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The average cost to own and operate a new vehicle in 2022 was $10,728, according to a study from AAA, and for many a decent-sized chunk of those costs are from auto insurance. The study showed the average cost for full-coverage insurance across all types of vehicles (including hybrid and electric) was $1,588.
Of course, auto insurance premium costs vary based on several factors, including where the insured lives, their age, driving history, car make and model and how much the vehicle is driven.
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Brittney Meredith-Miller
Brittney Meredith-Miller is assistant editor of PropertyCasualty360.com. She can be reached at [email protected].
