Cheap Auto Insurance in 2024 (Save With These 10 Companies!)
Discover cheap auto insurance companies with Progressive, State Farm, and Allstate. Providing not only cheap auto insurance but also various discounts and incentives for safe driving. Delve into the winning strategies of these providers.
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Heidi Mertlich
Licensed Insurance Agent
Heidi works with top-rated life insurance carriers to bring her clients the highest quality protection at the most competitive prices. She founded NoPhysicalTermLife.com, specializing in life insurance that doesn’t require a medical exam. Heidi is a regular contributor to several insurance websites, including FinanceBuzz.com, Insurist.com, and Forbes. As a parent herself, she understands the ...
Licensed Insurance Agent
UPDATED: Mar 13, 2024
It’s all about you. We want to help you make the right coverage choices.
Advertiser Disclosure: We strive to help you make confident insurance decisions. Comparison shopping should be easy. We are not affiliated with any one insurance provider and cannot guarantee quotes from any single provider.
Our insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different insurance providers please enter your ZIP code above to use the free quote tool. The more quotes you compare, the more chances to save.
Editorial Guidelines: We are a free online resource for anyone interested in learning more about auto insurance. Our goal is to be an objective, third-party resource for everything auto insurance related. We update our site regularly, and all content is reviewed by auto insurance experts.
UPDATED: Mar 13, 2024
It’s all about you. We want to help you make the right coverage choices.
Advertiser Disclosure: We strive to help you make confident insurance decisions. Comparison shopping should be easy. We are not affiliated with any one insurance provider and cannot guarantee quotes from any single provider.
Our insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different insurance providers please enter your ZIP code above to use the free quote tool. The more quotes you compare, the more chances to save.
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11,413 reviewsCompany Facts
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Pros & Cons
11,413 reviewsProgressive, State Farm, and Allstate are companies that offer cheap auto insurance. Each offers unique benefits but Progressive stands out as the leader in providing budget-friendly rates and comprehensive coverage tailored to individual needs.
Our Top 10 Best Companies: Cheap Auto Insurance
| Company | Rank | See Pros/Cons | Monthly Rates | Multi-Policy | Best For |
|---|---|---|---|---|---|
 | #1 | Progressive | $150 | Up to 10% | Usage-Based Discounts |
 | #2 | State Farm | $140 | Up to 17% | Safe Driver Discounts |
 | #3 | Allstate | $160 | Up to 25% | Drivewise Program |
 | #4 | Geico | $130 | Up to 25% | Online Convenience |
 | #5 | Liberty Mutual | $170 | Up to 25% | Bundle and Save |
 | #6 | Esurance | $145 | Up to 10% | Online Efficiency |
 | #7 | Nationwide | $155 | Up to 20% | Multi-Policy Discounts |
 | #8 | Farmers | $150 | Up to 10% | Affinity Discounts |
 | #9 | Travelers | $140 | Up to 8% | IntelliDrive Program |
 | #10 | American Family | $160 | Up to 10% | Generational Discounts |
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#1 – Progressive: Usage-based Discounts
Progressive shines as the top choice, offering unmatched affordability and personalized coverage.Dani Best Licensed Insurance Producer
Pros
- Competitive rates ($150 monthly): Progressive offers competitive monthly rates for auto insurance.
- Usage-based discounts (up to 10%): Progressive excels in providing discounts based on usage patterns, promoting safe driving.
- Convenient online efficiency: Progressive offers an efficient online experience for policy management.
Cons
- Varied customer reviews: Customer experiences with Progressive can vary.
- Usage-based tracking concerns: Some individuals may have privacy concerns with usage-based tracking.
Read more: Progressive Auto Insurance Review
#2 – State Farm: Safe Driver Discounts
Pros
- Competitive rates ($140 monthly): State Farm offers competitive monthly rates for auto insurance.
- Safe driver discounts (up to 17%): State Farm provides substantial discounts for safe driving records.
- Multi-policy discounts available: State Farm offers discounts for customers bundling multiple policies.
Cons
- Rates may vary by location: Premium rates may vary based on the policyholder’s location.
