What Are the Cheapest Auto Insurance Companies?
Jill from Monroe, Louisiana Asks – “What are the cheapest car insurance companies out there?”
Answer:
While the lowest premium price is the most crucial element in finding the cheap car insurance that will work best for you, there are still a lot of other elements that you should consider when coming to a decision. Discounts on your policy should also be looked at. People who want to get the cheapest car insurance should be aware of vehicle discounts, driver discounts, and price, but also aware of the vehicle coverage and policy offered. Continue reading below to see our list of the cheapest auto insurance companies.
Allstate
Allstate is well known in the cheap car insurance market. It tops the list. It has rock-bottom prices in many big areas. You could save hundreds of dollars annually with Allstate, and that is not just marketing talk. You might have heard that line on an Allstate commercial, but that does not mean that it is not true. In addition to being the cheapest on price, Allstate also offers every possible coverage option imaginable. Even though Allstate is not the best company for discounts, it still has plenty of them. Still, discounts are not as important when the annual price is so low. Furthermore, people expect easy policy management and a clean, clear online interface. The site has excellent learning materials, and all of the knowledge offered on the site can help drivers save money – definitely after an accident. One more reason to choose Allstate is that the company is extremely financially stable. Not only does Allstate have good financial health, but it also is more than able to pay out on claims in a timely fashion.
Progressive
We have all seen those Progressive commercials. Who can forget them? They appeal to a young audience, an audience that does not have that much money to spend on car insurance. Progressive is a close second to Allstate as far as how cheap their car insurance is. In a number of areas, Progressive was a lot less pricey than Allstate. Progressive quotes were often over $500 cheaper annually, compared to other big auto insurers in big cities. Those people who put a high value on vehicle discounts and driver discounts will certainly want to choose Progressive because they are industry leaders in both areas. Progressive also has excellent policy and claims management, and top-notch policy coverage. The one category where the company falls just a little short is vehicle coverage, but it is extremely hard to find any big issues.
Farmers Insurance
Even though Farmers Insurance did have less expensive price quotes than the aforementioned companies in some areas, it did have quotes that were higher in most of the locations tested. Farmers Insurance, for instance, had a very high price quote in the Chicago area compared to GEICO, Allstate, and Progressive, but they were nearly the same in some cities located in California. Farmers Insurance is one of the top insurers for inexpensive car insurance their quotes are on the low end of the price range, and they offer nearly every vehicle-discount you can get. Farmers Insurance is somewhat lacking in driver discounts, but they make up for it with excellent policy management and claims processing. If Farmers Insurance did offer more discounts and had a very consistent car insurance quote process, it is certainly possible that they could go toe-to-toe the cheap policies offered by the aforementioned companies, but Farmers Insurance is a bit behind for now.
Nationwide Insurance
For more than 80 years Nationwide Insurance has been there helping drivers get the cheapest car insurance. It is one of the biggest and strongest car insurance companies. You really cannot say that about most cheap car insurance companies. Nationwide Insurance offers fast, custom quotes. Whet it is over the phone, online, or in person, they will quickly devise a car insurance quote that meets your needs. This company also offers flexible billing options. You can pay by the month, quarter, or throughout the year. You can pay over the phone, online, or by mail. There are a lot of free extras at Nationwide Insurance. For example, there is a 24-hour claims service, an 800 number where you can talk to a real person, and a special feature that will let you keep track of your covered auto repair over the Internet.
Esurance
Esurance is the next best thing to Nationwide Insurance. Allstate owns Esurance. It is an extremely easy website to use, and the typography, layout, and color scheme make it easy for even the most novice Internet user to figure out how to sign up for car insurance online. Esurance offers car, motorcycle, renters, and homeowners insurance. It offers fast service, fast claims processing, and guaranteed financial strength. Esurance is the best option for people who just do not want the hassle of other traditional car insurance companies. It is easier to use than most other car companies’ websites.
GEICO
GEICO is famous for its slogan, “15 minutes could save you 15% or more on car insurance.” There’s a good reason for GEICO’s slogan! They’re one of the country’s cheapest car insurance companies. If you’re shopping for cheap car insurance, then GEICO is one of your best options. GEICO is a nationwide car insurance company. They’re available everywhere in the United States. Plus, they offer a diverse selection of auto insurance products. GEICO also makes cheap car insurance even cheaper by offering discounts for drivers over 50, drivers in the military, students, and federal employees. The reason GEICO offers cheaper rates for federal employees is simple: GEICO stands for “Government Employees Insurance Company.” The company originally targeted car insurance exclusively for employees of the US government. Today, discounts are available to active or retired federal government employees.
USAA
USAA has always been one of the cheapest auto insurance providers in the United States. In fact, USAA offers some of the best banking and insurance products in the country. There’s just one big catch: you need a close family member who is active or retired US military. If you’re active or retired US military, or if a sibling, parent, or grandparent is or was in the military, then you may qualify for USAA. USAA offers particularly competitive prices on cheap car insurance plans. The basic liability plans from USAA, for example, include features like accident forgiveness, rental reimbursement, and global protection. Further discounts are available for safe drivers (you need to maintain a good driving record for 5 years), defensive drivers (drivers who have taken a course), and good students, among others.
Allied
Allied is a popular nationwide car insurance company that offers a variety of insurance products. You can get auto insurance through Allied. You can also get home insurance, business insurance, farm/ranch insurance, and more. Allied is known for offering customized insurance coverage at an affordable price. You can put together a package with Allied insurance, then pay for exactly what you’re using. A number of Allied discounts help you pay even cheaper prices for car insurance. You get a discount when buying multiple policies through Allied, for example. There are also multi-vehicle discounts, new vehicle discounts, accident-free discounts, good student discounts, and more. Another advantage of getting cheap car insurance with Allied is the 12-month rate lock. If you insure both your car and home with Allied, then your rate is locked for 12 months. Most insurance companies only lock your rate for 6 months.
Erie
Erie is particularly common in the Midwest and the Northeast. It’s not available in all 50 states. In states where Erie is available, however, it’s among the cheapest auto insurance providers in the region. Erie offers cheap rates on car insurance along with easy online quotes. You can customize your policy with a number of bonus options. If you want windshield repair but not personal item coverage, for example, then you can do that. You can get features similar to comprehensive coverage but without paying the full price for comprehensive coverage. The customizability is what makes Erie a particularly good option among cheap car insurance providers. Users can also get a multi-policy discount of 14% to 30%, depending on the number of insurance products you bundle together.
American Family
American Family is another major American insurance company known for its cheap car insurance prices. However, like Erie, they’re not available in all 50 states. American Family is available in about half of the country. Unlike Erie, which focuses on the Midwest, American Family doesn’t specialize in any specific geographic area. In any case, American Family provides affordable rates on basic liability coverage, collision coverage, and comprehensive coverage. Insurance plans can also come with gap coverage, underinsured motorist protection, rental reimbursement coverage, uninsured motorist coverage, emergency road service, and other features.
How To Get Quotes From Different Auto Insurance Companies
Insurance Panda offers auto insurance quotes from many different auto insurance companies. To see how much your premiums with each one will cost, fill out our short quote form at the top of this page. After a few simple steps, you will be comparing insurance rates from the cheapest auto insurance providers in the United States.
