The cost of your insurance will depend on a variety of factors; your age, gender, place of residence, driving record, the type of vehicle you drive, how much you drive, the type of coverage you select and the amount of deductibles you choose.
Generally, auto insurance is the least expensive type of insurance. Liability, which covers damages and bodily injury caused to other people and property, is typically the type of coverage required by state law and often the cheapest range of coverage.
In most states, it is also compulsory to have personal injury protection (PIP), which pays for medical expenses and lost wages no matter who is at fault in an accident.
If the vehicle is over fifteen years old or has a high value, it might make sense to opt for a more comprehensive coverage. This could include collision and comprehensive coverage, which pays for repairs or replacement of your vehicle if it is damaged, and other types of coverage such as uninsured or underinsured motorist.
Cost-effective options, such as raising your deductible, increasing coverage limits, or buying home and auto insurance from the same agent/company, may help reduce what you pay for your insurance. Before choosing a policy, it is advisable to shop around and compare coverage and prices from a variety of insurers to ensure you're getting the best policy for your individual needs.
