Is there a way I can manually calculate my car insurance premium?

I’ve always been a do-it-yourself kind of guy and wondered if I could manually calculate what my car insurance premium should be? I figured this way I can make sure I’m not overpaying. Can this be done?

Answer
Unfortunately, you cannot manually calculate what your car insurance premium will be, but there are many tools, like Jerry, that can help you compare policies by generating quotes from up to 50+ car insurance companies. Jerry can even purchase the policy for you, help cancel your previous policy, and answer any car insurance questions you may have. The average Jerry driver saves $879 a year on car insurance!
The reason you cannot manually calculate your premium is because each car insurance company has a different way of generating premiums based on rates that are approved by the state. They also look at many other factors such as:
  • Age
  • Gender
  • Location
  • Vehicle
  • Driving history
  • Credit
These are only a few of the factors taken into account when generating car insurance premiums and they can be weighted differently depending on which car insurance company you are shopping with which is why it is always a smart idea to shop around before purchasing car insurance.
Once you have a quote set up, most insurance providers will show a breakdown of payment plan options that include any possible state or processing fees. This is another reason why manually calculating insurance isn’t possible.
Jack Walsh
Answered on Oct 22, 2021
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