Average American Can Expect to Pay $84,388 in Car Insurance Over Lifetime

Amy Tokic
by Amy Tokic

If you’ve ever wondered how much you’ll pay for auto insurance over a lifetime, we’ve got a number for you, and if you don’t want to get depressed, you may want to avert your eyes.

According to Insurance.com, the average American can expect to pay $84,388 for car insurance over a lifetime. For the purposes of this study, that would be a driver who first purchased insurance at age 21, married at 27, briefly insured two teens and stopped driving at age 75. Over this lifespan, it also includes various claims, including accidents and other incidents.

Just for reference, here’s some other costs per lifetime you can expect to shell out:

Athletic shoes at one pair annually (ages 16-75): $2,737.01 for males, $2,597.18 for females

Pet insurance for one dog (12 years): $4,766

Trip to Disney World for a family of four: $5,026

Four years of college: $30,420

NYC monthly subway pass (ages 16 to 75): $63,012

New car every seven years (ages 22 to75): $150,065.71

If you’re looking to lower your lifetime insurance costs, there are a few easy steps to take. And according to Sandra Spann, a spokeswoman for American Family Insurance, to key to driving down your lifetime insurance costs is to “Obey the traffic laws and stay ticket-free.”

[Source: Insurance.com]

Amy Tokic
Amy Tokic

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