Cheapest car insurance companies for February 2022
| Insurance company | Best for | Average annual premium for minimum coverage | Bankrate Score |
|---|---|---|---|
| Auto-Owners | Network of local agents | $382 | 4.5 |
| USAA | Military-focused coverage | $384 | 5.0 |
| Amica | Claims service | $405 | 4.4 |
| Erie | Steady rates | $409 | 4.6 |
| Geico | Variety of discounts | $433 | 4.7 |
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Auto-Owners
Best car insurance company for providing local agents
4.5 Bankrate Score
JD Power: 878/1,000
AM Best: A++
AVERAGE ANNUAL PREMIUM
$382 for min coverage
Get a individualized quote
- Why Auto-Owners made our list: Auto-Owners has the lowest average minimum coverage premium on our list and also offers numerous add-on options to help you personalize your coverage.
- Why Auto-Owners may be best for providing local independent agents: Auto-Owners sells its policies exclusively through a network of independent agents in the 26 states it serves. Working with a local agent may help you choose coverage types and limits appropriate for you and your geographic area.
Perks
- High customer satisfaction ratings
- Offers several optional endorsements
Drawbacks
- Not available nationwide
- Does not offer a virtual claims-filing system
| Average annual minimum coverage premium | |
|---|---|
| Auto Owners | $382 |
| National average | $565 |
Best car insurance company for providing local agents
4.5 Bankrate grade
JD Power: 878/1,000
AM Best: A++
- Why Auto-Owners made our list: Auto-Owners has the lowest average minimum coverage premium on our list and also offers numerous add-on options to help you personalize your coverage.
- Why Auto-Owners may be best for providing local independent agents: Auto-Owners sells its policies exclusively through a network of independent agents in the 26 states it serves. Working with a local agent may help you choose coverage types and limits appropriate for you and your geographic area.
Perks
- High customer satisfaction ratings
- Offers several optional endorsements
Drawbacks
- Not available nationwide
- Does not offer a virtual claims-filing system
| Average annual minimum coverage premium | |
|---|---|
| Auto Owners | $382 |
| National average | $565 |
View rate How to get started: If you would like to get a quotation from Auto-Owners, you will need to contact an mugwump agent in your area that represents the company.
Learn more: Auto-Owners insurance review .
USAA
Best car insurance company for military-focused coverage
5 Bankrate Score
JD Power: 909/1,000
AM Best: A++
AVERAGE ANNUAL PREMIUM
$384 for min coverage
Get a individualized quotation mark
- Why USAA made our list: In addition to its low average minimum coverage rate, USAA, the fifth-largest auto insurer in the U.S. by market share according to the Insurance Information Institute (Triple-I), consistently receives high customer satisfaction scores from J.D. Power, although the company isn’t eligible for official ranking due to its eligibility restrictions.
- Why USAA may be best for military-focused coverage: USAA sells its coverage exclusively to active-duty military, veterans and qualifying family members, allowing the company to offer military-focused coverage options and discounts.
Perks
- Has excellent customer service and claims satisfaction scores
- Offers military-focused policies
Drawbacks
- Only serves the military community, not the general public
- Requires a membership
| Average annual minimum coverage premium | |
|---|---|
| USAA | $384 |
| National average | $565 |
Best car insurance company for military-focused coverage
5 Bankrate score
JD Power: 909/1,000
AM Best: A++
- Why USAA made our list: In addition to its low average minimum coverage rate, USAA, the fifth-largest auto insurer in the U.S. by market share according to the Insurance Information Institute (Triple-I), consistently receives high customer satisfaction scores from J.D. Power, although the company isn’t eligible for official ranking due to its eligibility restrictions.
- Why USAA may be best for military-focused coverage: USAA sells its coverage exclusively to active-duty military, veterans and qualifying family members, allowing the company to offer military-focused coverage options and discounts.
