How Bankrate picked the best car insurance companies for 2022
To provide an easy-to-use denounce and comparison creature for consumers, we calculated a Bankrate Score out of 5.0 entire points. The higher a company ’ sulfur Bankrate Score, the more competitively that company ranked in each scoring class. Our picks highlight car insurers that :
- Generate a 4.0 or higher Bankrate Score
- Earn a J.D. Power Claims Study customer satisfaction score within 20 points of the industry average or higher
- Carry an “Excellent” or “Superior” financial strength rating from AM Best
- Have a strong digital presence with a consumer-friendly mobile app or digital policy management features
- Are deemed by Bankrate to be the best in a particular market category
USAA
Best car insurance company overall
5.0 Bankrate Score
J.D. Power: 890/1,000
AM Best: A++
AVERAGE ANNUAL PREMIUM
$1,272 for full coverage
Get a individualized quote
- Why this company made our list: With the highest Bankrate Score of the auto insurers Bankrate analyzed, USAA easily makes our list of best insurance companies for nationwide availability and top tier customer service. Although only available only to current or former military members and their families, USAA is a top scorer in J.D. Power customer satisfaction surveys, has impeccable financial strength as rated by AM Best, S&P and Moody’s, and still manages to provide some of the lowest-priced auto insurance quotes in the industry.
- Why USAA is best overall for car insurance: USAA earns top marks from all major third-party rating agencies for customer service and financial strength. Coupled with having the lowest average full coverage premium on our list, customers are privy to multiple coverage options, rewards and discounts, including unique circumstances like deployment for active-duty members. While not all drivers may qualify for coverage from USAA, the company is a standout for millions of military families across the country.
Perks
- Excellent customer service scores and financial strength ratings
- Low average rates
- Military-focused coverage options
Drawbacks
- Only available to active-duty military, veterans and immediate family members
- Fewer specialty coverage options than other carriers
| USAA | Nat’l Average | |
|---|---|---|
| Average annual full coverage premium | $1,272 | $1,655 |
| Average annual minimum coverage premium | $355 | $480 |
Best car insurance company overall
5.0 Bankrate score
J.D. Power: 890/1,000
AM Best: A++
- Why this company made our list: With the highest Bankrate Score of the auto insurers Bankrate analyzed, USAA easily makes our list of best insurance companies for nationwide availability and top tier customer service. Although only available only to current or former military members and their families, USAA is a top scorer in J.D. Power customer satisfaction surveys, has impeccable financial strength as rated by AM Best, S&P and Moody’s, and still manages to provide some of the lowest-priced auto insurance quotes in the industry.
- Why USAA is best overall for car insurance: USAA earns top marks from all major third-party rating agencies for customer service and financial strength. Coupled with having the lowest average full coverage premium on our list, customers are privy to multiple coverage options, rewards and discounts, including unique circumstances like deployment for active-duty members. While not all drivers may qualify for coverage from USAA, the company is a standout for millions of military families across the country.
Perks
- Excellent customer service scores and financial strength ratings
- Low average rates
- Military-focused coverage options
Drawbacks
- Only available to active-duty military, veterans and immediate family members
- Fewer specialty coverage options than other carriers
| USAA | Nat’l Average | |
|---|---|---|
| Average annual full coverage premium | $1,272 | $1,655 |
| Average annual minimum coverage premium | $355 | $480 |
View rate Learn more: USAA Insurance follow-up
State Farm
Best car insurance company overall
4.7 Bankrate Score
J.D. Power: 881/1,000
AM Best: A++
AVERAGE ANNUAL PREMIUM
$1,381 for full coverage
Get a individualized quote
- Why this company made our list: As the largest national auto insurer based on market share, State Farm’s reach and reputation highlight the carrier as one of the best car insurance companies for drivers in most states. Its extensive local agent network showcases its customer-first approach to providing a variety of personal and commercial insurance products to consumers.
- Why State Farm is best overall for car insurance: State Farm company boasts over 19,000 licensed insurance professionals, available in communities across the U.S., who can offer guidance to those who value expert insight when discussing their policy. Digital management options allow for an on-the-go approach, including a highly-rated mobile app where you can file auto claims and contact your agent.
Perks
- Large network of local agents
- Excellent financial strength
Drawbacks
- May not be available to high-risk drivers
- Higher-than-average compliant index score with the National Association of Insurance Commissioners (NAIC)
| State Farm | Nat’l Average | |
|---|---|---|
| Average annual full coverage premium | $1,272 | $1,655 |
| Average annual minimum coverage premium | $355 | $480 |
Best car insurance company overall
4.7 Bankrate score
J.D. Power: 881/1,000
AM Best: A++
- Why this company made our list: As the largest national auto insurer based on market share, State Farm’s reach and reputation highlight the carrier as one of the best car insurance companies for drivers in most states. Its extensive local agent network showcases its customer-first approach to providing a variety of personal and commercial insurance products to consumers.
