Car Insurance Rates Have Surged, and Where You Live Matters

Does your state have the cheapest, or most expensive, car insurance rates?

Vehicles on the interstate with city skyline in distant background.
(Image credit: Getty Images)

Car insurance rates have increased almost 14% in 2023 from a year ago, bringing the national average for full coverage car insurance to $2,014 this year from $1,771in 2022, according to Bankrate. Additionally, Forbes Advisor estimated the national average cost for car insurance to be even higher, at $2,150 per year.

Thanks to this large increase, Americans are already spending nearly 3% of their income on auto insurance alone. However, since car insurance rates vary from state to state, how much you’ll pay ultimately depends on where you live, for better or worse.

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Erin Bendig
Personal Finance Writer

Erin pairs personal experience with research and is passionate about sharing personal finance advice with others. Previously, she was a freelancer focusing on the credit card side of finance, but has branched out since then to cover other aspects of personal finance. Erin is well-versed in traditional media with reporting, interviewing and research, as well as using graphic design and video and audio storytelling to share with her readers.