Perks
- Has excellent customer service and claims satisfaction scores
- Offers military-focused policies
Drawbacks
- Only serves the military community, not the general public
- Requires a membership
| Average annual minimum coverage premium | |
|---|---|
| USAA | $384 |
| National average | $565 |
View rate How to get started: USAA offers on-line quotes, or you can call 800-531-8722 to speak with a company representative to get a quote.
Learn more : USAA Insurance review .
Amica
Best car insurance company for claims service
4.4 Bankrate Score
JD Power: 895/1,000
AM Best: A+
AVERAGE ANNUAL PREMIUM
$405 for min coverage
Amica insurance review
- Why Amica made our list: With a low average minimum coverage premium and high claims and customer satisfaction scores, Amica could be a great option for those looking for cheap coverage and solid service.
- Why Amica may be best for claims service: Amica is rated near the top of J.D. Power’s claims satisfaction study. Auto claims can be filed in numerous ways, including through an online account, via Amica’s online chat feature, by phone or on the Amica mobile app.
Perks
- High third-party customer service ratings and easy-to-access claims reporting
- A low average minimum coverage premium
Drawbacks
- Auto policies aren’t available in Hawaii
- Does not offer ridesharing coverage
| Average annual minimum coverage premium | |
|---|---|
| Amica | $405 |
| National average | $565 |
Best car insurance company for claims service
4.4 Bankrate score
JD Power: 895/1,000
AM Best: A+
- Why Amica made our list: With a low average minimum coverage premium and high claims and customer satisfaction scores, Amica could be a great option for those looking for cheap coverage and solid service.
- Why Amica may be best for claims service: Amica is rated near the top of J.D. Power’s claims satisfaction study. Auto claims can be filed in numerous ways, including through an online account, via Amica’s online chat feature, by phone or on the Amica mobile app.
Perks
- High third-party customer service ratings and easy-to-access claims reporting
- A low average minimum coverage premium
Drawbacks
- Auto policies aren’t available in Hawaii
- Does not offer ridesharing coverage
| Average annual minimum coverage premium | |
|---|---|
| Amica | $405 |
| National average | $565 |
Read review How to get started: To get a quotation from Amica, you can visit the Amica web site or call 800-242-6422. The mailman operates local offices across the U.S., but they are presently closed to walk-in dealings due to COVID-19 safety protocols.
Learn more : Amica policy review.
Read more: The Best Car Insurance Companies for 2022
Erie
Best car insurance company for steady rates
4.6 Bankrate Score
JD Power: 901/1,000
AM Best: A+
AVERAGE ANNUAL PREMIUM
$409 for min coverage
Get a personalize quote
- Why Erie made our list: With its low average minimum coverage premium and exclusive Rate Lock feature, Erie may be a great option for policyholders looking to lock in their savings for multiple years.
- Why Erie may be best for steady rates: Erie’s Rate Lock program allows you to keep your auto insurance premium steady; the company advises that your price will only change if you make adjustments to your policy, like adding or removing a driver or vehicle.
Perks
- A low average minimum coverage premium
- Great claims satisfaction rating from J.D. Power
Drawbacks
- Only available in 12 states and Washington, D.C.
- Lacks the ability to file certain types of claims online
| Average annual minimum coverage premium | |
|---|---|
| Erie | $409 |
| National average | $565 |
Best car insurance company for steady rates
4.6 Bankrate score
JD Power: 901/1,000
AM Best: A+
- Why Erie made our list: With its low average minimum coverage premium and exclusive Rate Lock feature, Erie may be a great option for policyholders looking to lock in their savings for multiple years.
- Why Erie may be best for steady rates: Erie’s Rate Lock program allows you to keep your auto insurance premium steady; the company advises that your price will only change if you make adjustments to your policy, like adding or removing a driver or vehicle.
Perks
- A low average minimum coverage premium
- Great claims satisfaction rating from J.D. Power
Drawbacks
- Only available in 12 states and Washington, D.C.