- Why State Farm is best overall for car insurance: State Farm company boasts over 19,000 licensed insurance professionals, available in communities across the U.S., who can offer guidance to those who value expert insight when discussing their policy. Digital management options allow for an on-the-go approach, including a highly-rated mobile app where you can file auto claims and contact your agent.
Perks
- Large network of local agents
- Excellent financial strength
Drawbacks
- May not be available to high-risk drivers
- Higher-than-average compliant index score with the National Association of Insurance Commissioners (NAIC)
| State Farm | Nat’l Average | |
|---|---|---|
| Average annual full coverage premium | $1,272 | $1,655 |
| Average annual minimum coverage premium | $355 | $480 |
View rate Learn more: State Farm Insurance review
Clearcover
Best car insurance company for digital presence
5.0 Bankrate Score
J.D. Power: Not Rated
AM Best: A-
AVERAGE ANNUAL PREMIUM
$N/A for full moon coverage
Get a personalized quotation mark
- Why this company made our list: Clearcover’s technology-driven car insurance is reinventing the insurance landscape, making it a clear contender for any driver seeking the best modern auto insurance experience compared to other car insurance companies. The insurtech company’s digital approach allows it to sell highly affordable policies.
- Why Clearcover is best for digital presence: Although only currently available to drivers in 20 states, Clearcover is disrupting the auto insurance market by putting technology in the spotlight. The carrier uses artificial intelligence-based digital tools to its advantage, revamping how car insurance is quoted, purchased and serviced. Clearcover’s highly-rated mobile app puts control over managing policies directly in users’ hands. The streamlined approach enables Clearcover to pay most auto claims in less than a week, with some even being eligible for same-day processing.
Perks
- Cutting-edge technology
- Fast insurance quotes and expedient claims processing
Drawbacks
- Only available in 20 states
- Limited data regarding customer satisfaction
Policyholders seeking a technology-driven indemnity experience
Best car insurance company for digital presence
5.0 Bankrate score
J.D. Power: Not Rated
AM Best: A-
- Why this company made our list: Clearcover’s technology-driven car insurance is reinventing the insurance landscape, making it a clear contender for any driver seeking the best modern auto insurance experience compared to other car insurance companies. The insurtech company’s digital approach allows it to sell highly affordable policies.
- Why Clearcover is best for digital presence: Although only currently available to drivers in 120states, Clearcover is disrupting the auto insurance market by putting technology in the spotlight. The carrier uses artificial intelligence-based digital tools to its advantage, revamping how car insurance is quoted, purchased and serviced. Clearcover’s highly-rated mobile app puts control over managing policies directly in users’ hands. The streamlined approach enables Clearcover to pay most auto claims in less than a week, with some even being eligible for same-day processing.
Perks
- Cutting-edge technology
- Fast insurance quotes and expedient claims processing
Drawbacks
- Only available in 20 states
- Limited data regarding customer satisfaction
Policyholders seeking a technology-driven indemnity experience
View rate Learn more: Clearcover Insurance review
Geico
Best car insurance company for high-risk drivers
4.7 Bankrate Score
J.D. Power: 871/1,000
AM Best: A++
AVERAGE ANNUAL PREMIUM
$1,304 for wax coverage
Get a personalized quotation mark
- Why this company made our list: Geico’s long history as a trusted, household-name auto insurer is reflected in its high Bankrate Score and is one of the reasons we included it as a top company. Coverage is available for virtually every type of driver, making its car insurance coverage accessible even for consumers with blemished driving histories.
- Why Geico is best for high-risk drivers: Geico is one of the few top auto insurance companies that will write policies for drivers even after high-risk incidents, such as DUI convictions. While high-risk policies are generally more expensive, a high-risk driver may also have a harder time finding coverage, especially from major car insurance companies. Geico is an easily-accessible option for most people.
Perks
- Typically available to high-risk drivers
- Highly rated digital app and mobile tools
- An array of discounts
Drawbacks
- Customer service scores vary by region
- Fewer coverage options
- Fewer in-person local agents compared to other car insurance companies
| Geico | Nat’l Average | |
|---|---|---|
| Average annual full coverage premium | $1,304 | $1,655 |
| Average annual minimum coverage premium | $343 | $480 |
Best car insurance company for high-risk drivers
4.7 Bankrate score
J.D. Power: 871/1,000
AM Best: A++
- Why this company made our list: Geico’s long history as a trusted, household-name auto insurer is reflected in its high Bankrate Score and is one of the reasons we included it as a top company. Coverage is available for virtually every type of driver, making its car insurance coverage accessible even for consumers with blemished driving histories.
- Why Geico is best for high-risk drivers: Geico is one of the few top auto insurance companies that will write policies for drivers even after high-risk incidents, such as DUI convictions. While high-risk policies are generally more expensive, a high-risk driver may also have a harder time finding coverage, especially from major car insurance companies. Geico is an easily-accessible option for most people.
