The average cost of auto insurance

Written by rick paulas
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The average cost of auto insurance
Auto insurance is a must, but the cost can vary widely. (luxury car - model toy car image by alma_sacra from

To drive legally in the United States, the driver must have purchased auto insurance. This will protect her from liability in case she gets into an accident. The pricing of auto insurance is an inexact science, as insurers try to predict how much to charge based on factors such as age, gender, lifestyle and driving skill. As such, insurance costs can fluctuate widely on a year-to-year basis.


The average yearly cost of auto insurance was roughly £1,007 as of May 2010. The average price was £1,040 in 2008, and it was £1,128 in 2009. Many factors can contribute to the fluctuation in the cost of auto insurance, including where you live (certain areas are more prone to car accidents), the type of vehicle you drive (certain cars are more apt to be involved in accidents), credit rating (insurance companies believe having poor credit indicates a higher risk of accidents) and education (insurers believe those with more education are less likely to have accidents).

Average Price for Teens

Teenagers pay the highest premiums because compared with miles driven, teenagers are involved in the highest percentage of traffic accidents of any other age group. The average yearly price for teenagers was £1,487 in May 2010. It was £1,805 in 2009. The next-highest premiums are ages 18 to 25, while the "safest" group--according to insurance companies--is between 50 and 65 years old.

Average Price for Seniors

Drivers older than 65 pay the lowest average auto insurance premiums, because that group has the fewest accidents, mostly because they drive the least. Their yearly average cost for auto insurance was £820 as of May 2010. Although their price can fluctuate year to year--in 2009, it was £856--the fluctuation is smaller.

Average Price for Married Couples

Married couples generally pay a lower premium than single drivers, but that is mostly because they are older than beginning drivers. The average yearly price of married drivers was £891 in May 2010.

Males vs. Females

Males pay higher premiums than females on average. This is because statistics show males having a higher percentage of accidents. This mostly affects drivers younger than 25; yearly costs for males and females come closer as the drivers get older. However, throughout the years the gap between premiums for men and women has closed dramatically, because more women are driving.

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