Best Auto Insurance: Fair And Affordable

Finding the fairest and least expensive auto insurance company can be challenging, as costs vary depending on factors such as age, driving history, location, and coverage needs. However, some companies consistently offer competitive rates and are worth considering when looking for affordable and fair auto insurance.

USAA, for example, is known for having low premiums, but their policies are only available to current and former military members and their families. Erie Insurance is another affordable option, especially for teen drivers, and is available in 12 states and Washington, D.C. Nationwide and Geico are also worth mentioning, as they have competitive rates across multiple driver categories.

When searching for the fairest and least expensive auto insurance, it is essential to shop around and compare quotes, and consider factors beyond just the price. It is crucial to ensure that the company has a good reputation for customer service and claims handling and that the coverage offered meets your specific needs. Additionally, look for companies that offer discounts that can further reduce your premium, such as good driver discounts, bundling discounts, or loyalty discounts.

Cheapest car insurance companies overall

The cost of car insurance is rising, making it challenging to find an affordable policy that meets your coverage needs. The cheapest car insurance companies overall will depend on your driver profile, location, and vehicle, so it's a good idea to compare quotes from multiple companies. Here are some of the cheapest car insurance companies in the US:

• USAA: USAA offers the lowest sample premiums in some studies, but its policies are only available to current and former members of the military and their families.
• Erie: Erie has the lowest rates for teen drivers and is available in 12 states and Washington, D.C.
• Auto-Owners: Auto-Owners is one of the cheapest options and offers a wide range of coverage options.
• Nationwide: Nationwide has some of the lowest rates for drivers with poor credit and is available nationwide.
• Geico: Geico is the cheapest large auto insurance company in the nation for good drivers, with an average annual rate of $353 or about $29 per month.
• Travelers: Travelers offers competitive rates for many types of drivers and is consistently one of the top cheapest companies.
• Progressive: Progressive offers the cheapest rates for drivers with a DUI and has a low level of complaints.
• Central Insurance: Central Insurance is one of the cheapest options for minimum coverage.
• Country Financial: Country Financial offers affordable rates and is available in 19 states.

Cheapest car insurance companies by state

The cheapest car insurance company for you will depend on a variety of factors, including your age, driving history, location, and coverage needs. Here is a breakdown of some of the cheapest car insurance companies by state in the US:

• USAA: USAA offers the lowest rates in most states and is available in all 50 states and Washington, D.C. However, its policies are only available to current and former military members and their families.
• Erie: Erie is the cheapest option in several states, including Nebraska, Tennessee, and Virginia. It is available in 12 states and Washington, D.C.
• State Farm: State Farm is the cheapest major insurance provider in 24 states for full coverage. It offers competitive rates for drivers with clean records, as well as those with speeding tickets or accidents.
• Farm Bureau: Farm Bureau provides the cheapest liability-only coverage in multiple states. It also offers affordable insurance for teens.
• American Family: American Family has some of the cheapest rates in the country and offers various discounts to lower costs further.
• Progressive: Progressive is a good option for drivers with a DUI on their record, offering rates significantly below the national average.
• Geico: Geico is a good choice for drivers with poor credit, offering full coverage at a lower cost than the national average.
• Auto-Owners: Auto-Owners is the cheapest option in six states for minimum coverage and has competitive rates overall.
• Nationwide: Nationwide has affordable rates, especially for drivers with poor credit. It also offers usage-based insurance plans for low-mileage drivers.

It's important to note that insurance rates can vary significantly based on individual factors, and it's always a good idea to shop around and compare quotes from multiple companies to find the best deal. Additionally, smaller, local insurance providers may offer more competitive rates in certain states, so it's worth exploring all your options.

Cheapest car insurance companies for different driver profiles

The cost of car insurance is influenced by a variety of factors, including age, driving history, location, and more. As such, the cheapest car insurance company for one driver may not be the cheapest for another. Here is a breakdown of some of the cheapest car insurance companies for different driver profiles:

Good Drivers

Erie Insurance is the cheapest option for good drivers, with an average annual rate of $1,532. USAA is another affordable option, but its policies are only available to current and former military members and their families.

Female Teen Drivers

Erie Insurance is the cheapest option for female teen drivers, with an average annual rate of $3,478.

Male Teen Drivers

Erie Insurance is also the cheapest option for male teen drivers, with an average annual rate of $4,351.

Military Community

USAA offers exclusive and affordable policies for current and former military members and their families, with an average annual rate of $1,335.

