Cheapest Car Insurance Companies in 2026

The five cheapest car insurance companies nationwide on average are:

1. Progressive: $52/mo
2. GEICO: $53/mo
3. Travelers: $54/mo
4. State Farm: $54/mo
5. Nationwide: $76/mo

Progressive beats all competitors at 38% below the national median. You save $374 yearly. GEICO, Travelers and State Farm cost within $2 monthly of each other, but each wins in different scenarios. Travelers: cheapest full coverage. GEICO: cheapest liability only. State Farm: cheapest for high-risk drivers with accidents, tickets or DUIs.

Compare quotes from the cheapest companies to find your best rate and savings.

*Rates are based on the average of state minimum liability and comprehensive and collision coverage with 100/300/100 limits and a $1000 deductible insuring a 20212 Toyota Camry.

Travelers has the cheapest full coverage car insurance nationwide at $97 monthly, 29% below the national average. GEICO costs $98 monthly, only $1 more. Both save you over $230 yearly versus typical full coverage costs. Pick Travelers if you don't qualify for GEICO's military or federal employee discounts.

GEICO has the cheapest liability-only car insurance at $43 monthly, 36% below the national average. You save $264 yearly. National General costs $48 monthly, 28% below typical costs. Minimum state liability coverage costs least, but higher limits like 100/300/100 protect your assets better. The premium jump is usually small. Compare quotes for both to see your actual cost difference.

State Farm is chepease in 18 states. GEICO leads in 16 states. Pick the right one and save up to $1,943 yearly. Your state's cheapest insurer changes based on local accident rates, weather patterns and state regulations. Check your state in the table to find your lowest rates.

Your cheapest insurer depends on your age. National General costs least for teens and young adults. GEICO costs least for seniors. Teen drivers pay more because they crash more. Rates drop after age 25 for clean-record drivers, hit bottom between ages 40 and 60, then climb after 65.

National General is the cheapest car insurance company for teens at $210 monthly for minimum coverage, 13% below the national average. It's also cheapest for comprehensive and collision at $459 monthly. State Farm costs $225 monthly for liability and $444 for full coverage, also 13% below average.

National General sits between regular and high-risk markets. It accepts young drivers that traditional insurers reject. It also prices teens on family policies individually instead of hitting all young drivers with the same surcharge.

National General is the cheapest company for young adults at $88 monthly for minimum liability, 29% cheaper than the national average. GEICO costs $94 for liability and $207 for full coverage.

Need comprehensive and collision? National General costs $182 monthly for full coverage.

GEICO is the cheapest car insurance company for seniors at $83 monthly, 13% below the national average for this age group. GEICO keeps costs low with a direct-to-consumer model. It combines mature driver discounts and defensive driving course savings with multi-policy bundling (many seniors already bundle homeowners insurance).

National General has the cheapest full coverage at $167 monthly. It accepts seniors that traditional insurers push into higher price brackets. GEICO's full coverage costs $171 monthly, just $4 more. Choose between National General's competitive pricing through agent networks or GEICO's digital-first convenience with 24/7 phone support.

Drivers with accidents, speeding tickets or DUIs pay higher premiums, but State Farm costs least for most high-risk drivers. It treats them as pricing anomalies within its diversified risk pool instead of routing them to expensive non-standard divisions. State Farm charges 23% to 29% below competitors across violation types, absorbing high-risk drivers into its massive policyholder base where their premiums average out against millions of clean-record customers.

• At-Fault Accident: State Farm charges $62 monthly for minimum coverage and $141 for full coverage, 23% below the national average.
• Speeding Ticket (11-15 MPH Over): Minimum coverage costs $56 monthly with State Farm, 18% below average. Travelers costs $63 monthly.
• DUI Conviction: State Farm costs $73 monthly for minimum coverage and $159 for full coverage, 29% below average. Travelers and Progressive also have competitive rates for drivers with DUIs.

Nationwide is the cheapest company for drivers with bad credit at $165 monthly for minimum coverage and $164 for full coverage, 29% below the national average. Farmers costs $179 monthly for liability and $203 for full coverage, 17% below average. GEICO costs $183 monthly for minimum coverage (more expensive than Nationwide and Farmers for liability only). But GEICO's full coverage rate of $195 monthly is 18% below average, nearly matching Farmers' discount despite higher liability costs.

Insurance companies price identical coverage anywhere from $1,200 to $8,500 differently based on whether you're a teen driver, carry violations, own multiple vehicles, or have poor credit. The right carrier for your situation, combined with strategic discount stacking, cuts premiums 20% to 40% below advertised base rates. Regional insurers often undercut national carriers by 28% to 34% in markets where they focus operations.

Your cheapest car insurance company isn't determined by advertised rates or market share but by how well an insurer's business model and discount structure match your specific driver profile.

Young drivers save most with Travelers' youth-focused programs. High-risk drivers find lowest rates through State Farm's forgiving violation pricing. Multi-car families benefit from GEICO's stackable household discounts. Poor credit drivers pay much less through Nationwide's credit-light underwriting.

Your most economical car insurance company varies by individual circumstances, but GEICO has competitive rates across multiple driver profiles. Travelers provides excellent value for full coverage at $97 monthly. Learning how to switch car insurance companies makes transitioning to a cheaper provider straightforward.

We answer common questions about saving money on car insurance to help you find the cheapest policy: