The Cheapest Car Insurance Companies
The Cheapest Car Insurance Quotes for Most Drivers
MoneyGeek ’ sulfur study found that the cheapest, widely available car insurance company is GEICO. Its average annual premium is $ 1,047, which is more than $ 300 less than the national average of $ 1,379. however, if you ‘re an eligible current or early military member, USAA is even cheaper, with an average annual premium of $ 883. MoneyGeek found that the average driver with wax coverage — defined in our methodology — can save up to 27 % on cable car policy when comparing car policy quotes. A full coverage policy offers robust insurance protection, but if you ‘re looking for even cheaper cable car indemnity you could shop for liability-only coverage.
The Cheapest Car Insurance Companies for Most Drivers, Ranked
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- company Amount
per year
- 1 .USAA $ 883
- 2 .GEICO $ 1,047
- 3 .State Farm $ 1,235
- 4 .Nationwide $ 1,341
- 5 .Allstate $ 1,351
- 6 .Progressive $ 1,381
- 7 .Travelers $ 1,525
- 8 .Farmers $ 1,578
- 9 .MetLife $ 1,686
GEICO Offering a wide roll of car indemnity coverage plus a variety of discounts to keep rates low, GEICO is 37.9 % less than MetLife, which as the most expensive car policy caller, has an median annual premium of $ 1,686. GEICO customers can enjoy the appliance of obtaining and maintaining their car insurance policy on-line or in the GEICO mobile app. WHY TRUST MONEYGEEK ? To help you figure out whether or not to switch car policy, MoneyGeek analyzed dozens of indemnity companies across hundreds of cities to see which companies offer the lowest premiums. In addition, we examined data by driver character to help determine which company may be the best fit for your needs. For these initial recommendations, the companies represented here are available in at least 29 states. While they may not offer the cheapest car insurance rates for everyone, they will offer the best cope for many drivers.
Cheapest Car Insurance Companies by State
A enormously authoritative factor car policy companies consider when calculating your rates is where you live. insurance is regulated by states, so unlike states can have very unlike price levels. Companies besides price differently by where you live within a express, as different cities and towns may have higher or lower risks for car accidents and larceny. nationally, the car insurance companies with the most cheap rates on average are USAA and GEICO. But companies that are brassy on average for the country as a whole might not be brassy in your state. Excluding USAA, which is merely available for military families, the cheapest companies in most states are :
- GEICO (cheapest in 23 states)
- State Farm (cheapest in seven states)
- Erie (cheapest in four states)
Use the postpone below to explore the cheapest companies for a full coverage policy, excluding USAA, in your state. But drivers who are eligible for USAA and who are looking for savings should always get a quote with the insurance company ; it systematically has some of the most low-cost rates in the state.
The Cheapest Car Insurance Company in Each State
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Cheapest Regional Car Insurance Companies
There are some very low-cost cable car policy companies that are n’t available in more than 29 states but which are hush quite large. For model, American Family Insurance offers quotes in 17 states, and is one of the 10 biggest car insurers in the country. Among indemnity companies available in five to 17 states, we found that Erie was the cheapest overall, with modal rates of $ 934 per year ; tied cheaper than GEICO. american Family Insurance was the runner-up. Both tend to be low-cost options f you live in a express in which they do business.
Cheapest Regional Car Insurance Companies
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- ship’s company States available average annual premium
- 1 .Erie 12 $ 934
- 2 .American Family 17 $ 1,066
- 3 .Country Financial 6 $ 1,193
- 4 .Amica Mutual 5 $ 1,262
- 5 .AAA 11 $ 1,412
- 6 .Esurance 13 $ 1,473
- 7 .Mercury 10 $ 1,622
- 8. Allied 12 $ 1,633
Cheapest Car Insurance for Drivers With Tickets or Accidents
Drivers with moving violations or accidents on their drive record may discover they have higher car indemnity rates than drivers with clean drive records. Car insurance companies see these drivers as a higher risk to insure, and your rates will reflect that risk. Although all companies will raise your rates, some will raise them less than others .
- Cheapest car insurance for drivers with a ticket: GEICO
- Cheapest car insurance for drivers with an at-fault accident: State Farm
Drivers who have had a more unplayful irreverence, such as a DUI, may need to buy a SR-22 indemnity policy.
Most Affordable for Drivers With a Ticket
When comparing drivers with tickets or accidents to the average driver with a blank driving record, drivers with a ticket can expect to pay 22.4 % more on average, while drivers with an accident could see increases of 36.3 % on average. MoneyGeek again found that GEICO offers the cheapest rates on average. At $ 1,407 per year, it charges $ 360 more than it does for drivers with a clean record .GEICO car indemnity typically costs more with a ticket or accident on your record. Drivers with GEICO can expect to pay an average of 34.4 % more if they have a accelerate slate than drivers without a ticket. however, GEICO has the best rates for most drivers with a ticket with the exception of the USAA, which merely military families can buy. USAA is besides a very low-cost option for those who are eligible. And State Farm offers comparable rates to GEICO for those who have a ticket on their record.
The Cheapest Car Insurance Companies for Drivers With a Ticket, Ranked
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- company Amount
per year
- 1 .USAA $ 1,015
- 2 .GEICO $ 1,407
- 3 .State Farm $ 1,503
- 4 .Nationwide $ 1,561
- 5 .Allstate $ 1,652
- 6 .Progressive $ 1,964
- 7 .Farmers $ 2,058
- 8 .MetLife $ 2,084
- 9 .Travelers $ 2,167
Most Affordable for Drivers With an Accident
Compared to the average driver, drivers with an accident on their phonograph record can expect to pay an average of $ 813 more than those without an accident on their read. Unlike with tickets, MoneyGeek found that State Farm is the cheapest widely available indemnity company. If you have an at-fault accident, it ‘s a good station to start when shopping for bum insurance. One way to keep rates low in the event of an accident is by purchasing accident forgiveness coverage with your car insurance. This choice can help you avoid a rate increase in the consequence of an accident when you are at fault. Companies such as Allstate, Nationwide and Geico offer this choice .
State Farm State Farm offers low-cost car policy policies. At $ 1,583, State Farm ’ s annual premium is 28.1 % lower than the average cost to insure a driver with an accident on their criminal record. Although GEICO is n’t the cheapest option for this type of driver, it still offers some of the most low-cost rates available. And USAA remains the cheapest option if you ‘ve been in an at-fault accident and have a military background.
The Cheapest Car Insurance Companies for Drivers With an Accident
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- company Amount
per year
- 1 .USAA $ 1,337
- 2 .State Farm $ 1,583
- 3 .GEICO $ 1,660
- 4 .Nationwide $ 1,950
- 5 .Allstate $ 2,034
- 6 .Farmers $ 2,364
- 7 .Travelers $ 2,373
- 8 .Progressive $ 2,452
- 9 .MetLife $ 3,114
Cheapest Car Insurance by Coverage Type
car insurance is available with a range of options, but most states require all drivers to have liability policy at a minimum. Liability insurance covers the injuries of others and their property when you are at demerit in an accident. If you get indebtedness indemnity and nothing else, your car indemnity policy will be cheaper than one with more coverages. Liability coverage is expressed in three numbers, such as 50/100/50. This equates to $ 50,000 to cover the liability costs of injuries to one individual, $ 100,000 for all injuries sustained in an accident and $ 50,000 for property wrong. A full coverage policy includes indebtedness insurance but adds comprehensive and collision coverage. These coverages protect you against the monetary value of damages to your vehicle, not good the cost of damage or injury to others.
Cheapest Liability-Only Insurance
Liability-only indemnity is cheaper than full coverage because it alone covers injuries and property damage to others. Depending on your assets, income, and ability to cover vehicle damages or wound costs, you may wish to increase your indemnity.
The Cheapest Car Insurance Companies for Liability-Only Insurance
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- ship’s company Amount
per year
- 1 .USAA $ 490
- 2 .GEICO $ 628
- 3 .Nationwide $ 798
- 4 .State Farm $ 800
- 5 .Allstate $ 868
- 6 .Progressive $ 888
- 7 .Travelers $ 960
- 8 .Farmers $ 995
- 9 .MetLife $ 1,143
GEICO For most drivers, GEICO is the cheapest car indemnity company for 50/100/50 indebtedness coverage, with an median annual agio of $ 628. That ’ s about half of the annual premium for MetLife, the most expensive caller in this class. GEICO customers can use the mobile app to manage and update their car insurance coverage as needed.
Cheapest Full Coverage Insurance
While not required by states, some lenders or lease companies may require you to have full coverage that includes indebtedness, collision and comprehensive examination policy. This is extra coverage that covers price to your car, even if it is stolen or damaged due to weather. The average annual agio for the average driver for a 50/100/50 indebtedness policy is $ 898, while the price for a 100/300/100 broad coverage policy is $ 1,424.
The Cheapest Car Insurance Companies for Full Coverage Insurance
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- company Amount
per year
- 1 .USAA $ 883
- 2 .GEICO $ 1,047
- 3 .State Farm $ 1,235
- 4 .Nationwide $ 1,341
- 5 .Allstate $ 1,351
- 6 .Progressive $ 1,381
- 7 .Travelers $ 1,525
- 8 .Farmers $ 1,578
- 9 .MetLife $ 1,686
GEICO GEICO is the cheapest car policy option, besides USAA, for 100/300/100 wax coverage with comprehensive and collision. The average annual agio is $ 941, which is 28.3 % less than the modal premium cost for this category and 41.7 % less than MetLife, the most expensive company.
Cheapest Car Insurance for Drivers With Bad Credit
One of the personalize factors car policy companies consider when determining your car indemnity rates is your credit score. In general, those with higher accredit scores file fewer claims than those with lower citation scores. In MoneyGeek ’ south report, the average premium for drivers with hapless citation is $ 2,670, while the median premium for average drivers with good credit rating is $ 1,424. Drivers can still find cheap indemnity with poor credit by shopping about, with USAA and GEICO among the cheapest on average .GEICO For most drivers, GEICO is the cheapest car policy company if you have bad recognition. The average annual bounty of $ 1,681 is closely $ 1,000 less than the median annual agio for the category. USAA is besides an low-cost option, but it is merely available to military families. According to the National Association of Insurance Commissioners ( NAIC ), car insurance companies may offer higher rates to drivers with lower recognition scores to compensate for the raise gamble that you ‘ll make more claims.
The Cheapest Car Insurance Companies for Drivers With Poor Credit
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- company Amount
per year
- 1 .USAA $ 1,460
- 2 .GEICO $ 1,681
- 3 .Nationwide $ 1,781
- 4 .Allstate $ 2,254
- 5 .Travelers $ 2,490
- 6 .State Farm $ 2,527
- 7 .Progressive $ 2,475
- 8 .Farmers $ 3,281
- 9 .MetLife $ 4,248
California, Massachusetts and Hawaii forbid cable car policy companies from using citation scores to evaluate drivers, so drivers in these states will not have to worry about how their score affects their indemnity rates.
Cheapest Car Insurance for Students
Because they are inexperienced, scholar drivers are frequently seen as bad, which is reflected in higher car insurance rates for adolescent drivers. To keep these rates low, students should be added to an existing class policy quite than having a break policy of their own. The average annual premium for policies with students added is $ 3,332 compared to $ 1,424 for the average driver. MoneyGeek found that Allstate and State Farm offer the cheapest rates when you ‘re adding a student driver to your policy .
Allstate Allstate is the cheapest car insurance for students with an average annual agio of $ 2,980 when added to a class policy, which is about $ 650 less than Nationwide, the most expensive choice for students on average. Allstate offers its policyholders teenSMART, a train program provide on driving skills to help reduce collision risk. The caller ’ s Drivewise program besides monitors drivers ’ driving habits that can result in extra savings. You should shop around to find the best rates for a syndicate policy with a scholar as rates vary from cable car policy company to company.
The Cheapest Car Insurance Companies for Student Drivers
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- company Amount
per year
- 1 .Allstate $ 2,980
- 2 .State Farm $ 3,083
- 3 .GEICO $ 3,164
- 4 .Progressive $ 3,171
- 5 .Nationwide $ 3,629
Cheapest Car Insurance for Military Members
many car indemnity companies offer special rates to stream and go to bed military members, but only one offers policies explicitly geared to their needs : USAA. Across all driver types where quotes were available — safe drivers, drivers with tickets an accidents, drivers with hapless credit — MoneyGeek found that USAA has the most low-cost rates on average. If you ‘re looking for an alternate to USAA that hush provides bum insurance for military members, GEICO much has good rates vitamin a well, thanks to its 15 % military discount. To make sure you get the best rates, get personalized quotes from at least three car policy companies .
USAA USAA has the cheapest median car indemnity rates for active military members and veterans. And active military members can take advantage of vehicle storehouse and military facility discounts to get even more savings.
How to Get the Cheapest Car Insurance Quotes for You
Finding the cheapest car indemnity can be simple when you compare the top car indemnity companies and request personal quotes for your needs. every car policy company looks at several individualized factors for each driver. furthermore, they evaluate these factors differently from ship’s company to company, which means rates will vary from ship’s company to company adenine well. Car policy companies besides offer a assortment of discounts — some the lapp, some not — that will further affect rates. Loading …
Shop Around to Get Multiple Quotes
Before purchasing any car insurance policy, you should get personalized quotes from at least three car policy companies. Make indisputable you provide the lapp information to each party and ask for the quotes on the same day to ensure a clean comparison. cable car indemnity rates frequently fluctuate, so requesting quotes on the lapp day with the same data gives you the best photograph of what ’ s available to you as the cheap car policy quotes.
Improve Your Driving Record
Drivers with speed tickets or car accidents on their drive read are seen as a higher hazard to car indemnity companies, resulting in higher rates. consequently, maintain good drive habits to keep your drive record clean. To help you with this, many car insurance companies now offer monitoring programs to track and provide feedback on your driving habits. As your driving habits improve, you could see extra savings on your car policy rates.
Improve Your Credit
Although your credit score may not reflect your driving skills, car indemnity companies still use accredit scores to evaluate risk when compiling car policy quotes. therefore, by maintaining good credit and a high credit score, you can help keep your car policy rates down. Review your citation report card regularly to ensure it is accurate and doesn ’ metric ton contain faulty or false data that could bring your credit sexual conquest down.
Drive a Less Expensive Vehicle
Another divisor car insurance companies consider when deciding rates is the type of vehicle you drive. This includes a review of the vehicle ’ s guard read, how much it would cost to repair and its reputation for larceny. For case, driving a vehicle with a high safety rat that is not routinely stolen will equate to lower car insurance rates, while a sports car that is highly desired by thieves will result in higher car insurance quotes .
MONEYGEEK EXPERT TIP Teens are typically more expensive to insure than adult drivers, but adding your adolescent to a family policy could mean big savings. adolescent who are added to a syndicate policy could save more than $ 1,800 on median per year compared to teens with their own policy.
Find Savings for Younger Drivers
As modern drivers on the road, adolescent drivers inherently come with a higher hazard than more experience drivers. That higher risk is reflected in more expensive car indemnity rates. To keep rates down, parents should add adolescent drivers to their existing class policy. In addition, shop around for good student discounts for teens with specific grade-point averages equally well as college scholar discounts attending school a minimum distance away from home plate.
Raise Your Deductible
As a general practice throughout the policy diligence, it ’ randomness common for those paying a higher deductible to receive a lower premium. however, this is only a good move if you have the funds to pay a higher deductible should you have to file a claim. differently, you may find yourself in a bad spot following an accident. If you choose to go with the lower premium and higher deductible, consider putting some savings in a specific account to draw upon if you have to file a claim.
Combine Home and Auto Policies
One of the most common discounts offered by car indemnity companies is bunch coverage combining indemnity on two or more items together under one policy. Often, this means bundling homeowners indemnity with cable car policy. Some companies besides offer multi-policy discounts if you insure two or more vehicles—motorcycle, RV, gravy boat, etc.—on the lapp policy. Shop around to find the best rates and discounts to ensure you get the cheapest car policy.
Choose Lower Coverage Levels or Liability Only
In some instances, lowering your car indemnity coverage or choosing merely liability coverage can result in more low-cost car indemnity. For example, if you have an older car with a depreciate value, carrying full coverage may not provide much profit. If your car ’ s value is less than 10 times your annual premium for collision and comprehensive coverage, liability only is the better choice. however, keep in judgment that if your car is leased or financed, the lender probably requires full moon coverage car indemnity.
Expert Advice: Steps to Find Cheap Auto Insurance
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Jim Snooks Associate Professor of Business at Moraine Valley Community College
Jie Ying Assistant Professor of Finance at Southern Illinois University Edwardsville
Mitchell Langbert Associate Professor of Business Management at Brooklyn College
Reilly White Associate Professor of Finance at the University of New Mexico
Archish Maharaja Professor of Business and Director of Graduate Programs at Point Park University
Wendy Habegger lector at James M. Hull College of Business at Augusta University
Dr. Mikhail Kouliavtsev Department Chair and Professor of Economics and Finance at Stephen F. Austin State University
Dr. Leo Chan Associate Professor of Finance Economics at Utah Valley University
Eliezer Fich Professor of Finance at Drexel University ’ s LeBow College of Business
Carrie L. Johnson Associate Professor and Extension Specialist at North Dakota State University
Dr. James Barth Lowder Eminent Scholar in Finance at Auburn University
Malcolm Robinson Professor of Economics at Thomas More University
Rutherford Johnson lecturer of Economics at the University of Minnesota Crookston & General Conference Chair of the West East Institute
Amit Sinha Professor of Finance and Quantitative Methods at Bradley University
Aron Tobias Assistant Professor of Economics at Syracuse University
Jonathan Handy Assistant Professor of Finance at Western Kentucky University
Hank Bahr adjunct Lecturer at Haslam College of Business at The University of Tennessee, Knoxville
Randy Beavers Assistant Professor of Finance at Seattle Pacific University
David Marlett Managing Director of Brantley Risk and Insurance Center, IIANC Distinguished Professor of Insurance at Appalachian State University
Michael Rainey Practitioner Lecturer of Business Law at Pepperdine Graziadio Business School
Angelo DeCandia Professor of Business at Touro College
Steven Gattuso Assistant Professor of Economics & Finance at Canisius College
James Philpot Associate Professor & Director of the Financial Planning Program at Missouri State University
Jeffrey Diamond Adjunct Professor, Atlanta ‘s John Marshall Law School
Melissa M. Hart senior Lecturer, Finance at North Carolina State University
Derek Lawson adjunct Professor, Ph.D., CFP at Kansas State University ; Partner & CCO ( Priority Financial Partners )
Robert Hartwig clinical Associate Professor, Finance Department and Director, Center for Risk and Uncertainty Management ; Darla Moore School of Business ; University of South Carolina
Wayne Miller Adjunct Professor – Wayne Law at Wayne State University and COO at Miller & Tischler P.C .
Sampath Kumar Professor of Marketing for the Austin E. Cofrin School of Business at UW-Green Bay
Jeffrey H. Harris Gary Cohn Goldman Sachs Chair in Finance at American University
Richard McGrath Professor of Economics at Georgia Southern
Kai Ding assistant Professor Department of Economics at California State University – East Bay
Dr. Amanda J. Phalin senior Lecturer, Warrington College of Business at the University of Florida
Lealand Morin Assistant Professor of Economics at the University of Central Florida
Dr. Arun Upadhyay Associate Professor – Department of Finance at Florida International University
Kim Austin state farm indemnity Agent/Owner
David Brownstone Emeritus Professor of Economics at the University of California, Irvine
Michael Tsiros Patrick J. Cesarano Professor and Chair of Marketing at the University of Miami
Deanne Butchey Teaching Professor, Department of Finance at the College of Business, Florida International University
Mark Ratchford Professor of Practice – Freeman School of Business at Tulane University
PV Viswanath Graduate Program Chair in the Department of Finance and Economics at Pace University
Benjamin Shiller Assistant Professor of Economics at Brandeis University
Mike Schmisek Owner of Premier Mountain Insurance
Beibei Dong Associate Professor of Marketing at Lehigh University
Nancy Titus-Piersma teacher of Professional Practice, Spears School of Business at Oklahoma State University
Dr. Jukka Laitamaki clinical Professor at New York University School of Professional Studies
Dr. Zhiyong Yang Professor of Marketing and Department Head at UNC Greensboro
Steven Haynes director of Risk Management and Insurance, Assistant Professor of Practice at University of Texas at Dallas
Biljana Adebambo Academic Director, Associate Professor of Finance at the University of San Diego
Heather M. Whaley, PhD, CFCS Professor & Dean, School of Business and Family & Consumer Sciences at Carson-Newman University
Patrick Cozza executive in Residence and Lecturer, Wealth Management at Fairleigh Dickinson University
Mandy Harrelson Program Champion Department of Finance, Harbert College of Business at Auburn University
Irene Leech Associate Professor of Consumer Studies at Virginia Tech
Steve Yerkes Faculty Instructor and Certified Financial Planner, University of Northern Iowa
Dr. Vandana Rao Professor of Business Management at Marymount Manhattan College
Chris Miller teacher of Accounting at the University of Indianapolis
Ramiro J. Atristain-Carrion administrator In Residence and Adjunct Professor of Finance at Dominican University
Yutong Xie Assistant Professor of Finance at The College of New Jersey
Jeremy Greiner Vice President/Agent at Heritage Insurance & Real Estate
Dr. Wendel Weaver Dean of the Chesapeake Energy School of Business at Oklahoma Wesleyan University
Anthony Rondinelli Professor of Business
Robert H. Jerry, II Floyd R. Gibson Missouri Endowed Professor Emeritus of Law at The University of Missouri
Duane Donaldson finance Instructor at Columbus State Community College, MBA, CPA
John Hilston Professor of Economics and History at Eastern Florida State College
Kathleen Richard assistant Professor and Undergraduate Chairperson, Madonna University School of Business
Dr. Samar Issa Assistant Professor of Economics and Finance at Saint Peter ‘s University
John Dinsmore, PhD Associate Professor, marketing at Wright State University
Jill Duncan state farm insurance Agent in Carroll County, Georgia
Kim Holder senior Lecturer of Economics and Director, Center for Economic Education and Financial Literacy at the University of West Georgia
Dr. Brenda Wells Robert F. Bird Distinguished Professor of Risk and Insurance at East Carolina University ; Director, Risk Management and Insurance Program
Alex Pomelnikov, PhD Visiting Lecturer, College of Business at Texas Woman ‘s University
Dr. Andrew Bryant Associate Professor of Marketing at Drake University
Benjamin Pugsley Assistant Professor of Economics at the University of Notre Dame
Stephen Calkins Professor of Law at Wayne State University
Ian Alam Professor of Marketing School Of Business at SUNY at Geneseo
Adele L. Harrison, PhD Professor of Finance, Jabs School of Business at California Baptist University
Raj Iyengar Ph.D., CPA, CMA, Professor and Chair of the Department of Accounting at North Carolina Central University
Dr. Brian Routh Assistant Professor of Accounting at Meredith College, School of Business
Kelly Manley, Ph.D. Associate Professor of Economics at the University of North Georgia
Madhuparna Kolay, Ph.D. Associate Professor of Finance, Pamplin School of Business Administration, University of Portland
Gregg Dimkoff, Ph.D., CFP, CLU finance Professor at Grand Valley State University, Consultant, and Financial Planner
Justin Yoshizawa Mercury Insurance Director of Product Management
Joseph R. Stasio Associate Professor, market at Merrimack College
Inho Suk Ph.D., Associate Professor, School of Management at the University at Buffalo
Nick Pretnar postdoctoral Scholar at The University of California, Santa Barbara
Methodology
All quotes were determined by selecting an median driver profile for indemnity companies throughout the country in hundreds of cities and every state. All companies listed here are available in a minimal of 29 states unless differently noted. When MoneyGeek refers to a fully coverage policy, it means a policy with :
- $100,000 in bodily injury liability coverage per person
- $300,000 in bodily injury liability coverage per accident
- $100,000 in property damage liability coverage per accident
- Comprehensive and collision coverage with a $1,000 deductible
Learn more about MoneyGeek ‘s methodology.
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About the writer
Karon Warren is a freelance writer specializing in personal finance, business and indemnity.