Average car insurance cost in Meridian, ID

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Based on an analysis by Insure.com, the typical car insurance expense in Meridian, Idaho is $1,306 annually. Furthermore, car insurance premiums in Meridian are $122 less than compared to the state average in Idaho and $589 less than the national average.

Car insurance premiums differ widely depending on the location, city demographics, population density, average resident age, accident rates, and theft and vandalism.

This article looks at the most affordable car insurance companies in Meridian, the average car insurance rates by age and gender, and the costs in Meridian based on coverage limits.

Whether you’re a new or experienced driver, this article will guide you in finding the most affordable car insurance in Meridian. Keep reading to learn more.

Cheap car insurance companies in Meridian

Auto-Owners offers the most affordable car insurance in Meridian for coverage limits of 100/300/100 at $765 per year.

The Geico comes close second offering car insurance at $940 per year.

As mentioned previously, car insurance quotes differ amongst companies due to the factors they consider when determining rates. Hence, it’s advisable to obtain quotes from multiple insurers to find affordable car insurance rates in Meridian that align with your needs before finalizing your insurance carrier.

Here are the average annual and monthly costs for the various car insurance companies providing coverage in Meridian, Idaho:

Read about the best car insurance companies.

Average car insurance cost in Meridian by coverage limits

In Meridian, the average car insurance rates based on coverage types are as follows:

• State minimum coverage: $415 per year (limits are 25/50/25)
• Liability only coverage: $514 per year (limits are 50/100/50)
• Full coverage: $1,306 per year (limits are 100/300/100)
• Non-owners coverage: $219 per year

In most states, drivers must have the state minimum coverage to drive legally, but these vary by state. However, state minimum coverage does not cover any vehicles listed on your policy in an at-fault accident.

To avoid compromising on the coverage and pay out-of-pocket expenses, it is better to have full coverage or non-owner coverage if you don’t own a car but borrow or rent one frequently.

Average car insurance rates by gender in Meridian

In Meridian, Idaho, the average annual car insurance premium for female drivers is $1,293 per year.

While the average annual cost for male drivers is $1,319 per year, which is $26 more than what female drivers pay, according to a rate analysis by Insure.com.

According to the Insurance Information Institute, statistics demonstrate that women are generally regarded as safer drivers than men. They often pay less for auto insurance because of their lower rate of severe accidents than men.

Read more on how gender affects car insurance rates.

Average car insurance rates by age in Meridian

In Meridian, car insurance rates are highest for teens, averaging $4,367 per year or $364 per month. According to the Insurance Information Institute, these higher rates for 16- to 19-year-olds are due to their increased likelihood of road accidents due to their lack of driving experience.

Specific teen driving laws have been implemented to help them become better drivers. Additionally, parents can lower teen insurance rates by adding them to their existing auto insurance policy.

As teens grow older and build a positive driving history, their car insurance rates decrease. Young adults usually pay $2,112 annually for their car insurance, which is $2,255 less than what teens pay for their coverage.

In Meridian, adult drivers pay an average of $1,304 per year for car insurance, while senior drivers pay $1,308 annually.

According to the Insurance Information Institute, rates for adults and seniors are significantly lower than for teens and young adults, as they are more likely to obey speed limits and follow road rules.

Read more on auto insurance for seniors.

The table below lists the average annual rates for drivers of different age groups:

Car insurance rate trends in Meridian

If we look at the car insurance rates trends in Meridian, Idaho, it was on an upward swing from 2022 to 2023. From 2022 to 2023, the rates increase overall by 34%, or $330.

The table below shows the trend for last four years:

Conclusion

In conclusion, Meridian’s car insurance rates are lower than the average insurance rates in Idaho. Drivers in Meridian can find affordable car insurance options by shopping around and taking advantage of available discounts. Moreover, many car insurance companies offer discounts for customers who purchase multiple policies through the same company.

Sources

• Insurance Information Institute. “What determines the price of my auto insurance policy,” Accessed September 2024.
• Insurance Information Institute. “Auto insurance for teen drivers,” Accessed September 2024.
• Insurance Information Institute. “Senior driving safety and tips,” Accessed September 2024.

Methodology

Insure.com team worked with Quadrant Information Service to get car insurance data. To determine the average premiums, our team of data analysts and expert editors have analyzed 53,409,632 insurance quotes from 170 insurance companies across 34,588 ZIP codes.

The insurance rates are based on a sample profile of a 40-year-old male and female driver with a clean driving record and a good insurance score. Quotes premiums are for a full coverage policy with limits:

• $100,000 bodily injury per person
• $300,000 bodily injury per accident
• $100,000 property damage per accident
• $500 comprehensive and collision deductible

The quoted insurance rates are for comparison purposes, and your individual rates may vary.

Prachi Singh

Contributing Researcher

 

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Prachi is an insurance writer with a master’s degree in business administration. Through her writing, she hopes to help readers make smart and informed decisions about their finances. She loves to travel and write poetry.