5 Cheapest Car Insurance Companies in the U.S. (2023)

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Cheapest Car Insurance Companies by Category

Cheapest Car Insurance Companies for Full Coverage

Geico: $162 per month

USAA: $168 per month

State Farm: $192 per month

Progressive: $200 per month

Nationwide: $210 per month

Learn more about the

Cheapest Car Insurance Companies After a Ticket

USAA: $58 per month

Geico: $72 per month

National General: $78 per month

Progressive: $83 per month

State Farm: $90 per month

Full coverage refers to a policy that goes beyond the minimum state requirements and includes both collision and comprehensive coverage. Because full coverage protects you in more situations, it costs more than the minimum required coverage.Learn more about the cheapest full coverage companies

After a speeding ticket, most drivers will see their insurance rates go up for 3-5 years. The extent to which premiums rise after a ticket can vary significantly by insurance company, however.

Cheapest Car Insurance Companies For Drivers with One At-Fault Accident

USAA: $76 per month

Geico: $79 per month

State Farm: $99 per month

Progressive: $105 per month

Nationwide: $107 per month

One at-fault accident will increase the average driver’s car insurance premium by around 50% for 3-5 years. The penalty is more severe with some insurance companies than others, though.

Learn about what an at-fault accident is and how to deal with one.

8 Tips for How to Get Cheap Car Insurance

1. Get a car that’s cheap to cover.

Certain car models cost more to insure than others. Cars that are safer and cost less, like minivans and SUVs, are

2. Be on your best behavior.

3. Take advantage of discounts.

You may be able to get

4. Build good credit.

Certain car models cost more to insure than others. Cars that are safer and cost less, like minivans and SUVs, are cheaper to insure than expensive, fast sports cars. Safe drivers with no history of accidents, tickets or arrests can look forward to cheaper rates than people who haven’t been as responsible. Convicted felons will also often have to pay more, even if their record isn’t related to driving.You may be able to get discounts if you are a veteran, get paperless statements, have a good driving record, bundle policies, are a student or have an anti-theft system, to name a few.

Your credit score will often factor into your auto insurance rates – people with no credit pay 67% more than people with excellent credit on average. Insurers know that financial responsibility often correlates with responsibility in other areas of life. People with poor credit are more likely to file an insurance claim. To boost your credit score, always pay you credit bills on time and try to use less than 30% of your available credit.

5. Look locally.

6. Choose a higher deductible.

An insurer may lower your monthly rates in return for a higher

7. Select less comprehensive coverage.

There are many types of car insurance. You will usually need

8. Consider pay-per-mile plans.

You don’t always have to pay a set amount per month. There are also plans based on how much you drive. If you have a car but rarely use it or only drive very locally, a

There are several big-name nationwide auto insurers with lots of satisfied customers, but you don’t necessarily have to get coverage from a company that takes clients from all across the country. Plenty of car insurance companies only cater to customers in certain regions or states. These local insurers may provide lower rates but are often overlooked. Make sure to include them in your comparison, at least.An insurer may lower your monthly rates in return for a higher deductible – the amount you personally have to pay when you make a claim. That can save you money if you never have an accident. This approach makes the most sense for people who are very infrequent drivers.There are many types of car insurance. You will usually need liability coverage , to pay for the other person’s damages if you’re at fault in an accident. But you may not need collision coverage (pays for your repairs) or comprehensive coverage (pays for non-accident-related damages). Both pay out based on your car’s current value. If your car is older and will cost more to fix than to buy a new vehicle, it may not be worth it.You don’t always have to pay a set amount per month. There are also plans based on how much you drive. If you have a car but rarely use it or only drive very locally, a pay-per-mile plan may be best for you. The insurance company will place a device in your car that tracks your mileage. It may also track things like your speed and braking, which could affect your rates positively if you’re a safe driver and negatively if not.

Methodology for Selecting the Cheapest Car Insurance Companies

WalletHub’s analysis of cheap car insurance companies is based on data from the state DMVs and Quadrant Information Services. Together with that data, WalletHub used the characteristics listed below to create a driver profile designed to identify the cheapest car insurance companies nationally. Given that prices and data availability vary widely across the country, WalletHub compared the cost of major car insurance companies by averaging each insurer’s premiums across the three largest states.

In the table below, you can see all of the profile characteristics that were used in WalletHub’s analysis.

Category
All Profile Characteristics
Good Driver Profile

Gender
Male, Female
Male

Age
16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 35, 45, 55, 65
45

Marital Status
Single, Married
Single

Teenage Driver Included on Policy
No, Yes
No

Driving Record
Clean, One Speeding Ticket, One At-Fault Accident, One DUI, Suspended License, Open Container, Red Light Infraction, Reckless Driving, One Not At-Fault Accident
Clean

Miles Driven Per Year
7,500 Miles, 15,000 Miles, 20,000 Miles
15,000 Miles

Coverage Level
Minimum, Standard, Full
Minimum

Discounts
None, Multi-Policy, Homeowner, Student
None

Credit Level
Poor, Good
Good

Filings
None, SR22, FR44
None

Car
Sedan, Minivan, SUV, Coupe, Truck
Sedan

Minimum Coverage: State minimum coverage requirements.
Standard Coverage: Coverage levels of 50k/100k/25k of liability coverage and 50k/100k/25k of uninsured motorist coverage.
Full Coverage: Coverage levels of 100k/300k/50k of liability coverage, 100k/300k/50k of uninsured motorist coverage, and collision and comprehensive coverage with a $500 deductible.
Sedan: 2018 Toyota Camry.
Minivan: 2018 Dodge Grand Caravan.
SUV: 2018 Toyota RAV4.
Coupe: 2018 Ford Mustang.
Truck: 2018 Ford F-150.

Where driver profiles are not specified, WalletHub used the good driver profile, using the above variables. Quote information is from Quadrant Information Services and is representative only. Individual rates will be different.

Video: Cheapest Car Insurance Companies

Below are additional details regarding the terminology and specific characteristics of the variables in the above table:Where driver profiles are not specified, WalletHub used the good driver profile, using the above variables. Quote information is from Quadrant Information Services and is representative only. Individual rates will be different.