Female Senior Drivers

Erie Insurance is the cheapest option for female senior drivers, with an average annual rate of $1,277.

Male Senior Drivers

Erie Insurance is once again the cheapest option, with an average annual rate of $1,224 for male senior drivers.

After a DUI

Progressive is the cheapest option for drivers with a DUI on their record, with an average annual rate of $2,296.

After a Speeding Ticket

Erie Insurance is the cheapest option for drivers with a speeding ticket, with an average annual rate of $1,765.

After an Accident

Erie Insurance offers the lowest rates for drivers with an accident on their record, with an average annual rate of $1,964.

Poor Credit

Nationwide is the cheapest option for drivers with poor credit, with an average annual rate of $2,268.

Minimum Coverage

Erie Insurance offers the lowest rates for minimum coverage, with an average annual rate of $1,483.

High Coverage

Erie Insurance also offers the lowest rates for high coverage, with an average annual rate of $1,574.

Cheapest car insurance companies for different credit scores

The cost of car insurance is influenced by a variety of factors, including age, driving history, location, and credit score. While it is challenging to identify the single fairest and least expensive auto insurance company, several providers are known for offering competitive rates to different categories of drivers. Here is a breakdown of some of the cheapest car insurance companies for drivers with varying credit scores:

Poor Credit Score

Nationwide is consistently mentioned as the cheapest option for drivers with poor credit. Their rates are significantly lower than the national average, and they also offer various discounts to help reduce premiums further. Geico is another affordable choice for drivers with poor credit, with rates that are 55% cheaper than the national average. USAA, available only to military personnel, veterans, and their families, also offers competitive rates for those with poor credit.

Average Credit Score

For drivers with average credit, USAA and Geico are excellent options. USAA provides exclusive benefits and discounts for military members and their families, while Geico has a wide range of discounts and is available nationwide.

Good Credit Score

For individuals with good credit, USAA, Nationwide, and State Farm are among the most affordable options. USAA, again, caters specifically to military members and their families, while Nationwide and State Farm offer competitive rates and various discounts to help reduce premiums.

It is worth noting that insurance rates are highly individualized, and it is always recommended to shop around and compare quotes from multiple providers to find the best rates and coverage options for your specific circumstances.

Cheapest car insurance companies for new drivers

For new drivers, car insurance can be very expensive. This is because insurance companies consider new drivers to be riskier to insure due to their lack of experience on the road. However, there are a few insurance companies that offer cheaper rates for new drivers. Here are some of the cheapest car insurance companies for new drivers:

USAA

USAA is one of the cheapest major insurance companies for new drivers, especially those who are military service members, veterans, or relatives of members. USAA offers a good-student discount for students who can maintain at least a B average. They also offer cheaper rates due to their stringent eligibility guidelines. For a male 16-year-old driver, USAA premiums average $1,105 for a six-month policy, while those for a driver with no previous insurance history come in at an average of $664.

GEICO

GEICO has long been one of the more affordable major car insurance companies, and that holds true for new drivers as well. A policy costs $257 per month for a 16-year-old male, which is much cheaper than most competitors' rates. GEICO also provides discounts for good grades or membership in certain student organizations, as well as for drivers who complete driver training programs.

Nationwide

Nationwide provides the cheapest rates on average for new drivers. For a 16-year-old male, a policy costs around $1,142 for six months, which is still among the cheapest available. They also offer a good student discount, accident forgiveness, and roadside assistance. Their SmartRide usage-based insurance program measures a driver's safety habits to provide a more accurate (and cheaper) rate.

State Farm

State Farm is the largest auto insurance company in the United States and is a widely available option for first-time drivers. They offer numerous money-saving options, such as their Steer Clear program for new drivers under 25 years old.

Travelers

According to WalletHub's analysis, Travelers has the cheapest rates for first-time drivers, with a minimum coverage policy costing $1,372 per year on average. Travelers also offer 14 total discounts, many of which first-time drivers may be able to qualify for.

Mercury

Mercury is a great choice for first-time drivers looking for affordable coverage in the 11 states where it operates. While Mercury does not offer as many discounts as other companies, its rates are already competitive, and they have a straightforward claims process.

In addition to choosing one of these cheaper insurance companies, there are other ways that new drivers can save on car insurance. One way is to stay on their parents' auto insurance policy, as this can result in much lower rates. New drivers can also save by choosing a moderately priced vehicle, increasing their deductible, and looking for discounts such as good student discounts or defensive driving discounts.

Frequently asked questions