The cheapest type of car insurance is State Minimum Liability Coverage. Finding affordable car insurance doesn't mean you have to stick with the big insurance companies. Central Insurance, MMG and Secura, the smallest insurers offering coverage in several states, have even cheaper car insurance rates than Geico. For the sake of comparison, we found the cheapest car insurance company on average in each state and in Washington, D.C.
We found that Geico has the lowest average rate for drivers with an at-fault accident. American Family is the cheapest, on average, for drivers with DUI. If you're looking for affordable car insurance from a large company, Geico might be a good place to start. According to our analysis, the company has the lowest average rates for good drivers with bad credit.
Of the largest insurance companies in the country, Geico has the cheapest car insurance rates, on average. However, rates vary greatly from person to person based on factors such as gender, the car you are driving, and your location. To find the cheapest price, compare the car insurance rates of at least three insurers once a year. MoneyGeek found that GEICO, Nationwide, and State Farm are among the cheapest companies in liability-only insurance, but it's recommended that you compare options in your state for a more accurate cost estimate.
If you are an active member or former military member, USAA is usually the cheapest insurance company on average. It is more affordable than GEICO for both minimum state and major liability. These rates are based on a 40-year-old driver with a clean driving record and the analysis in this section is limited to companies offering car insurance in 30 states or more. Rates will vary based on the person's age, driving history, gender, and type of insured car.
If you want a deeper look at how costs change based on these factors, MoneyGeek has an auto insurance cost calculator that allows you to get estimates from the cheapest carriers for several different levels of coverage. Drivers can get even cheaper rates with GEICO by taking advantage of package, multi-car, anti-theft, and passive restrictions discounts. Current or former federal employees are also eligible for additional savings. Nationwide offers almost all of the common discounts offered by other insurers.
Make sure all discounts apply when comparing quotes. The United Services Automobile Association (USAA) offers insurance nationwide and tends to be the most affordable option for active military personnel, veterans and their families. Considering its strong reputation in both auto and home insurance, USAA is a good option for those looking to purchase homeowners insurance as well, allowing them to take advantage of its package discount. If you're looking for cheap liability insurance near you, you should look at the cheapest insurers in your state rather than nationwide.
While GEICO is the cheapest insurer in 26 states, MoneyGeek found that 14 different insurers are the cheapest insurer in a given state, including State Farm (seven states) and Erie (four states). This analysis excludes USAA due to its eligibility requirements. But if you're part of a military family, you should get a quote, as it's ranked as the cheapest company in exclusive liability insurance in 38 states. Safe drivers with a clean driving record will usually be able to get the most affordable liability insurance.
Receiving a fine or having an accident will generally increase the cost of car liability insurance. MoneyGeek found that GEICO generally offers the cheapest sole liability insurance to those who have a violation in their history. If you have a penalty on your record, GEICO is the cheapest and most widely available insurance company on average for drivers with a penalty on their record for both minimum state liability and increased liability. Getting a speeding ticket can add hundreds of dollars a year to your insurance costs.
USAA is the most affordable overall, but most drivers won't be eligible for a policy. MetLife is at the bottom with the highest average annual premiums. If you have a speeding ticket on your record, you can still find affordable rates with GEICO, one of the largest insurers in the country. If you're looking to lower your rates even further, GEICO offers a discount for those who complete a defensive driving course.
State Farm and Nationwide are similarly affordable for drivers with an accident, while USAA remains the cheapest for those who are eligible. Even after an accident, you'll find a variety of coverage options and packages with GEICO. GEICO also offers accident forgiveness, a feature that means your rates won't go up after your next at-fault accident. This can be earned through years of safe driving or can be purchased.
MoneyGeek analysis found that drivers can save up to 47% on their insurance policies by buying car insurance online and getting multiple quotes. Auto liability insurance is more than 40% cheaper than full coverage insurance, but there are risks associated with getting the lowest amount of coverage. Low liability insurance limits won't cover it for claims that exceed hundreds of thousands of dollars. And your own vehicle won't be covered at all.
Knowing the limits and risks of liability insurance can help you make an informed decision when selecting car insurance coverage. Often, the best way to find the cheapest liability insurance is to research options in your state. GEICO is the cheapest in most states, but MoneyGeek found that 14 different insurers could be the cheapest in any state. Whenever your circumstances change, it's a good idea to look around you when buying auto insurance policies.
We've researched dozens of the best car insurance providers to find companies that offer reliable and affordable car insurance. Even if you moved to a more expensive area to get car insurance, looking for a place can help you get cheaper coverage. We recommend comparing car insurance quotes from providers to find the most affordable coverage for your situation. MoneyGeek analyzed quotes in both age groups to find the cheapest car insurance companies for young and old.
Geico and Amica offer the cheapest average rates for drivers with low credit ratings, while USAA and Erie offer the lowest average rates for drivers with good credit. The following providers stand out from the competition as the best providers of cheap car insurance, not only because of the discounts they offer, but also because of their customer service and strong reputation in the industry. In addition, if your vehicle has safety features, such as automatic braking or anti-theft technology, you may qualify for a car insurance discount. The cheapest auto insurance policy is the minimum coverage required in your state, generally known as state minimum liability coverage.
The absolutely cheapest policy you can buy is one that only meets the minimum car insurance coverage required by your state. Some companies also offer multi-policy discounts if you insure two or more vehicles: motorcycle, RV, boat, etc. These rates were publicly obtained from the insurer's statements and should be used for comparison purposes, only your own quotes may differ. Drivers in all 50 states can get cheap car insurance from Geico, though drivers with accidents on their records may find better prices from other companies.
It's important to note that car insurance rates are highly personalized, as insurance companies consider numerous factors when determining what you should pay for a policy. California, Hawaii, Massachusetts and Michigan do not allow insurers to use credit to determine car insurance rates. . .