- How much risk you present to an insurance company
- What it costs your insurer to conduct business
- How much money your insurance carrier estimates it will need to pay all claims during the year
For example, you ’ ll visit in the graph below that the cheapest price for the same policy can be hundreds of dollars less than the most expensive. figure your state in the search field to see how a lot average rates differ by ship’s company for a wide coverage policy :
| State
|
Company
|
Average Annual Rate
|
|---|---|---|
| Alaska | State Farm | $979 |
| Alaska | Geico | $1,075 |
| Alaska | Progressive | $1,080 |
| Alaska | Allstate | $1,304 |
| Alabama | Geico | $759 |
| Alabama | Mid Century | $1,172 |
| Alabama | Nationwide | $1,197 |
| Alabama | Allstate | $1,257 |
| Alabama | State Farm | $1,572 |
| Alabama | Progressive | $1,840 |
| Arkansas | Geico | $980 |
| Arkansas | State Farm | $1,165 |
| Arkansas | Farmers | $1,176 |
| Arkansas | Nationwide | $1,483 |
| Arkansas | Progressive | $1,594 |
| Arkansas | Allstate | $1,821 |
| Arizona | Geico | $977 |
| Arizona | Progressive | $1,047 |
| Arizona | Farmers | $1,195 |
| Arizona | State Farm | $1,392 |
| Arizona | Nationwide | $1,719 |
| Arizona | Allstate | $1,807 |
| California | Geico | $944 |
| California | United Financial | $1,128 |
| California | Nationwide | $1,379 |
| California | Nationwide | $1,756 |
| California | Farmers | $1,932 |
| California | State Farm | $1,967 |
| Colorado | Geico | $813 |
| Colorado | State Farm | $1,241 |
| Colorado | Farmers | $1,516 |
| Colorado | Progressive | $1,559 |
| Colorado | Allstate | $1,889 |
| Connecticut | Geico | $946 |
| Connecticut | Nationwide | $1,254 |
| Connecticut | State Farm | $1,463 |
| Connecticut | Progressive | $2,026 |
| Connecticut | Allstate | $2,462 |
| Connecticut | Foremost | $2,478 |
| DC | Geico | $713 |
| DC | Progressive | $1,496 |
| DC | State Farm | $1,518 |
| DC | Nationwide | $1,977 |
| DC | Allstate | $2,913 |
| Delaware | Geico | $1,134 |
| Delaware | Progressive | $1,333 |
| Delaware | Nationwide | $1,492 |
| Delaware | State Farm | $1,872 |
| Delaware | Allstate | $2,398 |
| Florida | Geico | $1,192 |
| Florida | State Farm | $1,611 |
| Florida | Progressive | $1,754 |
| Florida | 21st Century Centennial | $1,972 |
| Florida | Allstate | $2,584 |
| Georgia | Geico | $762 |
| Georgia | Nationwide | $1,303 |
| Georgia | State Farm | $1,372 |
| Georgia | Progressive | $1,563 |
| Georgia | Allstate | $1,701 |
| Hawaii | Geico | $857 |
| Hawaii | State Farm | $1,023 |
| Hawaii | Allstate | $1,389 |
| Hawaii | Progressive | $1,646 |
| Hawaii | Farmers | $2,376 |
| Iowa | Amco Ins Co | $645 |
| Iowa | Geico | $693 |
| Iowa | Farmers | $933 |
| Iowa | State Farm | $945 |
| Iowa | Progressive | $1,286 |
| Iowa | Allstate | $1,589 |
| Idaho | Geico | $713 |
| Idaho | Farmers | $800 |
| Idaho | State Farm | $845 |
| Idaho | Progressive | $848 |
| Idaho | Depositors Ins Co | $863 |
| Idaho | Allstate | $1,577 |
| Illinois | Geico | $590 |
| Illinois | Amco Ins Co | $678 |
| Illinois | State Farm | $1,011 |
| Illinois | Illinois Farmers | $1,170 |
| Illinois | Progressive | $1,193 |
| Illinois | Allstate | $1,375 |
| Indiana | Geico | $651 |
| Indiana | Illinois Farmers | $748 |
| Indiana | Progressive | $854 |
| Indiana | Nationwide | $866 |
| Indiana | State Farm | $1,095 |
| Indiana | Allstate | $1,569 |
| Kansas | Nationwide | $814 |
| Kansas | Geico | $823 |
| Kansas | State Farm | $1,166 |
| Kansas | Farmers | $1,249 |
| Kansas | Progressive | $1,682 |
| Kansas | Allstate | $1,718 |
| Kentucky | Geico | $881 |
| Kentucky | Nationwide | $1,631 |
| Kentucky | Progressive | $1,693 |
| Kentucky | State Farm | $1,734 |
| Kentucky | Allstate | $2,822 |
| Louisiana | Geico | $1,540 |
| Louisiana | State Farm | $2,023 |
| Louisiana | Allstate | $2,316 |
| Louisiana | Progressive | $2,881 |
| Massachusetts | Geico | $865 |
| Massachusetts | State Farm | $884 |
| Massachusetts | Progressive | $1,272 |
