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 ...

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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...

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Reviewed by Joel Ohman
Founder, CFP® Joel Ohman

UPDATED: Jul 19, 2021

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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

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!

Related: How can I lower my car insurance rate?