Cheapest Car Insurance Companies (July 2024)

Travelers offers the cheapest car insurance for full coverage, costing $1,105 in June and increasing to $1,124 in July.

GEICO provides the cheapest minimum coverage policies, rising slightly from $534 in June to $535 in July.

State Farm is the cheapest for teens, seniors, drivers with tickets, and with accidents. For those with bad credit, Nationwide is the cheapest. Progressive offers the cheapest premium for drivers with DUIs.

We ranked the cheapest companies nationally and by state for each category to help you find the insurer that best fits your profile.

Travelers and Nationwide are the top two cheapest car insurance companies nationwide, offering the most affordable full coverage policies. A full coverage policy provides the best financial protection in the event of an at-fault incident.

Cheapest Full Coverage Car Insurance Companies and Rates:

• Travelers: $1,124 per year; $94 per month
• Nationwide: $1,141 per year; $95 per month

Moneygeek found that Nationwide and Travelers offer the cheapest full coverage insurance for a 100/300/100 policy, as well as a policy with increased coverage of 300/500/300. The shorthand of 100/300/100 means:

• $100,000 in bodily injury liability coverage per person
• $300,000 in bodily injury liability coverage per accident
• $100,000 in property damage liability coverage per accident

The table above allows you to review our analysis of the most affordable car insurance rates for a full coverage policy with 100/300/100 or 300/500/100 limits. Reviewing providers and rates for different policy limits shows how valuable it is to shop around and find and compare cheap car insurance quotes to find an affordable policy with the coverage you need.

States regulate insurance individually, so different states can have different price levels. Insurance companies may also calculate rates by city, as different cities and towns may have higher or lower risk levels for car accidents and theft. Use the table below to explore the cheapest car insurance companies for a full coverage policy in your state. Click on your state to learn more about local and individual insurance options.

Full coverage offers the most financial protection, as it includes comprehensive and collision insurance, which can pay for damages to your vehicle in case of an accident. However, if you're looking for the most affordable insurance possible, you might shop for the cheapest state minimum insurance policy available to you.

State minimum coverage is the minimum amount of insurance required by law in your state. In some states, it’s also known as state minimum liability insurance.

Cheapest Minimum Coverage Car Insurance Companies and Rates:

• GEICO: $535 per year; $45 per month
• State Farm: $537 per year; $45 per month

If you want additional liability protection but don't want to purchase comprehensive and collision insurance, you should shop for cheap state minimum liability-only insurance with higher coverage levels than your state's minimum requirements.

Even the cheapest car insurance companies charge different prices for minimum coverage policies based on the state. Some states may require more than just liability coverage, such as personal injury protection (PIP) coverage, medical payments coverage or uninsured and underinsured motorist coverage.

Click on your state to find the cheapest minimum coverage options where you live.

Insurers charge different car insurance rates by age and sex. While sex plays a role in how insurers determine rates, age is a significant factor. A teen driver might pay thousands of dollars more per year than an adult driver, as the risk of motor vehicle crashes among teens ages 16 to 19 is almost three times as high as drivers older than 20.

Similarly, when you reach your senior years, car insurance companies start raising rates again, as drivers over 70 have a higher crash mortality rate per 1,000 crashes than middle-aged drivers. Use the table below to find the most affordable insurer and rate by age for a full coverage policy.

Rates shown in this table are for an individual 100/300/100 full coverage policy with a $1,000 deductible.

Insurance companies consider inexperienced student drivers as high risk. For this reason, teen and student drivers can expect higher insurance rates.

Adding a teen driver to a family car insurance policy is often the most affordable option for them to be insured. The table below shows the cheapest car insurance company for teens on a family policy vs. what they may pay for an individual policy with the same insurer.

Rates in this table are for a 100/300/100 full coverage policy with a $1,000 deductible. Family premiums were gathered using a profile with two adults and one teen.

As you enter your 20s, insurers will assume you have gained some experience on the road and will no longer consider you as high risk as a teen. To get cheap car insurance as a young driver, you will still be eligible to stay on a family policy if you meet eligibility requirements, such as continuing to reside in the family home. Otherwise, you'll need to get on your own individual policy.

Rates in this table reflect a 100/300/100 full coverage policy with a $1,000 deductible.

Senior drivers often face more risks on the road than younger adults, as seniors may experience age-related changes in vision, physical functioning and more. Discover the cheapest car insurance companies and rates for seniors aged 65 and older in the table below.

Rates in this table reflect a 100/300/100 full coverage policy with a $1,000 deductible.

The best car insurance company is State Farm, with policies costing an average of $1,222 per year or $102 per month. Followed by Nationwide with premiums averaging $1,141 per year, $95 per month.

To find the best insurers who can balance both cost and service, MoneyGeek created a unique, weighted ranking system and scored each provider accordingly to create a score out of 100. Learn more about how we rank the best providers in the methodology at the top of the page.

Rates in this table are for a 100/300/100 full coverage policy with a $1,000 deductible.

Current and former military personnel and their families often have unique military discounts or policies available that can make a great impact in lowering the cost of a policy. Without using specific military discounts, MoneyGeek found that USAA and Nationwide are the cheapest car insurance companies for the former and current military.

Cheapest Car Insurance for Military Members and Family:

• USAA: $866 per year, $72 per month
• Travelers: $1,124 per year, $94 per month

Discover the average costs of full coverage and state minimum liability policies in the table below to find the cheapest insurance for military members, veterans and their families.

