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How much is car insurance in Magna?
|Area||Average Monthly Car Insurance Premium|
Car insurance policies in Magna are about $8 a month more expensive than the rest of Utah.
Compared to the rest of the country, auto insurance in Magna is more affordable. On average, it's about $10 less to insure your vehicle in Magna than it is in the rest of the United States.
The price you pay may very well be higher or lower than the rates you see, but we can help explain why. Insurance companies take an array of factors into consideration when determining how much to charge you for your car insurance. Things like gender, vehicle make and model, driving record, age and, in some areas, credit score can all affect the final amount you'll be charged for coverage each month.
We've done the heavy lifting for you and broken down the average rate for Magna 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!
Average Car Insurance Rates by Age
|Age Range||Average Premium|
|45-54||Not Enough Data|
It makes sense that older drivers would have more experience behind the wheel. That experience can lead to some serious savings when it comes to auto insurance premiums. As you can see, 18-24-year-olds pay $76 more than someone who is retirement aged.
You can expect to see your monthly premium drop about once a decade or so. Once you hit retirement age, however, you may see your rates rise again in Magna.
Average Car Insurance Rates by Gender
In general, women pay slightly less for car insurance than men. The difference in Magna is around $11 per month. As illustrated in the table above, female drivers in the area pay about $66 on average, while male drivers pay around $77 each month.
Average Auto Insurance Rates by Driving Record
|Infractions||Average Monthly Premium|
Depending on your driving record, your rates can vary wildly. Those with clean records will see the most affordable rates, whereas even a single accident or infraction can cost you. Drivers in Magna with one accident will pay around $87 a month. In addition, drivers with a single ticket on their record can expect to pay around $91 a month on average.
Average Insurance Rates by Vehicle
|Vehicle Age||Average Monthly Premium|
|Less Than 1 Year||$45|
|15 Years or Older||$67|
According to the first table above, trucks and vans are usually the cheapest vehicles to insure in Magna, with drivers paying around $58 per month for insurance.
Car owners will see a monthly rate of about $75, while SUV owners by and large pay around $76 a month.
Your vehicle's age has an impact on the cost of your policy as well. Generally, the most expensive vehicles to insure are going to be newer ones. However, once your car is a few years old, you may start to see your monthly premium decrease. In Magna, the most expensive vehicles to insure are vehicles six-to-seven years old.
Average Car Insurance Rates by Relationship Status
|Relationship||Average Monthly Premium|
|Single (never married)||$77|
On average, 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.
At a national level, married drivers usually pay less than single drivers for auto insurance. This holds true for Magna as well, where the difference is around $18 a month.
Average Car Insurance Rates by Housing Situation
|Housing Status||Average Monthly Premium|
|Live with parents||$87|
Another factor that comes into play is your housing situation. In Magna, homeowners can expect to pay around $19 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 average costs, depending on your insurance company.
Car Insurance Companies in Magna, UT
Recent trends in car insurance for Magna drivers
Since car insurance rates are constantly changing, it's a good idea to know the local trends in your area before selecting an auto insurance policy.
Car insurance rates in Magna had been increasing from 2017-2018, when they hit a high of $92. This pattern leveled out in 2021, when they began to decrease, and have continued on that road through 2022, when rates reached a low of $59 per month.
How does Magna compare to neighboring areas?
Why are car insurance rates in Magna different from other areas?
There are several factors car insurance companies take into consideration when figuring out how much to charge for coverage. While we already talked about the ones that affect your personal policy, others are based around your home address. These include things like:
- Area laws
- Off-street parking accessibility
- Total drivers
- Rate of crime
- Frequency of car accidents
It's good to be aware of these factors (even though you may not be able to do much to influence them) as you shop for a new policy or consider relocating. Each area will have different rates. Guides like these are a wonderful place to get started.
How can I find the cheapest car insurance in Magna?
Equipping yourself with information about the average costs for drivers in your area will better prepare you for the real deal. The only way to know for sure what your rate will be is by asking for a quote from car insurance companies.
But wait! Compare.com will handle the heavy lifting for you. Just put in your ZIP below, respond to a few questions, and you'll be comparing the cheapest quotes from a number of the car insurance companies offering policies in Magna.
Magna Insurance FAQs
What factors affect car insurance quotes in Magna?
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 driving record, address, credit score, marital status, as well as your vehicle's year and make and model.
Why is the cost of car insurance in Magna different from other neighboring cities?
Auto insurance companies consider regional factors, such as local laws, parking situations, and crime rates 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 Magna?
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 Magna?
Whenever you relocate or experience another major life event, such as finding a new job or getting married, you should consider revisiting your current insurance policy. Using services like Compare.com to compare quotes from multiple companies at once is a great way to make sure you're getting the cheapest rate for your new location.
Do I need to wait for my policy to expire to switch to a different car insurance company?
No. You can switch companies at any time, regardless of how long is left on your current policy. So, if you've recently moved to Magna or it's been a while since you last compared car insurance rates, you may want to take 10 minutes and see if Compare.com can save you money.