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Cheapest Car Insurance Companies of September 2024
Assistant Assigning Editor | Auto insurance
Assigning Editor | Auto insurance, home insurance, other insurance
Lead Writer | Small business, Insurance
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Key insights 💡
The top five cheapest car insurance companies in the United States are Geico, Travelers, State Farm, American Family and Progressive, according to NerdWallet's August 2024 analysis of large insurers.
Geico offers the cheapest minimum coverage, with an average rate of $353 a year.
American Family offers the cheapest full coverage, with an average rate of $1,281 a year.
Wanting cheap car insurance in this economy can seem like a no-brainer. But every company is different, and what’s cheapest for one driver may not be cheapest for you.
That’s why NerdWallet did the legwork for you. We analyzed minimum and full coverage auto insurance rates from 137 car insurance companies around the country to find cheap car insurance across several categories.
Why trust NerdWallet
60+ years of combined experience covering insurance.
1.5 billion+ auto insurance rates analyzed by our team of experts.
700+ auto insurance companies analyzed in over 29,000 U.S. cities. (See our top picks.)
NerdWallet writers and editors follow strict editorial guidelines to ensure fairness and accuracy in our writing and data analyses. Read our criteria for evaluating auto insurance companies.
Check out the table below to find the cheapest car insurance company for each category in our August 2024 analysis.
| Category | Cheapest company | Median monthly rate |
|---|---|---|
| Large company | Geico | $29 |
| Midsize company | California Casualty | $18 |
| After a speeding ticket | Geico | $37 |
| After an accident | Geico | $47 |
| After a DUI | Progressive | $49 |
| If you have poor credit | Geico | $40 |
| Young drivers | Geico | $56 |
| Senior drivers | Geico | $32 |
| Full coverage | American Family | $107 |
If you want the best of the cheapest, check out NerdWallet’s roundup of the best cheap car insurance companies. Or continue reading below to find more cheap car insurance options.
Did your car insurance rates go up? Premiums are on the rise across the U.S. The best way to find cheap auto insurance is to shop around and compare car insurance quotes from at least three insurers.
Find the right car insurance at the right price
Just answer a few questions to compare personalized insurance matches.How NerdWallet found the cheapest car insurance companies
NerdWallet’s editorial team analyzed minimum and full coverage car insurance rates from pricing analytics company Quadrant Information Services. Our analysis looked at 35-year-old drivers in all ZIP codes across the 50 U.S. states and Washington, D.C., with a variety of driving and credit histories. All drivers had a 2021 Toyota Camry LE.
Full coverage can cost significantly more compared to minimum coverage. That’s because it comes with additional coverage like uninsured/underinsured motorist protection and comprehensive and collision insurance.
If you have a car loan or lease, your lender will likely require you to buy comprehensive and collision coverage. These coverage types pay you if your car is stolen or damaged in an accident you cause, among other scenarios.
Read our methodology for more insights into how we ranked cheap car insurance companies.
Most of the rates on this page are based on state-mandated minimum coverage limits, which tend to be very low. Going with minimum car insurance is legal but may leave you financially vulnerable if you’re in a serious accident. To find cheap companies with more coverage, check out NerdWallet’s list of cheap full coverage insurance. The extra peace of mind may be worth the price.
Cheap car insurance companies
Geico is the cheapest large auto insurance company in the nation for good drivers, according to NerdWallet’s August 2024 analysis of minimum coverage rates. Geico’s average annual rate was $353 or about $29 per month.
Cheap car insurance from large companies
Here are the cheapest large insurers for minimum coverage.
| Company Name | Median annual rate | Median monthly rate |
|---|---|---|
| Geico | $353 | $29 |
| Travelers | $436 | $36 |
| State Farm | $465 | $39 |
| American Family | $484 | $40 |
| USAA* | $308 | $26 |
*USAA is only available to military, veterans and their families.
Cheap car insurance from midsize companies
Finding affordable car insurance doesn’t mean you have to stick with large insurers. Smaller insurers that offer coverage in multiple states may offer more affordable car insurance.
Here are the cheapest midsize insurers for minimum coverage. We chose these companies because of their relatively low rates for car insurance and availability in multiple states. But there may be more reasonable car insurance options where you live. Consider working with an insurance broker or independent agent to help compare rates with smaller, lesser-known companies.
| Company Name | Median annual rate | Median monthly rate |
|---|---|---|
| California Casualty | $220 | $18 |
| American National | $320 | $27 |
| Erie | $363 | $30 |
| Auto-Owners | $370 | $31 |
| Central Insurance | $373 | $31 |
Find the right car insurance at the right price
Just answer a few questions to compare personalized insurance matches.Cheap car insurance by state
You may be wondering, “What’s the cheapest auto insurance near me?” What counts as cheap auto insurance will be different depending on where you live, as rates vary from state to state.
