One of the best ways to get cheap car insurance is to compare car insurance offers – and the companies that offer them. Who has the cheapest car insurance rates?
Which insurance company has the lowest rates?
Your car insurance premium is priced to fit like a glove. Insurers evaluate your driving history, demographics and other data to determine what type of customer you will be. But from the consumer point of view, the basic question is which company offers the cheapest insurance?
On average, USAA offers the lowest auto insurance rates in America – just $ 474 for a six-month policy or $ 948 per year. The caveat is that the USAA coverage is only available to active soldiers, veterans, or their family members.
Only seven car insurance companies make up over 65% of the US market for individual car policies. These are Allstate, Farmers, Geico, Liberty Mutual, Progressive and State Farm, which are available to everyone, and USAA, the insurer of active members of the army, veterans and their families.
Compare below. The rates relate to policies covering liability, collision, comprehensive and uninsured / uninsured driver insurance, as well as any other insurance required in each state. Our “good driver” profile is a 40-year-old, with no mobile offenses and no “good” recognition.
Here are the annual car insurance rates for the seven largest car insurers in the United States, averaged for all states:
- Geico: 1198 USD.
- State Farm: 1511 USD.
- Progressive: 1776 USD.
- Liberty Mutual: 1778 USD.
- Allstate: 1834 USD.
- Farmers: 1865 USD.
- USAA *: 1023 USD.
* USAA, the cheapest, does not have a ranking because it is not available to everyone. Remember that these are average for the whole country, so rates in your area will vary. Credit history and fault accidents can have a big impact on insurance rates. Maybe it’s also age, marital status and other factors. That is why it is important to compare car insurance offers from many companies to find the best rate.
Cheap rates from small insurers
Finding cheap car insurance doesn’t mean you have to stick to large insurance companies. Regional and small insurers can beat the lowest car insurance rates from big guys and often have great customer service. Below are the average annual rates of some smaller insurance companies, as per our analysis, as well as where to find them.
- Grange: USD 605 per year.
- Erie: USD 835 per year.
- Secura: USD 872 per year.
- Cincinnati insurance: USD 968 per year.
- Country Financial: USD 1136 annually.