Perks
- Typically available to high-risk drivers
- Highly rated digital app and mobile tools
- An array of discounts
Drawbacks
- Customer service scores vary by region
- Fewer coverage options
- Fewer in-person local agents compared to other car insurance companies
| Geico | Nat’l Average | |
|---|---|---|
| Average annual full coverage premium | $1,304 | $1,655 |
| Average annual minimum coverage premium | $343 | $480 |
View rate Learn more: Geico Insurance review
Travelers
Best car insurance company for budget drivers
4.7 Bankrate Score
J.D. Power: 861/1,000
AM Best: A++
AVERAGE ANNUAL PREMIUM
$1,568 for entire coverage
Get a personalized quote
- Why this company made our list: Travelers is a trusted insurer with over 150 years in the auto insurance industry. Its strong independent agent network, robust savings opportunities and proven financial track record make it a worthwhile option for drivers nationwide.
- Why Travelers is best for budget drivers: Travelers’ average full coverage car insurance rates already come in cheaper than the national average, and the company’s numerous car insurance discounts include deals for members of affinity groups, consistent payment and its proprietary usage-based insurance program called IntelliDrive, which tracks your driving in real time and awards discounts for safe practices. Travelers’ claims satisfaction is not as highly ranked by customers compared to other companies Bankrate analyzed, which may be worth considering when comparing low-cost coverage against your likelihood of submitting claims.
Perks
- Low premiums
- Competitive discounts
- Numerous policy options
Drawbacks
- Higher than average NAIC complaints
- Lower than average claims satisfaction score
| Travelers | Nat’l Average | |
|---|---|---|
| Average annual full coverage premium | $1,568 | $1,655 |
| Average annual minimum coverage premium | $508 | $480 |
Best car insurance company for budget drivers
4.7 Bankrate grade
J.D. Power: 861/1,000
AM Best: A++
- Why this company made our list: Travelers is a trusted insurer with over 150 years in the auto insurance industry. Its strong independent agent network, robust savings opportunities and proven financial track record make it a worthwhile option for drivers nationwide.
- Why Travelers is best for budget drivers: Travelers’ average full coverage car insurance rates already come in cheaper than the national average, and the company’s numerous car insurance discounts include deals for members of affinity groups, consistent payment and its proprietary usage-based insurance program called IntelliDrive, which tracks your driving in real time and awards discounts for safe practices. Travelers’ claims satisfaction is not as highly ranked by customers compared to other companies Bankrate analyzed, which may be worth considering when comparing low-cost coverage against your likelihood of submitting claims.
Perks
- Low premiums
- Competitive discounts
- Numerous policy options
Drawbacks
- Higher than average NAIC complaints
- Lower than average claims satisfaction score
| Travelers | Nat’l Average | |
|---|---|---|
| Average annual full coverage premium | $1,568 | $1,655 |
| Average annual minimum coverage premium | $508 | $480 |
View rate Learn more: Travelers Insurance reappraisal
Erie
Best car insurance company for robust coverage
4.6 Bankrate Score
J.D. Power: 880/1,000
AM Best: A+
AVERAGE ANNUAL PREMIUM
$1,233 for full coverage
Get a individualized quote
- Why this company made our list: Travelers is a trusted insurer with over 150 years in the auto insurance industry. Its strong independent agent network, robust savings opportunities and proven financial track record make it a worthwhile option for drivers nationwide.
- Why Erie is best for robust coverage: Erie automatically includes several coverage types and features in its full coverage policies that many competitors only offer as optional add-ons. Drivers can benefit from included rideshare insurance, accident forgiveness and Erie’s Rate Lock feature, which could help keep your premiums consistent over time. While only available in 12 states, the company provides robust coverage and a strong claims experience for drivers in its service areas.
Perks
- Rate Lock feature could help keep premiums steady
- Highly-rated customer service
Drawbacks
- Coverage only available in 12 states
- Below-average ranking for customer experience with digital insurance shopping
| Erie | Nat’l Average | |
|---|---|---|
| Average annual full coverage premium | $1,233 | $1,655 |
| Average annual minimum coverage premium | $413 | $480 |
Best car insurance company for robust coverage
4.6 Bankrate sexual conquest
J.D. Power: 880/1,000
AM Best: A+
- Why this company made our list: Travelers is a trusted insurer with over 150 years in the auto insurance industry. Its strong independent agent network, robust savings opportunities and proven financial track record make it a worthwhile option for drivers nationwide.
- Why Erie is best for robust coverage: Erie automatically includes several coverage types and features in its full coverage policies that many competitors only offer as optional add-ons. Drivers can benefit from included rideshare insurance, accident forgiveness and Erie’s Rate Lock feature, which could help keep your premiums consistent over time. While only available in 12 states, the company provides robust coverage and a strong claims experience for drivers in its service areas.
