Top Auto Insurance Provider for Millennials [2024]

Identifying some of the best auto insurance companies for millennials doesn’t have to be challenging. Unlike previous generations, millennials already know what they want, and before making decisions, they research the market and eliminate insurance companies that don’t meet their criteria.

So once young consumers are ready to select an auto insurance company, they search for specific benefits, such as the best auto insurance rates or excellent customer service.

If you’re looking for an auto insurance company dedicated to the needs and interests of its millennial audience, we can help. Keep reading and learn which top auto insurance discounts companies millennials prefer and why.

Are you researching the top auto insurance providers for millennial drivers? Enter your ZIP code and get a free auto insurance quote now.

What do millennials consider to be good car insurance?

Millennials are now the largest generation group in the United States, with a population of over 70 million. As a result, many auto insurance companies are focusing on ways to appeal to this rapidly-growing demographic.

In the eyes of a millennial, what separates good insurance companies from their below-average counterparts? According to a study conducted by Liberty Mutual, some of the main characteristics millennials are in search of when it comes to “good car insurance” is:

• A dedicated insurance agent that can help them better understand auto insurance
• Comprehensive auto insurance coverage at a great rate
• A positive online reputation and reviews

Below are some of the best auto insurance companies for millennials searching for killer discounts and other exciting auto insurance perks.

Read more: Top Auto Insurance Discounts: What You Need to Know

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Allstate Insurance Company

Are you in good hands? That’s Allstate’s motto, and it speaks to the many young adults still on the hunt for the best auto insurance for millennials in this market. With Allstate, millennials can enjoy affordable rates, and other great benefits, such as:

• Drivewise^® From Allstate provides cashback rewards for every six months of safe driving under your Allstate plan.
• Allstate’s Safe Driving Bonus^® program rewards safe drivers enrolled with Allstate auto insurance, allowing safe drivers to save up to 40 percent or more.
• Accident Forgiveness starts from the moment you sign up with Allstate.

With several programs designed to reward its customers for doing the right thing while driving on the road, Allstate makes it easier for millennials to focus on just driving.  

Auto Claims Made Easy for Millennials

Another reason millennials love Allstate is because of its simple claims process. Allstate has a simple online procedure for filing claims that customers can complete in 5 simple steps:

1. File your claim on the Allstate website.
2. The company will begin to assess the damage and provide an estimate of the costs (This step may require you to submit photos as proof of your vehicle’s damages).
3. Review the costs and details associated with your estimate
4. Have your vehicle repaired at the auto repair shop of your choice
5. Please wait to receive your claim settlement (The check may come in the mail, or it may be sent directly to the shop that will perform the repairs).

Even though Allstate has designed a simple online claims filing process for its customers, millennials believe the amount of time it takes for claims to be approved or denied can use some improvement.  

In several online reviews left on the company’s Better Business Bureau (BBB) profile, customers have attributed their negative experiences with Allstate to lengthy auto insurance claim response times.

Read more: Allstate Auto Insurance Review

Amica Insurance

One thing millennials love almost as much as getting a good deal on car insurance is having the feeling of stability. This is part of why Amica auto insurance is one of the best auto insurance companies for millennials.

With 1 in 3 Amica customers having been insured with the company for over 20 years, no wonder Amica is a popular auto insurance option.

Millennials Get Great Discounts

Amica can satisfy even the most frugal millennial driver when it comes to discounts. The company offers customers two major ways to save on auto insurance:

1. Based on driving behavior

• Joining the Defensive Driver Program and taking an approved driver safety course can grant you a discount on your rate.
• If you’ve remained accident-free for at least three years, Amica may grant you a good driver’s discount on your account.

2. Based on payment behavior

Discounts are also available when you either:

• Pay off a balance in full
• Enroll in autopay
• Go paperless

Most of the best auto insurance companies for millennials will typically have some discount program available for their customers.

Millennials Get Award-Winning Service

One of the biggest reasons Amica is one of the best auto insurance companies for millennials is due to the stellar reputation of its services.  Below are some of several notable awards Amica has received:

• Forbes has named it one of America’s Best Insurance Companies of 2022.
• The J.D. Power 2021 U.S. Home Insurance Study℠ has listed Amica as the highest in Customer Satisfaction for Homeowners Insurance”. 
• U.S. News & World Report has named Amica as “Best Homeowners Insurance Company of 2020.
• Amica has been named one of the Best Places to Work in 2021.

Between its great discounts and reputable awards, no wonder Amica is a millennial favorite. 

Geico

Due to its affordability, millennials have crowned Geico as one of the best auto insurance companies. If the slogan, “Save you 15% or more,” or the charming gecko mascot doesn’t entice you to consider this company, maybe some of its other benefits will.

Many Millennials decide to select Geico as their auto insurance provider because the company offers benefits, such as:

•  24/7 roadside assistance
• Around-the-clock support from live, experienced agents
• Accident Forgiveness (may vary per insurance plan)
• Special discounts for being affiliated with select organizations
• First-in-class customer service

One of the most attractive benefits that Geico customers can’t stop raving about is the excellent service received from its dedicated agents.

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Geico Receives Stellar Ratings

According to Forbes, over 97 percent of millennials rely on online reviews and ratings to make more informed purchasing decisions. With so many millennials putting their trust in search engines to guide them through their buyer’s journey, Geico’s positive ratings have helped catapult the auto insurance giant into the spotlight as one of the best car insurance companies for millennials. 

Kanbay Research Institute rated Geico as the number one most desired insurer. This is due to the company’s strong emphasis on customer satisfaction and its thorough staff training and development.

