Auto Insurance Rebates: Which Companies Are Offering Refunds?

Auto insurance companies have been giving rebates to their customers in recent years, but it's unclear which companies are currently offering this benefit. However, I can tell you about some of the best auto insurance companies according to various sources.

According to NerdWallet, the best auto insurance companies of 2024 are:

1. Travelers

2. Geico

3. American Family

4. Auto-Owners

5. State Farm

6. USAA

U.S. News ranks the following as the best car insurance companies of 2024:

1. USAA

2. Auto-Owners

3. Nationwide

4. State Farm

5. Geico

MarketWatch's top-rated car insurance companies are:

1. Travelers

2. Progressive

3. Geico

4. USAA

5. Erie Insurance

6. Nationwide

7. State Farm

8. Liberty Mutual

9. Allstate

10. American Family

Discounts and add-ons

• Multi-policy discount: You can often get a discount if you bundle your auto insurance with another policy, such as homeowners or renters insurance.
• Defensive driving discount: Taking a defensive driving course can help you save on your auto insurance.
• Good student discount: If you're a student with good grades, you may be eligible for a discount.
• Safe driver discount: Insurance companies may offer a discount if you have a clean driving record and no accidents or violations.
• Anti-theft device discount: Installing an anti-theft device in your vehicle can help lower your insurance premium.
• Paperless discount: Some companies offer a discount if you opt for paperless billing and policy documents.
• Multi-vehicle discount: Insuring multiple vehicles with the same company can often result in a discount.
• Loyalty discount: Staying with the same insurance company for a number of years can sometimes lead to a loyalty discount.

In addition to discounts, insurance companies also offer a variety of add-ons or optional coverages that you can include in your policy. These add-ons provide extra protection and can give you peace of mind. Here are some common add-ons offered by insurance providers:

• Accident forgiveness: This add-on helps prevent your insurance rates from increasing after your first at-fault accident.
• Gap insurance: If your vehicle is totaled or stolen, gap insurance covers the difference between your insurance payout and the amount you still owe on your lease or loan.
• Rental car reimbursement: This add-on helps cover the cost of a rental car while your vehicle is being repaired after a covered claim.
• Roadside assistance: This add-on provides assistance if your vehicle breaks down or you need help with tasks like changing a flat tire or unlocking your car.
• Custom parts and equipment coverage: If you have custom parts or equipment in your vehicle, this add-on can help cover the cost of repairing or replacing them.
• Mechanical breakdown insurance: This add-on covers the cost of repairs for mechanical breakdowns, similar to an extended warranty.

When shopping for auto insurance, be sure to ask about the discounts and add-ons offered by each company. Comparing multiple quotes and reviewing the coverage options and discounts available can help you find the best policy for your needs at a price that fits your budget.

Customer satisfaction

According to J.D. Power's 2024 U.S. Auto Insurance Study, higher rates don't always result in lower customer satisfaction. The study found that when customers have a high level of trust in their insurer, customer satisfaction and brand advocacy increase, even with rate increases. However, only 49% of customers say they trust their auto insurer.

The study also found that the cheapest insurance companies tend to have the lowest customer satisfaction scores. National auto insurers like Farmers, Liberty Mutual, Allstate, Nationwide, and Progressive received the poorest customer satisfaction ratings.

So, which auto insurance companies provide the best customer satisfaction? Here are some of the top-rated companies:

• USAA: USAA is consistently ranked highly for customer satisfaction and is often the top-rated company in this category. However, it's important to note that USAA is only available to military members, veterans, and their families.
• Auto-Owners: Auto-Owners is another top-rated company for customer satisfaction, especially in the Mid-Atlantic and North Central regions. They offer a wide range of discounts and have high customer satisfaction scores from J.D. Power.
• Erie Insurance: Erie Insurance is known for its excellent customer service and has received high rankings from J.D. Power for customer satisfaction. They offer rare policy features as standard and have a Rate Lock feature that keeps your premiums from rising even if you file a claim.
• Amica Mutual: Amica Mutual consistently earns high satisfaction ratings and is known for its personalized service. They also pay dividends to eligible policyholders when the company does well. However, their rates tend to be higher than competitors.
• State Farm: State Farm is one of the largest insurance companies in the US and is highly rated for customer satisfaction. They offer a wide variety of discounts and have quick claims handling.
• The Hartford: The Hartford is highly rated for customer satisfaction, especially in the Northwest region and Florida. Their auto insurance policies are geared towards drivers over 50 and are only available to AARP members.
• Wawanesa: Wawanesa is highly rated for customer satisfaction in California, offering cheaper rates for good drivers. They've received the highest score in California in the J.D. Power Auto Insurance Study for three consecutive years.
• Farm Bureau: Farm Bureau Insurance, especially in Tennessee, is highly rated for customer satisfaction in the Southeast region. They offer a wide range of coverage options and have an "A" rating for financial strength.

