Driving a car can be costly if you don’t have insurance. These things can destroy your budget. But if you want car insurance at cheap rates then defiantly came at right place.
Getting cheapest car insurance doesn’t mean you get less protection. Some of the popular insurance companies like GEICO, offers to its customers buy car insurance at cheap price. Keep reading to find out more about the cheap car insurance and tips for save money.
Cheap Car Insurance: Key Information to Understand
Car insurance costs are depending on many factors, so there’s no one company 100 % sure that’s their cheapest for everyone. But if you compare car insurance quotes online, you can figure out where you might get the best prices.
Carinsuranceqts.com are compare car insurance quotes from top insurance companies. We’ll also talk about their discounts for car insurance and give some tips to find the cheapest rates in multiple options.
Cheapest Car Insurance Company (Largest) in U.S
| Insurance Company | Average Monthly Quote |
| State Farm | $107 |
| GEICO | $114 |
| Progressive | $158 |
| Travelers | $187 |
| Allstate | $192 |
Out of the top largest insurance companies in U.S, we discovered that State Farm has the cheap car insurance rate as compare others. On average, it costs around $107 per month. This is $7 less per month as compared to GEICO and $51 less than Progressive.
State Farm offers multiple options to its customers for save money before buy car insurance policy. With using multiple options, the costs of car insurance defiantly cut down. By participating in the Drive Safe & Save program then you can save up to 30% but this program only for professional drivers. If you are a teenager driver then you can participate “Steer Clear programs” and save up to 20%.
When you want car insurance quotes online, you’ll need to contact with a local State Farm agent in your area. However, if you’re a new customer and living in Massachusetts or Rhode Island, you can’t buy auto insurance from State Farm. Also, while you can obtain coverage for ride-sharing, State Farm doesn’t provide gap insurance.
Auto-Owners Insurance: Cheapest Car Insurance Company for State-Minimum Insurance
If you’re searching for basic liability coverage without extra features, Auto-Owners Insurance offers the most affordable quotes, with average cost around $55 per month. Choosing only liability insurance that means your own car won’t be covered if you’re at fault in an accident. It provides coverage for bodily injury and property damage liability to take care of the expenses for the other driver.
Every state has specific minimum coverage requirements that you must meet. If you require more coverage, your rates getting higher according to the regulations in your state.
State-minimum coverage is affordable and best options for drivers not have good driving record. However, this type of coverage won’t pay for repairing your car in case of an accident (collision coverage) or provide protection if your car is stolen, vandalized, or you hit an animal (comprehensive insurance).
Additionally, if you cause an accident and your liability limits are exceeded, you might be responsible for covering the additional expenses.
State Farm: Cheapest Car Insurance Company for Full-Coverage Insurance
Full-coverage car insurance includes at least your state’s minimum requirements, plus extra coverage, like:
- Comprehensive coverage
- Collision coverage
- Medical payments (MedPay)
- Personal injury protection (PIP)
- Uninsured and underinsured motorist coverage
These extra insurance coverage offer increased protection, but they come with a higher price. The cheapest full-coverage insurance is available in State Farm, with an average monthly cost of $139. This is $84 more per month compared to the cost of state-minimum insurance.
Certainly, it comes with a higher expense, but it offers a level of financial protection that you can’t attain with minimum coverage. When you opt for full coverage, you can also include additional coverage such as rental reimbursement and new car replacement.
If you’re concerned about being unable to afford repairs or a replacement for your vehicle, and if you wish to avoid the risk of potential lawsuits due to insufficient liability coverage, it’s a good idea to consider getting full-coverage car insurance and increasing your liability limits.
Erie Insurance: Cheapest Car Insurance Company for Drivers With Spotty Records
| Driving Record | Liability | Full Coverage |
| Clean record | $71 | $169 |
| Speeding ticket | $81 | $194 |
| At-fault accident | $95 | $221 |
| DUI | $119 | $277 |
If you have a good driving record without any accidents, you can enjoy lower insurance rates. For Erie, the average monthly quotes for liability coverage are around $71, and for full-coverage cost $169. However, if you receive a speeding ticket, then these average quotes increase by $10 for liability coverage and $25 for full coverage.
If you have an at-fault car accident on your driving record, the average monthly quotes rise to $95 for liability coverage and $221 for full-coverage. However, if you receive a serious offense like a DUI, you can expect to pay even more. In this case, liability coverage averages around $119 per month, and full coverage costs around $277.
It’s important to mention that Erie is a regional insurance provider that operates in only 12 states. If you reside in a state where Erie not available, then at this time the GEICO is another cost-effective choice for individuals with tickets, accidents, or DUIs on their driving records.
