Car Insurance Calculator - Easily Calculate Auto Insurance Coverage
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How the Calculator Works

Did you know that if you’re in a car accident, you are personally responsible for any costs that exceed your insurance coverage amounts? And that protecting yourself—and your assets—is as easy as having the right amount of car insurance?

You don’t want to be underinsured and at-risk for huge out-of-pocket costs in the event of an accident. But you also don’t want to be over-insured, paying too much premium

That’s why we want you to know just how much car insurance is right for your needs. Ultimately, having the right amount of car insurance comes down to the dollar amount that it would cost to cover the total value of your assets (the things you own).

Our car insurance calculator removes the guesswork by recommending how much car insurance coverage you need based on your current financial assets. All you have to do is answer a few simple questions aimed at helping to indicate the estimated value of those assets. If you answer honestly, you can be confident that you are paying for the right amount of car insurance.

WHAT GOES INTO DETERMINING HOW 
MUCH CAR INSURANCE YOU NEED?

WHERE YOU LIVE

Each state has different car insurance requirements. For example, 12 states require all car owners to have no-fault insurance. This means that your car insurance policy will pay out regardless of which driver was at fault.

Additionally, some states require drivers to carry uninsured and underinsured car insurance coverage at the same limits as the state’s liability minimums. For example, if your state requires you to carry 
bodily injury liability at $50,000/$100,000 a year, you may also have 
to carry uninsured/underinsured coverage at $50,000/$100,000.

Knowing your ZIP code lets us tailor a recommendation to where 
you live. Car insurance requirements are based not only on the demographics of your area, but environmental factors, too. If you live in an area with high car theft rates or extreme weather that could damage your car, you may want to consider including additional coverage types on your insurance policy to protect against these events.

HOW YOU PAY FOR YOUR CAR

While the value of your vehicle doesn’t change based on how your pay for it, you may have to include additional coverage if you lease or finance. All auto dealers and banks that finance vehicles require you to have comprehensive and collision coverage to help protect both you and the lienholder.

You may also be required to carry guaranteed auto protection (gap) insurance. If a leased vehicle crashes and it's considered totaled, gap insurance may pay the difference between your car's value and what you still owe on the loan. Typically, gap insurance is included in the lease payments and is not a separate coverage type on your insurance policy.

HOW MANY MILES YOU DRIVE A YEAR

Driving fewer miles a year than the average means the potential for cheaper car insurance rates—and can affect the amount of coverage you want your policy to include. The less you drive, the lower your chances of getting into an accident. Being less likely to get in an accident means that you are less likely to have to pay out-of-pocket 
for damages that exceed your policy limits.

YOUR AGE

As you grow older, you typically accrue more assets, a higher income, and ultimately a larger net worth. When looking at how much car insurance coverage you need, you should consider what it would cost to replace everything you own.

Consider this: If you add up the value of your home, your car, and any investments, what would it cost to replace at full value? While this isn’t an exact science, by giving us your age range you help us to determine a rough estimate of your financial worth.

YOUR CAR’S MODEL & YEAR

The more your car is worth, the more it makes sense to have additional coverage to protect your investment. You may want to 
add collision and comprehensive coverage to your policy if the cost 
of replacing your car or repairing damages to your vehicle costs 
more than you could afford at once. 

On the other hand, if you have a vehicle that would cost about $500 to repair major damages, it probably wouldn’t make sense to carry the added coverage.

HOW MUCH YOUR CAR IS WORTH

Again, the more valuable your car, the more coverage you should carry to protect it. To avoid costly out-of-pocket damage repairs, you’ll want to protect high-value vehicles with collision or comprehensive coverage.

OTHER METHODS FOR GETTING
THE RIGHT AMOUNT OF INSURANCE

When to Include Add-Ons

It may be a good idea to include towing and rental car coverage on your insurance policy.But before you do, remember that if you do use these services, it will result in a claim with your insurance company—which could lead to higher rates. Speak with an agent about how much a towing and rental coverage package will cost, then weigh that against the potential costs of paying to tow or rent yourself. By some estimates, having your vehicle towed costs $109 and renting a car could cost between $45 and $65 a day.

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When to Submit
 Insurance Claims

Every time you submit a claim, your car insurance rates may increase. This means that just because you have robust car insurance coverage, you don’t need to file a claim for every little thing that goes wrong. Sometimes it’s better to pay a $200 bill to replace a broken windshield than to submit a claim that could increase your rates for months or years to come.

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Choosing the Right 
Deductible Amount

A good rule of thumb: Pay the highest deductible amount you can afford. On average, we recommend a $1,000 deductible. While this may seem high, and isn’t necessarily for everyone, it may significantly decrease your annual car insurance rates. You can use those savings for a rainy day, such as future accident costs.

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HOW MUCH CAR INSURANCE DO YOU NEED?

Ultimately, how much car insurance you need depends on your individual situation. Use our car insurance coverage calculator to get a recommendation customized to your unique needs. It will give you the peace of mind knowing you won’t be paying for something you don’t need or taking on too much risk for the future. Click on the button below.

Get Started

Still have questions?Call 855-347-6110 to speak to a licensed agent

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