There’s just no way around it: Car insurance quote is something you need.
Your state car insurance regulations probably require you to have some sort of insurance coverage.
Your car financing or leasing company probably requires coverage, and let’s face it, you probably don’t want to have to come up with thousands of dollars for vehicle repairs, property repairs, or medical costs in the event of an accident.
In brief, you buy a car insurance policy from an auto insurance company. You pay them annual premiums, and if you have an accident, you make a claim that covers your financial losses that occurred because of the accident. Read How Car Insurance Works and How Much Car Insurance Do I Need? for more information.
Getting a good deal on car insurance is all about finding the balance between the coverage you want and annual premiums that fit your budget. We have found the cheapest car insurance companies to help you find the right car insurance company for your budget.
Cheapest Car Insurance Companies
USAA is the cheapest car insurance company on our list, with the lowest average national rates of $2,537. USAA also has the cheapest auto insurance rates for various demographic profiles, ranging from 17-year-old males to 60-year-old females.
Geico is the second-cheapest auto insurance company, with average annual rates of $3,215. Geico’s rates for teen drivers are especially low, and Geico’s average rates are low for drivers with one accident on their record.
State Farm is the third-cheapest car insurance company, with national average rates of $3,260. That’s well below the norm for the 10 car insurance companies on our list.
American Family has the fourth cheapest national average car insurance rates, at $3,443 per year.
Nationwide has car insurance rates that are just behind American Family at $3,450 per year and right around the average annual rate for companies on our list. Though it’s midpack when it comes to rates for all drivers on average, Nationwide charges the cheapest average rates for drivers with poor credit.
Progressive car insurance rates are, on average, the sixth highest of the 10 companies on this list and run about $4,035 per year. However, their rates for some groups, like 60-year-old-married females, are competitive.
Farmers car insurance rates tend to be more expensive than much of the competition, especially for drivers with one accident on their record. The average annual rate for all Farmers customers is $4,194.
Travelers car insurance rates are among the most expensive of the 10 companies on this list, at $4,434 per year on average. They are especially expensive for teen drivers and drivers with poor credit.
Allstate average car insurance rates are so high, you may not feel like you’re in good hands. At $4,887 on average per year, Allstate rates are higher than the norm for all the driver profiles we studied.
Liberty Mutual car insurance rates are not currently available.
How We Found the Cheapest Car Insurance Companies
At U.S. News, we’re all about helping people make life’s important decisions. Our college rankings, launched in 1983, set the standard in educational rankings. Our ranking in other fields, like healthcare, civic areas, and the automotive sphere, help people and thought leaders make choices that make lives better. Now we’re continuing to empower you with the information you need to make the right choices for your life with our Cheapest Car Insurance Rankings.
For extra information on car insurance rates, U.S. News also worked with Quadrant Information Services to provide a report of average insurance rates in all 50 states from the 10 largest national car insurance companies. The rates are based on profiles for both male and female drivers aged 17, 25, 35, and 60. Vehicles used include the 2018 Honda Civic, 2018 Toyota RAV4, 2018 Ford-F-150, 2015 Honda Civic, 2015 Toyota RAV4, and 2015 Ford-F-150, with annual mileage of 6,000 and 12,000. Three car insurance coverage levels were used, as were credit tiers of good, fair, and poor. Clean driving records and records with one accident, one speeding violation, and one DUI were also used in the calculations. The rates shown here are for comparative purposes only. Individual rates will differ. Liberty Mutual car insurance rates are not currently available
How Much Is Car Insurance?
Car insurance rates vary depending on your situation, but average rates from the companies we surveyed ran as low as $1,449 per year for a 60-year-old married female with USAA to $12,850 per year for a 17-year-old male with Travelers. The average annual rate for all drivers charged by the 10 companies in our study was $3,915, though USAA had the cheapest average annual rate at $2,537. Note that these rates are for comparative purposes only. Your rates may differ, and you may be able to find cheaper insurance through a company not included in our study.