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

How much the average American spends on auto insurance might surprise you. The average American spends a staggering $84,388 on car insurance in their lifetime, according to Insurance.com. The company arrived at this figure assuming that drivers buy their first car at 21, get married at 27, and add two teen drivers to their policy between the ages of 46 and 50. Use our free insurance comparison tool below to see how your average rates compare to this study.

Free Insurance Comparison

Compare Quotes From Top Companies and Save

Secured with SHA-256 Encryption

Shuman Roy is an entrepreneur, business owner, and musician. He started RoysNoys, LLC in 2013 as a music production and education service company. He also offers small business consulting and advisory services to help businesses get from start-up mode to turn-key operations. Shuman earned his M.B.A from the Stern School of Business in 2001 and has an undergraduate degree from Manhattan College in ...

Full Bio →

Written by Shuman Roy
Content Writer & Entrepreneur

Joel Ohman is the CEO of a private equity-backed digital media company. He is a CERTIFIED FINANCIAL PLANNER™, author, angel investor, and serial entrepreneur who loves creating new things, whether books or businesses. He has also previously served as the founder and resident CFP® of a national insurance agency, Real Time Health Quotes. He has an MBA from the University of South Florida. Joel...

Full Bio →

Reviewed by Joel Ohman
Founder, CFP®

UPDATED: Jul 19, 2021

Advertiser Disclosure

It’s all about you. We want to help you make the right coverage choices.

Advertiser Disclosure: We strive to help you make confident insurance decisions. Comparison shopping should be easy. We are not affiliated with any one insurance provider and cannot guarantee quotes from any single provider. Our insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different companies please enter your ZIP code on this page to use the free quote tool. The more quotes you compare, the more chances to save.

Editorial Guidelines: We are a free online resource for anyone interested in learning more about life insurance. Our goal is to be an objective, third-party resource for everything life insurance related. We update our site regularly, and all content is reviewed by life insurance experts.

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.

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!