Of the nine major auto insurance providers in our annual study, USAA, Geico, and State Farm consistently have the lowest annual rates for the driver groups we examined. This includes premiums for good drivers as well as for those who may have had a speeding ticket. These insurers also may be money-savers for teenage and senior drivers.
Keep in mind that shopping around and comparing quotes from different insurance companies is the best way to find the cheapest car insurance for you.
What Is the Cheapest Car Insurance Company for You?
The company with the cheapest car insurance premiums in our rating is USAA. In addition to having the overall lowest premiums, it also has the lowest premiums for motorists who have a speeding ticket or have been in an accident. USAA offers its car insurance policies to drivers with a connection to the U.S. military, including active service members, veterans, pre-commissioned officers, and spouses and children.
For those drivers without a connection to the military, the next cheapest car insurance company in our rating is Geico. It also has the least expensive premiums, aside from USAA, for both teen and senior drivers, motorists with a clean driving record, and those with poor credit scores.
If you’ve had a speeding ticket or been in an accident, State Farm has the lowest premiums, aside from USAA. And if you have a DUI, State Farm offers, on average, the lowest cost car insurance policies of any company in our rating.
The rates in our study are based on new customers shopping for insurance and can help you get an idea of how much you may pay for auto insurance with a new insurer. Keep in mind that car insurance rates are highly individualized. Your actual rate will depend on several factors, including where you live, the car you drive, and your credit scores. Insurers also rely on your driving record. Some infractions, like a speeding ticket, a DUI, or an at-fault accident, may increase your rates or make it harder to purchase a policy.
Cheap Car Insurance for Good Drivers: Geico
Good drivers who aren’t eligible for a USAA policy are likely to find the cheapest car insurance rates with Geico.
Cheapest for Good Drivers
Geico’s annual rate of $1,148 is $295 less than the national average, a savings of more than 20%. Our latest customer survey data also indicates that most Geico policyholders are satisfied with their customer service experience and are likely to recommend the insurer to other people shopping for car insurance.
Accidents, speeding tickets, and other traffic violations can lead to higher rates, regardless of which insurer you choose. Keeping your driving record clean can help you secure the lowest rates and good-driver discounts.
Annual Rates for Good Drivers
Cheap Car Insurance for Teen Drivers: Geico
Our data indicates that Geico has the cheapest car insurance rates for most teen drivers, regardless of gender. Members of the military community may want to consider USAA instead, as it is slightly less expensive.
The average national rates for teen drivers range from $4,860 to $5,503, but Geico policyholders may be able to save up to 35%. Geico’s average rate for 17-year-old female drivers is $3,166 a year, or $1,694 less than the national average. Its average rate for male drivers in that same age bracket is $3,555, which beats the national average by $1,948.
Cheap Car Insurance for Senior Drivers: Geico
Male and female 60-year-olds have the lowest rates of all age groups in our study, and their annual premiums are typically lower than the national average. Seniors looking for the cheapest insurance should consider Geico, which has the overall lowest rates in our study.
On average, drivers in this group pay between $1,245 and $1,282 a year for auto insurance, depending on their gender. Geico’s rates are around 18% lower, ranging from $1,049 to $1,085 a year. It’s worth noting that USAA’s rates for 60-year-old drivers are significantly lower than both the national average and Geico’s rates. As such, individuals who are eligible may want to consider USAA car insurance first..
Cheap Car Insurance for Military Community: USAA
Several auto insurers offer discounts for military members and their families, but if you are a member of the military community, consider USAA.
USAA consistently offers some of the lowest rates in our study. With USAA, a good driver can expect rates that are 31% lower than the national average. USAA also has the lowest rates for several subcategories we reviewed, including teen drivers, senior drivers, drivers with a speeding ticket or accident on their record, and drivers seeking minimum coverage.
If you’re considering USAA, keep in mind that its insurance products are limited to active and veteran military members and their families.