No matter what situation, drivers can still find cheap car insurance at near area. Adding discounts, such as those for completing a defensive driving course, can save money. Opting for a smaller insurance company like Erie might also be a cost-effective option. Maintaining a strong credit score and consistently comparing car insurance quotes are also effective ways to cut your insurance costs.
GEICO: Cheapest Car Insurance Company for Drivers with Bad Credit
If your credit is not good and you live in a state where your credit score affects your insurance rates, it means you paying higher prices for car insurance. Drivers with average credit scores pay an extra $7 each month for liability coverage and an additional $17 for full coverage as compared to drivers with “good” credit scores. For driver who have poor credit, then difference is increase with premiums $33 higher per month for liability coverage and $83 more for full coverage.
| Credit Score | Liability | Full Coverage |
| Good | $68 | $159 |
| Average | $75 | $176 |
| Poor | $101 | $242 |
For drivers who have poor credit, GEICO could be a best option. It provides 16 discounts, including special rates for military personnel, federal employees, and safety features on vehicles. GEICO’s mobile app available on Google Play Store & Apps Store.
However, it’s important to that if you don’t find certain coverage with GEICO. Additionally, due to a limited number of local agents, you might not receive the same personalized service that other insurance companies could offer.
GEICO: Cheapest Car Insurance Company for Young Drivers
Get cheap car insurance young driver with good coverage from GEICO. The average monthly quotes for liability coverage are only around $152 for 18-year-olds and approximately and $345 for full coverage. When you compare these quotes to the national averages of $263 per month for liability coverage and $530 per month for full coverage, it becomes evident that GEICO gives best offers and value for teens.
Once you turn 25, you can expect a notable reduction in your insurance premiums. For instance, when looking at GEICO insurance quotes, then the liability coverage becomes $79 cheaper per month, and full coverage drops to half the price, which is $172 cheaper per month, when comparing 25-year-old drivers to those who are 18 years old.
| Age | Liability | Full Coverage |
| 18 years old | $152 | $345 |
| 25 years old | $73 | $173 |
GEICO popular for their reasonably priced rates for young drivers, which is beneficial as they offer a limited number of discounts for this age group. Young drivers can take benefit from discounts by taking a driver’s education course, and full-time students maintaining a B or higher GPA can save with a good student discount.
While GEICO might have fewer optional coverage choices compared to other insurers. This coverage can save drivers money on various repairs that aren’t usually covered by traditional car insurance.
Erie Insurance: Cheapest Car Insurance Company for Seniors
Senior drivers is looking for cheap car insurance then consider Erie Insurance if it’s available in their your area. Erie offers an average monthly liability premium of $67 and $145 per month for full coverage.
Even though Erie doesn’t have special discounts for seniors’ drivers, you can still save money by having vehicle safety features and by paying your premium in full. If you’re a snowbird, you could potentially reduce your rates by putting your car in storage while you’re away.
Erie also provides rate lock and first accident forgiveness to eligible customers. These features might lead to a higher premium at first, but they save your money from future rate increases and extra costs following an at-fault accident. Additionally, Erie offers coverage for pets and personal items, which is not commonly offered by other car insurance companies.
Types of Car Insurance Discounts That Your Maximum Savings
Including many car insurance discounts is great way to get lower rates. You might qualify for multiple discounts, and many car insurance companies allow you to combine them for even more savings. While the actual amount saved per discount can differ depending on the insurer, the discounts mentioned below typically have the most significant impact on your monthly insurance premium.
Good Driver Discounts
To qualify for good driver discounts, it’s essential to maintain a good driving record. The accident-free discount is accessible for drivers who haven’t caused any at-fault accidents in the past three to five years. Additionally, if you manage to avoid receiving any tickets during the same time period, you might also be eligible for a violation-free discount.
Most of insurance companies provide usage-based discounts, which enable you to reduce costs by steering clear of unsafe driving habits. The duration to complete these programs differs from one company to another, as do the amounts of savings you can attain.
Multi-Policy Discounts
If you have multiple policies with same insurance company, you might qualify for a multi-policy discount. Many providers offer this discount when you bundle your home, renters, or condo policy together with your auto insurance.
Some insurance companies extend this discount to cover more combinations of policies, such as insuring your auto, motorcycle, boat, or life insurance policies together. The discount amount will be savings your 20% or even higher, depending on the specific company and the types of policies involved.
Multi-Car Discounts
Similar to the multi-policy discount, having multiple vehicles insured with the same insurance company can lead to a multi-car discount. To qualify, each vehicle needs to be listed on the same policy.
Insurance companies offers to its customers to save money up to 25% when insure at least two or more vehicles, making this a simple method to obtain the best rates if you have multiple cars.
Telematics Discounts
You might be eligible for a telematics program if you’re a safe driver with a clean driving record. Many car insurance companies provide savings up to 40% through a telematics discount for consistently practicing safe driving behaviors.
