If you’re looking for an auto insurance policy that provides the coverage you need at the right price, you might benefit from learning about the least expensive auto insurance providers in the United States. Several companies offer affordable auto insurance, so it’s best to keep your eye out for a deal that fits within your budget. Here we provide a list of companies with low-cost insurance and explain how to find the least expensive auto insurance plan.
Least Expensive Auto Insurance Companies
Finding an auto insurance policy that provides full coverage at an affordable price can be a challenge. However, several companies offer inexpensive policies for full or minimum coverage. Here are a few of the least expensive auto insurance companies:
State Farm
With an average premium of $1081, this is the cheapest insurance across the board for drivers. State Farm is the largest insurance company in the nation, so you can most likely find an agent in your area to help you with your insurance needs. There are over ten discounts provided by this company, from a decreased price for insuring multiple cars to discounts for people who take a driver safety course. Young drivers and students can benefit from a State Farm auto insurance policy.
USAA
USAA is the cheapest insurance for drivers who are current or former military members, or who are related to military members. USAA is only available to people who meet these criteria. This is a great choice for people who have served or are active in the military. The average price for these drivers is just $943 per year.
Geico
Another affordable insurance company is Geico. This company charges drivers an average of $1116 per year for a full coverage auto insurance policy. There are Geico policies available for all kinds of drivers, so you can find a policy that works for you and your budget. This company doesn’t have eligibility requirements like USAA, so more people can benefit from cheap insurance from Geico.
Allstate
Allstate offers a wide range of auto insurance coverage options, so you can choose a policy that suits you. The company offers insurance across the nation, you can access it from wherever you live. The monthly rate is, on average, $168, but Allstate increases the price for drivers with citations or with little driving experiene.
Nationwide
Averaging $1,245 per year for standard drivers, Nationwide is a mid-range auto insurance provider. While Nationwide offers common insurance discounts, there is no new car or better car replacement coverage available to drivers. However, the company does provide the option to bundle your insurance policies to save money in the long term.
Progressive
Progressive is an auto insurance company that has affordable plans for high-risk drivers. Often, drivers who are at a higher risk of getting into a collision pay more for auto coverage. However, Progressive charges drivers $1397 per year, which comes to $116 per month. This is a good company for young drivers or people with a history of citations, DUIs, or collisions.
Farmers Auto Insurance
Another reliable, affordable insurance company is Farmers Auto Insurance. This company charges drivers a mid-range rate for full or minimum coverage, at an average of $1,492 per year. Farmers Auto Insurance is a good choice for people with previous driving violations, but it can be more expensive for young drivers. However, there are many available discounts and most of the insurance policies are highly customizable to the drivers’ needs.
Liberty Mutual
With an average monthly rate of $137, Liberty Mutual is a fairly inexpensive auto insurance company. With this company, you can agree to a twelve-month contract to ensure you keep the same low rate all year long. Liberty Mutual also offers several discounts for drivers, including accident-free and violation-free discounts, and a reduced cost for drivers with an environmentally friendly vehicle.
How To Find the Least Expensive Auto Insurance
If you want to find an auto insurance policy that works for a budget, you can implement a few different strategies during your search to find minimum monthly premiums. Here are a few ways you can make auto insurance as affordable as possible:
Increase the Deductible
When you’re looking for an auto insurance plan, consider plans with higher deductibles. The deductible is the amount you pay out of pocket if a collision or break-down occurs. If you have a higher deductible, you will most likely have a lower monthly payment. However, it’s important to choose a deductible you can afford, in the event of a collision or other type of vehicular accident. If you’re a safe driver with a good driving record, a high deductible may benefit you.
Get Multiple Quotes
Another way to find the most affordable insurance plan is by getting multiple quotes. When you begin looking for auto insurance, it’s important to ask around at multiple companies to compare deals. You might find a company that has a lower monthly cost, but less coverage, and vice versa. Comparing quotes can help you choose the coverage and the price that best suits you. By getting multiple quotes, you can also negotiate with insurance companies to see if they’ll match the price of another insurer.
Apply Discounts
One of the simplest ways to find affordable insurance is to apply as many discounts as possible. Most auto insurance providers offer a variety of discounts. Consider asking a company what discounts they have available before you agree on a final price. This can help you get lower monthly and yearly bills for your auto insurance.
Whether you’re looking for full or minimum coverage, have a new or old car, or have driving citations, you can find an inexpensive auto insurance policy. Multiple companies offer plans that work with different types of drivers. No matter what state you live in, you can find a plan that works.
At FIXD, our mission is to make car ownership as simple, easy, and affordable as possible. Our research team utilizes the latest automotive data and insights to create tools and resources that help drivers get peace of mind and save money over the life of their car.