The Customer Respect Group annually surveys consumers for information on which top 100 companies treat their online customers the best.

When customers were asked to rate the intuitiveness of Geico’s website, in addition to how well it can be trusted with consumer data and communicate with its customers, the company received high rankings. 

Positive reviews echoed these sentiments as consumers sounded off with feedback on their website:

• “They always have excellent customer service, the best rate possible, and quick responses.”
• “Geico has always been available and easy to use when needed.”
• “The customer service representatives are outstanding.”

Geico is also consistently one of the cheapest insurance companies.

Lemonade

Lemonade is a new insurance company that recently launched its new auto insurance, Lemonade Car, which is slowly rolling out across various states in the U.S.

Lemonade Car is now available in Chicago, Illinois, and its auto insurance plans are already scheduled to debut next in Tennessee. The company plans on making its insurance appealing to millennial drivers with:

• Real-time crash detection
• 24/7 roadside assistance
• 100 percent accessibility via smartphone    

The company will also offer special discounts for low-mileage drivers and EV/hybrid drivers. Below are some of the discounts Lemonade will have available based on your car type and or your driving needs:

Low-mileage drivers

Lemonade car insurance monitors telematics, which calculates a driver’s insurance rate based on the information provided on how he or he drives. As a result, good millennial drivers that typically do not drive long distances are rewarded with the low rates they love.

EV/hybrid car owners

If you own an environmentally-friendly (EV) or hybrid vehicle, Lemonade offers exclusive benefits, such as charger coverage, emergency charging, and EV/Hybrid discounts.

Corporate Social Responsibility Matters to Millennials

Lastly, one of the top reasons Lemonade car insurance is being positioned as one of the best auto insurance companies for millennials is its corporate social responsibility initiatives.

According to a study by Horizon Media’s Finger on the Pulse, “81 percent of Millennials expect companies to make a public commitment to good corporate citizenship. Lemonade has satisfied the requirement with its incentive designed to offset carbon emissions.

Lemonade vows to use the data received from the app to plant more trees. This will balance the amount of carbon dioxide admitted by its customers’ driving history.

Read more: Lemonade Insurance Company Review

Liberty Mutual

According to a report from 5WPR, 83 percent of millennials prefer companies that align with their values. This is what makes Liberty Mutual a popular option amongst this generation–it’s a traditional company that has existed for over 100 years, yet it has remained innovative.

There are two things millennials love the most: going paperless and discounts. Liberty Mutual captivates its millennial customer base with perks, such as:

• A Paperless Policy discount
• A Pay-in-Full discount
• An alternative-energy discount
• RightTrack^®, a good driver program
• An Online Purchase Discount

All of these perks can be received in addition to decent auto insurance rates and more. 

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Progressive

If its millennial-focused marketing hasn’t persuaded you, Progressive is another company millennials have mentioned as one of the best auto insurance companies.

Although its prices aren’t the most attractive, millennials are drawn to its additional programs and features, such as:

• Name Your Price – The Name Your Price® tool allows Progressive members to specify their ideal insurance amount and compare their expectations to the best rates available.
• Small Accident Forgiveness – This accident forgiveness program promises not to raise your rate for a claim any less than $500 if you get into a car accident.  
• Large Accident Forgiveness –  This accident forgiveness program promises that it will not increase your rate at all if you’ve been in a car accident and meet the following criteria:
  • You’ve been a Progressive auto insurance customer for at least five years.
  • You have been accident-free throughout your 5-year membership.
  • You have not received any violations in the last three years. 
• Snapshot – The Progressive Snapshot program enables Progressive members to customize their insurance rate based on their actual driving behavior.

Another reason Progressive is one of the best auto insurance companies for millennials is its enticing advertising campaigns that resonate with its millennial audience.

For over 11 years, Progressive has been targeting the millennial audience with its memorable character-driven advertisements. Some of its most popular characters include Babyman, a witty, 30-year-old who navigates adult and child-like spaces, and Flo, the cheerful, smiley saleswoman.

It’s critical for millennial consumers to feel acknowledged by brands that desire their business. This is one of the ways Progressive has climbed its way up as one of the top car insurance companies for millennials.   

What’s the cheapest car insurance for millennials?

One thing millennials love is getting a good deal. Cheap insurance companies that are both affordable and high quality can give you a bang for your buck. But when it comes to your annual insurance rate, there is no one-size-fits-all cost. 

The following factors typically determine auto insurance rates:

• Vehicle type
• Location
• Driving history
• Credit score
• Age
• Gender   

We’ve compiled a list of the average annual insurance rates for millennials based on age and gender, so you can get a better idea of what others like you typically pay. That way, you can identify some of the best deals on your own.

Age	Insurance Rates for Women	Insurance Rates for Men
25	$1,870	$1,964
30	$1,588	$1,581
35	$1,651	$1,651
40	$1,614	$1,617

Read more: Best Auto Insurance for Women

After viewing the average auto insurance rates by age and gender, you can better identify which companies are providing millennials like you with the best prices.    

What’s the best auto insurance company for millennials?

Millennials are both trendsetters and trend followers. However, they prefer companies that offer personalization and customized plans to fit their unique needs. In other words, the secret to picking a good insurance company lies in how well you can match your needs with what is available in the market.

Now that you have gained a better idea of what some of the best auto insurance companies are for millennials and what they offer, you have the power to make the best decision for yourself.

Ready to take the next step in finding the best car insurance for millennials? Enter your ZIP code to receive a free insurance quote now.

 

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