Auto Insurance Cost Trended Down as Year Closed
Average rates varied by area, though, with some spots rising.
New York experienced the highest auto insurance rates for the month at $282 for overall coverage.
Pexels/Jonathan Cooper
The cost to insure a vehicle was flat in December nationally, but some states experienced increases, at least for some coverage aspects.
Rates stayed relatively steady in the last six months of 2024 after rising in 2023 and the first half of last year, according to Massachusetts-based insurance comparison-shopping website Insurify.
At the end of last year, full coverage cost an average of $193 per month on a nationwide basis, unchanged month-over-month. Liability-only policies averaged $105 per month, also unchanged.
But there were outliers in both directions. Full coverage in Washington, D.C., rose a painful 12% to $283, while in Louisiana the average full-coverage cost fell about 3% to $235.
Insurance rates vary by area based on factors such as weather, traffic patterns and crash rates.
New York experienced the highest auto insurance rates for the month at $282 for overall coverage, followed by Maryland, South Carolina, Nevada and Washington, D.C.
More Industry
Toyota Financial Services Adds to HQ
The subsidiary says the new Texas facility is designed to foster collaboration and innovation with the aim of future growth.
Read More →
Four-Figure Loan Payments on the Rise
A LendingTree analysis found that location, age and credit score play a role in the rising amount of auto loan borrowers who make monthly payments of $1,000 or more.
Read More →
Dealer Debrief: New-Vehicle Sales Update
In this week's debrief, host Lauren Lawrence discusses the state of new-vehicle sales.
Read More →
Color Your Ride
The first vehicles by startup automaker Slate will come with the option of a medley of wraps in five colors familiar from your childhood.
Read More →
China Leads Global EV Sales
Globally, electric-vehicle sales are continuing their upward trajectory, buoyed by Chinese exports, as the North American region continues to lag behind.
Read More →
How Defection Data is Bridging the Dealership Conversion Gap
Lead volume is flat, cross-shopping is up and brand loyalty is in retreat. As confident sales teams keep losing buyers they thought they had, daily industry sales data is showing dealers exactly where their funnel is breaking and how to fix it without buying a single new lead.
Read More →
Optimized Charging Could Reduce Costs
According to an Alliance for Automotive Innovation analysis, optimized EV charging could cut costs for drivers and improve grid infrastructure - potential adoption incentives.
Read More →
June Automotive Boon?
A forecast for this month’s new-vehicle sales tells a familiar 2026 story: Year-over-year comparisons must be made in light of last year’s aberrations.
Read More →
Safety Improvements Save Lives
Over the past 30 years, automakers have made many safety tweaks to their vehicles. An insurance industry testing group says that's largely thanks to its crash-worthiness program and that prevented fatalities are the clear result.
Read More →
Indiana Dealership Changes Hands
The Chicago-area CDJR store has been in business for nearly 70 years and is now part of a fast-growing automotive group spread across six states.
Read More →