5 Cheapest Car Insurance Companies (February 2023)

How much you pay for car insurance will depend on a number of factors, including your age and driving history. Here’s a look at the cheapest car insurance for certain types of drivers.

The Cheapest Car Insurance For Good Drivers

These rates are based on good drivers with a clean driving record, meaning no at-fault accidents or traffic violations. USAA offers the lowest average rates for good drivers, but it is open to only military members, veterans and their families.

The Cheapest Car Insurance After A Speeding Ticket

A speeding ticket will mean an insurance increase of about 21%, based on nationwide averages. Our analysis found the cheapest car insurance from Westfield, Geico and Auto-Owners, with USAA a top choice for people who qualify for USAA auto insurance.

The Cheapest Car Insurance After An Accident

Expect your car insurance rates to go up at renewal time if you have caused an accident, especially one that injured someone else. Nationally, the average rate goes up 40%, which translates to paying about $830 more per year compared to a driver with a clean record.

USAA offers good rates to military members and veterans. For other drivers, Auto-Owners and Westfield had the cheapest car insurance in our analysis. Westfield is a regional insurer that serves 10 states in the Midwest.

The Cheapest Car Insurance After A DUI

Among the likely consequences after a DUI conviction is a higher auto insurance bill. Car insurance companies usually pull motor vehicle records before your policy renewal time to check for tickets and convictions, and then apply increases based on your record.

A DUI conviction leads to an average increase of 72% that translates into nearly $1,400 a year. Progressive and American Family had the cheapest rates in our analysis, with USAA a possible good option for military members and veterans who qualify.

The Cheapest Car Insurance For People With Bad Credit

Having poor credit can be one of the biggest hurdles to getting cheap car insurance quotes—even if you have an excellent driving record. Poor credit can cause higher auto insurance rates than having a DUI or at-fault accident on your record.

Average auto insurance costs go up 79% for drivers with poor credit compared to those with good credit. That comes out to over $1,500 more per year, on average.

With potentially exorbitant rates, it’s vital to shop around. Geico and Nationwide had relatively cheap car insurance for drivers with poor credit among the companies we analyzed. USAA is a good bet for military members and veterans.

The Cheapest Car Insurance For Seniors

USAA has the cheapest car insurance for senior drivers ages 70 and 80, according to our analysis. Auto-Owners is the cheapest for senior drivers without a military affiliation, which USAA requires. However, the best car insurance for seniors will vary based on where you live and your personal details, such as your driving record.

Our analysis found that senior drivers experience, on average, a 10% increase in their car insurance costs from age 60 to 70. By age 80, your rates may have increased 23% above the rate you were paying at age 70 and 34% more than your car insurance cost at age 60.

The Cheapest Car Insurance For Teens & Young Drivers

It’s not cheap to buy car insurance for a teen because young new drivers pose a large risk to insurers. We found that adding a teenage driver to a parent’s policy will result in an average increase of $1,951 a year.

This amount typically doubles the parent’s auto insurance bill. But it is still usually less expensive to add a young driver to a parent policy rather than for the teen driver to get their own.