| Massachusetts | Allstate | $1,742 |
| Maryland | Progressive | $1,102 |
| Maryland | Nationwide | $1,114 |
| Maryland | Geico | $1,199 |
| Maryland | State Farm | $1,357 |
| Maryland | Allstate | $2,177 |
| Maine | Geico | $517 |
| Maine | State Farm | $948 |
| Maine | Progressive | $1,025 |
| Maine | Allstate | $1,212 |
| Michigan | Geico | $1,027 |
| Michigan | Progressive | $1,714 |
| Michigan | Titan | $2,177 |
| Michigan | Allstate | $2,849 |
| Michigan | State Farm | $3,135 |
| Michigan | Farmers | $3,999 |
| Minnesota | Geico | $935 |
| Minnesota | Illinois Farmers | $1,030 |
| Minnesota | Allied | $1,188 |
| Minnesota | State Farm | $1,190 |
| Minnesota | Progressive | $1,295 |
| Minnesota | Allstate | $1,483 |
| Missouri | Allied | $724 |
| Missouri | Geico | $800 |
| Missouri | Farmers | $1,051 |
| Missouri | State Farm | $1,279 |
| Missouri | Progressive | $1,303 |
| Missouri | Allstate | $1,769 |
| Mississippi | Geico | $894 |
| Mississippi | Nationwide | $1,184 |
| Mississippi | Progressive Gulf Ins Co | $1,268 |
| Mississippi | State Farm | $1,353 |
| Mississippi | Allstate | $1,917 |
| Montana | Geico | $848 |
| Montana | Progressive | $1,112 |
| Montana | State Farm | $1,149 |
| Montana | Depositors | $1,238 |
| Montana | Mid Century | $1,244 |
| Montana | Allstate | $1,753 |
| North Carolina | Progressive | $622 |
| North Carolina | Geico | $704 |
| North Carolina | State Farm | $845 |
| North Carolina | Farmers | $1,046 |
| North Carolina | Nationwide | $1,071 |
| North Carolina | Nationwide | $1,205 |
| North Carolina | Allstate | $1,230 |
| North Dakota | Allied | $753 |
| North Dakota | Geico | $897 |
| North Dakota | Progressive | $1,047 |
| North Dakota | State Farm | $1,132 |
| North Dakota | Allstate | $1,502 |
| North Dakota | Mid Century | $2,560 |
| Nebraska | Allied | $711 |
| Nebraska | Geico | $978 |
| Nebraska | State Farm | $1,003 |
| Nebraska | Mid Century | $1,192 |
| Nebraska | Allstate | $1,393 |
| Nebraska | Progressive | $1,403 |
| New Hampshire | Geico | $550 |
| New Hampshire | Nationwide | $867 |
| New Hampshire | State Farm | $1,036 |
| New Hampshire | Progressive | $1,465 |
| New Hampshire | Allstate | $1,588 |
| New Jersey | 21st Century Centennial | $762 |
| New Jersey | Geico | $1,104 |
| New Jersey | Progressive | $1,255 |
| New Jersey | Allstate NJ | $1,761 |
| New Jersey | State Farm | $1,847 |
| New Mexico | Geico | $894 |
| New Mexico | Progressive | $998 |
| New Mexico | State Farm | $1,177 |
| New Mexico | Farmers | $1,251 |
| New Mexico | Allstate | $1,948 |
| Nevada | Geico | $1,342 |
| Nevada | Mid Century | $1,537 |
| Nevada | Progressive | $1,663 |
| Nevada | State Farm | $1,726 |
| Nevada | Victoria | $1,955 |
| Nevada | Allstate | $2,256 |
| New York | Geico | $993 |
| New York | Progressive | $1,160 |
| New York | Allstate | $1,587 |
| New York | State Farm | $1,855 |
| New York | Nationwide | $2,098 |
| New York | Foremost | $2,858 |
| Ohio | Geico | $619 |
| Ohio | State Farm | $881 |
| Ohio | Farmers | $887 |
| Ohio | Progressive | $999 |
| Ohio | Nationwide | $1,015 |
| Ohio | Allstate | $1,310 |
| Oklahoma | Geico | $1,050 |
| Oklahoma | Farmers | $1,327 |
| Oklahoma | State Farm | $1,416 |
| Oklahoma | Allstate | $1,918 |
| Oklahoma | Progressive | $2,506 |
| Oregon | Geico | $933 |
| Oregon | State Farm | $1,043 |
| Oregon | Nationwide | $1,121 |
| Oregon | Progressive | $1,238 |
| Oregon | Farmers | $1,594 |
| Oregon | Allstate | $1,656 |
| Pennsylvania | Geico | $703 |
| Pennsylvania | Nationwide | $711 |
| Pennsylvania | State Farm | $1,284 |
| Pennsylvania | Allstate | $1,729 |
| Pennsylvania | Progressive | $3,183 |
| Rhode Island | State Farm | $1,132 |
| Rhode Island | Geico | $1,292 |
| Rhode Island | Nationwide | $1,678 |
| Rhode Island | Progressive | $2,092 |
| Rhode Island | Allstate | $2,246 |
| South Carolina | Geico | $1,050 |
| South Carolina | Allstate | $1,178 |
| South Carolina | Nationwide | $1,200 |
