Most Expensive Car Insurance (2024) (2024)

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We analyzed cost data from Quadrant Information Services to find car insurance providers’ average rates. In the sections below, we’ll examine the most expensive providers for liability and full-coverage insurance, the most expensive states for auto insurance and the cars that cost the most to insure.

The average rates below are based on the driving profile of a married 35-year-old with a clean driving record and good credit.

10 Most Expensive Liability Car Insurance Providers

Based on our data, we found Key Insurance Co. and The Hanover Insurance Group typically offer the most expensive liability car insurance on average. Key Insurance Co. charges an average of $272 per month or $3,261 per year, while The Hanover Insurance Group liability coverage costs an average of $183 per month or $2,196 per year.

Our review team reached out to Key Insurance Co. and The Hanover Insurance Group for comment on the average cost of their insurance coverage but did not receive responses.

The national average for liability coverage is $52 per month or $627 per year.

10 Most Expensive Full-Coverage Car Insurance Providers

According to our estimates, The Hanover Insurance Group and American International offer the most expensive full coverage on average. The average cost of full coverage from The Hanover Insurance Group is $609 per month or $7,302 per year, while American International’s full-coverage policies average $322 per month or $3,862 per year.

Both companies tend to be quite a bit more expensive than the national average for full coverage, which is $167 per month or $2,008 per year.

Most Expensive Insurance by State

In researching the states with the most expensive car insurance, we determined that Michigan and Connecticut topped the list for both liability and full-coverage insurance.

10 Most Expensive States for Liability Insurance

In Florida, liability insurance costs an average $115 per month or $1,385 per year. In Michigan, a liability insurance policy costs an average of $113 per month or $1,360 per year.

10 Most Expensive States for Full-Coverage Insurance

Michigan and Florida are also the most expensive states for full-coverage insurance on average. In Michigan, a full-coverage policy costs an average of $304 per month or $3,643 per year, while full-coverage insurance in Florida averages $270 per month or $3,244 per year.

Most Expensive Cars To Insure by Make and Model

Sports cars and high-end luxury vehicles are generally more expensive to insure. These cars have much higher repair costs, so insurance companies see them as higher risks.

10 Most Expensive Cars To Insure by Model

Our research on average insurance rates for 60 popular models found that the Dodge Charger tended to be the most expensive 2022 model to insure. The average cost for a full-coverage insurance policy on a Dodge Charger is $354 per month or $4,242 per year.

Our review team reached out to Dodge and Tesla for comment on the average costs to insure their vehicles but did not receive responses.

17 Most Expensive Cars To Insure by Automaker

Our analysis showed that, on average, Dodge and Tesla have the most expensive car insurance among 17 popular brands. Full coverage on Dodge vehicles costs an average of $354 per month or $4,242 per year, while full coverage on a Tesla vehicle averages to $251 per month or $3,007 per year.

*Based off 2022 cost data

When calculating car insurance quotes, insurance agents weigh several factors.

These are the factors that affect your car insurance rates:

• Location: Auto insurance premiums tend to be higher in areas with high rates of car accidents or crimes like vandalism and theft.
• Age: Younger drivers typically pay higher rates than older, more experienced drivers.
• Driving record: Motorists who have clean driving histories usually pay less for coverage than drivers with recent speeding tickets, traffic violations or DUIs.
• Credit history: Insurance providers view drivers with low credit scores as higher risks, so they often pay higher insurance premiums in most states.
• Gender: The average car insurance cost for men is generally higher in most states because men tend to get into more car accidents than women.
• Marital status: Single drivers have a harder time finding low-cost auto insurance than married drivers.
• Type of vehicle: New cars tend to cost more to insure because repairing them is more expensive. The same goes for high-end vehicles like Porsches and Audis.

According to our rate averages, the most expensive car insurance often comes from The Hanover Insurance Group. The company’s average rates for both liability and full-coverage insurance can be more than 400% higher than the national average.

On average, Michigan and Florida are the most expensive states for both liability and full coverage. Our research on average rates found that Dodge tends to be the automaker with the most expensive coverage and that the Dodge Charger has the most expensive car insurance of any model.

Top Auto Insurance Recommendations

If you want to avoid higher premiums, we suggest getting quotes from Geico and Erie Insurance. Both providers’ average rates are lower than the national averages for liability and full coverage.

Because consumers rely on us to provide objective and accurate information, we created a comprehensive rating system to formulate our rankings of the best car insurance companies. We collected data on dozens of auto insurance providers to grade the companies on a wide range of ranking factors. The end result was an overall rating for each provider, with the insurers that scored the most points topping the list.

Here are the factors our ratings take into account:

• Cost: Auto insurance rate estimates generated by Quadrant Information Services and discount opportunities were both taken into consideration.
• Coverage: Companies that offer a variety of choices for insurance coverage are more likely to meet consumer needs.
• Reputation and experience: Our research team considered market share, ratings from industry experts and years in business when giving this score.
• Availability: Auto insurance companies with greater state availability and few eligibility requirements scored highest in this category.
• Customer experience: This score is based on volume of complaints reported by the NAIC and customer satisfaction ratings reported by J.D. Power. We also considered the responsiveness, friendliness and helpfulness of each insurance company’s customer service team based on our own shopper analysis.

Our credentials:

• 800 hours researched
• 45 companies reviewed
• 8,500+ consumers surveyed

*Data accurate at time of publication.