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The State of Car Insurance 2023: Car Prices Dropping, Insurance Rates Stay High
Amzeal News/10517811
NEWPORT BEACH, Calif. - Amzeal -- The average cost of full coverage car insurance for 2023 is $233.60 per month, based on SmartFinancial data, with a wide range based on which state drivers live in. For instance, rates in Idaho are as low as $59.46 per month and as high as $400 a month in Florida.[1]
The good news is that car prices are prices are expected to drop by 10%. Used car prices are dropping even more. [2]
Car Prices Are Dropping, Insurance Remains High Car prices were up 4.2% year-over-year in January 2023, and while they are dropping they remain 30% higher than they were before the pandemic. The prices on used cars have already already peaked and fall
State 2023 Average Car Insurance Rate 2022 Average Car Insurance Rate
AL $137.19 $123.75
More on Amzeal News
AR $124.47 $110.61
AZ $254.14 $135.27
CA $178.76 $181.03
CO $264.13 $154.31
CT $295.39 $165.05
DC $175.70 $195.14
DE $123.74 $144.63
FL $400.00 $254.58
See how the rates in your state compare (for a full list visit our article at https://smartfinancial.com/state-of-car-insurance
The good news is that car prices are prices are expected to drop by 10%. Used car prices are dropping even more. [2]
Car Prices Are Dropping, Insurance Remains High Car prices were up 4.2% year-over-year in January 2023, and while they are dropping they remain 30% higher than they were before the pandemic. The prices on used cars have already already peaked and fall
State 2023 Average Car Insurance Rate 2022 Average Car Insurance Rate
AL $137.19 $123.75
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AR $124.47 $110.61
AZ $254.14 $135.27
CA $178.76 $181.03
CO $264.13 $154.31
CT $295.39 $165.05
DC $175.70 $195.14
DE $123.74 $144.63
FL $400.00 $254.58
See how the rates in your state compare (for a full list visit our article at https://smartfinancial.com/state-of-car-insurance
Source: SmartFinancial
Filed Under: Financial
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