Cheap Car Insurance Companies in February 2023
The companies in our list of Cheap Car Insurance Companies of 2023 with the lowest average rates offer cheap policies that may make sense for a wide range of drivers. Based on our research, USAA, Geico, and State Farm have some of the cheapest average annual rates.
They also have policies that fit different needs, such as for a teenager or a driver with a mark on their driving record, like a speeding ticket or a traffic accident.
Our rating gives you information that can help you find the most affordable car insurance for you. Remember that the best way to find cheap car insurance that fits your needs is to shop around and compare quotes.
Which Car Insurance Company Is Cheapest for You?
USAA, which only sells car insurance to members of the U.S. military, pre-commissioned officers, veterans, and their spouses and children, had the cheapest insurance in our study of cheap car insurance companies.
In addition to having the lowest average annual rates, USAA also has the lowest rates for both low-mileage and high-mileage drivers, as well as in most of the other categories we looked at.
Geico, which came in second in our survey, and State Farm, which came in third, may have the cheapest car insurance for drivers who are not in the U.S. military.
Except for USAA, Geico has the cheapest car insurance for drivers with clean records, those who only want the minimum coverage, and those who drive a lot. The company also has the most affordable average rates for teenage male drivers.
State Farm has the cheapest car insurance for seniors, teenage girls, and people who don’t drive a lot. State Farm also has the most affordable rates for full coverage for drivers. State Farm also has the cheapest rates on average for drivers who have a ticket for speeding, an accident, or a DUI on their record.
Our analysis of rates is based on information that car insurance companies have filed with state regulators and that is open to the public. Most of the biggest national insurance companies’ rates are included.
It’s important for readers to remember that insurance rates are very different for each person and depend on a number of things. Among other things, a person’s age, the type of car they drive, their credit history and driving record, and where they live all play a big role in how much they will pay for car insurance.
In short, your premiums won’t be the same as the ones in our rating, which are only there to help you compare. At the end of this article, you can find a fuller explanation of how we do things.
Geico is a cheap car insurance company for good drivers.
When compared to the national average, drivers who choose Geico and have a clean driving record are likely to save the most, unless they can join USAA, which requires a connection to the military.
The average annual rate for good drivers at Geico is $1,250, which is $297 less than the average rate across the country. This is a savings of just over 19%.
No matter which insurance company you choose, how much you pay for car insurance will depend a lot on how well you drive. Accidents and traffic violations, like getting a ticket for speeding, can have a big effect on insurance rates.
On the other hand, if you have a clean driving record, your rates may go down and you may even be able to get a discount on your premium.
Geico and State Farm offer cheap car insurance for teens.
Geico and State Farm have the cheapest sample rates when it comes to insuring teen drivers, which is the most expensive group to insure on average. Geico’s rates for 17-year-old male drivers are among the lowest we found, and State Farm’s rates for 17-year-old female drivers are the lowest on average. USAA has the lowest rates for both teenage boys and girls who are in the military.
We found that Geico’s average annual rate for teenage male drivers is $3,742, which is the lowest. That’s $2,008 less than the average across the country, which is a savings of almost 35%. The average national rate for teenage female drivers is $1,586 more than what the company charges, which is $3,478.
State Farm has the best rate for teenage female drivers at $3,280, which is $1,784 less than the national average and saves you 35%. Male teen drivers can also get cheap car insurance from this company. Their annual rate is $4,019, which is $1,731 less than the national average.
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