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.
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UPDATED: Jan 21, 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 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 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).
Related: How can I lower my car insurance rate?