Drivers with moving violations or accidents on their record will have higher rates than those with a clean driving record, as the former are seen as a higher risk to insure. Additionally, drivers who have had a more serious violation, such as a DUI, may need to buy an SR-22 insurance policy.

Although all companies will raise your rates, some will raise them less than others. Explore the sections below to discover the cheapest companies and premiums for high-risk drivers of different profiles.

• Cheapest Drivers With an At-Fault Accident: State Farm
• Cheapest Drivers With a DUI: Progressive
• Cheapest Drivers With a Ticket: State Farm

In general, an at-fault accident will stay on your record and increase your premiums for 3–5 years, depending on the insurer you use and your state. You can still get cheap car insurance as a high-risk driver by comparison shopping to find the best rates.

Cheap Full Coverage Car Insurance for Drivers With an Accident:

• State Farm: $1,493 per year, $124 per month
• Travelers: $1,654 per year, $138 per month

Cheap State Minimum Liability-Only Car Insurance for Drivers With an Accident:

• State Farm: $679 per year, $57 per month
• Travelers: $792 per year, $66 per month

Review the table below and compare rates by age and coverage for drivers with an accident.

Finding affordable car insurance after an accident may require extra research. Use the table below to find the cheapest national and midtier providers available in your state, and filter it by age to find the cheapest option for you — whether you’re looking for full coverage or minimum coverage.

A DUI can increase your rates by hundreds or even thousands of dollars per year. A company that raises your premium less than its competitors could save you a lot of money.

Cheap Full Coverage Car Insurance for Drivers With a DUI:

• Progressive: $1,628 per year, $136 per month
• State Farm: $1,651 per year, $138 per month

Cheap State Minimum Liability-Only Car Insurance for Drivers With a DUI:

• Progressive: $662 per year, $55 per month
• State Farm: $784 per year, $65 per month

To find the cheapest car insurance with a DUI, compare quotes by using the table below to find the cheapest full coverage or state minimum liability-only policies by your age range.

A DUI is one of the most severe common driving violations, which is why it’s essential to compare quotes from several insurers to find the cheapest and best rate available to you. Depending on the state, you may also be required to have SR-22 insurance.

As a starting point, use the table below to find the cheapest car insurance companies after a DUI. Navigate through average premiums from national and midtier providers by state, age range and coverage option (full coverage or minimum coverage).

Similar to having an accident on record, having a ticket on record can impact your car insurance premiums, typically for 3–5 years. The best way to find a cheap car insurance policy with a ticket on record is to gather quotes and comparison shop with at least three providers.

Cheap Full Coverage Car Insurance for Drivers With a Ticket:

• State Farm: $1,374 per year, $114 per month
• Nationwide: $1,435 per year, $120 per month

Cheap State Minimum Liability-Only Car Insurance for Drivers With a Ticket:

• State Farm: $617 per year, $51 per month
• Progressive: $664 per year, $55 per month

Use the table below to find the most affordable car insurance company after a ticket and filter through minimum coverage or full coverage policies and different age ranges.

Explore the table below to find national and midtier providers available in your state offering affordable policies for drivers with tickets. Filter the table and compare providers based on your state, age range and desired coverage level to find the best option for you.

If you have bad credit, Nationwide is the cheapest auto insurance provider for both full coverage and state minimum liability-only policies. Meanwhile, Travelers is the second-cheapest provider for full coverage while GEICO is the second-cheapest for a state minimum liability-only policy for drivers with bad credit.

Cheap Full Coverage Car Insurance for Drivers With Bad Credit:

• Nationwide: $1,542 per year, $128 per month
• Travelers: $1,868 per year, $156 per month

Cheap Minimum Coverage Car Insurance for Drivers With Bad Credit:

• Nationwide: $794 per year, $66 per month
• GEICO: $890 per year, $74 per month

According to the National Association of Insurance Commissioners (NAIC), car insurance companies may increase rates for drivers with lower credit scores to compensate for the elevated risk that you'll make more claims. Indeed, FICO states that 95% of personal insurers use credit-based insurance scores to evaluate the risk of an applicant in states that allow this practice.

Finding the cheapest car insurance for poor credit in your state can be a great way to get savings on your monthly bill. However, in states like California, Hawaii and Massachusetts, insurers are not allowed to consider your credit score.

If you live outside of these states and have bad credit, use the table below to find the most affordable auto insurance rates for your profile and filter results by your state, age and coverage preference.

The car you drive directly impacts your auto insurance premiums, and some cars are cheaper to insure than others. For instance, sports cars are often considered high risk, so premiums may be higher than older cars or common models. However, sports cars aren't only considered high risk but also most likely to be stolen, which makes them likely to come with higher premiums. On the other hand, the cheapest cars for insurance are typically those with good safety ratings, lower repair costs, and less likelihood of theft, such as family sedans and SUVs.

Rates in this table reflect a 100/300/100 full coverage policy with a $1,000 deductible or a national average for state minimum liability-only coverage policy.

Every car insurance company looks at several personalized factors for each driver when determining rates, and they all calculate these factors differently. This means that rates can vary greatly for the same profile from company to company. Car insurance companies also offer their own unique variety of discounts, some that may apply to you and some that may not.

The best way to get the cheapest car insurance quotes for you is to get quotes from the three best insurance companies using the same coverage details and applying all discounts that you are eligible for. Then, compare the quotes you've gathered to find the cheapest car insurance company for you.

Finding the cheapest car insurance for you can be complicated. Here are some of the most common questions consumers have on how to save.