Average Insurance Costs:
- Annual Premium: Approximately $610 for state-required minimum liability coverage. freeway.com
- Monthly Premium: Around $51 per month.
Factors Influencing Premiums:
- Driving Record: A clean driving history can lead to lower rates, while violations or accidents may increase premiums.
- Location: Insurance costs can vary by state and city due to factors like traffic density, accident rates, and local regulations.
- Age and Gender: Younger drivers and males often face higher premiums due to statistical risk factors.
- Credit Score: A higher credit score can result in lower insurance rates, as it’s often viewed as an indicator of financial responsibility.
Recommendations:
- Compare Quotes: Obtain quotes from multiple insurers to find the best rate tailored to your circumstances.
- Assess Coverage Needs: While liability insurance covers damages to others in an accident, it doesn’t cover damages to your own vehicle. Ensure that this level of coverage meets your needs.
- Consider Discounts: Inquire about available discounts, such as safe driver discounts, multi-policy bundling, or discounts for safety features equipped in your Maxima.
 (36 year old male , Single , Colorado ) |
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| Year/Make Model: 2005 Nissan Maxima Sedan |
| Ownership Status: 5+ years |
| Discounts: Paperless and Electronic Funds Transfer |
| Selected Coverages With Progressive |
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| Bodily Injury Liability: $25,000 each person/ $50,000 each accident |
| Property Damage Liability: $15,000 each accident |
| Uninsured Motorist Bodily Injury: Rejected Comprehensive: N/A Collision: N/A |
| Other Rejected Coverages: Medical Payments |
One of our Colorado clients was in need of the cheapest liability insurance we could find! As we looked around we found that Progressive came in at the cheapest with monthly payments of $163.91. He was able to obtain this premium with discounts such as paperless and electronic funds transfer! He also opted out of getting Uninsured Motorist as well as Medical Payments.
Total 6 Month Premium: $983.50
Monthly Installments: $163.91