Perks
- Rate Lock feature could help keep premiums steady
- Highly-rated customer service
Drawbacks
- Coverage only available in 12 states
- Below-average ranking for customer experience with digital insurance shopping
| Erie | Nat’l Average | |
|---|---|---|
| Average annual full coverage premium | $1,233 | $1,655 |
| Average annual minimum coverage premium | $413 | $480 |
View rate Learn more: Erie Insurance review
Auto-Owners
Best car insurance company for discounts
4.5 Bankrate Score
J.D. Power: 891/1,000
AM Best: A++
AVERAGE ANNUAL PREMIUM
$1,312 for full moon coverage
Get a personalized quote
- Why this company made our list: Auto-Owners is another carrier with a strong reputation for providing excellent auto coverage and earned the second-highest J.D. Power claims satisfaction rates of any company on our list of best car insurance companies. Its wide range of coverage and discount options are available to drivers in 26 states.
- Why Auto-Owners is best for discounts: Auto-Owners offers an impressive menu of 12 discounts, which many drivers are likely eligible to receive. Drivers could save by getting a quote ahead of their current policy’s expiration, or by opting for paperless billing and payment options. The company provides three types of student discounts, making it a great option for parents of teens or young drivers who have their own policy to consider.
Perks
- High claims satisfaction among customers
- Low average premium
- Wide range of coverage options
Drawbacks
- Only available in 26 states
- Quotes unavailable online
- Rated below average in J.D. Power’s 2021 Auto Claims Satisfaction Study
| Auto-Owners | Nat’l Average | |
|---|---|---|
| Average annual full coverage premium | $1,312 | $1,655 |
| Average annual minimum coverage premium | $296 | $480 |
Best car insurance company for discounts
4.5 Bankrate score
J.D. Power: 891/1,000
AM Best: A++
- Why this company made our list: Auto-Owners is another carrier with a strong reputation for providing excellent auto coverage and earned the second-highest J.D. Power claims satisfaction rates of any company on our list of best car insurance companies. Its wide range of coverage and discount options are available to drivers in 26 states.
- Why Auto-Owners is best for discounts: Auto-Owners offers an impressive menu of 12 discounts, which many drivers are likely eligible to receive. Drivers could save by getting a quote ahead of their current policy’s expiration, or by opting for paperless billing and payment options. The company provides three types of student discounts, making it a great option for parents of teens or young drivers who have their own policy to consider.
Perks
- High claims satisfaction among customers
- Low average premium
- Wide range of coverage options
Drawbacks
- Only available in 26 states
- Quotes unavailable online
- Rated below average in J.D. Power’s 2021 Auto Claims Satisfaction Study
| Auto-Owners | Nat’l Average | |
|---|---|---|
| Average annual full coverage premium | $1,312 | $1,655 |
| Average annual minimum coverage premium | $296 | $480 |
View rate Learn more: Auto-Owners Insurance review
Amica
Best car insurance company for claims satisfaction
4.4 Bankrate Score
J.D. Power: 907/1,000
AM Best: A+
AVERAGE ANNUAL PREMIUM
$1,430 for full moon coverage
Get a personalized quote
- Why this company made our list: Amica’s standout claims service and customer-centric business model make it a standout choice, based on Bankrate’s analysis, for drivers seeking the best car insurance company.
- Why Amica is best for claims satisfaction: Amica ranks as the second-highest scoring carrier for claims satisfaction out of the top auto insurers surveyed by J.D. Power, earning 32 points above the industry average. The company’s online claim center allows customers to easily report a claim, upload supporting documents and track the claim’s process with a few simple clicks. Its customer representatives are available to support policyholders 24/7.
Perks
- Highly-rated customer service
- Unique optional dividend policies are available
- Low average rates
Drawbacks
- No ridesharing coverage option is available
- Not available in Hawaii
| Amica | Nat’l Average | |
|---|---|---|
| Average annual full coverage premium | $1,430 | $1,655 |
| Average annual minimum coverage premium | $419 | $480 |
Best car insurance company for claims satisfaction
4.4 Bankrate grudge
J.D. Power: 907/1,000
AM Best: A+
- Why this company made our list: Amica’s standout claims service and customer-centric business model make it a standout choice, based on Bankrate’s analysis, for drivers seeking the best car insurance company.
- Why Amica is best for claims satisfaction: Amica ranks as the second-highest scoring carrier for claims satisfaction out of the top auto insurers surveyed by J.D. Power, earning 32 points above the industry average. The company’s online claim center allows customers to easily report a claim, upload supporting documents and track the claim’s process with a few simple clicks. Its customer representatives are available to support policyholders 24/7.
Perks
- Highly-rated customer service
- Unique optional dividend policies are available
- Low average rates
Drawbacks
- No ridesharing coverage option is available
- Not available in Hawaii
| Amica | Nat’l Average | |
|---|---|---|
| Average annual full coverage premium | $1,430 | $1,655 |
| Average annual minimum coverage premium | $419 | $480 |
View rate Learn more: Amica Insurance review
Nationwide
Best car insurance company for personalized coverage
4.4 Bankrate Score
J.D. Power: 876/1,000
AM Best: A+
AVERAGE ANNUAL PREMIUM
$1,301 for broad coverage
Get a personalize quote
- Why this company made our list: Nationwide’s options to tailor coverage based on personal needs solidify it as a top auto insurance company for 2022, based on Bankrate’s research. With near-nationwide availability and a website full of useful insurance information, customers are likely to find the answers they need to customize a Nationwide policy to their exact needs.
