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Car Insurance: Cost Of Different Providers

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Car Insurance: Cost Of Different Providers

The average cost of car insurance in the united states is typically influenced by a variety of factors, with the larger factor being the state in which the car insurance is issued. The average cost of insurance is about $1,500 per year and that amounts to $125 each month. As stated earlier, the cost of car insurance is something that can vary widely depending on a host of rating factors. The aim of this article is to provide an overview of car insurance by collecting rates and information from car insurance firms.

What company can give me the cheapest car insurance?

The following are the prices the car insurance companies charge for the same amount of cover:

Farmers $822
Allstate $1011
GEICO $602
Nationwide $714
State Farm $647
Progressive $809
USAA $545
As you can see by the figures above, USAA gave the cheapest price on the cover. As it is with car insurance, the more coverage you have the more you pay in premiums. The average car insurance policy in America comes with $50000 to $100000 of injury, as well as $50000 worth of property damage cover with comprehensive and collision deductibles valued at $500. There might be need for you to get gap insurance if you are financing or leasing your car. The average car insurance rate rated at coverage levels across the country are:

 State Minimum insurance: Monthly premium of $52
 50 to100 to 50 BI/PD: Monthly premium of $61
 100 to 300 to 100 BI/PD: Monthly premium of $69
 State minimum with Coll DED/ 1000 Comp: Monthly premium of $108
 50 to 100 to 50 BI-PD with 1000 Comp: Monthly premium of $112
 100 to 300 to 100 BI-PD with 1000 Comp: Monthly premium of $125

What this means is that the more coverage you have is reflected by how much your premiums are. That being said, it is typically recommended to have as much liability coverage as plausible to make sure every one of your assets remain protected. If your car is of considerable value, or you would like to sell it down the line, it is important to have collision and comprehensive coverage.

What do car insurance companies in Biloxi take into account?

Car insurance in Mississippi, particularly Biloxi is expensive. The state has an average car insurance value of $1800 per year which is more than 20% higher than the national average. As stated earlier there are a lot of factors that make this so, with the insured party’s gender, age, credit, driving history and marital status all having an influence on how much they pay. This section hopes to highlight how much certain demographics pay more or less for a similar policy.

Age

As we get older, the rates we pay for car insurance changes with ups. Generally, car insurance is expensive for younger drivers, as the companies deem inexperienced drivers to be riskier. In Biloxi, Mississippi, car insurance for a driver ages 16 years costs an annual fee of $8989, while a driver between the ages of 50 to 60 is charged $1497. If you are trying to get insurance for a teen motorist, the state of Mississippi would be the 6 th most expensive place to buy insurance for that young driver.

 16 year olds pay $8,998
 17 year olds pay $8,083
 18 year olds pay $6,726
 19 year olds pay $4,416
 20 year olds pay $2,430
 30 year olds pay $1,759
 40 year olds pay $1,593
 50 year olds pay $1,497
 60s year olds pay $1,495

Gender

While gender does not really have a large impact on how much you pay for car insurance as the driver’s age or location, it does play a part in the final price. Men tend to pay an annual average of $1797.73, while women pay a lower annual average of $1751.90.

Marital status

On average married individuals tend to get a better deal on their car insurance. In the state of Mississippi, for example, married driers save at least $150 each year on their car insurance policies. This amount is certainly more than the nation’s average of $76.

 Married individuals tend to pay $1643 per year
 Divorced individuals pay $1754 per year
 Widowed individuals pay $1718 per year

Divorced drivers in the state of Mississippi have to pay the 7 th most expensive premiums in the country.

Credit tier

Car insurance providers take into account a person’s credit score as a means of figuring out if the customer is going to be reliable. Statistics state that Biloxi drivers that have great credit are usually more reliable than those that do not, as they are least likely to file for claims. A Biloxi motorist with great credit can usually save about $1845 each year in car insurance premiums over a driver with bad or terrible credit.

 If you have a credit score between 300 to 579, you end up paying $3410 each year
 If you have a credit score between 580 t0 669, you end up paying less at $2816 per year
 If you have a credit score between 670 to 739, you end up paying $2305 per year
 If you have a credit score of 740 to 799, you end up paying $1883 per year
 If you have a credit score of 800 and above, you pay $1555 per year.

What this means is that it can be difficult for those with bad credit to find cheaper insurance.

What is the average car insurance cost for Biloxi drivers termed high risk?

If you had an accident and it has been determined that you were at fault, or you were deemed to be guilty of a driving infraction, the price you pay for car insurance is bound to increase, when you have more offences, your insurance premiums skyrocket. In Mississippi, and Biloxi in particular, being at fault for the very first time will increase your car insurance payments by $730 yearly. If you happen to have a DUI conviction, which is an extremely serious driving crime, you could end up paying $800 more on your car insurance.

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