Cheap Car Insurance After a Speeding Ticket: State Farm
Avoiding speed violations is the best way to get cheap car insurance rates, but if it’s too late for that, try State Farm.
After a speeding ticket, drivers may see higher premiums. Our data indicates that insurers increase rates by an average of 23% for drivers with a single speeding ticket. State Farm only increased their rates by an average of 11%, the smallest increase among providers in our study. Drivers with a speeding ticket can expect an average State Farm rate of $1,409. That’s a $358 savings when compared to the national average of $1,767.
A single speeding ticket doesn’t mean you’ll pay higher rates for the rest of your life, but most insurers will increase your premium for at least three years, if not more. Shopping around and comparing auto insurance rates after a speeding ticket can help you find the cheapest premiums.
Cheap Car Insurance After an Accident: State Farm
The national average rate for drivers with an accident on their record is $2,041. That’s 29% higher than the average rate for drivers with a clean record. Next to USAA, State Farm‘s rate is the lowest in our study, and overall places No. 2 after USAA in our Best Car Insurance of 2022. At $1,516 a year, it beats the national rate by 26%, yielding a savings of $525 annually.
Cheap Car Insurance After a DUI: State Farm
For most drivers, a DUI will lead to a significant rate increase. A policy with State Farm may make paying for auto insurance more manageable.
Our analysis found that the average annual rate of $2,320 represents a typical increase of about 61% when compared to rates for drivers with a clean record. State Farm does increase rates after a DUI, but only by 35%. On average, drivers who choose State Farm pay $1,711 for car insurance, a savings of nearly $610 a year.
This is one category in which USAA didn’t come out on top. Its rates are higher than those offered by State Farm and American Family Insurance.
Cheap Car Insurance With Poor Credit: Geico
Poor credit can increase rates nearly as much as (and sometimes more than) a DUI. Every insurer in our study increases premiums for poor credit, but drivers still may be able to save with Geico. Its rates for drivers with poor credit are 28% lower than the national average and the cheapest in our study.
The average rate for drivers with a poor credit score is $2,524 per year, but Geico’s average rate is only $1,810 per year. That’s an annual savings of $714. It’s also worth noting Nationwide’s rates are $1,837, only 1% higher than Geico’s, making it another competitively priced option for drivers with bad credit.
Note that insurers do not consider credit score when factoring rates in California, Hawaii, and Massachusetts. As a result, data from those states was omitted from this part of our analysis.
The Cheapest Auto Insurance in Your State
According to our study, the national average representative car insurance rate is $1,442 per year. That amount is based on data from nine of the largest car insurance companies in the country. That being said, several factors determine a driver’s auto insurance premium, so the data in our study may not be indicative of the rate you pay.
We did a thorough analysis of car insurance rates for drivers across the country to find the cheapest insurers in each state. The rates shown here are a simple average taken from representative driver profiles, so your rates will differ. It’s important to note that our data may not include all of the states that each company operates in, and that your insurance premiums can vary by state. Even within the same state, you might find that rates change in different ZIP codes.
Cheap Car Insurance for Minimum Coverage: Geico
If you’re looking for cheap auto insurance that meets state minimum guidelines, Geico is the least expensive choice.
Our study shows most consumers will save money with Geico. On average, a low-coverage policy with Geico costs $1,064 a year, $308 less than the national average of $1,372. Geico also fares well in our Best Car Insurance Company ranking and subrankings.
Despite Geico’s low rates, drivers who are eligible for USAA membership may want to consider its minimum coverage auto insurance. USAA is the only insurer in our study that offers minimum coverage for less than $1,000 a year.
Cheap Car Insurance for Full Coverage: Geico
Geico’s average rate for high coverage is $1,238 a year. That’s $280 less per year than the national average, a total annual savings of nearly 18%. As is the case in many other subcategories we reviewed, USAA’s rates are still the cheapest overall, and drivers in the military community should consider USAA if they’re eligible for membership.
