Cheapest Car Insurance Companies

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As credit card debt continues to climb and personal savings rates are at a historical low, money-conscious drivers wonder: Where can I find cheap car insurance?

The insurers with the lowest average costs among our Cheap Car Insurance Companies of 2023 rating offer affordable policies that may make sense for a wide range of motorists. On average, USAA, Geico, and State Farm offer the lowest annual rates, according to our analysis.

TAKE NOTE: Although our lists of cheap car insurance may help narrow your search, your own quotes won’t match these. This is because car insurance companies base rates on unique factors.

The cheapest car insurance company in every state

According to the information we collected from ten of the nation’s largest car insurance companies, the national average annual car insurance rate is $1,547. The average annual rates of seven of the insurers included in our analysis are below the U.S. average: USAA, Geico, State Farm, Travelers, American Family, Nationwide, and Progressive. There are only AAA, Farmers, and Allstate sample rates higher than the overall national average.

A comparison of car insurance rates across the country was conducted to find the cheapest car insurance companies in each state. Since the rates provided here are simple averages derived from representative driver profiles, your premium may be different. It is important to note that the data we provide may not include all the states where each company operates. The rates provided here are for comparison only.

Car insurance from USAA

The pros are:

  1. Our survey of the best car insurance companies rated them number one for customer service
  2. Provides coverage in all 50 states and Washington, D.C.

The cons are:

Military members, veterans, and their families are eligible for this coverage

The least expensive insurance in our study of cheap car insurance companies is offered by USAA, which sells car insurance policies only to U.S. military members, pre-commissioned officers, veterans, and their spouses and children. In addition to having the lowest annual rates on average, USAA also has the lowest rates for low- and high-mileage drivers and in most other categories included in our analysis of insurers.

Car insurance from Geico

The pros are:

  1. Our rated companies have some of the lowest average annual rates
  2. Surveyed policyholders gave high marks for customer service, claims handling, and loyalty

The cons are:

Drivers with a DUI have an above-average sample rate compared to other insurers in our rating

Aside from USAA, Geico offers the cheapest car insurance coverage for motorists with clean driving records, as well as for those seeking minimum coverage and driving more miles.

Car insurance from State Farm

The pros are:

  1. A high rating for customer service from policyholders
  2. In many categories, annual premiums are below average

The cons are:

  1. The average annual rate for drivers with poor credit is relatively high
  2. Even with an online quote, you must complete the policy purchase with a local agent

For senior drivers, female teenagers, and low-mileage drivers, State Farm offers the cheapest car insurance. On average, State Farm also offers the lowest rates for drivers with speeding violations, traffic accidents, and DUIs. State Farm also offers the best rates on full coverage for drivers with speeding violations, traffic accidents, and DUIs.

Rates are based on information filed by car insurers with state regulators, which is available to the public. Most of the largest national insurers are included in the analysis.

Auto-Owners offers the cheapest midsize car insurance

Unlike State Farm, Auto-Owners, and Erie, small insurers that offer coverage in multiple states, offer even cheaper car insurance rates than the big insurer.

Midsize insurers may offer cheaper auto insurance prices than larger companies, even though availability can be limited. Plus, according to J.D. Power auto insurance shopping studies, customers often report satisfaction with these insurers.

Company

Average annual rate Average monthly rate
Auto-Owners $337 $28
Erie $395 $33
The Hartford $631 $53
Auto Club of Southern California $634 $53
National General $693 $58

Because of their relatively low rates and availability in multiple states, we chose these companies. If you live in a smaller, lesser-known state, you may have more affordable auto insurance options. You can compare rates with smaller, lesser-known companies by working with an insurance broker or independent agent.

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