Claims handling

USAA

USAA, catering exclusively to military personnel, veterans, and their families, excels in claims handling. Survey respondents expressed high satisfaction with the ease of filing claims, and the resolution process. USAA also offers competitive rates and military-specific perks, such as discounts for storing vehicles on base. It has earned accolades as the top-rated company in overall customer service and claims handling.

Auto-Owners

Auto-Owners Insurance, available in 26 states, secures the second spot in claims handling. Customers have provided positive feedback, with 61% expressing complete satisfaction with the ease of contacting customer service and the service received. The company also offers a wide range of discounts and has superior financial strength.

Nationwide

Nationwide, the third-ranked company in claims handling, has received positive feedback from its customers. 59% of respondents indicated they were completely satisfied with how their claims were resolved. Nationwide also offers various discounts, including SmartRide and SmartMiles programs.

State Farm

State Farm, the fourth-ranked company in claims handling, has received relatively positive feedback in this area. The company also offers several discounts, including the Drive Safe & Save program and the Steer Clear discount for young drivers. State Farm is known for its generous rental car and travel expense coverage.

American Family

American Family Insurance, available in 16 states, ranks fifth in claims handling. The company has received mixed reviews in this area, with some customers expressing satisfaction while others have noted higher-than-average rates in certain driver categories. American Family offers a range of discounts, including multi-vehicle, multi-policy, and good student discounts.

Erie

Erie Insurance, available in 12 states and Washington, D.C., ties for the ninth spot in claims handling. The company has received positive feedback, with 57% of respondents expressing complete satisfaction with customer service. Erie offers competitive rates, particularly for teen drivers, and provides several discounts, including safe driving and multi-policy discounts.

Affordability

Other affordable options include:

• Travelers, which has an average rate of $1,692 per year for full coverage.
• Auto-Owners, which has an average rate of $1,619 per year.
• Erie Insurance, which has an average rate of $1,532 per year.
• Progressive, which has an average rate of $1,848 per year.

When considering affordability, it's important to keep in mind that rates can vary depending on factors such as age, driving record, location, and vehicle type. Additionally, some companies may offer discounts or incentives that can lower the cost of insurance. It's always a good idea to shop around and compare quotes from multiple providers to find the most affordable option for your specific needs.

Customer feedback

Erie Insurance Group

Erie Insurance Group received positive feedback for its customer service and claims handling, with a score of 4 out of 5 in these areas. They also scored well for the clarity of their policies and the breadth of their coverage. However, they received a lower score of 3 out of 5 for premium pricing. Overall, they were ranked as the best car insurance company by some customers.

USAA

USAA is available only to military members, veterans, and their families and received positive feedback for its low-cost insurance and variety of coverage options. They offer discounts of up to 60% for storing your car while deployed and up to 15% for garaging your car on a base. USAA also received a high customer satisfaction rating and was praised for its military-specific perks. However, their eligibility requirements limit their accessibility.

Progressive Insurance Group

Progressive Insurance Group offers some of the cheapest rates for drivers with a DUI, but their rates for good drivers are only mediocre. They have a low level of complaints and offer accident forgiveness and a vanishing deductible. However, their mobile app has received poor user ratings, and they do not offer rideshare insurance.

GEICO (Berkshire Hathaway Insurance Group)

GEICO received positive feedback for its relatively cheap insurance rates, especially for drivers with poor credit. They also have a 5-star rating for their digital experience, including a user-friendly website and mobile app. However, they do not offer gap insurance or certain coverage features like new car replacement.

American Family Insurance Group

American Family Insurance Group offers a wide range of coverage, including rideshare and gap insurance, and receives fewer consumer complaints than expected for a company of its size. They have a long list of insurance discounts and encourage customer feedback through multiple support channels. However, they are not available in all states.

Farmers Insurance Group

Farmers Insurance Group has been around since 1928 but received a low score for overall customer satisfaction. They received low scores in coverage, help and advice, policy review, and service. Customers also reported higher-than-average base rates.

State Farm

State Farm is the largest personal auto insurance company in the country and ranked first among eight large insurers in J.D. Power's 2023 U.S. Insurance Shopping Study. They offer numerous discounts and extras, including travel expense coverage. However, they do not offer gap insurance.

Frequently asked questions