| South Carolina | Progressive | $1,359 |
| South Carolina | State Farm | $1,511 |
| South Dakota | Geico | $708 |
| South Dakota | Nationwide | $938 |
| South Dakota | Mid Century | $982 |
| South Dakota | State Farm | $1,052 |
| South Dakota | Progressive | $1,110 |
| South Dakota | Allstate | $1,562 |
| Tennessee | Geico | $764 |
| Tennessee | Nationwide | $796 |
| Tennessee | State Farm | $1,131 |
| Tennessee | Progressive | $1,223 |
| Tennessee | Mid Century | $1,576 |
| Tennessee | Allstate | $1,794 |
| Texas | Farmers | $905 |
| Texas | Geico | $1,027 |
| Texas | Colonial | $1,247 |
| Texas | Progressive | $1,328 |
| Texas | State Farm | $1,348 |
| Texas | Allstate | $1,949 |
| Utah | Geico | $684 |
| Utah | Mid Century | $1,016 |
| Utah | Allied | $1,119 |
| Utah | Allstate | $1,353 |
| Utah | Progressive | $1,503 |
| Utah | State Farm | $1,518 |
| Virginia | Nationwide | $744 |
| Virginia | Geico | $894 |
| Virginia | State Farm | $969 |
| Virginia | Allstate | $1,102 |
| Virginia | Progressive | $1,150 |
| Vermont | Geico | $485 |
| Vermont | Nationwide | $789 |
| Vermont | Progressive | $1,103 |
| Vermont | Allstate | $1,183 |
| Vermont | State Farm | $1,255 |
| Washington | Nationwide | $1,028 |
| Washington | Geico | $1,075 |
| Washington | Progressive | $1,092 |
| Washington | State Farm | $1,160 |
| Washington | Farmers | $1,335 |
| Washington | Allstate | $1,455 |
| Wisconsin | Geico | $663 |
| Wisconsin | State Farm | $914 |
| Wisconsin | Mid Century | $1,021 |
| Wisconsin | Artisan | $1,176 |
| Wisconsin | Allstate | $1,484 |
| Wisconsin | Nationwide | $2,851 |
| West Virginia | Geico | $1,149 |
| West Virginia | Progressive | $1,238 |
| West Virginia | State Farm | $1,309 |
| West Virginia | Nationwide | $1,327 |
| West Virginia | Allstate | $1,853 |
| Wyoming | State Farm | $1,128 |
| Wyoming | Geico | $1,287 |
| Wyoming | Farmers | $1,688 |
| Wyoming | Allstate | $1,874 |
*Rates were fielded by Quadrant Information Services from up to six major insurers in about every ZIP code of each submit. Driver profile : male, age 40, married, clean record and good credit, driving 2016 Honda Accord. Full coverage of 100/300/100 with comprehensive and collision ; $ 500 deductible. here are countrywide average car insurance rates by company :
- Geico: $901
- Nationwide/Allied; $1,227
- State Farm: $1,313
- Farmers: $1, 351
- Progressive: $1,415
- Allstate: $1,758
Assessing your Risk
Weighting different factors about you policy companies assess a act factors to determine your likelihood of experiencing an accident or passing, or how much of a gamble you pose. not all companies consider the like factors. Additionally, some companies attach more significance to certain factors than others. That means your rates will vary from one policy company to another depending upon the military rank factors each insurance company uses and the burden they place on the different factors. The take after factors influence car policy rates as they are normally used by insurers to assess if you are a bad driver or not :
Read more: The Best Car Insurance Companies for 2022
- Your age
- The make and model of your car
- Your driving record
- Where you drive and keep (garage) your car
- Your claims history
- Your credit rating
Using Statistics to help Assess Risk
Auto policy companies analyze statistical information about millions of drivers. They then use it to identify characteristics of drivers who are more probable to file claims that the company would have to pay. The statistical information that indemnity companies collect regarding driver types and so on can differ, thus that adenine good can make policy rates differ. When calculating how much you pay, insurance carriers besides normally group you together with other people whose age, sex, occupation and have are like to yours. If you fall in a group considered humble hazard, you are likely to pay less for coverage than if you are put in a group considered bad .