- Why Nationwide is best for personalized coverage: Drivers can choose how their policy works with Nationwide, with options to select from standard coverage, usage-based insurance and pay-per-mile. Its SmartRide and SmartMiles telematics programs can help you either earn a discount based on your safe driving habits or provide a flexible premium based on your vehicle usage, respectively. Optional coverage is not as plentiful as some other auto insurers on our list, but personalized options offer valuable control over your financial protection.
Perks
- Two usage-based driving programs could offer highly personalized rates
- Available in most states
Drawbacks
- Customer service scores vary by region
- Few add-ons available
| Nationwide | Nat’l Average | |
|---|---|---|
| Average annual full coverage premium | $1,302 | $1,655 |
| Average annual minimum coverage premium | $465 | $480 |
Best car insurance company for personalized coverage
4.4 Bankrate sexual conquest
J.D. Power: 876/1,000
AM Best: A+
- Why this company made our list: Nationwide’s options to tailor coverage based on personal needs solidify it as a top auto insurance company for 2022, based on Bankrate’s research. With near-nationwide availability and a website full of useful insurance information, customers are likely to find the answers they need to customize a Nationwide policy to their exact needs.
- Why Nationwide is best for personalized coverage: Drivers can choose how their policy works with Nationwide, with options to select from standard coverage, usage-based insurance and pay-per-mile. Its SmartRide and SmartMiles telematics programs can help you either earn a discount based on your safe driving habits or provide a flexible premium based on your vehicle usage, respectively. Optional coverage is not as plentiful as some other auto insurers on our list, but personalized options offer valuable control over your financial protection.
Perks
- Two usage-based driving programs could offer highly personalized rates
- Available in most states
Drawbacks
- Customer service scores vary by region
- Few add-ons available
| Nationwide | Nat’l Average | |
|---|---|---|
| Average annual full coverage premium | $1,302 | $1,655 |
| Average annual minimum coverage premium | $465 | $480 |
View rate Learn more: Nationwide Insurance review
Progressive
Best car insurance company for personalized rate
4.4 Bankrate Score
J.D. Power: 856/1,000
AM Best: A+
AVERAGE ANNUAL PREMIUM
$1,533 for wax coverage
Get a personalized quote
- Why this company made our list: Progressive’s handy rate tools and positive customer satisfaction help secure it as one of our best car insurance selections. Consumers can find options to save based on their own budget and driving habits with a Progressive policy anywhere in the U.S., backed by a financially strong company that earns high ratings from third-party agencies.
- Why Progressive is best for digital policy management: Progressive provides several ways for drivers to save time and money by managing their policy online, such as its Snapshot app, which is a telematics program that monitors driving and offers discounts for safe driving. Even when first deciding what is the right policy for you, you can use its online Name Your Price tool to personalize your buying experience and review coverage options based on your budget. The Progressive mobile app offers instant access to review coverage, ID cards, bill payment and claims submissions.
Perks
- Strong digital tools
- Unique points-based rewards program
- Two usage-based driving programs could help customize rates
Drawbacks
- Higher-than-average rates
- Customer satisfaction scores vary by region
| Progressive | Nat’l Average | |
|---|---|---|
| Average annual full coverage premium | $1,533 | $1,655 |
| Average annual minimum coverage premium | $507 | $480 |
Best car insurance company for personalized rate
4.4 Bankrate score
J.D. Power: 856/1,000
AM Best: A+
- Why this company made our list: Progressive’s handy rate tools and positive customer satisfaction help secure it as one of our best car insurance selections. Consumers can find options to save based on their own budget and driving habits with a Progressive policy anywhere in the U.S., backed by a financially strong company that earns high ratings from third-party agencies.
- Why Progressive is best for digital policy management: Progressive provides several ways for drivers to save time and money by managing their policy online, such as its Snapshot app, which is a telematics program that monitors driving and offers discounts for safe driving. Even when first deciding what is the right policy for you, you can use its online Name Your Price tool to personalize your buying experience and review coverage options based on your budget. The Progressive mobile app offers instant access to review coverage, ID cards, bill payment and claims submissions.
Perks
- Strong digital tools
- Unique points-based rewards program
- Two usage-based driving programs could help customize rates
Drawbacks
- Higher-than-average rates
- Customer satisfaction scores vary by region
| Progressive | Nat’l Average | |
|---|---|---|
| Average annual full coverage premium | $1,533 | $1,655 |
| Average annual minimum coverage premium | $507 | $480 |
View rate Learn more: Progressive Insurance follow-up
Allstate
Best car insurance company for high-value cars
4.0 Bankrate Score
J.D. Power: 876/1,000
AM Best: A+
AVERAGE ANNUAL PREMIUM
$2,390 for entire coverage
Get a personalize quotation mark
- Why this company made our list:As the fourth-largest insurer based on market share, Allstate has a long list of valuable coverage options that make it a standout option for many drivers, but especially for those with unique vehicles. Allstate’s rewards program adds additional benefits, allowing drivers to earn points toward hotels, gift cards and other great perks.