For the sake of comparison, we found the cheapest car insurance company for minimum coverage, on average, in each state and Washington, D.C.
» MORE: Get free car insurance quotes
State averages can only tell you so much. Even within each state, car insurance rates for minimum coverage can differ. That's why NerdWallet analyzed rates for some of the largest cities in the U.S.
Choose your city in the dropdown below to find cheap car insurance in your area.
Cheapest car insurance by driving profile
Cheap car insurance after a speeding ticket
A speeding ticket on your driving record will likely increase how much you pay for car insurance. According to our analysis, Geico offers the cheapest rates after a speeding ticket, with an average annual rate of $445, or $37 per month.
Here are the cheapest auto insurance companies for drivers with a speeding ticket on record and minimum coverage.
| Company Name | Median annual rate | Median monthly rate |
|---|---|---|
| Geico | $445 | $37 |
| State Farm | $547 | $46 |
| Travelers | $554 | $46 |
| American Family | $579 | $48 |
| USAA* | $370 | $31 |
*USAA is only available to military, veterans and their families.
Cheap car insurance after an accident
Depending on your driving record, the most affordable car insurance company varies. The table below shows average auto insurance rates from the largest companies for drivers with a recent accident on their driving record.
Our analysis found that Geico has the lowest average rate for drivers with one at-fault accident, at $565 per year, or $47 per month.
Here are the cheapest auto insurance companies for drivers with an at-fault accident on record and minimum coverage.
| Company Name | Median annual rate | Median monthly rate |
|---|---|---|
| Geico | $565 | $47 |
| Travelers | $566 | $47 |
| State Farm | $610 | $51 |
| Progressive | $717 | $60 |
| USAA* | $460 | $38 |
*USAA is only available to military, veterans and their families.
Cheap car insurance after a DUI
A DUI on your driving record can greatly increase how much you pay for car insurance. According to our analysis, Progressive tops the list of cheap car insurance companies after a DUI, at $585 per year, or $49 per month, on average.
Here are the cheapest auto insurance companies for drivers with a recent DUI and minimum coverage.
| Company Name | Median annual rate | Median monthly rate |
|---|---|---|
| Progressive | $585 | $49 |
| American Family | $680 | $57 |
| Travelers | $693 | $58 |
| State Farm | $783 | $65 |
| USAA* | $582 | $48 |
*USAA is only available to military, veterans and their families.
Looking for the best car insurance deal? Try a smaller insurer. Drivers with violations like one at-fault accident or a recent DUI can often find the most affordable auto insurance rates with midsize insurers.
Cheap car insurance for drivers with poor credit
Many insurers also use credit-based insurance scores to help calculate car insurance rates. This can make it harder to get cheap vehicle insurance if you have poor credit.
California, Hawaii and Massachusetts don't allow insurers to use credit when determining car insurance rates.
Credit can have a shocking impact on auto insurance costs. Even for minimum coverage, drivers with poor credit can pay $277 more a year, on average, than those with good credit.
If you’re looking for affordable car insurance from a large company, Geico might be a good place to start if your credit is mixed. Based on our analysis of large insurers, the company has the lowest average rates for good drivers with poor credit, at $479 per year, or $40 per month.
Here are the cheapest auto insurance companies for drivers with poor credit and minimum coverage.
| Company Name | Median annual rate | Median monthly rate |
|---|---|---|
| Geico | $479 | $40 |
| Travelers | $647 | $54 |
| Progressive | $729 | $61 |
| American Family | $770 | $64 |
| USAA* | $509 | $42 |
*USAA is only available to military, veterans and their families.
Find the right car insurance at the right price
Just answer a few questions to compare personalized insurance matches.Cheap car insurance for young drivers
If you’re a young driver, you may have a hard time getting cheap car insurance. That’s because auto insurers view drivers without a recent driving history as riskier to insure. Same goes for drivers with a lapse in car insurance, immigrants and visitors to the U.S. If you live with your family, it may be cheapest to stay on their policy until your driving history is more robust.
