When it comes to finding the most affordable car insurance, state minimum liability coverage is usually the way to go. But that doesn't mean you have to settle for the big insurance companies. Central Insurance, MMG and Secura, some of the smallest insurers offering coverage in several states, have even cheaper car insurance rates than Geico. Our research 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 a large company with affordable car insurance, Geico may be a good place to start. According to our analysis of large insurers, 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 can vary greatly from person to person based on factors such as gender, the car you're driving, and your location. To get the best price, compare the car insurance rates of at least three insurers once a year. No state requires you to have collision insurance or comprehensive insurance, so you'll have to decide if you want the additional protection offered by these options. The cheapest liability insurance is offered by companies that have competitive rates across the board, as well as a variety of discounts to help keep premiums low.
The risk of buying cheap liability insurance is that you could be involved in an accident where the damages or medical bills exceed your coverage amount, leaving you liable for the difference. Car insurance rates can vary dramatically because each company has its own way of weighing factors that affect car insurance rates, such as your driving history, claim history, and credit score. To get the cheapest car insurance possible, you'll want to compare and compare the policies of a variety of companies each year. MoneyGeek analysis found that drivers can save up to 47% on their insurance policies by buying car insurance online and getting multiple quotes. If you're a member of the military, veteran, or member of a military family, USAA offers some of the cheapest car insurance available.
Director of Risk Management and Insurance and Assistant Professor of Practice at the University of Texas at Dallas also recommends Progressive for motorists without much experience or those with DWI or DUI on their records. In general, if you have a newer, more valuable vehicle, you should consider purchasing comprehensive and collision insurance in addition to liability insurance. It's important to note that car insurance rates are highly personalized, as insurers consider numerous factors when determining what you should pay for a policy. Insurance companies use credit-based insurance scores (where permitted by state law) as studies have shown that these scores effectively indicate the likelihood of a driver filing a claim. The final result was an overall rating for each provider; insurers that scored the most points topped the list.
To better understand how car insurance works and what types of coverage you can buy, see Bankrate's car insurance guide. Insurers always charge drivers more for coverage after a DUI conviction due to what this violation indicates about their risk profile.
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