Cheapest Car Insurance in the US
So if you’re looking to get the cheapest price on your car insurance, and I get it, cheap and value are two different things, but let’s talk about the cheapest car insurance that you can get in the US. I’m also going to go over and review some of these companies and give you personal opinions or some of the facts that I know about them to give you an idea of whether the cheap is worth the value. So let’s Dive In.
Liberty Mutual
This is actually an article I got from a company called Digital Insurance (dig in.com). I believe it is their website, but they mark these companies from 10 to 1. Number 10 is Liberty Mutual. Liberty Mutual unfortunately is going downhill a little bit. Great company, great people, but they’re restructuring a lot of things. They’re coming in at the minimum coverages, which is more just PLPD (personal liability and property damage). It’s just the barebones coverages at about $1,090 on average per year. Now this article doesn’t actually say per year, but if it’s not, then these prices are crazy. But that’s I’m assuming it is because I looked on their website and apparently they didn’t go into depth on where they got the data.
Farmers Insurance
Number 9 is Farmers Insurance. Farmers Insurance has actually gone downhill as far as reputation, but they’re starting to move uphill as far as the business that they’re pulling. It’s kind of weird because they’ve removed their coverages from a lot of states, or at least reduced them, but the agents are really pushing to move forward. The problem you’re going to run into is when that happens, when companies commissions for their agents are reduced, they’re going to push a lot more life insurance. Expect if you’re going to call a Farmers agent, they’re going to offer life insurance along with that auto quote that you’re asking for. They’re coming in at about $1,044 per year for minimum coverages and $3,295 per year for full coverage. Not horrible, not great, but that’s usually a little bit better than what we’re looking at.
Nationwide
The number 8 spot is Nationwide. Nationwide has been a great company for us specifically and in many different states. The problem you’re going to run into with Nationwide is they don’t really want a lot of business right now. They want to keep it calm and be a little bit more particular on who they bring into the door. One of the things you’re going to see is if you just have one car, you’re going to have to pay 70% of that bill. They also require that you hand in the registration to prove that you own the car, and they want to see photos of the car to make sure there’s no damage, which is fairly rare for an insurance company.
The great part about Nationwide is it goes through an independent agency instead of direct brands like Liberty Mutual and Farmers. Nationwide usually works with 5-6 or more companies to shop around for you.
Allstate
Number 7 is Allstate. I actually like Allstate to a point. We use them in our agency, and they are fairly competitive in some areas. Their auto insurance is okay as far as price goes. Allstate’s pricing for minimum coverages is $781, and their full coverage comes in at $2,438. If you’re looking for cheap, Allstate probably won’t be the cheapest option but they are a good company.
State Farm
Number 6 is State Farm. State Farm is really focusing on their branding piece. They’re really tied to a lot of things like football and promoting their brand heavily. But they’re not the cheapest, and they are facing a lot of lawsuits. They’re coming in at $718 for the basic minimums and $2,627 for full coverage. Still not bad, but there are cheaper companies out there that are equally great.
Travelers
Number 5 is Travelers. Travelers has a really good reputation in many states, though they can be strict in some areas. They are coming in at $639 for minimums and $2,536 for full coverage. They are a great company overall, just a little more selective on the type of policies they offer.
Progressive
Number 4 is Progressive. Progressive is coming in at $549 for minimums and $2,271 for full coverage. The great thing about Progressive is that they are always innovating and trying to stay ahead of trends. Their rates don’t shoot up drastically, making them a solid choice for many people. However, they can be a strict company when it comes to claims, so make sure to read the fine print of your policy.
AAA
Number 3 is AAA. I don’t like AAA as much as I used to. They’ve fallen off in terms of technology, and their rates are often higher than others. They are more known for road service than car insurance, but they still offer competitive rates, with $529 for minimum coverage and $2,869 for full coverage.
USAA
Number 2 is USAA. USAA used to be number one forever, but their service has dropped quite a bit. They’re still a good company, but customer service has been lacking. They are coming in at $487 for the minimum and $1,829 for the max coverage. They do require you to have served or be a family member of someone who has served.
Geico
Number 1 is Geico, which I completely disagree with in this article. Geico is not a horrible company, but they tend to be the best fit for younger drivers or high-risk individuals. Their prices are $462 for the minimums and $1,955 for full coverage. If you have a newer car and are a lower risk driver, Geico might not be the best option.