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How can I calculate monthly insurance payments on a car?

I’ve been wanting to get a car for a while now, but I’m on a budget, and I know insurance can really cost a lot. How can I calculate monthly insurance payments on a car before I buy it?

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Chloe Jenkins · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
Figuring out your payments before you buy is an incredibly smart move! To calculate monthly insurance payments on a car, you can check out your potential insurers’ websites; most insurance websites include an insurance calculator so that you can easily see how much your insurance might cost with them. However, if you would rather do your own calculations, make sure to factor in the following:
  • What are your top choices for vehicles? Consider the make, model, year, mileage, and any safety or anti-theft features.
  • What does your personal record look like? Someone with a
    clean driving record
    will likely pay less for their insurance than someone with a DUI or speeding ticket, and someone with a lower credit score will likely pay more. Consider your personal characteristics, driving record, and credit score to make sure you get an accurate estimate.
  • How much coverage do you need? If you’re buying a new car, it’s a good idea to include
    collision
    and
    comprehensive coverage
    . Collision and comprehensive coverage will take care of all accident- and non-accident-related damage to your car—so if you’re getting a high-value car, it’s definitely worth considering.
  • The average price of quotes when using the above information. A good rule of thumb is to get three quotes from three different providers to get a sense of the average cost. However, if you want to make sure you easily get the best deal on the coverage you need, you can also simply check the
    Jerry
    app—we’ll get you free quotes from over 50 of the nation’s top competitive insurance companies, and once you pick a plan, we can help sign you up for your new policy in just minutes!
Best of luck with insurance shopping—you’ve got this!
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