Telematics programs monitor information such as when you drive, your mileage, hard braking, and fast acceleration. While most insurance companies solely offer discounts, some like GEICO, Farmers, and Progressive may increase your rates if they assess you as a risky driver.
Defensive Driving Discounts
Many car insurance companies offer savings of up to 15% if you successfully finish a state-approved defensive driving course. You can earn the defensive driving discount once you complete the course, whether it’s done in person, online, or in a hybrid format. This discount might be limited to young drivers or those aged 55 and older (depending on the insurer), and it might not be offered in all states.
Loyalty Discounts
Your loyalty to an insurance company for at least two years could lead to rewards. The loyalty discount may result in savings ranging from 10% to 20% on your car insurance policy. However, it’s important to note that even if a company provides a loyalty discount, it doesn’t necessarily mean they are the cheapest option. Comparing car insurance quotes from various providers might offer you even greater savings. Therefore, it’s worthwhile to explore your options and shop around when it’s time for your policy renewal.
Affinity Discounts
Some insurance companies offer affinity discounts that range from 3% to 20%, which are available to individuals who belong to specific organizations or work for particular employers. Examples of these include college honor societies or alumni programs, credit unions, military or veteran affiliations, government employees, and AAA memberships. The list of eligible affiliations can differ from one insurance company to another, so it’s a good idea to inquire with your provider about which affiliations are eligible and how to maximize your savings.
Paperless Discounts
Opting for a paperless approach isn’t just environmentally friendly; it can also lead to savings on your car insurance. Your insurance company could provide a paperless discount if you decide to receive billing and policy documents electronically. They’ll send you emails whenever new documents are available. Furthermore, you’ll have constant access to all your policy-related documents, including ID cards, through your online account or mobile app.
Paid-in-Full Discounts
When you pay monthly payment is best way to saving your money because many insurance companies add some extra charges when you pay installment, this happens raising your overall monthly car insurance expenses. If you’re able to pay your policy semi-annually or annually in one go, you might be eligible for a paid-in-full discount, which could save you around 5% to 10% on your insurance premium. Unfortunately, this discount isn’t offered in California or New York.
Cheap Car Insurance : Expert Tips
There are many methods you get cheaper car insurance with specific discount from the company. Here are five expert tips to help you obtain cheaper car insurance:
1. Maintain a Clean Driving Record: Avoid accidents and traffic violations to qualify for lower rates. Insurance companies often reward safe driving habits with discounts.
2. Bundle Policies: Consider getting multiple insurance policies from the same provider, like combining your auto and home insurance. This can lead to substantial multi-policy discounts.
3. Shop Around: Don’t buy car insurance before compare multiple quotes online. Compare rates from different insurance companies to find the best deal that suits your needs.
4. Raise Your Deductible: Increasing your deductible – the amount you pay before insurance kicks in – can lower your premium. Just make sure you can comfortably afford the higher deductible in case of a claim.
5. Improve Your Credit Score: A higher credit score is often linked to get cheap insurance rates. Paying bills on time and reducing outstanding debts can positively impact your score and your premiums.
FAQs
What are the cheapest car insurance company?
There isn’t a single insurance company that is universally the cheapest for everyone. The most affordable car insurance provider varies based on factors like age, driving history, and coverage requirements.
To find the cheapest car insurance tailored to your specific situation, it’s recommended to compare car insurance quotes from at least three insurance companies. Our analysis suggests that State Farm, GEICO, and Progressive often offer competitive rates, making them good starting points for your search.
How can you find cheap car insurance?
It’s a good practice to compare car insurance quotes every time your policy is up for renewal. Make sure to obtain quotes from both smaller and larger insurance providers to determine which company offers the most affordable rates in your state. Additionally, inquire about available discounts to maximize your savings by taking advantage of all the discounts you qualify for.
Is it possible to get cheap car insurance with bad credit?
When you having a bad credit might result in pay higher premiums, you can still find affordable car insurance by comparing quotes from different insurers, utilizing available discounts, and exploring options with companies that are more lenient toward credit scores.
Can I still get cheap car insurance if I’m a high-risk driver?
High-risk drivers might pay higher premiums, but you can still find more affordable options by taking defensive driving courses, maintaining continuous coverage, and shopping around for quotes to find the best deal.
Can I get cheap car insurance with an older vehicle?
Yes, you can get cheaper insurance for older vehicles. However, you might want to consider dropping collision coverage if the car’s value is low, as repairing it might cost more than its worth.
How do online tools help find cheap car insurance rates?
Online tools or many comparing website like carinsuranceqts.com allow you to easily compare quotes from different insurance companies, enabling you to find the most cost-effective option that suits your needs and budget.
