Insurance Investigation: How Much Is the Average Insurance Cost per Month?

Costs of insurance are almost always specific to an individual. The cost of your insurance is based on where you live, how old you are, what plan you choose, and more.

When you plan to insure yourself, you should know how much you will need to pay per month or per year to be covered.

If you’re curious about the average insurance cost per month, we are here to help you out.

Keep reading to find out the average insurance costs in 2021 for your home, car, and health!

Average Homeowner’s Insurance Cost

On average, the price of homeowner’s insurance is about $1,300 yearly or $110 per month. 

Homeowner’s insurance intends to protect you and your home from almost any kind of disaster that might damage your home. Repairs on your home can become costly after destruction from fire or water damage from a flood. 

The cost of your homeowner’s insurance will depend on the state you live in, your insurance company, the characteristics of your home, and more.

Average Car Insurance Cost

Car insurance, on average, costs $1590 per year or closer to $130 per month. This average insurance cost varies significantly from person to person and plan to plan. 

Deciding between a minimum and full coverage plan will help you decide what car insurance would cost for you. Minimum coverage is always the cheaper of the two options.

However, choosing full coverage ensures that you and your car are better protected. 

Be aware that many factors will change the cost of your car insurance including the following. 

  • Your age and gender
  • The type of car you drive
  • Your state
  • Your insurance company
  • Your driving history 
  • Your credit history
  • Your marital status

Use these to compare rates between different insurance companies. Then decide who to insure yourself with.

Average Cost of Health Insurance 

Health insurance costs around $500 per month on average. This price has risen dramatically over the last decade. Depending on your circumstances, this price may be different for you. 

Many people rely on a group plan sponsored by where they work to provide them with health insurance. When you are self-employed, in-between jobs or your job doesn’t have this benefit you have to figure it out for yourself.

You have to decide what kind of plan you need. You may need one that covers your whole family or only you. You also decide how much coverage you need. 

If you’re looking for quality and affordable health insurance check out National Insurance Direct. The providers of Hawaii COBRA Insurance. 

The Cobra insurance cost depends on your situation. They have you covered even if you are in a tough situation. Such as being self-employed, going through a divorce, temporarily losing your current health insurance, and more.

What’s Your Average Insurance Cost? 

We hope this guide makes you feel more in the know about the average insurance cost.  

Choosing the right insurance can be overwhelming. When you know the average cost and what you need from your company you can make a more informed decision.

Explore the rest of our blog to read more on this topic or discover other interesting articles. 

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