Most companies have made it very easy for you to obtain a free auto insurance quote, allowing you to compare auto insurance quotes from multiple places and get the lowest rates available. Using our 100% free comparison insurance quote search engine, or calling our toll-free number, you can quickly compare several auto insurance quotes side-by-side, making finding the lowest-cost fully insured auto insurance a breeze.
Below are five of the most popular budget-friendly providers pulled from our table above, along with the average monthly rates of each company’s full coverage auto insurance policy for a driver with a clean record, and after a single speeding ticket, a negligent crash, or a DUI. After carefully reviewing companies rates, coverage policies, and customer reviews, we found five providers that struck a better balance of solid auto insurance coverage and moderate prices. Of the largest providers shown, Bankrate found that Erieand Auto-Owners offers the lowest average premiums for various driver profiles, both liability-only and full-coverage auto insurance.
The following table shows average car insurance rates by multiple driver profiles among the largest companies. Here are the annual car insurance rates from the top six largest U.S. car insurers, as well as the annual average rates and availability by state from a few smaller companies.
Bankrate rates the largest car insurers by market share, based on annual average rates, coverage options, and discounts, in order to find the lowest rates. If you are wondering who has the cheapest car insurance near you, our rate data analysis by our insurance experts can help. While these companies might rate differently depending on your coverage needs, you can use Bankrates scores to help you decide which insurance companies are worth targeting for the best car insurance at a favorable rate.
NerdWallet chose these companies for their lower rates and availability across more states, but there might be more affordable auto insurance options where you live. For instance, there are plenty of Farm Bureau Insurance companies that are only available in one state – and often were some of the least expensive, according to a NerdWallet us state-by-state analysis from this year. Our analysis found that USAA and State Farm are the countrys most affordable big-name insurers.
Geico has the lowest rates, on average, of any of the nations largest insurers. While Progressive is also the least expensive insurance company by both liability and state-minimums, Geicos rates are only a few dollars higher. Geico rounds out Bankrates list of cheapest big-name auto insurers, at $433 per year for minimal coverage. Companies 6 Months of Insurance with No Insurance History 6 Months of Insurance With 5 Years of Coverage Allstate $1,131 $984 Farmers $923 $774 GEICO $633 $548 Liberty Mutual $1,050 $752 Nationwide $661 $527 Progressive $688 $625 State Farm $646 $646 USAA $664 $614 If you are looking for coverage and you do not have any insurance experience, or you have just a history of carrying minimal state-minimum coverage, then Geico may be an affordable option.
If you are looking for an alternative to USAA, which still offers cheaper coverage to service members, GEICO usually has better rates, thanks to the 15% GEICO Military Discount. Drivers that are USAA-eligible and looking to save should always shop around for a USAA quote; it consistently has some of the lowest rates in the nation. Based on our research, USAA charges a median annual premium of $990 for coverage of a 35-year-old male driver, making it one of the lowest-cost auto insurers we found. Liberty Mutual is the cheapest auto insurance company for teenage drivers, out of the ones we examined for rates on a 17-year-old buying his or her own fully insured policy.
We found the average 35-year-old driver pays $1,312 per year for insurance from State Farm, but the States Farm Drive Safe & Save(tm) Discount Program could help get the $1 average lower. For shopping, WalletHub found some of the lowest-rated auto insurance companies for drivers with bad credit, looking at the average rates of a 45-year-old, single male with minimal coverage and a clean driving record. Geico has the lowest rates for drivers with bad credit, out of all of the car insurance companies we reviewed. According to the National Association of Insurance Commissioners (NAIC), car insurers can offer higher rates to drivers with lower credit scores in order to offset that increased risk.
This consideration is particularly significant considering that the average insurance costs for drivers with bad credit could be over $1,500 higher per year than the premiums of those in excellent groups. Rates will vary from one company to the next, and insurance that is cheapest might not provide you all of the coverage that you want. The same company that offers the lowest car insurance rates to your neighbors might not give you the lowest prices. Car insurance can cost you on average $1,674 a year, or around $140 a month for comprehensive coverage, and it may be difficult for many drivers to narrow down which companies are offering the best rates.
To find the nations lowest-rated insurers for drivers who have been in a crash that was not their fault, WalletHub analyzed the average quotes of a 45-year-old, single male with minimal coverage, good credit, and a crash that was their fault. MoneyGeek found the average driver–defined as a 40-year-old male with no driving violations, 100/300/100 liability insurance, and $1,000 comprehensive/collision coverage–can save as much as 27% on auto insurance by comparing auto insurance quotes. Drivers still can find cheaper coverage with bad credit by shopping around, with USAA and GEICO being the lowest-cost averages. Average Annual Rates for Minimum Coverage Companies Difference in Annual Value Between Minimum Coverage and Full Coverage Car Insurance Rates From Larger Companies Allstate $759 $1,622 Farmers $656 $1,174 Geico $380 $888 Progressive $577 $985 State Farm $550 $941 USAA* $419 $751 Smaller Companies Cheaper Car Insurance Rates Secura $287 $536 MMG $309 $530 Hastings Mutual $419 $491 Mutual of Enumclaw $469 $613 Central Insurance $491 $599 USAA* is only available to service members, veterans, and military families.