- Mixed customer reviews: Customer experiences with State Farm can be mixed.
Read more: State Farm Auto Insurance Review
#3 – Allstate: Drivewise Program
Pros
- Competitive rates ($160 monthly): Allstate offers competitive monthly rates for auto insurance.
- Drivewise program (Up to 25%): Allstate provides discounts through its Drivewise program, encouraging safe driving behavior.
- Variety of discounts: Allstate offers a variety of discounts, providing potential savings.
Cons
- Higher premiums for some policies: While discounts are available, some policies may have higher premiums.
- Mixed customer reviews: Customer experiences with Allstate can vary.
Read more: Allstate Auto Insurance Review
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#4 – Geico: Online Convenience
Pros
- Competitive rates ($130 monthly): Geico offers competitive monthly rates for auto insurance.
- Online convenience: Geico excels in providing a convenient online experience for policy management.
- Discounts for online policies: Geico offers discounts for policies purchased online.
Cons
- Varied customer reviews: Customer experiences with Geico can vary.
- Limited local agent interaction: Geico’s model relies more on online services, which may not suit those preferring local agents.
Read more: Geico Choice Insurance Company Review
#5 – Liberty Mutual: Bundle and Save
Pros
- Competitive rates ($170 monthly): Liberty Mutual offers competitive monthly rates for auto insurance.
- Bundle and save (Up to 25%): Liberty Mutual provides discounts for bundling home and auto policies.
- Varied coverage options: Liberty Mutual offers a range of coverage options.
Cons
- Varied premium rates: Premium rates may vary based on individual circumstances.
- Mixed customer reviews: Customer experiences with Liberty Mutual can vary.
Read more: Liberty Auto Insurance Review
#6 – Esurance: Online Efficiency
Pros
- Competitive rates ($145 monthly): Esurance offers competitive monthly rates for auto insurance.
- Online efficiency: Esurance is known for its efficient online platform, making policy management convenient.
- Discounts for online policies (Up to 10%): Esurance provides discounts for policies purchased online.
Cons
- Varied customer reviews: Customer experiences with Esurance can vary.
- Limited local agent interaction: Esurance primarily operates online, which may not suit individuals preferring local agents.
Read more: Esurance Auto Insurance Review
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#7 – Nationwide: Multi-policy Discounts
Pros
- Competitive rates ($155 monthly): Nationwide offers competitive monthly rates for auto insurance.
- Multi-policy discounts (Up to 20%): Nationwide provides discounts for customers bundling multiple policies.
- Safe driving discounts: Nationwide offers additional discounts for safe driving.
Cons
- Rates may vary by location: Premium rates may vary based on the policyholder’s location.
- Mixed customer reviews: Customer experiences with Nationwide can be mixed.
Read more: Nationwide General Insurance Company: Customer Ratings & Reviews
#8 – Farmers: Affinity Discounts
Pros
- Competitive rates ($150 monthly): Farmers offers competitive monthly rates for auto insurance.
- Affinity discounts (Up to 10%): Farmers provides discounts for various affinity groups.
- Variety of coverage options: Farmers offers a range of coverage options.
Cons
- Varied premium rates: Premium rates may vary based on individual circumstances.
- Mixed customer reviews: Customer experiences with Farmers can vary.
Read more: Farmers Auto Insurance Review
#9 – Travelers: Intellidrive Program
Pros
- Competitive rates ($140 monthly): Travelers offers competitive monthly rates for auto insurance.
- Intellidrive program (Up to 8%): Travelers provides discounts through its IntelliDrive program, encouraging safe driving behavior.
- Personalized savings: Travelers offers personalized savings based on individual driving habits.
Cons
- Varied customer reviews: Customer experiences with Travelers can vary.
- Limited local agent interaction: Travelers may be more suitable for those comfortable with online services.
Read more: Travelers Auto Insurance Review
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#10 – American Family: Generational Discounts
Pros
- Competitive rates ($160 monthly): American Family offers competitive monthly rates for auto insurance.
- Generational discounts (Up to 10%): American Family provides discounts for different generations within a family.
- Variety of coverage options: American Family offers a range of coverage options.
