Who has the cheapest car insurance?

 

USAA is the cheapest car insurance company on our list, with a study rate of $895. USAA presents the cheapest auto insurance study rates for various demographic profiles used in our study, ranging from 25-year-old men to 60-year-old women.

 

Geico is the second-cheapest auto insurance company based on a study rate of $1,063. Geico’s representative rates for our 25-year-old driver profiles in our study are significantly lower than much of the competition, as are their study rates for driver profiles with one accident on their record.

 

Travelers comes in third in our ranking of the cheapest car insurance companies, with a representative rate of $1,212. For most of our driver profiles, Travelers stays firmly as the third-cheapest option, though in a few instances, it drops to fourth behind State Farm.

 

State Farm is the four-cheapest car insurance company in our analysis, with a study rate of $1,260. That’s well below the average among the nine major car insurance companies on our list.

 

Progressive's car insurance representative rates are the fifth lowest of the companies on this list and come to $1,308 per year based on the driver profiles used in the study. Progressive’s rates in our study for some profiles, such as the 60-year-olds, are quite competitive.

 

American Family has the sixth-cheapest car insurance rates in our study, at $1,326 per year based on the driver profiles we used. Notably, American Family's representative rate is the first one to be higher than the national average of $1,323 – though not by much.

 

Nationwide is the seventh-cheapest car insurance company, according to our analysis. There's quite a jump in the study rates between American Family and Nationwide (about $200), with this company's study rate clocking in at $1,530. Though it’s more expensive than most rivals overall, we found that Nationwide charges among the cheapest study rates for driver profiles with poor credit. 

 

Farmers car insurance rates in our analysis are quite a bit above average, at $1,538. That makes Farmers the second-most expensive insurance company, according to our study.

 

Allstate had rates in our study coming to $1,778 per year based on our driver profiles. That's about $450 higher than the national average rate in our analysis, and almost $900 higher than the representative rates from the cheapest company in our study, USAA.

 

It's important to note that not all of these companies are available nationwide. In fact, only USAA, Geico, State Farm, and Allstate are available in all 50 states and the District of Columbia. American Family and Travelers are only available in 19 and 24 states, respectively. Farmers is available in 31 states, Nationwide is available in 43, and Progressive in 48.

 

 

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