Fiat 124 Car Insurance: How Much Should You Expect to Pay?

Quick Facts

• Insuring a Fiat 124 costs about the same as insuring the average car.
• Full coverage auto insurance for a 124 averages about $173 monthly, on average, while liability only insurance usually runs around $84 a month.
• The lowest car insurance company for a 124 is Dairyland, who offers 124 owners rates sometimes as low as $21 per month.

124 Overview

Coming in with a base MSRP of $25,390 for 2020 models, the Fiat 124 is a great budget-friendly option for any driver.

Based on reviewing thousands of insurance quotes from Compare.com, we've found that average Fiat 124 auto insurance premiums run about $161 a month. But compared to other vehicles in the market, are 124 car insurance prices higher or lower than those of similar cars?

How Much is Car Insurance for a Fiat 124?

In the table above, you'll find that compared to other vehicles, Fiat 124 insurance rates are right around average. On average, 124 drivers can expect to pay about $84 monthly for liability insurance, and around $173 a month for full coverage, which has comprehensive and collision coverages in addition to liability (take a look at our guide, "State Minimum vs. Full Coverage", to learn more about the difference between these types of insurance).

Comparing it to other Fiat models, the 124 is more expensive, with premiums about 22% higher than the rest of the automaker's vehicle offerings. However, 124 coverage runs close to average when compared to other vehicles of a similar body style, with liability insurance prices coming in at $1 higher than other cars and full coverage insurance rates at $4 cheaper.

When compared to all vehicles, regardless of make, body style, or model, the 124 follows a similar pattern of having average insurance premiums.

Who has the Cheapest Car Insurance for a Fiat 124?

If you're in the market for a car insurance policy for a Fiat 124, you might want to know which carrier offers the most affordable rates. Although there will never be one company that offers the most affordable rates for everyone, the lowest average rates for liability only insurance are sometimes just $21 a month from Dairyland. The runner up for cheapest rates is Safeco, with insurance policies starting as low as just $25 monthly.

Clearcover, Verti, and MetLife round out the end of the top 5 list. However, just because these five carriers offer the cheapest average rates doesn't necessarily mean they'll give you the best rates for your Fiat 124.

Auto insurance companies use many variables and complex formulas to calculate premiums. By checking quotes from quite a few car insurance carriers at once, you can guarantee you're finding the most affordable rate.

What Factors Affect Car Insurance Rates for a Fiat 124?

As we mentioned above, there are a multitude of factors that insurance companies examine to choose how much they charge for auto insurance -- and each carrier weighs certain pieces more than others, so there's not a single company that's the cheapest for everyone.

The following sections show an array of things car insurance carriers use to calculate rates:

Vehicle Age

The Fiat 124 has been around for a while, so vehicle age may make a big difference in what you end up paying for auto insurance. Generally, it costs more to insure newer cars because they're worth more, however, as time goes on and 124s begin to depreciate, insurance costs will gradually decrease.

According to the table above, the Fiat 124 bucks the trend, as the most expensive models to insure are those that are 4 to 5 years old, while on average, the cheapest 124s are 1 year old or less.

Your Age

Age makes a difference in how much insurance companies will charge you. As you can see above, younger 124 drivers pay more for auto insurance than those with more experience. In this case, drivers aged between 18 and 24 pay $48 more than those 25 or older.

Car insurance prices continue to go lower as you get older, with the cheapest age group being 45-54 for 124 drivers.

Your Gender

Women tend to pay less for insurance than men. This is because women are less likely to get into accidents and get tickets, which decreases the chances of an insurance claim. When it comes to 124 drivers specifically, women pay around $50 less than men per month for car insurance. But, due to the limited amount of 124 data, this pricing may not be representative of the prices you may see.

Where You Live

You may think it's obvious that variables like how old you are and what vehicle you drive play a role in your insurance premiums, but you may not realize that where you live can matter just as much. Since car insurance is regulated on the state level rather than nationally, prices differ quite a bit depending on what state you live in.

For example, Georgia has rates for 124 owners that are more expensive than other states.

Fiat 124 Car Insurance Discounts

Whatever your home state, your car, or your age, using as many discounts as possible when it comes to your auto insurance policy is always in your best interest.

Even though all insurance carriers offer their own unique discounts, there are a few different ones that you'll find with most companies. These include things like:

• Multi-car discounts for insuring more than one of your vehicles with the same carrier
• Pay-in-full discounts for choosing to pay your entire policy price at once, rather than by monthly payments
• Defensive driving discounts for drivers who take a defensive driving class from a certified school or institution
• Vehicle safety discounts for having a vehicle with certain safety features (like anti-lock brakes or air bags) or one with higher than average safety ratings

There are countless ways to save money on your auto insurance if you know where to look. And often, the best way to save isn't through a "discount" at all, but rather by strengthening your overall insurance profile that carriers look at.

While you may not be able to control every factor car insurance carriers look at to calculate rates (like some of the ones mentioned above), you can influence some of them. Below are just a few of the things you can use to your favor in order to save money on auto insurance:

Your Driving Record

It's no secret that insurance companies offer the lowest premiums to drivers with clean records. And you're probably not surprised to hear that if you get cited for speeding or get into an accident, car insurance rates will increase. But you still might be left wondering exactly how much collisions and moving violations will cost you.