Cons
- Varied premium rates: Premium rates may vary based on individual circumstances.
- Mixed customer reviews: Customer experiences with American Family can vary.
Read more: American Family Auto Insurance Review
Auto Insurance Rates: Minimum vs. Full Coverage
Understanding auto insurance coverage rates is crucial. The rates for both minimum coverage and full coverage can significantly impact your budget and level of protection. Let’s delve into the average monthly rates from top providers.
Average Monthly Auto Insurance From Top Providers
| Insurance Company | Minimum Coverage | Full Coverage |
|---|---|---|
| Progressive | $150 | $150 |
| State Farm | $140 | $160 |
| Allstate | $160 | $170 |
| Geico | $130 | $140 |
| Liberty Mutual | $170 | $180 |
| Esurance | $145 | $155 |
| Nationwide | $155 | $165 |
| Farmers | $150 | $170 |
| Travelers | $140 | $160 |
| American Family | $160 | $165 |
What is cheap auto insurance?
Cheap auto insurance is simply affordable coverage on your car or automobile. Reasonable insurance rates are in demand. Several companies are heeding the voices of consumers and lowering their rates to accommodate this demand.
What also makes auto insurance cheap is its standing in the marketplace. You have to beware of the top 10 cheapest car insurance companies who offer lowball rates to get customers in the door, only to send out a notice that states, after careful review, there was an error in your rating. Before you know it, your rate is jacked up. At the request of subscribers, insurance regulators are checking into this practice.
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How do I qualify for cheap auto insurance?
There are no special qualifications for cheap auto insurance, as everyone is supposed to be rated with rating tables used by the cheapest auto insurance companies. The question is: does each insurance company use the tables the same way, by measuring each factor evenly? The answer is a resounding no!
The best cheap auto insurance in the US is going to be readily available to those with the most appealing credit, driving history, zip code, and other contributing factors. The best the rest can do is come as close to an appealing level on the standard bar as possible. There are other ways however to improve your standing without having a 700 credit score or a 90210 zip code.
Read more: Find and Compare Auto Insurance Quotes: Maximize Your Savings
How to Find Cheaper Auto Insurance
It is not always easy to know how to lower your auto insurance premiums if you are already paying high numbers. One way to find a cheaper policy is to get a referral from a friend or relative. The problem with that route is determining whether it will be cheaper for you. Further research may be necessary. Online sources are available to help narrow down options that do meet your specific needs.
One key to finding cheaper auto insurance is not to focus on the cheapest carrier but on a carrier that has a good insurance company rating by Standard and Poor’s or some other insurance company rater. Then research their plan options, inclusions, exclusions, and possible riders.
Once a cheaper policy is found, the process of transferring your coverage to another is simple, although a 30-day written notice may be necessary. Meanwhile, you may want to establish the other policy to avoid a lapse in coverage. You should receive a refund on any unused part of the former policy within 30 to 60 days.
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How to Save on Cheap Auto Insurance
Seven suggestions on how to save on auto insurance include:
- Take a defensive driving class
- Pay the annual premium in full as opposed to monthly or quarterly
- Combine homeowners, auto, boat, and other policies that make sense, under an umbrella policy
- Change the deductible
- Ask for job-related discounts
- Report low mileage
- Mention AAA membership or other membership for club, association, or organization discount
These are some of the easiest ways to create cheap car insurance if your circumstances call for some creativity. Certain categories of drivers will naturally pay more than the average driver. Teen drivers and drivers under 25 are in these high-risk categories. Creativity may be necessary to make car insurance affordable.
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What is covered in a cheap auto insurance policy?
Another way to create a cheap auto insurance policy is to eliminate unnecessary coverage. Cars that are not financed through a lender may not need cheap full coverage insurance. Simple liability may be enough.
Is car insurance mandatory in the USA? Collision and comprehensive may be mandatory if the car is financed. In this case, opting for a higher deductible could be the solution.
Every state requires that each driver carry a minimum amount of coverage. That coverage will average:
- Bodily Injury Liability between $20,000 and $45,000
- Personal Injury Protection between $50,000 and $75,000
- Collision in the range of $15,000 and $45,000
- Comprehensive is based on the value of the car
These rates can be increased to accommodate the antique car, the race car, or the luxury vehicle.
