Auto Insurance: Cheaper Alternatives To Geico Revealed

When it comes to auto insurance, GEICO and Progressive are two of the most well-known companies in the industry. Both offer a range of coverage options and have been in business for several decades. GEICO has been around since 1936 and initially sold policies only to federal government employees and military personnel. Today, GEICO is available to the general public and offers car, home, renters, and small business insurance. Progressive, on the other hand, was founded in 1937 and offers a wider range of insurance products, including coverage for various types of vehicles, homeowners, renters, business, pet, and even dental insurance.

In terms of pricing, GEICO tends to offer lower rates than Progressive. GEICO's average annual rate is $1,250, making it the second-cheapest car insurer in recent rankings. Progressive, on the other hand, has an average annual rate of $1,540, which is higher than the national average. GEICO's rates are particularly competitive for teen drivers, young adults, adults, seniors, and drivers with poor credit histories. Progressive, however, may be a better option for drivers with a DUI on their record, as their rates for this category are lower than both GEICO and the national average.

Cheapest car insurance for teens

The cost of car insurance for teens varies depending on factors such as age, gender, location, and driving history. Here are some tips to get the cheapest car insurance for teens:

Shop Around

It is important to compare quotes from multiple insurance companies as rates can vary significantly. Some of the cheapest car insurance companies for teens include USAA, Erie, Geico, State Farm, and Nationwide.

Seek Out Discounts

Many insurance companies offer discounts for teens such as good student discounts, safe driving discounts, and driver training discounts. Be sure to ask about these when getting quotes.

Add Teens to Parents' Policy

Adding a teen to their parents' policy is usually much cheaper than getting a separate policy. This can result in savings of over $1,000 per year.

Choose a Safe and Affordable Car

The type of car can also impact insurance rates. Opting for a used car or a car with high safety ratings can help lower insurance costs.

Maintain a Clean Driving Record

Keeping a clean driving record is crucial for teens as any citations or accidents can significantly increase insurance rates.

Cheapest car insurance for seniors

Car insurance rates for seniors vary depending on age, gender, location, driving history, and other factors. Here is a guide to help seniors find the cheapest car insurance options available to them:

Average Cost of Car Insurance for Seniors

Seniors pay an average of $2,606 per year or $217 per month for full-coverage car insurance. The cost of car insurance tends to increase after retirement age, with rates typically going up as drivers reach 70 years of age.

Cheapest Car Insurance Companies for Seniors

According to various sources, the cheapest car insurance companies for seniors include:

• Travelers
• USAA
• Nationwide
• GEICO
• Progressive
• State Farm
• Erie
• Auto-Owners

Factors Affecting Senior Car Insurance Rates

Several factors besides age influence the cost of car insurance for seniors:

• Driving history: At-fault accidents, speeding tickets, and DUIs result in higher premiums.
• Credit score: In most states, insurance companies consider credit history in rate calculations.
• Location: Insurance rates vary by state and within states based on factors like population and climate.
• Gender: In most states, insurers can adjust rates based on gender.
• Deductible: Choosing a higher deductible usually leads to a lower premium.
• Vehicle: The make, model, mileage, and value of the vehicle impact insurance rates.
• Coverage options: Increasing coverage leads to higher premiums.

Tips for Finding Cheap Car Insurance for Seniors

To find cheap car insurance, seniors can:

• Take a defensive driving course: Many companies offer discounts for safe driving.
• Change driver status: If retired, switching from commuter to pleasure driving can save money.
• Consider usage-based insurance: Paying by the mile can be cheaper for low-mileage drivers.
• Bundle policies: Combining home, renters, life, or umbrella insurance with car insurance can result in discounts.
• Shop around: Comparing quotes from multiple companies helps find the best rates.
• Review coverage: Dropping full coverage on older vehicles or adjusting mileage and policy information can lower rates.
• Look for discounts: Ask about discounts for safe driving, bundling, accident-free records, and more.

While car insurance rates generally increase for seniors, there are ways to mitigate these costs. Shopping around, comparing quotes, and taking advantage of discounts can help seniors find the cheapest car insurance options available to them.

Cheapest car insurance for high-risk drivers

High-risk drivers are often charged higher insurance rates and have fewer companies to choose from. Factors that can lead to a driver being considered high-risk include:

• A history of at-fault accidents, speeding tickets or other driving infractions
• Poor credit history
• Driving a sports car
• Being a young or first-time driver
• A lapse in insurance coverage

However, there are still plenty of reputable companies that will insure people with a bad driving record. Here are some of the cheapest companies for high-risk auto insurance:

• Geico
• State Farm
• American Family Insurance
• Progressive
• Nationwide

If you are unable to find coverage from a standard carrier, you may need to look for a non-standard carrier that specialises in insuring high-risk drivers. Some non-standard insurance companies include:

• The General
• Safe Auto
• National General

Cheapest car insurance for drivers with bad credit

The cost of car insurance is rising, and drivers with bad credit may find it challenging to find an affordable policy. In most states, insurance companies are allowed to use credit scores to determine insurance rates, and drivers with poor credit are considered high-risk, resulting in higher insurance costs. However, each insurer has its own underwriting process, and the impact of a poor credit score on insurance premiums can vary.

Nationwide and GEICO are the cheapest insurers, on average, for drivers with bad credit. Nationwide offers an annual average of $1,374 for full coverage, while GEICO's rates are around $1,775 annually. Regional insurers, such as Concord Group and American Family, may also offer competitive rates in certain states.

To find the best deal, it is advisable to compare quotes from different insurance companies. Additionally, there are ways to save on car insurance, such as taking advantage of discounts, raising your deductible, and reducing your coverage if you have a low-value car. Improving your credit score over time can also help lower insurance costs.

Cheapest car insurance for military members

If you're a veteran or active member of the military, you and your family may be eligible for some of the best car insurance rates. Here are some of the cheapest car insurance options for military members:

USAA

USAA offers insurance exclusively to veterans, active-duty military and their families. It has the cheapest rates on average among military car insurers and is available in all 50 states and Washington, D.C. USAA offers a 15% discount if you live on a military base and up to a 60% discount if you're deployed or storing your car. It also has high customer satisfaction ratings and is a one-stop shop for insurance, banking, and investing products.

Geico

Geico offers a dedicated military support team and a military discount of up to 15% for current and former military and National Guard members. They also offer a 25% emergency deployment discount for military members deployed to \"imminent danger pay areas". Geico is available in all 50 states and the District of Columbia.

Farmers Insurance

Farmers Insurance offers car insurance in 41 states and provides a military discount, as well as 22 other types of discounts. They also offer the option to bundle coverage with other products.

State Farm

State Farm offers discounts for safe driving records and online driving courses, and has low rates in some states. While they don't have a nationwide discount for military members, their rates make them the cheapest option in certain areas.

Arbella

Arbella offers a 10% discount for Massachusetts customers deployed on active duty at least 100 miles from their car.

Armed Forces Insurance

Armed Forces Insurance provides auto insurance for veterans, active-duty personnel, and their families, as well as active or retired Department of Defense employees.

Liberty Mutual

Liberty Mutual offers up to a 12% discount for members of the Military Benefit Association.

Frequently asked questions