Here are the cheapest auto insurance companies for 20-year-old drivers with minimum coverage.
| Company Name | Median annual rate | Median monthly rate |
|---|---|---|
| Geico | $675 | $56 |
| Travelers | $848 | $71 |
| Progressive | $959 | $80 |
| American Family | $1,004 | $84 |
| USAA* | $641 | $53 |
*USAA is only available to military, veterans and their families.
» MORE: Car insurance for new drivers
Cheap car insurance for senior drivers
Car insurance is relatively low when you first enter your golden years. According to our analysis, 60-year-old drivers with a good credit score and clean driving history enjoy some of the cheapest auto insurance rates. You can chalk this up to the years of driving experience 60-year-olds have under their belt. But as you reach your 70s, rates start to creep up.
Here are the cheapest average rates for 70-year-old drivers with minimum coverage.
| Company Name | Median annual rate | Median monthly rate |
|---|---|---|
| Geico | $386 | $32 |
| State Farm | $457 | $38 |
| Travelers | $460 | $38 |
| Progressive | $489 | $41 |
| USAA* | $298 | $25 |
*USAA is only available to military, veterans and their families.
» MORE: Car insurance for seniors
Cheap car insurance for full coverage
Full coverage car insurance is a combination of different coverage types. It typically includes collision and comprehensive insurance, uninsured and underinsured motorist protection and higher liability coverage limits than most states require. Because it offers drivers more financial protection on the road, full coverage is more expensive than minimum coverage. If you have a loan or lease, your lender likely requires you to have it.
Here are the cheapest auto insurance companies for full coverage.
| Company Name | Median annual rate | Median monthly rate |
|---|---|---|
| American Family | $1,281 | $107 |
| Geico | $1,303 | $109 |
| Travelers | $1,412 | $118 |
| Progressive | $1,742 | $145 |
| USAA* | $1,273 | $106 |
*USAA is only available to military, veterans and their families.
How to get cheap car insurance
If you’re wondering how to get cheap car insurance, here are six things you can try:
Compare quotes from multiple insurers. Use NerdWallet’s car insurance comparison tool to easily shop for cheap auto insurance online. You may find that you already have the best car insurance deal, but prices can change, so check roughly once a year.
Ask for discounts. You could save money from car insurance discounts you’re not taking advantage of. For example, maybe you work from home and don’t drive much. Mention that and you might get a low-mileage discount. Other common discounts are given for bundling car insurance with homeowners insurance, insuring multiple cars on the same policy and being a student.
Cash in on major life changes. Certain life events could translate to cheaper car insurance, so shop for quotes whenever something major changes in your life. For instance, many companies offer a lower rate for married couples or domestic partners. Or perhaps you moved to a suburb with lower accident and crime rates. Even if you moved to a more expensive area for car insurance, shopping around can help you get cheaper coverage.
Raise your deductible. The higher your car insurance deductible, the more you pay out of pocket before insurance pays for a covered claim. The upside is that by raising your deductible, you’ll usually be able to lower your premium. Just make sure you have enough money set aside to cover the higher deductible if you ever get in an accident.
Revisit quotes after your driving record improves. Shop for cheap auto insurance quotes online three to five years after any accidents, tickets or moving violations. They may have dropped off your driving record.
Reconsider the car you drive. The type of car you drive affects how much you pay for auto insurance. For example, new and expensive cars tend to cost more to insure than older or less expensive cars, among other factors. Check out NerdWallet’s analysis of the cheapest cars to insure to see if your vehicle made the list.
Risks of getting cheap auto insurance
Getting cheap car insurance usually means getting the barest coverage required by law in your state. But state requirements can be quite low and leave you financially vulnerable if you’re in a serious accident.
For example, in Florida, the minimum required property damage liability insurance is $10,000. This type of coverage is required in nearly every state and pays for damage you cause to other people’s stuff — like their car. But opting for low-cost liability insurance might not end up being the best option. If you live in Florida, have minimum coverage and total someone else’s vehicle in an accident, you’ll be on the hook to pay for any costs over $10,000.
Getting the cheapest car insurance possible might also mean missing out on optional coverage types that can help cover your own injuries or property damage — for example, when you’re injured in an accident or if your car is banged up after a bad storm or a hit and run. To find cheap car insurance with more coverage, check out NerdWallet’s list of cheap full coverage insurance.
Related Links
Shopping around for car insurance quotes is the best way to find cheap auto insurance. Having good credit and a clean driving record can also keep your rates low. And be sure to ask about discounts you might be missing from your policy.