Cheap Car Insurance for Low-Mileage Drivers: Geico
Motorists who drive fewer than 6,000 miles per year may be able to save money by switching to a low-mileage plan. Geico offers the cheapest rates for people who drive infrequently.
Geico’s average rate for low-mileage car insurance is $1,086 a year for someone who drives less than 6,000 miles per year. That’s almost $400 less per year than the national average, a total annual savings of nearly 27%. As is the case in many other subcategories we reviewed, USAA’s rates are still the cheapest overall – about $150 less than Geico’s – so drivers in the military community should consider USAA if they’re eligible for membership.
How To Get the Cheapest Car Insurance Quotes
We’ve done the heavy lifting to find out which major car insurance companies are likely to have the best rates for you, but you won’t know exactly how much you’ll pay until you start getting quotes.
Insurance companies base rates, in part, on data that shows older drivers and married drivers make fewer claims. You shouldn’t get married just to save on insurance and you can’t change your age. However, you can consider these steps to save on car insurance and get the cheapest rate possible:
Comparing quotes from multiple companies is the first step toward getting cheap car insurance. Be sure to ask each insurer about how to adjust your level of coverage to fit your current needs.
Ask for Discounts
Nearly every insurance provider has discounts available for its customers. These can include lower rates for customer loyalty, maintaining a clean driving record and good students.
Increase Your Deductible
The rates that you pay are directly related to your deductible, which is the amount that you agree to pay if you need to file a claim. Opting for a higher deductible is one way that you can lower your insurance premiums.
Decrease Your Limits
Limits refer to the amount of money your insurer will pay after a claim. Higher limits can decrease your out-of-pocket expenses after a claim. They can also drive up your annual premium. Review your personal finances and determine if lowering your limits is worth the lower rates.
Understand State Requirements
Nearly every state has auto insurance requirements that determine the minimum amount of coverage a driver must carry. Factoring in your state auto insurance requirements, alongside your personal assets and finances, can help you decide how much coverage you need or if you’ve purchased too much coverage.
Look for Local Insurers
It’s possible that a large insurer might not be the best or cheapest match for your coverage needs. Check with smaller insurers or with a local agent to see if you can find a lower rate.
Improve Your Driving Record
Insurance companies reward safe drivers with clean records by giving them lower rates. This is because good drivers are less likely to file a claim.
Switch to Pay-Per-Mile Insurance
This type of coverage replaces your traditional car insurance policy, and the main difference is that you pay for auto insurance by the mile. If you put only a few miles on your car every year, the savings can be worth making the switch.
Review Coverage Annually
Take a look at your policy when it’s time to renew. Adjust your coverage, such as your deductible or the number of miles that you drive, to fit your current needs.
Pay Premiums Annually
Most insurance companies will allow you to pay for coverage monthly, biannually or on a yearly basis. However, paying your premiums annually will almost always save you money.
Improve Credit Rating
In most states, drivers with poor credit scores are penalized with higher insurance premiums. Maintain a good credit score, or take steps to improve your credit, and you’ll likely secure a better rate.
Bundle Your Insurance
Most companies offer car insurance discounts if you buy two or more policies. This could include adding a renter’s or homeowner’s policy to your coverage, as well as insuring multiple vehicles together.
Frequently Asked Questions
Who has the cheapest car insurance?
USAA has the cheapest car insurance, but its products are only available to members of the military community. According to our study data, Geico and State Farm have the cheapest car insurance for drivers who do not meet USAA’s membership requirements.
Who has the best car insurance?
Based on our car insurance survey and rates study, USAA offers the best car insurance. Their rates are generally the lowest among the insurers we analyzed, and they generally received high scores in our customer feedback survey.
USAA is only available to members of the military community, so if you don’t fall into that category, you may want to consider State Farm and Geico.
What is the cheapest car insurance policy?
