Where is Car Insurance Cheapest? A Comprehensive Guide

Finding affordable car insurance doesn't have to mean settling for big companies. Learn where you can find cheap car insurance rates and how you can save even more.

Where is Car Insurance Cheapest? A Comprehensive Guide

Finding affordable car insurance doesn't have to mean settling for the big insurance companies. Central Insurance, MMG and Secura, the smallest insurers offering coverage in several states, can offer even cheaper car insurance rates than Geico. Our research found that Geico has the lowest average rate for drivers with an at-fault accident. American Family is the cheapest, on average, for drivers with DUI. If you're looking for a large company with affordable car insurance, Geico might be a good place to start.

According to our analysis of large insurers, the company has the lowest average rates for good drivers with bad credit. Of the largest insurance companies in the country, Geico has the cheapest car insurance rates, on average. However, rates vary greatly from person to person based on factors such as gender, the car you are driving, and your location. To get the best price, compare the car insurance rates of at least three insurers once a year. To find the cheapest price, NerdWallet averaged fees based on public statements obtained by price analysis firm Quadrant Information Services.

We examined rates for men and women in their 40s for all zip codes in all 50 states and Washington, D. C. Liberty Mutual is not included in our rate analysis due to a lack of publicly available information. Where you live matters when it comes to car insurance rates. The study's true cost ranking is derived from the average total percentage of income spent on auto insurance, based on the median income in each state, not just the average amount spent on premiums.

Since average income varies by tens of thousands of dollars between states, this ranking aims to be a better reflection of the burden on overall driver budgets. Below are the 10 cheapest states for annual auto insurance rates, with ratings based on their actual cost. The rating also reflects the many factors that contribute to car insurance rates in each state, including your age, the car you drive, your driving history, your credit score (in most states), the length of your trip, and even local weather conditions. Other factors are at play as well, to varying degrees. Since some of these costs are out of your control, the best way to keep rates low is to maintain good driving habits and keep your credit score as high as possible - especially in most states where it's used to determine your car insurance rate - according to Foster. It's also worth considering a new policy from time to time.

Drivers often forget to regularly look for new rates - especially if their credit score has improved - according to Foster. But insurance companies aren't necessarily going to adjust their rates before the renewal date, so it's up to drivers to keep up with their own policy. Full-coverage auto insurance offers the most financial protection but if you're looking for the cheapest possible insurance you can buy the cheapest state minimum insurance policy available to you. You should look for the best rates for a family policy with a student as rates vary from car insurance company to car. For example, if you have an older car with a depreciated value having full coverage may not provide you with much benefit. The cheapest car insurance company and quote will depend on your location, driving history, type of policy and many other factors.

MoneyGeek Rated Auto Insurers in Every State Based on a Combination of Affordability, Customer Satisfaction and Claims Experience. If you're a senior looking for affordable car insurance look to your states for the cheapest options. A policy that only covers your state's minimum car insurance requirements is likely to be the lowest-cost option available to you. Even if you don't want to change companies it's smart to make sure you get all available car insurance discounts. There are a variety of discount offers you can take advantage of to further reduce the cost of your insurance premium.

If you can't pay in full see if you can get a discount by setting up electronic payment transfers for your monthly insurance bill. For nearly two decades it has helped consumers understand how laws data trends and insurance coverage affect them. Several other insurers such as GEICO American Family and Erie could also be affordable options depending on where you live. The type of car insurance you should buy depends on your state's requirements and your specific situation. Keep in mind that you must be a military veteran or member of the military family to be eligible for USAA insurance. Contact your insurance company as soon as possible to inform them of your new address and moving date.

Progressive also offers discounts for combining home and auto insurance or owning a home which means homeowners have additional opportunities to save.

Olivia Davis
Olivia Davis

Hipster-friendly travel trailblazer. Incurable food expert. Incurable analyst. Unapologetic zombie nerd. Certified travel nerd. Total tv expert.

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