No matter what your circumstances are, you will want to get great value for your money when shopping around for car insurance. Some companies charge more for the same service than others, and it is hard to compare deals side by side. Our cheapest auto insurance reviews will help you decide which coverage to get and which insurers to contact for a quote.
Car Insurance Price Comparison Sites
There are several companies that have compiled a few different comparison tables for car insurance companies. The Zebra created a full comparison of insurers on average across the board.
The cheapest company for auto insurance is USAA, with an average rate of $94 per month. You will, however, need to bear in mind that some of the cheaper auto insurance policies are not available for the public, only active military personnel, veterans, and their families.
Cheapest Six-Month Car Insurance Premiums
Based on six-month car insurance premium rates, USAA was found to be the cheapest, followed by GEICO, Nationwide, Progressive, and State Farm. The prices are competitive though, as there is less than $100 difference between the cheapest (USAA at $567) and the fifth-cheapest (State Farm at $676).
Cheapest Car Insurance With Excellent Credit
Those who are good at paying bills can get a better rate than people who ignore them. Nationwide is the cheapest at $500 for six months. The same coverage costs $502 with GEICO and $927 with Allstate, which is the most expensive.
Cheapest Car Insurance With Poor Credit
If you have poor credit, the cheapest car insurance company is Nationwide, costing you $785. The second-cheapest company is GEICO, with an average cost of coverage for six months priced at $903. The most expensive insurer for those with a less than perfect credit history is Allstate, charging you $1577 for six months, which is an increase of almost $700 compared to those with good credit.
Average Prices Per Company Based on Annual Miles
Car insurance companies price their coverage based on how many miles you cover. ValuePenguin created a comparison between prices for under 7500 miles and between 7500 and 15,000 miles.
For low mileage (under 7500 miles), the cheapest insurer was GEICO, followed by Nationwide and State Farm.
For over 7500 miles a year but less than 15,000, the cheapest company was Nationwide, and the most expensive one was Allstate, costing drivers over $1000 for six months.
Cheapest Car Insurance for DUI
If you have a DUI, you will not only have to deal with the legal case but also higher insurance prices. Your premium might be increased by your insurer by as much as $485 for six months of coverage. With Allstate, however, the increase can be almost double. Always compare the prices before you commit.
Progressive and State Farm only increase prices after a DUI by just over $300 for six months.
Cheapest Car Insurance After an Accident
Having an accident can increase your premium by up to a third. However, some companies can still give you a good price if you shop around.
If you had an accident and would like to take out a six-month policy, the cheapest option is USAA, costing $767. That’s an increase of $200 compared with those who haven’t had a claim. Allstate will cost you $1706 after an accident, compared with $1013 before.
Cheapest Auto Insurance After Hit and Run
If you cause a hit-and-run accident, your car insurance price is likely to double. With Allstate, you can get a six-month policy for $1013 before the hit and run, and after the incident, the price goes up to $2001. State Farm will only increase your premium by $243 for six months.
Cheapest Prices for License Suspension
If you have a suspended license charge on your driving record, you can expect to pay up to 70 percent more. However, State Farm will raise their prices a little less than $200, from $676 to $877.
Best Car Insurance Prices for New Drivers
If you have less than five years of driving history, you might pay more with most car insurance companies. USAA and GEICO charge you less than $100 more if you have no driving history, compared with those who do have five years of driving history, for a six-month term. Liberty Mutual will charge those without a driving history $1050 compared with $752 if you have at least five years of driving history.
Some companies offer teen driver discounts, but if you need to add a teen on a policy, the cheapest companies are Nationwide and USAA.
Best Insurance Companies for Different Circumstances
As the algorithm of risk assessment differs from one company to another, it is important that you seek a price based on your individual circumstances. Here’s an overview of which company is the best for various driver profiles.
- Teen drivers get the best price with USAA.
- Those who are looking for a quote after an accident should try USAA.
- After a license suspension, State Farm might be the cheapest option.
- Reckless drivers and those who had their license suspended could still get a reasonable deal with State Farm.
- Nationwide rewards those with a great credit score.
- New drivers can get a good price with GEICO.
- Progressive offers competitive prices after a DUI conviction.
Reduce Your Cost: Take Advantage of Auto Insurance Discounts
Of course, the above comparisons do not include discounts, and they matter quite a lot. No matter if you have had a clean driving record for 15 years or had trouble with your credit score, you can still take advantage of discounts. Read this guide on how to obtain different discounts on your car insurance.
Not all discounts are advertised, so you might need to ask for them. If you only use your car during the weekends, you can get a low-mileage discount. If you are a student, you can apply for a special rate. Homeowners can also get a discount.
The most common discounts offered by auto insurance companies are:
- Military personnel or veteran discount.
- Multipolicy discount (bundle).
- Student discount.
- Retired discount.
- Pleasure-use discount (low mileage).
- Safe driver discount.
- Teen driver discount.
Check this out if you need additional information, resources, or guidance on car insurance.
Sources:
The Cheapest Car Insurance Companies (May 2021)
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