USAA also has very competitive rates and is available only to military members, veterans and their families. An insurance policy with only the minimum coverage required in your state would be the cheapest type of car insurance.
Most states require a minimum level of liability car insurance. Some states also require uninsured motorist coverage and other types of coverage. At some point, as your vehicle gets older, paying for collision and comprehensive coverage no longer makes sense. But if you would be in a financial jam if your car were totaled, stolen or extensively damaged by a problem covered by the collision and comprehensive insurance, keeping them makes sense.
Select Region. United States. United Kingdom. All ratings are determined solely by our editorial team. Amy Danise. Editorial Note: Forbes Advisor may earn a commission on sales made from partner links on this page, but that doesn't affect our editors' opinions or evaluations. Read more. Compare Cheap Car Insurance Rates. Our ratings take into account average auto insurance rates, customer happiness and company technology.
Rates overall Excellent. Rates for good drivers Excellent. Rates for drivers with a speeding ticket Excellent. Compare Rates Compare rates from participating partners via EverQuote's secure site. Why We Picked It. Erie Insurance. Rates overall Very good. Geico 4. Rates for drivers with a speeding ticket Very good. State Farm. Rates for good drivers Good. Rates overall Good. Rates for drivers with a speeding ticket OK.
Get quotes from multiple car insurance companies. Even if you have strikes against you such as an accident or moving violation, you can still shop around for cheap auto insurance rates.
Because of the wide variation in pricing, the company that offered you a good rate for a clean record may not be the most competitive when your driving record changes. Review auto insurance discounts with your insurance agent periodically. Ask your agent for a discount review. Look for a good bundling discount by buying your auto insurance and another policy from the same company, such as renters or homeowners insurance.
To keep rates down, parents should add teen drivers to their existing family policy. In addition, shop around for good student discounts for teens with specific grade-point averages as well as college student discounts attending school a minimum distance away from home. However, this is only a good move if you have the funds to pay a higher deductible should you have to file a claim.
Otherwise, you may find yourself in a tough 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. One of the most common discounts offered by car insurance companies is bundled coverage combining insurance on two or more items together under one policy.
Often, this means bundling homeowners insurance with car insurance. Some companies also offer multi-policy discounts if you insure two or more vehicles—motorcycle, RV, boat, etc. Shop around to find the best rates and discounts to ensure you get the cheapest car insurance. In some instances, lowering your car insurance coverage or choosing only liability coverage can result in more affordable car insurance.
For example, if you have an older car with a depreciated value, carrying full coverage may not provide much benefit. However, keep in mind that if your car is leased or financed, the lender likely requires full coverage car insurance. Lecturer at James M. Hull College of Business at Augusta University. Austin State University. Assistant Professor, Ph. Professor of Marketing for the Austin E.
Patrick J. Floyd R. Robert F. All quotes were determined by selecting an average driver profile for insurance companies throughout the country in hundreds of cities and every state. All companies listed here are available in a minimum of 29 states unless otherwise noted. When MoneyGeek refers to a full coverage policy, it means a policy with:. Learn more about MoneyGeek's methodology. Car Insurance Guide for the Savvy Consumer.
Liability Car Insurance. By Karon Warren. Reviewed by Mark Fitzpatrick. Featured Experts Explore Expert Insight. Scroll for more. State Farm. Cheapest Car Insurance Companies by State. Excluding USAA, which is only 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 table below to explore the cheapest companies for a full coverage policy, excluding USAA, in your state.
New Hampshire. New Jersey. New Mexico. New York. North Carolina. North Dakota. Rhode Island. South Carolina. South Dakota. Washington D. West Virginia. American Family. Country Financial. Amica Mutual. State Farm State Farm offers affordable car insurance policies. Cheapest Car Insurance by Coverage Type. Cheapest Liability-Only Insurance. Cheapest Full Coverage Insurance. USAA is also an affordable option, but it is only available to military families.
Cheapest Car Insurance for Students. The best way to find which car insurance company will help you save is to get quotes from several different insurance companies and compare them.
To find the best one for you out of the quotes you've obtained, compare the coverage types, limits, and deductible, or the amount you'll pay out of pocket if you're involved in an accident. The policy with the lowest price for coverage, the most coverage types and limits, and the lowest deductible is the best one for you.
According to Insider's research, GEICO is offering the best cheap car insurance in , with Erie Insurance as a close second in places where it's available see above for details.
However, the car insurance company that's cheapest for one person may not be for another. Before deciding on insurance policies, you'll want to get four or five quotes from different insurance companies, just to make sure that you're getting the best price for you. According to J. This ranking was based on responses from about 11, auto insurance customers who settled a claim between early and mid It won out in several of the scenarios above.
While you're shopping, it might be worth getting quotes from both and seeing which one stands out. According to Insider's research, Erie Insurance generally looked to be the best insurance for young adults and new drivers in states where it's available. One of the best ways to save on car insurance for a teen or young adult driver is to join a family policy.
If joining a family plan is an option, it might be the best for a teen driver. Disclosure: This post may highlight financial products and services that can help you make smarter decisions with your money. We do not give investment advice or encourage you to adopt a certain investment strategy. What you decide to do with your money is up to you. If you take action based on one of our recommendations, we get a small share of the revenue from our commerce partners.
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