For most drivers, the cheapest car insurance policy is a minimum-coverage policy that meets their state’s auto insurance requirements. Some people, particularly those who don’t drive frequently, may find that a pay-per-mile plan is cheaper than a traditional minimum-coverage policy.
How can I get cheaper car insurance?
To find the cheapest car insurance available to you, the best thing you can do is shop around and compare quotes. It’s a good idea to compare at least three different quotes before you make your decision. Also keep in mind that many car insurance companies offer discounts if you meet certain eligibility requirements. For instance, you may be eligible for a bundling discount if you buy your auto and home insurance from the same company.
You may also be able to lower your rates by maintaining a good credit score or improving a poor one. A clean driving record can also help you unlock the lowest rates.
How can I find the cheapest car insurance quotes?
To get the cheapest car insurance quotes, make sure you’re not buying more car insurance than you actually need. You can use our guide to figure out the right coverage amount for you. Then, cast a wide net. The more quotes you get, the more likely you are to find the cheapest car insurance policy.
What’s the cheapest car insurance for members of the military?
Our study shows that USAA has the cheapest rates for most driver demographics; however, most drivers will not qualify for USAA membership. USAA stands for United Services Automobile Association, and this insurer’s affordable policies are a popular choice among military members, veterans, and their families. According to our data, USAA has a nationwide average annual rate of $1,000, which represents considerable savings compared to the national average rate of $1,442 as well as many of the rival insurance companies in our rankings.
Is it a good idea to get the cheapest car insurance?
If you’re on a budget, it’s tempting to get the cheapest car insurance you can. However, it is not usually a good idea to go with the cheapest quote. A basic policy might not provide adequate protection of your assets if you are found at fault in a collision, and you might be disappointed by the company’s customer service.
What’s the cheapest type of car insurance?
The cheapest type of car insurance is usually a basic policy that meets the minimum insurance requirements in your state. However, maintaining a clean driving record is key to finding the lowest rates.
What car insurance discounts can I get?
Multi-policy or bundling discount: Get a break on your insurance premiums if you have more than one policy with the same company. Most insurers offer discounts for pairing your auto policy with a homeowners or renters insurance policy, and some offer savings for insuring more than one vehicle.
Safe driver discount: Be the kind of driver that insurance companies love (because they save money if you don’t make any claims), and they’ll pass some of their savings on to you. Common safe driver benefits include discounts for maintaining a clean record for a certain period of time, or for completing approved driving skills training.
Driver status discount: Savings for various demographic factors, such as age (senior discount), students, or certain professions, such as teachers or military affiliation. Vehicle equipment discount: Lower premiums for vehicles with certain safety features, such as a theft prevention system or anti-lock brakes. Some insurers offer a similar discount for new or late-model cars.
The Cheapest Car Insurance Companies
State Farm: $1,267
American Family: $1,371
Methodology – How We Collected Our Car Insurance Rates
To get comparative insurance rates for this study, U.S. News worked with Quadrant Information Services to analyze a report of insurance rates in all 50 states from most of the largest national car insurance companies, though not every company operates in every state. Quadrant obtained publicly available rate data that car insurers file with state regulators. Our study rates are based on profiles for both male and female drivers aged 17, 25, 35, and 60. Vehicles used include the 2017 and 2021 Honda Civic, 2017 and 2021 Toyota RAV4, and 2017 and 2021 Ford F-150, with annual mileage ranging from 6,000 and 12,000. Three car insurance coverage levels were used, as were credit tiers of good, fair, and poor. Clean driving records, as well as records with one accident, one speeding violation, or one DUI were also used in the calculations of certain driver archetypes.
To get the study rates shown here, we computed the mean rate for male and female drivers ages 17, 25, 35, and 60 who drive 12,000 miles per year, have medium coverage, good credit, and a clean driving record. The rates shown here are for comparative purposes only and should not be considered “average” rates available by individual insurers. Because car insurance rates are based on individual factors, your car insurance rates will differ from the rates shown here.
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