For full coverage policies, some insurance companies charge as much as $800 more per year than others. Use our data to find the cheapest company offering full coverage car insurance policies nationally, in your state or for your driving history.
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.
While there is no single definition of full coverage auto insurance, it usually packages basic liability insurance with comprehensive and collision coverage.
If you have a luxury vehicle or are making payments on your car, full coverage can help pay for repairs from an at-fault accident, weather damage, theft or other scenarios.
GEICO, State Farm and USAA have the most affordable rates for full coverage car insurance for the average driver.
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:
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 actual rate 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.
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You can learn more about how these full coverage rates were collected and calculated in MoneyGeek's methodology.
Car insurance is regulated by the states, so the cheapest companies for full coverage at a national level might not necessarily be the cheapest company in your state. MoneyGeek found that GEICO, the cheapest company for full coverage nationally, is also most likely to be the cheapest on average in your state. It had the lowest rates in 24 of the 50 states plus Washington D.C.
State Farm is the cheapest for full coverage in nine states, while both Nationwide and Erie — the cheapest option in three states each — round out the top four. If your military background makes you eligible, USAA could be your cheapest choice. It was the most affordable for our sample driver in 38 states.
Browse to your state below to learn more about the cheapest full coverage policies where you live.
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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.
On average, GEICO offers the lowest full coverage rates for drivers with a ticket on their record. GEICO policyholders with a clean driving record can expect to pay $324 less per year on comprehensive and collision coverage than those with a ticket. Still, GEICO's average full coverage rate of $1,265 is the most affordable for most drivers when compared to other companies.
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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.
With an accident on their record, drivers insured by State Farm can expect to pay an average of $320 more for full coverage insurance than if they had a clean driving record. However, with an average premium of $1,434 after an accident, State Farm provides some of the lowest full coverage auto insurance rates for most drivers.
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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.
In many cases, increasing your liability coverage is relatively affordable. State Farm customers pay an average of $106 more per year for 100/300/100 coverage compared to 50/100/50 coverage. With some of the lowest rates for most drivers, State Farm customers can expect to pay an average of $1,047 for 100/300/100 coverage.
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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.
GEICO ranks as the best car insurance company for full coverage policies. It combines cheap rates with a strong customer service reputation and rock-solid financial stability.
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.
One of the best ways to get cheap full coverage auto insurance is by shopping with several car insurance companies. Getting multiple personalized quotes to compare coverages doesn’t have to be difficult, and MoneyGeek can help. By comparing auto insurance rates and coverages, consumers can save up to 47%, even high-risk drivers.
To make the process easier, have the right information available when getting full coverage car insurance quotes. Here are some steps to take to get accurate auto quotes while shopping for car insurance:
To get an accurate quote, you'll typically need to enter your name, date of birth, address and driver’s license information for all household drivers, including yourself. You'll also need to know the year, make, model and VIN for each vehicle to be insured. Knowing your current coverages can help you find the best deal for full coverage.
Whether you're comparing two or five different auto insurance companies, be consistent with the coverages you're using to compare. Use the same liability limits and comprehensive and collision deductibles to make an accurate comparison to find the best cheap full coverage car insurance.
Add-ons can mean higher premiums, but they may be worth it to you. Accident forgiveness, gap insurance and rental car coverage are just a few of the options available. Optional coverages vary by company and may not be available to all customers.
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.
The following are some of the most frequent questions drivers have about buying full coverage car insurance.
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Associate Professor of Marketing at Case Western Reserve University
Professor of Finance at Rutgers Business School; Author of Buffett's Tips: A Guide to Financial Literacy and Life
Clinical Professor of Finance at the University of San Diego School of Business
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Professor of Finance, Coordinator, Doctoral Finance Program at The University of Texas at Arlington
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Average rates are calculated based on 50/100/50 liability insurance and comprehensive and collision coverage with a $1,000 deductible. A 50/100/50 liability insurance policy is shorthand for car insurance with the following liability coverage limits:
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.
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