏʀ ᴍɪɴɪᴍᴜᴍ ᴄᴏᴠᴇʀᴀɢᴇ, ɪᴏᴡᴀ ɪs ᴛʜᴇ ᴄʟᴇᴀʀ ᴡɪɴɴᴇʀ ᴡɪᴛʜ ᴀɴ ᴀᴠᴇʀᴀɢᴇ ᴏғ ᴊᴜsᴛ $304.

ᴀᴠᴇʀᴀɢᴇ ᴄᴏsᴛ ᴏғ ᴄᴀʀ ɪɴsᴜʀᴀɴᴄᴇ ʙʏ ɪɴsᴜʀᴀɴᴄᴇ ᴄᴏᴍᴘᴀɴʏ ɪɴsᴜʀᴀɴᴄᴇ ᴄᴏᴍᴘᴀɴʏ ᴄʜᴇᴀᴘᴇsᴛ ʀᴀᴛᴇs ғᴏʀ ᴀ ᴍᴇᴅɪᴜᴍ ʟᴇᴠᴇʟ ᴏғ ᴄᴏᴠᴇʀᴀɢᴇ ᴜsᴀᴀ $885 ɢᴇɪᴄᴏ $1,168 sᴛᴀᴛᴇ ғᴀʀᴍ $1,234 ᴛʀᴀᴠᴇʟᴇʀs $1,267 ᴘʀᴏɢʀᴇssɪᴠᴇ $1,373 ᴀᴍᴇʀɪᴄᴀɴ ғᴀᴍɪʟʏ $1,391 ғᴀʀᴍᴇʀs $1,682 ɴᴀᴛɪᴏɴᴡɪᴅᴇ $1,864 ᴀʟʟsᴛᴀᴛᴇ $1,880

ᴅᴀᴛᴀ sᴏᴜʀᴄᴇ: ᴜ.s. ɴᴇᴡs (2020).

ᴄᴀᴜsᴇᴅ ʙʏ ᴀɴ ᴜɴɪɴsᴜʀᴇᴅ ᴍᴏᴛᴏʀɪsᴛ ᴏʀ sᴏᴍᴇᴏɴᴇ ᴡʜᴏ ᴅᴏᴇsɴ’ᴛ ʜᴀᴠᴇ ᴇɴᴏᴜɢʜ ɪɴsᴜʀᴀɴᴄᴇ ᴄᴏᴠᴇʀᴀɢᴇ.

ᴀ ʀᴇɢᴜʟᴀʀ ᴇxᴘᴇɴsᴇ ғᴏʀ ᴇᴠᴇʀʏ ᴅʀɪᴠᴇʀ

ᴡʜɪʟᴇ ᴍᴀɴʏ ғᴀᴄᴛᴏʀs ᴀʀᴇɴ’ᴛ ᴜɴᴅᴇʀ ᴅʀɪᴠᴇʀs’ ᴄᴏɴᴛʀᴏʟ, ᴛʜᴇʀᴇ ᴀʀᴇ sᴇᴠᴇʀᴀʟ ᴡᴀʏs ғᴏʀ ᴛʜᴇᴍ ᴛᴏ ɢᴇᴛ ʟᴏᴡᴇʀ ᴀᴜᴛᴏ ɪɴsᴜʀᴀɴᴄᴇ ᴄᴏsᴛs.

ᴛʜᴇʏ ᴄᴀɴ ᴄʜᴏᴏsᴇ ɪɴsᴜʀᴀɴᴄᴇ ᴄᴏᴍᴘᴀɴɪᴇs ᴛʜᴀᴛ ᴏғғᴇʀ ʟᴏᴡᴇʀ ᴘʀɪᴄᴇs ᴀɴᴅ ᴀᴅᴊᴜsᴛ ᴄᴏᴠᴇʀᴀɢᴇs ᴅᴇᴘᴇɴᴅɪɴɢ ᴏɴ ᴡʜᴇᴛʜᴇʀ ᴛʜᴇʏ ᴡᴀɴᴛ ᴍᴏʀᴇ ᴘʀᴏᴛᴇᴄᴛɪᴏɴ ᴏʀ ᴀ ᴄʜᴇᴀᴘᴇʀ ᴘʟᴀɴ, ғᴏʀ ᴇxᴀᴍᴘʟᴇ. ᴛʜᴇʏ ᴄᴀɴ ᴀʟsᴏ ᴡᴏʀᴋ ᴏɴ ɪᴍᴘʀᴏᴠɪɴɢ ᴄʀᴇᴅɪᴛ ᴛᴏ ϙᴜᴀʟɪғʏ ғᴏʀ ᴛʜᴇ ʙᴇsᴛ ᴘᴏssɪʙʟᴇ ʀᴀᴛᴇs. ᴇᴠᴇʀʏ ᴅʀɪᴠᴇʀ sʜᴏᴜʟᴅ ɢᴇᴛ ᴍᴜʟᴛɪᴘʟᴇ ᴀᴜᴛᴏ ɪɴsᴜʀᴀɴᴄᴇ ϙᴜᴏᴛᴇs.

ᴀɴᴅ, ᴏғ ᴄᴏᴜʀsᴇ, ᴅʀɪᴠᴇʀs ᴄᴏɴᴛʀᴏʟ ʜᴏᴡ ᴛʜᴇʏ ᴅʀɪᴠᴇ, ᴡʜɪᴄʜ ɪs ᴏғᴛᴇɴ ᴛʜᴇ ᴍᴏsᴛ ɪᴍᴘᴏʀᴛᴀɴᴛ ғᴀᴄᴛᴏʀ ɪɴ ᴛʜᴇ ᴄᴏsᴛ ᴏғ ᴛʜᴇɪʀ ᴄᴀʀ ɪɴsᴜʀᴀɴᴄᴇ ᴘᴏʟɪᴄʏ. ᴛʜᴇ ᴏɴᴇs ᴡʜᴏ ғᴏʟʟᴏᴡ ᴛʜᴇ ʀᴜʟᴇs ᴏғ ᴛʜᴇ ʀᴏᴀᴅ ᴀɴᴅ ᴀᴠᴏɪᴅ ᴀᴄᴄɪᴅᴇɴᴛs ʙᴇɴᴇғɪᴛ ɪɴ ᴛʜᴇ ʟᴏɴɢ ʀᴜɴ ʙʏ sᴄᴏʀɪɴɢ ᴄʜᴇᴀᴘᴇʀ ɪɴsᴜʀᴀɴᴄᴇ.