As you can see from the table above, accidents will usually cost 124 drivers more than tickets, but both will cause a significant increase in rates. Drivers with multiple kinds of either violation will end up paying even more.

How Much You Drive

Another variable you have control over is the amount of miles you drive annually. Those who are on the roads less are less likely to get into accidents, so they'll normally be offered less expensive prices. Above, you can see that Fiat 124 owners who drive 10,000 miles or more pay $103 for auto insurance, while those who drive fewer than 2,500 miles a year pay an average of $60 monthly.

If you don't use your Fiat 124 that often, it may be worth considering usage-based or pay-per-mile insurance. With these kinds of policies, you pay a small monthly amount, and your final monthly bill is calculated based on the number of miles you drove.

How Do Fiat 124s Compare to Other Vehicles?

If you're thinking about making a Fiat 124 your next purchase, you're probably wondering how it compares to other vehicles. Insurance is just one cost that comes with buying a new car, but it's definitely one that's worth taking into consideration.

Take a look at the table below to see how the Fiat 124 stacks up:

As you can see, a Fiat 124 is a great value when it comes to overall price tag. While the national average vehicle MSRP is $46,547, the 124 retails at just $25,390.

Likewise, car insurance rates run below average when compared to other vehicles on the market. Liability insurance for a Fiat 124 is about $31 per month less than average, while full coverage is over $50 less per month.

When it comes to usage, Fiat 124 drivers are much lower than the national average in annual miles driven, with 11,617 miles for all vehicles per year compared to the 124's 10,183 each year.

Fiat 124 Car Insurance Costs by Model Year

Thus far, you've seen how different factors affect how much the average driver pays to insure a Fiat 124. If you're in the market for a new car, truck, or SUV and the 124 is on your wishlist, having a good idea of how much you'll likely pay can be extremely valuable as you weigh your choices.

2020 Fiat 124 Car Insurance

2020 Fiat 124 drivers can expect to pay an average of $50 a month for liability or $111 for full coverage.

DirectGeneral offered the most affordable policy we found, with rates sometimes as little as $35 monthly.

If you want more accurate quotes of how much you can expect to pay, just enter your ZIP code below and get several free quotes in minutes.

2019 Fiat 124 Car Insurance

On average, drivers who own a 2019 124 can expect to pay $137 to $125 a month for liability only and full coverage car insurance, respectively.

Workmens has premiums sometimes as cheap as $66 per month for the 2019 Fiat 124.

Want to find the best rates? Enter your ZIP code below to get multiple free personalized quotes.

2018 Fiat 124 Car Insurance

It costs around $73 a month for liability or $222 for a full coverage policy for the 2018 Fiat 124.

With prices as little as $21 monthly, Dairyland offered the lowest policy we found for the 2018 Fiat 124.

If you want more accurate quotes of how much you can expect to pay, just enter your ZIP code below and get free quotes in minutes.

2017 Fiat 124 Car Insurance

You can expect full coverage for a 2017 124 to run about $170 per month, while liability only coverage will average around $84 a month.

Looking for the cheapest policy? Safeco offered liability only coverage for as low as $25 monthly.

If you're looking for a more exact figure on what you should pay for auto insurance for a 2017 Fiat 124, you can get free quotes in minutes by just entering your ZIP code below.

Fiat 124 Insurance FAQs

Is a Fiat 124 expensive to insure?

When compared to the national average of all vehicles, the cost of insurance is about on par with the cost of insuring the average vehicle. Liability insurance runs an average of $84 per month, while full coverage will cost you around $173.

How can I get the best price on car insurance for my Fiat 124?

The only way to make sure you're getting the lowest price on auto insurance is to check prices regularly and compare quotes from a bunch of carriers. A good rule of thumb is to get quotes every 6 months or so. Luckily, sites like Compare.com let you compare premiums from a whole range of companies at once, meaning you can find the cheapest rates (or guarantee you already have the best deal) in just a few minutes.

Does the color of my Fiat 124 affect my insurance rates?

You've probably heard that it costs more to insure red cars than silver or white ones, but that's actually a myth. Even though there are many things car insurance carriers think about when they offer you a premium, your 124's color is not factored into that decision.

Do I need to have insurance before I buy a Fiat 124?

You'll need to have an auto insurance policy in place before you can legally driver your new (or new to you) car off the dealership lot. Some dealerships will offer you one during the purchase process, but your best bet is letting your auto insurance carrier know ahead of time.

What car insurance discounts can I get for my Fiat 124?

You will find tons of discounts out there for car insurance. Many of them (like "safe driver discounts" and "multi-vehicle discounts") are more based on you than the Fiat 124 you drive, but if your 124 has safety features like airbags, anti-lock brakes, anti-theft systems, and other features, it may qualify for certain discounts. To learn more about which discounts you may qualify for, talk with your insurance agent and ask about their discounts, since they change quite a bit from company to company.