Table of Contents
- Cheapest Car Insurance Companies by Category
- Cheapest States for Car Insurance
- How to Get Cheap Car Insurance
- Cheap Car Insurance FAQ
Cheapest Car Insurance Companies by Category
- Cheapest for Full Coverage
- Cheapest for After a Ticket
- Cheapest for One At-Fault Accident
- Cheapest for DUI
- Cheapest for Poor Credit
- Cheapest for Young Drivers
- Cheapest for Old Drivers
Cheapest Car Insurance Companies for Full Coverage
|Geico: $154 per month|
|USAA: $189 per month|
|State Farm: $200 per month|
|Allstate: $248 per month|
|Esurance: $251 per month|
Full coverage refers to a policy that goes beyond the minimum state requirements and includes both collision and comprehensive coverage. Because full coverage protects you in more situations, it costs more than the minimum required coverage.
Cheapest Car Insurance Companies After a Ticket
|Geico: $80 per month|
|USAA: $82 per month|
|State Farm: $110 per month|
|Chubb: $115 per month|
|Allstate: $117 per month|
After a speeding ticket, most drivers will see their insurance rates go up for 3-5 years. The extent to which premiums rise after a ticket can vary significantly by insurance company, however.
Cheapest Car Insurance Companies For Drivers with One At-Fault Accident
|Geico: $92 per month|
|USAA: $113 per month|
|State Farm: $121 per month|
|Allstate: $144 per month|
|Chubb: $149 per month|
One at-fault accident will increase the average driver’s car insurance premium by around 50% for 3-5 years. The penalty is more severe with some insurance companies than others, though.
Learn about what an at-fault accident is & how to deal with one
Cheapest Car Insurance Companies After a DUI
|Geico: $142 per month|
|USAA: $144 per month|
|State Farm: $163 per month|
|Mercury: $173 per month|
|Allstate: $185 per year|
Insurers always charge drivers more for coverage after a DUI conviction, given what such an infraction indicates about the driver’s risk profile.
Cheapest Car Insurance Companies for Drivers with Poor Credit
|Geico: $96 per month|
|USAA: $115 per month|
|State Farm: $182 per month|
|Allstate: $206 per month|
|Kemper: $252 per month|
Less-than-good credit can lead to higher car insurance premiums, but there are two ways to avoid paying more than necessary as a result of a poor credit score. One is to work on improving your credit, which WalletHub’s personalized advice can be a big help with. The other is to comparison shop for car insurance.
Learn about no credit check car insurance companies.
Cheapest Car Insurance Companies for Young Drivers
|Geico: $148 per month|
|Allstate: $184 per month|
|USAA: $189 per month|
|State Farm: $196 per month|
|Chubb: $261 per month|
Since young drivers have less experience behind the wheel, insurers tend to charge them higher rates than more mature drivers. On average, most drivers will see their rates drop as they get older, with a considerable decrease once they turn 25 years old.
Cheapest Car Insurance Companies for Older Drivers
|Geico: $61 per year|
|USAA: $76 per month|
|State Farm: $83 per month|
|Chubb: $90 per month|
|Allstate: $101 per month|
Although mature drivers pay less for car insurance than teens, older drivers start to see their rates go up as they enter their senior years. By simply comparing quotes, older drivers can save hundreds of dollars per year.
Learn more about the best car insurance for seniors.
Cheapest States for Car Insurance
|Rank||State||Average Monthly Premium|
8 Tips for How to Get Cheap Car Insurance
1. Get a car that’s cheap to cover.
Certain car models cost more to insure than others. Cars that are safer and cost less, like minivans and SUVs, are cheaper to insure than expensive, fast sports cars.
2. Be on your best behavior.
Safe drivers with no history of accidents, tickets or arrests can look forward to cheaper rates than people who haven’t been as responsible. Convicted felons will also often have to pay more, even if their record isn’t related to driving.