Read more:
- Best Auto Insurance for Luxury Cars
- Cheapest Auto Insurance by Vehicle: What car has the cheapest Auto Insurance?
Frequently Asked Questions
Is it possible to find cheap auto insurance?
Yes, it is possible to find cheap auto insurance. The cost of auto insurance can vary depending on several factors, including your driving record, the type of car you drive, your location, your age, and the coverage options you choose. By shopping around, comparing quotes from different insurance providers, and considering various auto insurance discounts and coverage options, you can find affordable auto insurance that fits your needs.
How can I lower my car insurance in the USA?
There are several strategies you can employ to lower your auto insurance premiums. Here are a few tips:
- Maintain a clean driving record: Avoid traffic violations and accidents, as a clean driving record can help lower your premiums.
- Choose a higher deductible: Increasing your deductible—the amount you pay out of pocket before insurance kicks in—can lower your premium.
- Take advantage of discounts: The top auto insurance providers offer discounts for factors such as safe driving, multiple policies, good student grades, or vehicle safety features. Inquire about the available discounts and see if you qualify.
- Bundle your policies: Consider bundling your auto insurance with other insurance policies, such as homeowners or renters insurance, as this may lead to discounts.
- Shop around: Compare quotes from multiple insurance providers to find the best rate for the coverage you need.
What coverage options should I consider to keep my auto insurance costs low?
When looking to keep your auto insurance costs low, consider the following coverage options:
- Liability coverage: This is typically the most basic and affordable coverage required by law in most states. It covers injuries and property damage you may cause to others in an accident.
- Opt for a higher deductible: Choosing a higher deductible can help lower your premiums. However, ensure that you can afford to pay the deductible amount if you need to make a claim.
- Evaluate the need for comprehensive and collision coverage: If you have an older car that has significantly depreciated in value, you may consider skipping comprehensive and collision coverage, as the cost of the coverage may exceed the value of your vehicle.
Can my credit score impact my auto insurance premiums?
Yes, in many states, insurance companies may consider your credit score when determining your auto insurance premiums. Studies have shown a correlation between credit scores and the likelihood of filing insurance claims. Maintaining good credit can help you secure lower insurance premiums. It’s a good idea to review your credit report regularly and address any errors or negative factors that may be impacting your score.
What is the least amount of car insurance you need?
The cheapest auto insurance is liability, however, it does not always provide adequate coverage.
While finding affordable auto insurance is important, it’s equally crucial to ensure that the policy provides adequate coverage for your needs.
Cheaper policies may have lower coverage limits, fewer benefits, or exclusions that could leave you financially vulnerable in the event of an accident. Strike a balance between affordability and appropriate coverage. Carefully review the policy details, coverage limits, deductibles, and exclusions to ensure it meets your needs and provides sufficient protection.
How can I get multiple auto insurance quotes to compare prices?
There are several ways to get multiple auto insurance quotes to compare prices:
- Online comparison websites: You can find cheap auto insurance online by utilizing online platforms that allow you to enter your information once and receive quotes from multiple insurance providers.
- Directly contact insurance companies: Reach out to insurance companies individually and request quotes based on your specific needs and circumstances.
- Consult an independent insurance agent: Independent agents work with multiple insurance companies and can provide you with quotes from different providers, helping you compare prices and coverage options.
Compare Insurance Providers Rates to Save Up to 75%
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Heidi Mertlich
Licensed Insurance Agent
Heidi works with top-rated life insurance carriers to bring her clients the highest quality protection at the most competitive prices. She founded NoPhysicalTermLife.com, specializing in life insurance that doesn’t require a medical exam. Heidi is a regular contributor to several insurance websites, including FinanceBuzz.com, Insurist.com, and Forbes. As a parent herself, she understands the ...
Licensed Insurance Agent
Editorial Guidelines: We are a free online resource for anyone interested in learning more about auto insurance. Our goal is to be an objective, third-party resource for everything auto insurance related. We update our site regularly, and all content is reviewed by auto insurance experts.