Planning for Future Claims Costs
The amount needed by the insurance company to cover the costs of accidents or losses that may happen in the future besides plays a function in determining your rate, and besides varies by company. Since indemnity companies can ’ metric ton examine into the future, they must use past claims history and experiences to help determine future losses that they will have to pay out on. Because each company has had different claims experiences with the groups of people they insure, the rates charged by different companies are never identical. “ Each car policy company assesses risk differently, so some may hike your rate for a claim by a lot, while others may increase it a little, and hush others may not ding your rate at all if you ’ ve been accident-free for many years and have a clean driving record, ” says Penny Gusner, consumer analyst for CarInsurance.com. “ That means in some cases, even if you ’ re insured by the cheapest company in your state, you ’ ll need to switch to keep getting the lowest rate after a call. ” CarInsurance.com ’ second rate analysis shows that it pays to spend some time shopping for your policy after a claim or moving irreverence, Gusner says. “ Our data research shows that for the insurers surveyed, a driver can save up to $ 4,300, the modal being about $ 600, by comparing car insurance quotes after an accident claim. ”
The Cost of Doing Business
There is besides the varying cost of doing business as an indemnity supplier that is taken into account when rates are set. Each caller ‘s cost of doing business ( how much they pay to sell and service policies ), along with their fiscal goals, is unlike, resulting in different prices being charged .
Comparing Rates is the Smartest Way to Save on Car Insurance
car policy premiums can vary widely between indemnity companies due to the rat factors they use, the statistical information they look at, their own claims feel and the cost of doing business. That ’ randomness why to get the best rates you need to do a car indemnity comparison, and see which companies have the lowest rates for the coverage you want. You can estimate car indemnity costs by deciding how much coverage you need, taking into account your long time and where you live. Enter your ZIP code and in the tool below, and you ’ ll see modal car indemnity rates for the coverage level selected. You ’ ll besides see the highest and lowest rate fielded from up to six major insurers – for the like policy. This shows you how much you can save by comparison shopping .
Car Insurance Companies and Customer Service
Knowing the reasons why car insurance rates are never the lapp for any two policy companies provides bonus to comparison denounce. But Penny Gusner, consumer analyst for CarInsurance.com, says you should never select an insurance company on price alone. It ‘s wise to consider how you will be treated when you actually have to use your indemnity and file a claim. here are how major insurers scored, out of 100, on Insure.com ‘s Best car indemnity ship’s company survey of 3,700 consumers. Participants were asked about value for price, customer service and claims handling .
| Rank
|
Company
|
Overall Score
Read more: Saving on car insurance.
|
|---|---|---|
| 1 | USAA | 89.98 |
| 2 | American Family | 88.34 |
| 3 | Allstate | 88.34 |
| 4 | CSAA Insurance Group | 88.09 |
| 5 | Mercury | 87.71 |
| 6 | Auto Club of Southern California (Auto Club Enterprise Insurance Group) | 87.67 |
| 7 | Liberty Mutual | 87.17 |
| 8 | The Auto Club Group (ACG) – AAA | 86.84 |
| 9 | Progressive | 86.56 |
| 10 | Erie | 86.31 |
| 11 | Geico | 86.00 |
| 12 | The General | 85.81 |
| 13 | Farmers | 85.24 |
| 14 | State Farm | 84.76 |
| 15 | Esurance | 84.56 |
| 16 | Nationwide | 84.40 |
| 17 | Metlife | 84.29 |
| 18 | Safeco | 83.35 |
| 19 | Hartford | 82.80 |
| 20 | Travelers | 81.34 |