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How much is car insurance in Olive Branch?
|Area||Average Monthly Car Insurance Premium|
Auto insurance policies in Olive Branch are about $16 a month more expensive than the rest of Mississippi.
Compared to the national average cost of auto coverage, Olive Branch has higher rates. It's around $2 more expensive for coverage in Olive Branch than the average rates seen in the rest of the U.S.
While these are the average car insurance rates for Olive Branch, keep in mind that you could end up paying a different amount. Insurance companies weigh a variety of factors when determining how much to charge you for car insurance. Things like age, gender, vehicle make and model, driving record and, in some areas, credit score can all play a part in the final dollar amount you'll be asked to pay each month.
But don't worry, we've broken down average rates for Olive Branch residents 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 below and find out!
Average Car Insurance Rates by Age
|Age Range||Average Premium|
|Under 18||Not Enough Data|
The more time you have behind the wheel, the more experienced of a driver you should be. That experience can turn into some real savings when it comes to auto insurance rates. As you can see, 18-24-year-olds pay a lot more than drivers of retirement age.
You can expect to see your monthly premium drop every 10 years or so. Drivers in Olive Branch may see their rates rise again once they hit retirement.
Average Car Insurance Rates by Gender
On average, female drivers pay slightly less for car insurance than their male counterparts. The difference in average rates in Olive Branch totals about $14 a month. As you can see in the table above, male drivers in the area typically pay $88 on average, while female drivers typically pay $74 each month.
Average Auto Insurance Rates by Driving Record
|Infractions||Average Monthly Premium|
|Multiple Tickets||Not Enough Data|
Depending on your driving record, your rates can vary quite a lot. Drivers who avoid accidents and tickets will pay much lower rates than those with infractions. Drivers in Olive Branch with one accident will pay around $81 a month. On a similar note, drivers with one ticket on their record will be looking at a monthly rate of about $120 on average.
Average Insurance Rates by Vehicle
|Vehicle Age||Average Monthly Premium|
|Less Than 1 Year||$43|
|15 Years or Older||$82|
The most affordable vehicles to insure in Olive Branch are typically SUVs, which run about $77 per month.
Cars, trucks, and vans, however, usually cost about $83 for insurance coverage.
You may also see different rates based on your vehicle's age. Generally, newer vehicles are going to cost the most to insure. However, once your car is about 5 years old you may start to see your rates drop back down a bit. The most expensive vehicles to insure in Olive Branch are vehicles eleven-to-fourteen years old.
Average Car Insurance Rates by Relationship Status
|Relationship||Average Monthly Premium|
|Single (never married)||$85|
Generally, car insurance is slightly cheaper for married policyholders. This occurs because insurance companies commonly award special discounts to policyholders with multiple vehicles that are on the same policy.
On a national scale, single drivers typically pay more than married couples do for auto insurance. Olive Branch is no exception, with the difference totaling to around $14 a month.
Average Car Insurance Rates by Housing Situation
|Housing Status||Average Monthly Premium|
|Live with parents||$124|
Your living situation is another factor that affects your monthly rate. In Olive Branch, homeowners can expect to pay around $7 a month less than those who rent. But if you live with your parents, your rates will be significantly higher.
Bundling your home or rental insurance and auto insurance policies can oftentimes reduce your overall costs, depending on your insurance company.
Car Insurance Companies in Olive Branch, MS
Recent trends in car insurance for Olive Branch drivers
Car insurance rates are frequently changing, so it's in your best interest to understand which way your area is trending before picking an insurance policy.
Car insurance rates in Olive Branch increased from 2016-2018, before leveling out in 2019. They finished down in 2021, at $60 per 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 consider several factors when trying to decide 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:
- Area crime rates
- Number of drivers in the community
- Road Safety (total number of local car accidents)
- Community laws
- Access to off-street parking
Having an awareness of these factors is critical when thinking about buying a new policy or potentially moving to a new home. 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 understanding what the average costs are for drivers like you can be helpful as you get an idea of what you might end up paying, the only way to know exactly what your rate will be is by requesting a quote from car insurance companies.
Fortunately, Compare.com does all of that work for you. Just type in your ZIP Code below, answer a few questions, and you'll be comparing the cheapest quotes from loads of the car insurance companies offering auto coverage in Olive Branch.
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 age and gender, but also factors like your vehicle's make and model, year, driving record, credit score, as well as your marital status and address.
Why is the cost of car insurance in Olive Branch different from other neighboring cities?
Car insurance companies take local factors into consideration when determining how much to charge for coverage. Things like crime rates, local laws, and parking situations -- which can vary from city to city -- can significantly affect your rate.
Which car insurance company will offer me the cheapest rate in Olive Branch?
No one insurance company is guaranteed to offer the cheapest rate across the board. Since companies base their rates on factors that differ from person to person, such as driving record, number of drivers on the policy, vehicle make and model, and many more, it's a good idea to use sites like Compare.com to compare multiple quotes at once.
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?
No. Regardless of how much time is left on your current policy, you can switch companies at any time. So, whether you're considering moving to Olive Branch or just curious if you're getting the best rates, why not take 10 minutes and see if Compare.com can save you some extra cash?