Average American Spends More than $80,000 on Car Insurance in Their Lifetime

February 8, 2011 No Comments »

money

The average American spends a staggering $84,388 on car insurance in their lifetime.

No, that’s not a typo. That’s your bill, according to the latest analysis of car insurance quotes by Insurance.com.

The company arrived at this figure using the assumption that people buy their first car at 21, get married at 27, and then add two teen children to their auto insurance policy between the ages of 46 and 50.


[Compare rates from the leading car insurance companies in your area.]

The real rise in insurance rates happens when teen drivers hit the road, as we all know the cost of teen car insurance can be astronomical.

This has to do with how insurance rates are determined, as those with little experience and a tendency to drive erratically pay the price in extra insurance premium.

This figure also takes into account a variety of drivers with all types of insurance claims and driving records.

The good news, I guess, is that you may pay substantially less than this if you are a good driver and force your 2.5 kids to pay for their own insurance (like I did, thanks to McDonalds and various pizza delivery companies).

But to ensure you pay less than $80,000, try using an independent insurance agent, who can obtain insurance quotes from multiple companies all at once.

And be sure to ask about every available discount, such as the good driver discount, the good student discount, and even the hybrid car insurance discount!

Related: How can I lower my car insurance rate?

Looking for health insurance quotes?
Or homeowners insurance quotes?
Or life insurance quotes?



Leave a Response