According to a separate NerdWallet analysis of the cheapest cars to insure, the Subaru Outback and Crosstrek, Honda CR-V and Mazda CX-5 were the cheapest on average. When coming up with rates, insurance companies typically consider theft rates, repair costs and how likely a car’s occupants and others involved in a crash will be injured. If you’re in the market for a new ride and want to keep insurance rates low, avoid sports cars, high-end luxury cars and cars most likely to be stolen.
The best auto insurer will be the one that best suits your needs. And while price is important, the cheapest insurer isn't always the best. A top-notch insurer will provide a customer-first experience, whether you need help getting a quote or filing a claim. Check out NerdWallet’s best car insurance companies for a complete list.
Teens and young drivers have some of the highest car insurance rates, on average. As you gain experience, you are more likely to find a cheap auto insurance rate. According to a separate NerdWallet analysis for young drivers, rates drop significantly around age 25. Generally, rates continue to drop throughout adulthood, and then start to rise again at age 70, with a more dramatic increase around age 75.
While sticking with your state’s bare minimum requirements may win you the cheapest car insurance rates, you may find yourself in a financial pickle if you seriously injure someone else, damage their property or wreck your own car. To learn more, read NerdWallet’s explanation of how much car insurance you really need.
Shopping around for
car insurance quotes
is the best way to find cheap auto insurance. Having good credit and a clean driving record can also keep your rates low. And be sure to ask about discounts you might be missing from your policy.
According to a separate NerdWallet analysis of the
cheapest cars to insure
, the Subaru Outback and Crosstrek, Honda CR-V and Mazda CX-5 were the cheapest on average. When coming up with rates, insurance companies typically consider theft rates, repair costs and how likely a car’s occupants and others involved in a crash will be injured. If you’re in the market for a new ride and want to keep insurance rates low, avoid sports cars, high-end luxury cars and cars most likely to be stolen.
The best auto insurer will be the one that best suits your needs. And while price is important, the cheapest insurer isn't always the best. A top-notch insurer will provide a customer-first experience, whether you need help getting a quote or filing a claim. Check out NerdWallet’s
best car insurance companies
for a complete list.
Teens and young drivers have some of the highest car insurance rates, on average. As you gain experience, you are more likely to find a cheap auto insurance rate. According to a separate NerdWallet analysis for young drivers, rates drop significantly around age 25. Generally, rates continue to drop throughout adulthood, and then start to rise again at age 70, with a more dramatic increase around age 75.
While sticking with your state’s bare minimum requirements may win you the cheapest car insurance rates, you may find yourself in a financial pickle if you seriously injure someone else, damage their property or wreck your own car. To learn more, read NerdWallet’s explanation of
how much car insurance you really need
.
NerdWallet averaged rates based on public filings obtained by pricing analytics company Quadrant Information Services. We examined rates for 35-year-old men and women for all ZIP codes in all 50 states and Washington, D.C. Although it’s one of the largest insurers in the country, Liberty Mutual is not included in our rates analysis due to a lack of publicly available information. Poor credit rates from The Hanover were removed in both Connecticut and New York.
In our analysis, “good drivers” had no moving violations on record; a “good driving” discount was included for this profile. Our “good” and “poor” credit rates are based on credit score approximations and do not account for proprietary scoring criteria used by insurance providers. These are median rates, and your rate will vary based on your personal details, state and insurance provider.
Sample drivers had the minimum required coverage by law in each state. Some policies include additional coverage at the insurer’s discretion.
For our analysis of full coverage car insurance rates, sample drivers had the following coverage limits:
$100,000 bodily injury liability coverage per person.
$300,000 bodily injury liability coverage per crash.
$50,000 property damage liability coverage per crash.
$100,000 uninsured motorist bodily injury coverage per person.
$300,000 uninsured motorist bodily injury coverage per crash.
Collision coverage with $1,000 deductible.
Comprehensive coverage with $1,000 deductible.
We used a 2021 Toyota Camry LE for all drivers and assumed 12,000 annual miles driven.
We used the same assumptions for all other driver profiles, with the following exceptions:
We changed the credit tier from “good” to “poor” as reported to the insurer to see rates for drivers with poor credit.
For drivers with one at-fault crash, we added a single at-fault crash that happened six months ago, resulting in $10,000 in property damage and no bodily injury claim.
For drivers with a DUI, we added a single drunken driving violation that happened six months ago.
For drivers with a ticket, we added a single speeding violation for driving 16 mph over the speed limit.
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