3. Take advantage of discounts.
You may be able to get discounts if you are a veteran, get paperless statements, have a good driving record, bundle policies, are a student or have an anti-theft system, to name a few.
4. Build good credit.
Your credit score will often factor into your auto insurance rates – people with no credit pay 67% more than people with excellent credit on average. Insurers know that financial responsibility often correlates with responsibility in other areas of life. People with poor credit are more likely to file an insurance claim. To boost your credit score, always pay you credit bills on time and try to use less than 30% of your available credit.
5. Look locally.
There are several big-name nationwide auto insurers with lots of satisfied customers, but you don’t necessarily have to get coverage from a company that takes clients from all across the country. Plenty of car insurance companies only cater to customers in certain regions or states. These local insurers may provide lower rates but are often overlooked. Make sure to include them in your comparison, at least.
6. Choose a higher deductible.
An insurer may lower your monthly rates in return for a higher deductible – the amount you personally have to pay when you make a claim. That can save you money if you never have an accident. This approach makes the most sense for people who are very infrequent drivers.
7. Select less comprehensive coverage.
There are many types of car insurance. You will usually need liability coverage, to pay for the other person’s damages if you’re at fault in an accident. But you may not need collision coverage (pays for your repairs) or comprehensive coverage (pays for non-accident-related damages). Both pay out based on your car’s current value. If your car is older and will cost more to fix than to buy a new vehicle, it may not be worth it.
8. Consider pay-per-mile plans.
You don’t always have to pay a set amount per month. There are also plans based on how much you drive. If you have a car but rarely use it or only drive very locally, a pay-per-mile plan may be best for you. The insurance company will place a device in your car that tracks your mileage. It may also track things like your speed and braking, which could affect your rates positively if you’re a safe driver and negatively if not.
Methodology for Selecting the Cheapest Car Insurance Companies
WalletHub’s analysis of cheap car insurance companies is based on data from the state DMVs and Quadrant Information Services. Together with that data, WalletHub used the characteristics listed below to create a driver profile designed to identify the cheapest car insurance companies nationally. Given that prices and data availability vary widely across the country, WalletHub compared the cost of major car insurance companies by averaging each insurer’s premiums across the three largest states.
In the table below, you can see all of the profile characteristics that were used in WalletHub’s analysis.
|Category||All Profile Characteristics||Good Driver Profile|
|Age||16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 35, 45, 55, 65||45|
|Marital Status||Single, Married||Single|
|Teenage Driver Included on Policy||No, Yes||No|
|Driving Record||Clean, One Speeding Ticket, One At-Fault Accident, One DUI, Suspended License, Open Container, Red Light Infraction, Reckless Driving, One Not At-Fault Accident||Clean|
|Miles Driven Per Year||7,500 Miles, 15,000 Miles, 20,000 Miles||15,000 Miles|
|Coverage Level||Minimum, Standard, Full||Minimum|
|Discounts||None, Multi-Policy, Homeowner, Student||None|
|Credit Level||Poor, Good||Good|
|Filings||None, SR22, FR44||None|
|Car||Sedan, Minivan, SUV, Coupe, Truck||Sedan|
Below are additional details regarding the terminology and specific characteristics of the variables in the above table:
- Minimum Coverage: State minimum coverage requirements.
- Standard Coverage: Coverage levels of 50k/100k/25k of liability coverage and 50k/100k/25k of uninsured motorist coverage.
- Full Coverage: Coverage levels of 100k/300k/50k of liability coverage, 100k/300k/50k of uninsured motorist coverage, and collision and comprehensive coverage with a $500 deductible.
- Sedan: 2018 Toyota Camry.
- Minivan: 2018 Dodge Grand Caravan.
- SUV: 2018 Toyota RAV4.
- Coupe: 2018 Ford Mustang.
- Truck: 2018 Ford F-150.
Where driver profiles are not specified, WalletHub used the good driver profile, using the above variables. Quote information is from Quadrant Information Services and is representative only. Individual rates will be different.