- Lacks the ability to file certain types of claims online
| Average annual minimum coverage premium | |
|---|---|
| Erie | $409 |
| National average | $565 |
View rate How to get started: If you ’ d like to get a quote from Erie, you can do so on the Erie web site by calling 800-458-0811 or visiting a local anesthetic freelancer agent who represents the ship’s company in its operate territories.
Learn more : Erie policy review.
Geico
Best car insurance company for discounts
4.7 Bankrate Score
JD Power: 881/1,000
AM Best: A++
AVERAGE ANNUAL PREMIUM
$433 for minute coverage
Get a individualized quote
- Why Geico made our list: With nationwide availability, low average rates and a wide variety of discounts, Geico, the second-largest U.S. auto insurer by market share, might help you save money no matter where you live.
- Why Geico may be best for discounts: Geico offers more savings opportunities than most carriers; 16 distinct discounts are listed on the carrier’s website.
Perks
- Available in all 50 states and Washington, D.C.
- Highly regarded for its vast menu of discounts
Drawbacks
- Only offers a few endorsement options
- Personalizing your policy can be challenging
| Average annual minimum coverage premium | |
|---|---|
| Geico | $433 |
| National average | $565 |
Best car insurance company for discounts
4.7 Bankrate score
JD Power: 881/1,000
AM Best: A++
- Why Geico made our list: With nationwide availability, low average rates and a wide variety of discounts, Geico, the second-largest U.S. auto insurer by market share, might help you save money no matter where you live.
- Why Geico may be best for discounts: Geico offers more savings opportunities than most carriers; 16 distinct discounts are listed on the carrier’s website.
Perks
- Available in all 50 states and Washington, D.C.
- Highly regarded for its vast menu of discounts
Drawbacks
- Only offers a few endorsement options
- Personalizing your policy can be challenging
| Average annual minimum coverage premium | |
|---|---|
| Geico | $433 |
| National average | $565 |
View rate How to get started: Getting a quotation with Geico is fairly comfortable. You can get a Geico quote on-line by telephone at 800-207-7847 or in the Geico mobile app. Geico besides has a network of local agents across the U.S.
Learn more : Geico indemnity review .
How Bankrate picked the cheapest insurers
To find the best car policy providers for your wallet, we analyzed companies based on average agio data obtained from Quadrant Information Services, J.D. Power car claims atonement score, AM Best fiscal lastingness ratings. We combined this information with data that includes coverage options and digital resources to assign each aircraft carrier a proprietorship Bankrate Score. The higher the Bankrate Score, on a scale of 0.0 to 5.0, the higher a company scored across all categories. To make it onto our list of brassy car indemnity companies, an insurance supplier had to meet the keep up criteria :
- Have an average annual minimum coverage premium lower than the national average of $565.
- Have at least close to the industry average J.D. Power claims satisfaction rating.
- Have an AM Best financial strength rating of A+ (Superior) or higher.
- Have an overall Bankrate Score of 4.5 or higher.
We besides analyzed data from several super-regional brassy indemnity companies that may only offer car policy in a blue-ribbon total of markets. Due to their lower book of annual premiums written, some of these smaller carriers may not be rated by J.D. Power or AM Best. therefore, these two factors had no bearing on their Bankrate Scores .
Finding cheap car insurance by state
In many states, USAA offers the cheapest minimal coverage premiums, but we didn ’ deoxythymidine monophosphate include the company in our country table since its eligibility is restricted to the military community. Taking that into consideration, Geico offers the cheapest average minimum coverage car policy in more states than any other provider we assessed. While the following rate information may be utilitarian for the sake of comparison, the cheapest cable car indemnity depends on your individual circumstances, and each state of matter has different indemnity regulations. When shopping for car coverage, the Triple-I recommends getting quotes from a mix of at least three national and regional carriers so you can compare premiums and coverage types.