- Why Allstate is best for high-value cars: Allstate is one of the few insurers that offer coverage for custom equipment. The company’s full coverage policies have a higher average cost compared to other carriers on Bankrate’s list, but drivers who have invested money into modifying their vehicles with the best sound equipment likely need more extensive coverage, which Allstate provides. Classic and antique car collectors can opt for Allstate’s classic car insurance so the vehicle’s higher intrinsic value is accounted for in case of costly damage.
Perks
- Classic or custom car coverage
- Unique points-based rewards program
- Two usage-based driving programs could help customize rates
Drawbacks
- Higher-than-average rates
- Customer satisfaction scores vary by region
| Allstate | Nat’l Average | |
|---|---|---|
| Average annual full coverage premium | $2,390 | $1,655 |
| Average annual minimum coverage premium | $520 | $480 |
Best car insurance company for high-value cars
4.0 Bankrate score
J.D. Power: 876/1,000
AM Best: A+
- Why this company made our list:As the fourth-largest insurer based on market share, Allstate has a long list of valuable coverage options that make it a standout option for many drivers, but especially for those with unique vehicles. Allstate’s rewards program adds additional benefits, allowing drivers to earn points toward hotels, gift cards and other great perks.
- Why Allstate is best for high-value cars: Allstate is one of the few insurers that offer coverage for custom equipment. The company’s full coverage policies have a higher average cost compared to other carriers on Bankrate’s list, but drivers who have invested money into modifying their vehicles with the best sound equipment likely need more extensive coverage, which Allstate provides. Classic and antique car collectors can opt for Allstate’s classic car insurance so the vehicle’s higher intrinsic value is accounted for in case of costly damage.
Perks
- Classic or custom car coverage
- Unique points-based rewards program
- Two usage-based driving programs could help customize rates
Drawbacks
- Higher-than-average rates
- Customer satisfaction scores vary by region
| Allstate | Nat’l Average | |
|---|---|---|
| Average annual full coverage premium | $2,390 | $1,655 |
| Average annual minimum coverage premium | $520 | $480 |
View rate Learn more: Allstate Insurance review
Summary: Best car insurance companies in January 2022
| Company | Best for | Bankrate Score | Average annual full coverage premium |
|---|---|---|---|
| USAA | Overall car insurance company | 5.0 | $1,272 |
| State Farm | Overall car insurance company | 4.7 | $1,381 |
| Clearcover* | Digital presence | 5.0 | N/A |
| Geico | High-risk drivers | 4.7 | $1,304 |
| Travelers | Budget drivers | 4.7 | $1,568 |
| Erie | Robust coverage | 4.6 | $1,233 |
| Auto-Owners | Discounts | 4.5 | $1,312 |
| Amica | Claims satisfaction | 4.4 | $1,430 |
| Nationwide | Personalized coverage | 4.4 | $1,301 |
| Progressive | Digital policy management | 4.4 | $1,533 |
| Allstate | High-value cars | 4 | $2,390 |
*Overall standing affected by limited data handiness
How to compare the best car insurance companies
When reviewing multiple car indemnity companies, using an apples-to-apples comparison can be helpful. While an average annual premium estimate may be a good initial indicator of how a party will stack up against others, it doesn ’ t provide the entire story. Quotes should ideally include the same coverage levels and types, with the lapp personal details and fomite information given to each company. Depending on your policy experience preferences, you may besides want to review entrust third-party ratings for an extra appraisal of a company ’ s operation, such as J.D. Power customer satisfaction ratings, the NAIC consumer complaint index and fiscal lastingness grades from multiple recognition rating agencies. Your policy agent can help you obtain this type of information about the car insurers you are interested in .
What you need to know about car insurance
What is car insurance and how does it work?
car insurance is a form of fiscal protection that covers a variety show of vehicle incidents that could affect you, your vehicle, or others and their vehicle.While most states require a specific minimal sum or type of coverage to be purchased, industry experts typically recommend having more robust fiscal protection to protect your finances in the event of a dearly-won loss. Auto policies will cover certain incidents of injury, damage or indebtedness. Coverage limits can be set to satisfy your prefer level of fiscal protection, though not all coverage types will apply in all states or for all policies. In accession, deductibles are specific to certain coverage types. Because a higher deductible means you are will to pay more if you file a title, selecting a higher deductible can lower your agio price. More than a twelve denounce variables unique to each driver go into determining how much you pay for car insurance. As each carrier uses different rat factors and weights when underwriting policies, comparing quotes from multiple insurers is much essential in finding the most low-cost rate. While your accurate level of coverage will depend on the policy you choose, filing a claim could potentially offer you a payout for loss caused by an uninsured motorist, weather event, occurrence of larceny or vandalism, or a battalion of other damage events. similarly, if you are involved in an accident with another driver and they are at defect, their car policy could help cover your medical expenses and property damage ( depending upon the express ) .
