Cheapest Full Coverage Car Insurance: Best Rates & Companies

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Updated: May 5, 2025

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Cheap Full Coverage Car Insurance: Key Takeaways

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Travelers has the cheapest full coverage auto insurance at $93 per month. GEICO is the second cheapest full coverage option at $121 per month.  Certain policies are cheaper depending on your profile, location, and coverage level.

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Nationwide has the cheapest full coverage rate for young drivers and those with bad credit.  State Farm is the most affordable full coverage option for drivers with tickets and at-fault accidents. Progressive offers the cheapest full coverage rate for drivers with a DUI.  USAA has the lowest rate   at $69 per month for those that qualify.

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Certain states have cheaper full coverage car insurance, with the least expensive states starting at $40 per month.  See the analysis of cost by state below.

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What is Full Coverage Car Insurance? A policy that combines liability coverage that pays for damage you cause to others with comprehensive and collision that pays for damage to your own vehicle. Full coverage protects your vehicle against accidents, theft, vandalism, and natural disasters.

Cheapest Full Coverage Car Insurance Companies

Travelers offers the cheapest full coverage car insurance at an average of $97 per month, which is 15% below the national average of $112, according to our analysis.

Other affordable options include State Farm, Progressive, Nationwide, and GEICO, all offering full coverage at below-average rates. Insurance companies calculate cost differently based on individual driver profiles, so full coverage rates for the same person can vary based on credit score, driving record, car type, location, and other factors described below.

Travelers$97-13%
GEICO$100-10%
Nationwide$105-6%
State Farm$109-2%
Progressive$111-0%
Farmers$12411%
Allstate$13319%
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Cheapest Full Coverage Car Insurance Rates by Profile

Although Travelers offers the cheapest full coverage insurance for most drivers on average, your individual rate will vary based on personal factors.  

Specific driver circumstances affect which company offers the best rates: Nationwide provides $654 in savings for drivers with bad credit, USAA offers military members the lowest premium at $823 (saving $449), and State Farm provides post-accident coverage at $1,601, which is $391 below the industry average.

We've highlighted the cheapest full coverage car insurance rates by driver profile below to help you find the lowest cost that includes comprehensive and collision coverage

OverallTravelers$1,161$1,336$-175
SeniorsTravelers$1,145$1,297$-152
After a Speeding TicketState Farm$1,468$1,676$-207
After an AccidentState Farm$1,601$1,992$-391
DUIProgressive$1,693$2,248$-555
Bad CreditNationwide$1,692$2,346$-654
MilitaryUSAA$823$1,272$-449
Young DriversNationwide$1,857$2,247$-390
Expensive CarsState Farm$1,733$2,230$-497
Newer CarsState Farm$1,419$1,747$-328

Read More: Cheapest Car Insurance

Ranking The Best Cheap Companies for Full Coverage

Based on our quote analysis across 20 of the biggest car insurance companies offering full coverage car insurance, State Farm and Travelers rank best for cheap full coverage based on affordability, claims ratings, and customer service.  See the reviews below for more details.

Data filtered by:Results filtered by:
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Age Range:30-59
Select
Coverage:100/300/100 Full Cov. w/$1,000 Ded.
State Farm88$883
Travelers88$1,037
GEICO88$936
Nationwide87$930
Progressive86$1,120
Farmers86$1,192
Allstate85$1,124
State Farm

Best Cheap Company for Customer Experience: State Farm

COMPANY HIGHLIGHTS

Best Rates For Multiple Profiles
State Farm ranks as the best overall car insurance company for full coverage with a MoneyGeek score of 88/100. At $109 per month for full coverage, their rates are slightly below the national average while delivering superior service across multiple driver categories.  They are the cheapest company for drivers with violations and expensive new cars based on our cost study below.

Exceptional Customer Experience
State Farm earned perfect customer satisfaction (35/35) and claims processing (20/20) scores. Their claims are typically paid within 7-10 days, faster than industry average. Customers praise their responsive local agents, personalized service, and user-friendly mobile app that simplifies policy management and claims filing.