Cheapest car insurance companies by driving record
Although maintaining a clean motive vehicle record ( MVR ) is one of the best ways to keep your car insurance premiums humble, accidents happen. many car policy companies will surcharge your policy for at-fault accidents, speeding tickets and DUI convictions. After multiple incidents, insurance companies may consider you a bad driver, which comes at a cost. Drivers with multiple incidents on their MVR may want to consider fully coverage because of the increased risk of fomite damage. Below, we listed each company ’ south average annual rates for wide coverage cable car insurance, for a driver with a cleanse read and after one rush slate, at-fault accident or a DUI conviction.
Average annual full coverage premium by driving history
| Insurance company | Clean driving record | One speeding ticket | One at-fault accident | One DUI |
|---|---|---|---|---|
| USAA | $1,225 | $1,463 | $1,742 | $2,177 |
| Erie | $1,233 | $,283 | $1,398 | $2,067 |
| Auto-Owners | $1,351 | $1,673 | $1,625 | $2,543 |
| Amica | $1,378 | $1,689 | $1,665 | $3,139 |
| Geico | $1,405 | $1,734 | $1,971 | $3,064 |
| National average | $1,674 | $2,062 | $2,311 | $3,139 |
Cheapest car insurance companies by credit tier
In every state except California, Hawaii, Massachusetts and Michigan, cable car indemnity companies are permitted to use your credit-based indemnity sexual conquest as a rating factor. While your demand rate depends on several personal characteristics, the follow averages may help you determine approximately how much you ’ five hundred pay with different carriers for car policy based on your credit grade.
Average annual full coverage car insurance premium by credit tier
| Insurance company | Average rate with poor credit | Average rate with average credit | Average rate with good credit | Average rate with excellent credit |
|---|---|---|---|---|
| USAA | $2,2705 | $1,277 | $1,225 | $1,030 |
| Erie | $2,707 | $1,403 | $1,233 | 993 |
| Amica | $1,978 | $1,505 | $1,405 | $1,312 |
| Geico | $2,751 | $1,528 | $1,351 | $1,073 |
| Auto-Owners | $2,125 | $1,478 | $1,378 | $1,350 |
Cheapest car insurance companies for new drivers
adolescent drivers between the ages of 16 and 19 are three times more probable to be involved in a black crash than drivers over senesce 20. high crash statistics make adolescent drivers more expensive to insure. however, several companies offer competitive student discounts that can help reduce your agio. To find bum cable car insurance for teens, you may want to get quotes from some of the cheapest car policy companies on the market. hera is a sample of average rates from a few companies for a 16-year-old added to their parents ’ policy ( reflects added monetary value to an existing policy and not total monetary value of coverage ).
Average annual full coverage car additional insurance premium for 16-year-old included on their parents’ existing policy
| Insurance company | Average annual full coverage premium for 16-year-old males | Average annual full coverage premium for 16-year-old females | Overall average annual full coverage premium for 16-year-old drivers |
|---|---|---|---|
| Nationwide | $1,362 | $1,100 | $1,231 |
| Erie | $1,531 | $1,178 | $1,355 |
| The Hartford | $1,946 | $1,898 | $1,922 |
| Geico | $2,234 | $1,785 | $2,009 |
Cheap car insurance from smaller insurance companies
Although large companies sometimes offer more discount rate programs and options, you might want to get an policy quote from regional companies with smaller marketplace shares in your search for cheap coverage. A smaller insurance company can besides help you find low-cost cable car policy, offer eminent customer satisfaction ratings and be financially potent. These five regional carriers offer the cheapest minimal cable car insurance on average, according to Bankrate ’ second analysis.
Average full coverage car insurance premium from smaller insurance companies
| Insurance company | Average annual premium for minimum coverage | Average monthly premium (rounded to the nearest dollar) |
|---|---|---|
| Union Mutual | $122 | $10 |
| Nodak Insurance Company | $164 | $14 |
| EMC Insurance | $170 | $14 |
| American National | $201 | $17 |
Although smaller insurance brands might not sound ampere familiar as the larger companies, getting quotes from these lesser-known indemnity providers might offer cheap insurance coverage in your area .