What are the different types of car insurance coverage?
Most car policy companies offer exchangeable types of coverage, although variations do exist, particularly with endorsements, or “ add-ons. ” Some companies might offer gap coverage as an option, for example, while another company doesn ’ thyroxine. Below are the types of cable car insurance coverage that most companies offer : Almost always required by law
In most states, drivers are legally required to carry at least certain minimum limits of these coverage types :
- Bodily injury liability coverage pays for the injuries that you cause to others in an at-fault accident.
- Property damage liability coverage pays for the damage you cause to another’s vehicle or other property (like a fence, pole or building) in an at-fault accident.
Sometimes required by law
- Uninsured and underinsured motorist coverage pay for injury and damage caused by a driver who either lacks sufficient coverage or lacks any coverage at all. The Insurance Research Council’s latest study indicated one in eight U.S. drivers was uninsured in 2019.
- Personal injury protection (PIP), also known as no-fault insurance and offered only in certain states, pays for medical expenses you and your passengers incur following an accident, regardless of fault. It also accounts for non-medical expenses incurred as a result of an accident, such as lost wages or the cost of childcare. PIP is typically required in no-fault states.
- MedPay is similar to PIP insurance coverage but includes only payments for medical expenses. It is required in some states and optional in others.
Required if you have a loan or lease
If you finance or lease your car, your fiscal mental hospital will probable require that you have a “ broad coverage ” policy, which includes the follow coverage types and adds coverage for damage to your fomite :
- Collision coverage pays for damages to your vehicle caused by a collision. If you collide with another car, a tree, a pole, a building or a pedestrian, your collision coverage is the part of the policy that will pay for the damage to your vehicle.
- Comprehensive coverage pays for damage to your car caused by non-collision losses like theft, vandalism and storm damage. Comprehensive also pays for damages caused by hitting an animal and cracked windshields. According to the Triple-I, approximately 80% of drivers carry this optional coverage.
however, there are more types of car policy coverage available to you that may be worth discussing with your insurance company. additionally, each country has its own car insurance laws and each driver has a unique situation. Talking with a license agent can help you determine the best coverage types and limits for your needs .
What are the different types of car insurance discounts?
finally, most major car insurers offer the follow car indemnity discounts that might help you lower your premium :
- Multi-policy, sometimes called multi-line or bundling, could earn you a discount on each policy you insure with the same company. This discount is common for insuring both a home and auto policy but is also sometimes offered for having other policies as well, like renters insurance, pet insurance or life insurance..
- Multi-car discount could save you money if you insure more than one vehicle on the same policy.
- Claims-free is commonly offered if you do not have any losses on your driving record for three to five years.
- Good student discount is usually available for full-time students under the age of 25 who have a certain grade point average or letter-grade average.
- Telematics programs are becoming more common with many car insurance companies. These usage-based insurance programs track your driving patterns with a mobile app or plug-in device. The safer you drive, the more you might save.
Keep in mind that indemnity regulations vary by express. This means that some coverage types and discounts may not be available where you live .
Why location matters when choosing car insurance
car insurance rates are based on several factors, and your city, state and ZIP code are among the most impactful. If you recently moved, it may be a thoroughly theme to compare companies to ensure that your car indemnity supplier is hush the best fit for your needs. This is specially true if you have moved across express lines, as car indemnity is not standardized across the state. Adding a comprehensive review of your car policy coverage as function of your moving checklist is a good way to remember this important footfall. To view Bankrate ’ south picks for the best car insurance in your express, select it from the table below. 
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How much does car insurance usually cost?
When answering the common question “ how much is car indemnity, ” it ’ randomness significant to know that rates are highly subject on the personal denounce factors and vehicle data drivers provide when submitting for a quote. however, you can still use the national average as a helpful point of comparison when evaluating your quoted rate. nationally, full coverage policies average $ 1,655 per class. “ Full coverage ” refers to a policy that includes liability, collision coverage and comprehensive coverage. Outside of your selected policy type — minimum or full coverage — early factors will significantly influence your concluding cost. Insurers base car insurance rates on a perceive level of risk, which means that the follow factors ( and more ) can impact your premium :
- Driving record: If you have a history of accidents, tickets or DUI convictions, you’ll likely pay more for coverage, because insurers view you as more likely to file a claim in the future.
- Age and driving experience: Younger drivers tend to have less experience on the road, which means accidents are more likely. Generally, the older you are, the less you’ll pay. Hawaii, however, does not allow insurance carriers to use age as a rating factor.
- State and city: Different states have different insurance laws, different accident statistics and different costs of living. Even your city and ZIP code (in most states) can influence how much you pay.
