Guide · cited public sources
Whether you pay monthly or every six months, insurance is easier to compare as one yearly number. Use the public average only as context — type the premium on your declarations page.
The row below is the BLS 2024 average annual expenditure on vehicle insurance for all consumer units. It is not a quote for your ZIP code, driving record, or vehicle.
Combined total of the rows above: $4,404/year (about $367/month). Mix of cited averages and examples — not your household.
BLS reports average vehicle insurance spending of $1,993 per consumer unit in 2024. If you pay $166 per month, that average year is the same dollars — the calculator just makes the multiplication obvious.
Six-month policies: multiply one installment by two for a simple annual figure, or enter the installment with a monthly cadence only if you truly pay that amount every month.
Transportation overall averaged $13,318 in 2024 in the same BLS release, including purchases, gasoline, and other vehicle expenses. Pair this page with the car annual-cost guide when you want payment, fuel, parking, and maintenance in one list.
Annualize the premium you actually pay.
According to the BLS Consumer Expenditures survey for 2024, average vehicle insurance spending was $1,993 per consumer unit. Your quote can be much higher or lower.
Large bills like rent and insurance vary too widely to pretend a single example is typical for you. The calculator leaves those lines blank on purpose.
Annual Bills Plan
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$5
one time
Bills you might be forgetting
A checklist of common irregular costs
Monthly set-aside plan
What to save, with a 12-month calendar
Needs vs wants
Your split next to the 50/30/20 guideline
Ways to save and a 5-year outlook
Plus a Scenario Lab to test changes
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Insurance, gas, parking: the real cost of owning a car.
Read guide →Electric, gas, water, and phone service as yearly totals, using BLS and EIA public averages you can replace with your bill.
Read guide →How monthly set-asides cover yearly insurance, registration, and memberships — with a path into Per Year’s calendar sample.
Read guide →