How to get the cheapest car insurance quotes
Auto policy helps provide you and your family with fiscal peace of mind. Although your agio is an crucial component, buying minimal coverage levels could cost you more in out-of-pocket expenses if you cause an accident and leave you financially vulnerable to a significant loss, according to Triple-I. many insurance professionals recommend that you purchase higher than required state minimum liability limits if you can afford to so that you have a greater horizontal surface of auspices. Keeping your coverage needs in judgment while looking for a bum car policy policy can help you protect your fiscal wellbeing. here are some ways to find the best cheap cable car indemnity for you .
What to expect when applying for cheap car insurance
When applying for cheap car insurance, keep in mind that the stick to personal factors typically affect your rates .
- Age: In every state except Hawaii, car insurance companies may use age as a factor in determining your car insurance premiums. Younger drivers tend to pay more for their car insurance.
- Gender: Gender may be used as a rating factor in every state except California, Hawaii, Massachusetts, Michigan, Montana, North Carolina and Pennsylvania. On average, men pay slightly higher car insurance rates than women, since they statistically have higher accident frequency and severity, and car insurance companies view them as riskier to insure.
- Credit score: Most insurance companies use a credit-based insurance score to help calculate your car insurance premium. Statistically, drivers with lower credit scores are more likely to file claims. As a result, their car insurance premiums are usually higher than drivers with good credit scores. Car insurance companies in California, Hawaii, Massachusetts and Michigan are prohibited from using credit as a rating factor.
- Vehicle make and model: Since vehicles have different safety ratings, crash statistics and prices for replacement parts and labor, your vehicle type affects your car insurance premium.
- Claims history: If you’ve filed car insurance claims in the past, insurance companies view you as higher risk and more likely to file claims in the future.
- Driving history: One of the best ways to lower your car insurance premium is to keep a clean driving history. If you already have marks on your motor vehicle record, you may want to enroll in a usage-based telematics program that tracks you driving in real-time and offers potential discounts for safe driving.
- ZIP code: Different ZIP codes have different crash statistics, weather patterns and costs of living. As a result, your address affects the price you pay for car insurance, except in California and Michigan, where insurance companies are not allowed to use your ZIP code when calculating your premium.
Does age affect car insurance rates?
Your long time plays a significant role in car indemnity rates in all states except Hawaii, which bans the use of age as a military rank factor. Due to their inexperience and higher accident frequency, younger drivers tend to pay higher premiums, with 18-year-olds paying the highest average rates amongst drivers of any old age group. average rates are at their lowest for drivers in their 60s but can begin to creep up again as drivers reach and surpass 70 years old because of a statistical increase in accident frequency.
Average annual full coverage car insurance premium by age and gender
*16-year-old and 17-year-old rates are for teens added to their parents ’ policy and reflect the add monetary value rather than the total cost for the policy .
Is the minimum required insurance in my state enough coverage?
Your state of matter ’ s minimum command levels of coverage are all you need to drive legally, but most indemnity experts recommend opting for extra coverage to offer more fiscal protective covering in encase of an accident. Determining how much coverage you need involves a review of your broader fiscal picture. additionally, if you have a loan or lease on your vehicle, you will most probable be required to carry wax coverage as a condition of your finance or lease agreement, which includes collision and comprehensive coverages. If you are diffident how much coverage you need, consider speaking with a accredited policy agentive role before purchasing an car policy .
Other factors to watch out for
Premiums can vary by hundreds of dollars between companies, so comparing rates could help you significantly lower your premium. Once you find an low-cost car indemnity quote you ’ d like to proceed with, you can contact the ship’s company or an agent to buy the policy. following, make indisputable you understand your coverage needs. nsurance agents typically don ’ metric ton recommend that you lower your coverage limits or raise your car policy deductibles to save money on premiums, but understanding your unique needs could help you figure out what coverage options, limits and deductibles make sense for you. following, make sure you take advantage of all the discounts available to you. ultimately, you may want to reevaluate your policy and shop your coverage every few years, specially if a major life event occurs, to ensure the coverage types, limits, discounts and policy features distillery work for your needs and you are getting the best price on coverage. If not, consider car indemnity companies .
