The Cheapest Full Coverage Car Insurance for 2021

A full coverage car insurance policy — one with comprehensive and collision insurance — is much more expensive than liability-only car insurance, but it provides valuable protection. A full coverage policy will cover both liability costs and the costs of damages to your car, minus your deductible. Although these policies cost more, prices differ greatly depending on the insurance company. MoneyGeek found that GEICO has the cheapest widely-available full coverage car insurance, at a cost of about $941 per year.

But the exact cost of your full coverage car insurance policy depends on many factors, including your driving history and what state you live in, so it’s best to get compare personalized quotes to get the best cheap full coverage for you.

We analyzed the largest auto insurance companies across all 50 states to find the nine companies with the cheapest full coverage car insurance rates. The average cost across all companies for full coverage car insurance is $1,270 per year. The three cheapest companies are:

• GEICO: $941 per year.
• State Farm: $1,114 per year.
• USAA: $817 per year, but only available to drivers with a military background.

These policies include comprehensive and collision coverage with liability limits of 50/100/50. Each of these companies offers auto insurance coverage in at least 30 states across the U.S. While these rates are averages, they may not reflect the lowest price each customer will receive. It’s best to compare quotes from different auto companies using your personalized factors to determine which offers the best cheap full coverage car insurance.

Rates with these prices are provided based on a 40-year-old driver with a clean driving record. Many factors influence car insurance rates, including whether you chose liability-only or full coverage auto insurance, so it’s best to get car insurance quotes online based on your individual factors.

Accidents and tickets on your driving record could increase the cost of full coverage car insurance in your state, reducing your chances of getting cheap auto insurance rates. When comparing the average annual premium for full coverage insurance with 50/100/50 liability limits and comprehensive and collision coverage, the cost increase with a ticket is $759 per year.

For drivers with a ticket who want 50/100/50 liability limit coverage with comprehensive and collision coverage, USAA came in as the lowest-cost company for these coverages, costing an average of $939 per year. This is $122 more expensive per year than not having a ticket. However, USAA is only available to military members, veterans and their families, so GEICO may be the most affordable choice for most drivers. GEICO has an average annual rate of $1,265 for drivers with a ticket, which is $324 higher than their average rate with a clean driving record.

Rates will vary widely based on the state you live in, the type of ticket received and other personalized factors. Getting an individual quote for these auto coverages will help determine which company is best for cheap car insurance.

If you are involved in an accident, it could affect your chances of getting cheap full coverage car insurance rates. While not all accidents and claims will raise your rates, you should expect rates to adjust if you are involved in an accident. When comparing rates for the same 50 companies using 50/100/50 liability limits, comprehensive and collision coverage, the average rate increase is $1,130 more per year.

When quoting the average cost, the two lowest-cost companies for these coverages with an accident are USAA and State Farm. The average rate increase for USAA is $419 per year. For State Farm, the average rate increase is $320 per year.

Being labeled as a high-risk driver can be costly, but you can and should still get multiple quotes to ensure you get the best auto insurance rates for which you qualify.

Increasing auto coverage from 50/100/50 to 100/300/100 may cost more, but it also provides broader protection if you cause injuries or property damage in an accident. These higher limits include $50,000 more in property damage, $50,000 more per injured person and up to $200,000 more in additional bodily injury protection.

Expect to pay an average of 37.37% more for 100/300/100 coverage compared to 50/100/50. The two lowest-cost companies for 100/300/100 liability limits, comprehensive and collision coverage are USAA and GEICO. These coverages cost $66 more in premium annually with USAA and $106 more with GEICO.

As you can see, rates can vary from company to company when comparing full coverage car insurance coverage. Getting personalized quotes will give you the true cost from each company when comparing liability car insurance limit changes.

You should consider more than just rates when buying a full coverage car insurance policy. You’ll want a company that combines savings with excellent customer service and claims processes. And you’ll want it to be financially stable so that you know your claims will be paid. MoneyGeek ranked GEICO as the best car insurance company of 2021.

There is no single definition for full coverage car insurance, but it typically includes liability protection and comprehensive and collision coverage. Liability coverage protects the other person and property involved, while comprehensive and collision coverages protect your vehicle if it’s damaged.

Other coverages may be included in full coverage auto insurance, such as personal injury protection (PIP), medical payments, rental car coverage and roadside assistance. These additional coverages are considered optional and can be included in a quote for cost-comparison purposes.

MoneyGeek has analyzed rates across the board to help you find the best and cheapest full coverage car insurance in your state. The types of coverage offered by insurance providers vary, and that’s why it’s crucial to compare your own costs by getting customized quotes. Your individual situation and personalized needs are the best determining factors of how much you’ll pay for full coverage auto insurance. These tips and steps can give you a big head start in finding your best option.

Average rates are calculated based on 50/100/50 comprehensive and collision coverage with a $1,000 deductible. These figures use a sample driver profile of a 40-year-old male driving a Toyota Camry with no record of tickets or accidents. MoneyGeek also analyzed a similar persona to define average rates for drivers with a ticket or accident on their record and a driver who chose 100/300/100 coverage. Learn more about premium costs and MoneyGeek’s Methodology.