- Coverage types and levels: Choosing fewer coverage types and lower limits will generally mean a lower premium, but it also means less financial protection. If you have lower limits and you’re in an accident, you could be facing higher out-of-pocket costs.
- Vehicle make and model: Each make and model of vehicle has unique features which impact the likelihood of accidents, the severity of accidents and the cost to repair the vehicle itself. Because of this, each vehicle will cost a different amount to insure.
- Credit-based insurance score: In most states, your credit tier is used to determine how likely you are to file a claim. Drivers with lower credit scores generally pay higher premiums.
- Insurance lapse history: Because most states require drivers to have at least minimum levels of coverage, lapses in insurance can result in higher premiums when you take out a policy again.
additionally, because each insurance company will weigh each factor differently, getting multiple quotes helps ensure you choose your best choice for cost and coverage .
Frequently asked questions
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- car insurance is required in all U.S. states ( except New Hampshire and Virginia ) equally well as Washington, D.C. Virginia drivers who forgo car coverage must pay a $ 500 uninsured motive vehicle fee. To help avoid fiscal distress after accidents and other cover events, indemnity experts typically recommend purchasing limits in excess of your state minimal floor. Working with an agent could help you decide how much coverage to buy .
- broadly, the more accidents you have on your record, the higher your agio will be.Car indemnity companies frequently use a comprehensive examination Loss Underwriting Exchange ( C.L.U.E. ) report and motor fomite report ( MVR ) to help determine rates. These reports include information regarding your anterior accidents, traffic violations, license status, claims history and other apposite details of your driving history. however, many carriers offer accident forgiveness as an second. Car indemnity companies often use a comprehensive Loss Underwriting Exchange ( C.L.U.E. ) report and motor fomite report ( MVR ) to help determine rates. These reports include information regarding your anterior accidents, traffic violations, license status, claims history and other apposite details of your driving history. however, many carriers offer accident forgiveness as an second. If you are involved in an accident, your car insurance company may “ forgive ” your incident rather of increasing your rates. however, accident forgiveness doesn ’ thyroxine transfer to early carriers, so that accident will probably affect your rates as it will appear on your C.L.U.E. report. Keeping up on car maintenance can help reduce the hazard of fomite bankruptcy, which can sometimes lead to accidents. Ed Peterson, CEO of Wrench, says that, “ With healthy tires, windshield wipers, fluids, spark plugs, etc., you can be confident your car will perform and get you where you need to go safely regardless of upwind. ”
- Most major car policy companies offer multiple discounts, many of which are geared toward good students, safe drive and bundling your car and home coverage with the lapp carrier. Most cable car policy companies list their available discounts on their web site. however, eligibility and claim savings can be determined by speaking with a accredited agent that represents your ship’s company .
- We found that Auto-Owners, USAA and Amica have some of the cheapest average rates, but the cheapest cable car policy company will depend on your unique denounce factors. Each company has its own military rank algorithm, which means that even the same coverage will cost unlike amounts with different companies. Shopping around could help you find the lowest-priced policy for you .
- Having the best car indemnity coverage can be an significant part of establishing fiscal peace of mind for you and your family. While state requirements vary, it is about always a safe bet to have an appropriate flat of coverage to protect your money and assets. John Colletti, adjunct commercial enterprise professor at north Central College, recommends beginning the job of learning the important character car policy plays in providing fiscal protection angstrom early as you can drive. “ As families discuss a child ’ s registration to driver education class, include a talk explaining monetary considerations and authoritative terms to improve fiscal literacy, ” Collettti says. He explains that doing sol can help young drivers grasp the concept of vehicle ownership and early important topics that impact your fiscal health .
Methodology
Bankrate utilizes Quadrant Information Services to analyze 2022 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 clean drive record, adept credit and the follow entire 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 minimal coverage limits, Bankrate used minimum coverage that meets each state ’ second requirements. Our base profile drivers own a 2020 Toyota Camry, commute five days a week and drive 12,000 miles per annum. These are sample rates and should entirely be used for comparative purposes .
Bankrate Scores
Bankrate Scores chiefly reflect a burden rank of industry-standard ratings for fiscal strength 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 reasoned company with a history of convinced customer hold and claims-paying ability. In our evaluation, third-party ratings from J.D. Power, AM Best, Standard & Poor ’ s, National Association of Insurance Commissioners and Moodys had a meaning impingement on the companies ’ Bankrate Scores. Our top picks for “ best for ” reflect a combination of Bankrate Scores and handiness to drivers around the country, in addition to the specific qualities associated with each party. *Scores reflect the party ’ second performance in states available .
J.D. Power scores
J.D. Power is a global market research company that has decades of experience within the automotive, fiscal and health industries, among others. It conducts annual surveys on customer satisfaction across these sectors to help provide insight into the qualities that matter most between consumers and businesses. Its car policy studies take into history customer satisfaction across several categories that impact consumers, including customer service, claims process, policy offerings and premiums, which make its scores a utilitarian qualitative joyride in assessing car insurers .