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Frequently asked questions
-
- Paying your cable car insurance premium every calendar month international relations and security network ’ thyroxine money wasted. rather, it acts as a protective net that guards your finances in the event of an accident. however, finding low-cost car policy could be desirable because it frees up money to be spent elsewhere in your budget, such as paying down debt, investing or saving. To save money on your car insurance, you may want to get quotes from the cheap car policy providers and front for discounts that apply to you. however, be wary when it comes to skimping on coverage. Purchasing less coverage than you need could be a detriment to your finances in the retentive run .
- bum car indemnity is a capital manner to protect your finances and your budget, but you may need to do more research to find the lowest-priced option that works best for you. And it probably doesn ’ t come as a surprise that more coverage broadly means a higher premium, so cheap car policy might mean you are buying lower limits than you ’ d like. But that international relations and security network ’ thyroxine a given. You can find bum car indemnity — flush brassy full coverage — without cutting back on your coverage limits. You may need to spend a bite more time researching companies and gathering quotes from multiple providers .
- Your old age plays a significant role in car indemnity rates in all states except Hawaii, which bans the function of age as a rat factor. Due to their inexperience and higher accident frequency, younger drivers tend to pay higher premiums, with 18-year-olds paying the highest average rates. average rates are at their lowest for drivers in their 60s but can begin to creep up again as drivers reach and surpass 70 years old .
- Your state ’ s minimum command levels of coverage are all you need to drive legally, but most indemnity experts recommend opting for extra coverage to offer more fiscal protective covering in sheath of an accident. Determining how much coverage you need involves a review of your broader fiscal visualize. additionally, if you have a lend or lease on your fomite, you will most probably be required to carry full coverage as a condition of your finance or rent agreement. If you are uncertain how much coverage you need, consider speaking with a license policy agent before purchasing an car policy .
Methodology
Bankrate utilizes Quadrant Information Services to analyze 2021 rates for all ZIP codes and carriers in all 50 states and Washington, D.C. Quoted rates are based on a 40-year-old male and female driver with a fairly drive record, effective credit and the following wax coverage limits :
- $100,000 bodily injury liability per person
- $300,000 bodily injury liability per accident
- $50,000 property damage liability per accident
- $100,000 uninsured motorist bodily injury per person
- $300,000 uninsured motorist bodily injury per accident
- $500 collision deductible
- $500 comprehensive deductible
To determine minimum coverage limits, Bankrate used minimum coverage that meets each state ’ second requirements. Our base profile drivers own a 2019 Toyota Camry, change five days a week and drive 12,000 miles per annum. These are sample rates and should only be used for relative purposes. incidental : Rates were calculated by evaluating our base profile with the surveil incidents applied : clean and jerk read ( base ), at-fault accident, individual speed ticket, single DUI conviction and sink in coverage.
Bankrate Scores
Bankrate Scores chiefly reflect a slant absolute of industry-standard ratings for fiscal military capability and customer experience in addition to analysis of quoted annual premiums from Quadrant Information Services, spanning all 50 states and Washington, D.C. We know it is important for drivers to be confident their fiscal protection covers the likeliest risks, is priced competitively and is provided by a financially-sound company with a history of positive customer support. To determine how well the best car indemnity companies satisfy these priorities, third-party agency ratings from J.D. Power, AM Best, S & P, NAIC, and Moodys had the most impact on the companies ’ Bankrate Scores. As price is a common consideration for drivers, we analyzed quoted premiums based on 40-year-old male and female drivers with a 2019 Toyota Camry. This profile, assessed across more than 35,000 ZIP codes in the U.S., provided a footing on which drivers may compare each supplier. While coverage options, insurance company handiness, affordability and customer feel are often the crown priorities, Bankrate besides analyzed each insurance company ’ sulfur on-line and mobile resources for policy management and claims handling. indemnity is quickly evolving to keep tempo with our digital global, so these aspects besides carried burden in determining Bankrate Scores.