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How much is car insurance in Olive Branch?
|Area||Average Monthly Car Insurance Premium|
Coverage for your vehicle in Olive Branch will typically run you about $14 a month more than in the rest of Mississippi.
When stacked up against the national average, the average monthly policy payment for Olive Branch is more affordable. You can expect to pay about $2 less for your policy in Olive Branch than in the rest of United States.
These rates provide a great starting point for understanding what to expect for your monthly payment, but there's no guarantee that this is what you will end up paying. There are a variety of factors that car insurance companies assess when determining how much to charge you to get your vehicle insured. Your monthly premium is calculated based on things like age, gender, vehicle make and model, driving record, and in some cases, credit score.
We've done the heavy lifting for you and broken down the average rate for Olive Branch so that you can get a more accurate idea of what you might pay. If you think you might be overpaying for insurance in your area, enter your ZIP Code below and find out!
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Average Car Insurance Rates by Age
|Age Range||Average Premium|
|Under 18||Not Enough Data|
|45-54||Not Enough Data|
Generally, the older you are, the more experienced you are on the roads, right? That experience pays off when it comes to auto insurance. In this case, 18-24-year-olds pay $36 more than someone who is at retirement age.
For every 10 years, you can expect to see a drop in your monthly premium. Once you hit retirement age, however, you may see your rates creep back up in Olive Branch.
Average Car Insurance Rates by Gender
Car insurance rates for women are generally cheaper than they are for men. The difference in average rates in Olive Branch totals about $8 per month. As you can see in the chart above, car insurance for women in the area typically costs around $75 each month, while men pay $83 on average.
Average Auto Insurance Rates by Driving Record
|Infractions||Average Monthly Premium|
Your rates can change quite drastically depending on your driving record. Drivers who avoid accidents and tickets will pay significantly lower rates than those with infractions. In Olive Branch, a driving record with a single accident will usually get you a rate around $82 a month. Similarly, if you have one ticket on your record, you will be looking at an average rate of around $86.
Regardless of where you live, accidents, tickets, and other driving infractions can greatly increase your premium. So, if cheap car insurance is something you're after, drive safely and keep a clean record.
Average Insurance Rates by Vehicle
|Vehicle Age||Average Monthly Premium|
|Less Than 1 Year||$79|
|15 Years or Older||$80|
In Olive Branch, the cheapest vehicles to insure are usually SUVs, with drivers paying around $76 per month for auto insurance coverage.
Cars, trucks, and vans, on the other hand, usually cost about $80 for insurance coverage.
In addition to vehicle type, you can also expect to see slightly different rates depending on the age of your vehicle. Generally, newer vehicles are going to be the most expensive to insure. Once your car is a few years old, however, you may see your bill start to shrink a bit. In Olive Branch, the most expensive vehicles to insure are vehicles eleven-to-fourteen years old.
Average Car Insurance Rates by Relationship Status
|Relationship||Average Monthly Premium|
|Single (never married)||$82|
Generally, those who are currently married will pay slightly less for auto insurance coverage. This oftentimes is a result of owning multiple vehicles that are on the same policy, something many companies extend special discounts for.
The difference in rates based on relationship status in Olive Branch can be as much as $17 a month, so it's worth keeping that in mind.
Average Car Insurance Rates by Housing Situation
|Housing Status||Average Monthly Premium|
|Live with parents||$116|
Your living accommodations is another factor that affects your monthly rate. If you rent your home or apartment, expect to pay around $5 a month more than drivers who own property in Olive Branch. But if you live with your parents, you can expect to pay a lot more.
Depending on your insurance company, they may offer you a discount if you bundle your home or renters insurance with your auto policy.
Car Insurance Companies in Olive Branch, MS
Recent trends in car insurance for Olive Branch drivers
Since average rates are constantly changing, it's a smart move to research the local trends in your area before shopping for coverage.
The rates for auto insurance in Olive Branch increased from 2017-2018, but began to turn downward in 2021. This pattern has continued through 2022 when rates have most recently hit $50 a month.
How does Olive Branch compare to neighboring areas?
Why are car insurance rates in Olive Branch different from other areas?
Car insurance companies will take into account a number of factors when they're figuring out how much to charge for a policy. A few of these factors affecting your personal policy have already been mentioned, but others are based around where you live and drive. These include things like:
- Access to off-street parking
- Area regulations
- Road Safety (total number of local car accidents)
- Number of drivers
A decent level of familiarity with these factors can be helpful when you're ready to purchase of a new policy or thinking about making a move. Different cities and towns will each have different rates, so guides like these are a handy way to learn more.
How can I find the cheapest car insurance in Olive Branch?
While knowing what the average costs are for drivers like you can be helpful as you get an idea of what you might pay, the only way to know exactly what your rate will be is by requesting a quote from car insurance companies.
But wait! Compare.com will handle the heavy lifting for you. Just type in your ZIP below, respond to a few questions, and you'll be comparing the cheapest quotes from numerous car insurance companies offering coverage in Olive Branch.
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Olive Branch Insurance FAQs
What factors affect car insurance quotes in Olive Branch?
Car insurance companies calculate quotes based on a wide array of factors. These include things like your gender and age, but also factors like your vehicle's year, make and model, plus your driving record, credit score, marital status, and address.
Why is the cost of car insurance in Olive Branch different from other neighboring cities?
Auto insurance companies consider regional factors, such as crime rates, parking situations, and local laws into account when calculating the monthly rate for coverage. Since these can all vary from city to city the rates you may see can differ from neighboring areas.
Which car insurance company will offer me the cheapest rate in Olive Branch?
There isn't one company that can guarantee the cheapest rate to everybody, since the rates they charge for coverage are calculated based off of factors that can vary from person to person, such as vehicle make and model, driving record, and number of drivers on the policy. By using sites like Compare.com to compare multiple quotes simultaneously, you can rest assured that you're getting the best price available.
Do I need to change my insurance if I move to Olive Branch?
Any major life event, whether it be moving to a new area, finding a new job, getting married, or any other notable event always presents a good opportunity to re-evaluate your current insurance policy. Regardless of your previous rate, there may be cheaper options in your new location, so it's a good idea to use services like Compare.com to compare quotes from dozens of companies side-by-side.
Do I need to wait for my policy to expire to switch to a different car insurance company?
Not at all, in fact you can switch companies at any point, regardless of how much time is left on your current policy. If you're thinking about moving to Olive Branch or haven't checked out the latest rates in your area for some time, it might be worth your while to take 10 minutes and see if Compare.com can save you any cash.
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