How do I calculate the monthly insurance payment on my car?

I'm leaving my current insurance provider because their rates are too high in the state I moved to. How do I find car insurance online and know how much I’m going to be paying?

Answer
Switching insurance providers can seem like a strenuous process. However, using a service like Jerry can help you compare car insurance quotes online to save the time you would spend contacting each provider individually.
While you can’t calculate your premiums on your own, you can estimate whether you’ll pay more or less than average before signing on to a policy. Factors that affect your premium costs include:
  • Your car: the more expensive the car, the higher your rates will be
  • Age and gender: young and elderly drivers will pay more for insurance. Women often pay more than men over a lifetime (not necessarily in the short run)
  • Driving and claim history: if you have more accidents or violations on your record, you will pay more for insurance
  • Geographic location: some states face higher premiums (e.g., Michigan, Louisiana, Florida) than others (i.e. North Carolina, Virginia, New Hampshire)
  • Credit score: a better credit score may score you lower rates
The best way to find the best rates online is to check with as many providers as you can. Even though your history may predispose you to higher premiums, each provider uses its own algorithm, and you might be surprised to learn what kinds of savings are available to you.
That’s why Jerry allows you to compare quotes from up to 50 top insurers (and did we mention this service is free?)!
Carlos Kirby
Answered on Nov 04, 2021
Carlos has a BA in Media Production and Marketing from Loyola University of Chicago, as well as almost 5 years of content editing and writing experience. He has operated his own freelance creative studio over the past 5 years and aspires to be a Creative Director for an Creative Agency. He is currently located in Chicago, IL and enjoys creating digital art and taking bike rides along the lakefront during his free time!
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