Versatility Across Driver Profiles
State Farm excels as the #1 choice for seniors ($100/month), young drivers (lowest family policy additions at $2,329 annually), and high-risk drivers with tickets or accidents ($133/month) – offering rates that are significantly lower than competitors for these challenging categories.

Overall Score: 88 out of 100
MoneyGeek Affordability Score: 92 out of 100
Customer Satisfaction Score: 91 out of 100

Travelers

Best Cheap Car Insurance Company: Travelers

COMPANY HIGHLIGHTS

Cheapest Full Coverage Rates
Travelers has the cheapest full coverage car insurance at $97 per month, 13% below the national average, and they are cheapest for seniors based on the cost study below.  They rank first nationally for affordability and are the top provider in 7 states for budget-conscious drivers and earn a score of 98 out of 100 for affordability. 

Best Claims & Coverage 
Travelers earned perfect scores in both claims processing (20/20) and coverage options (10/10). Their digital claims system resolves issues in about 8 days with clear updates throughout. They offer valuable extras including new car replacement, accident forgiveness, gap insurance, and standout ride share coverage.

Customer Service Tradeoffs
With a MoneyGeek score of 71/100 for customer service, Travelers scores lower on customer service than State Farm.  While representatives are knowledgeable and efficient, customers experience less personalized service and occasionally longer wait times.

Overall Score: 88 out of 100
MoneyGeek Affordability Score: 98 out of 100
Customer Satisfaction Score: 71 out of 100

Read More: Best Car Insurance Companies

Cheapest Full Coverage Car Insurance by State

Finding the cheapest full coverage policy for car insurance depends largely on your state. Your location significantly influences auto insurance rates, as providers analyze state-specific risks when calculating premiums for comprehensive protection.

American Family offers the most affordable full coverage policy in 11 states, while Travelers provides the cheapest full coverage in 6 states. Below are the lowest rates by state.

AlabamaCountry Financial$879$73
AlaskaGEICO$1,042$87
ArizonaRoot Insurance Company$946$79
ArkansasSouthern Farm Bureau$1,047$87
CaliforniaCSAA$542$45
ColoradoAmerican National P&C$1,012$84
ConnecticutGEICO$1,240$103
DelawareTravelers$1,159$97
District of ColumbiaErie$1,428$119
FloridaTravelers$1,548$129
GeorgiaCountry Financial$1,262$105
HawaiiGEICO$669$56
IdahoAmerican Family$698$58
IllinoisAmerican Family$775$65
IndianaAmerican Family$638$53
IowaAmerican Family$771$64
KansasAmerican Family$1,047$87
KentuckyTravelers$1,078$90
LouisianaLouisiana Farm Bureau$1,579$132
MaineProgressive$803$67
MarylandNationwide$1,566$130
MassachusettsState Farm$483$40
MichiganGEICO$1,033$86
MinnesotaAmerican Family$892$74
MississippiDirect General Insurance$1,021$85
MissouriAmerican Family$1,062$88
MontanaState Farm$758$63
NebraskaAmerican National P&C$701$58
NevadaMercury$1,022$85
New HampshireHanover$800$67
New JerseyPlymouth Rock Assurance$1,362$113
New MexicoGEICO$1,117$93
New YorkProgressive$1,270$106
North CarolinaErie$646$54
North DakotaAmerican Family$744$62
OhioAmerican Family$505$42
OklahomaProgressive$1,034$86
OregonKemper$775$65
PennsylvaniaTravelers$820$68
Rhode IslandTravelers$1,040$87
South CarolinaAmerican National P&C$834$69
South DakotaAmerican Family$761$63
TennesseeTravelers$984$82
TexasTexas Farm Bureau$932$78
UtahNationwide$896$75
VermontState Farm$739$62
VirginiaVirginia Farm Bureau$864$72
WashingtonPEMCO$835$70
West VirginiaGEICO$1,286$107
WisconsinAmerican Family$677$56
WyomingFarmers$870$72

Read More: Car Insurance Rates by State

Cheapest Full Coverage Car Insurance by Age

When looking for the cheapest full coverage policy, driver age is a significant factor. Younger drivers usually pay much higher rates due to their higher risk. Teens and new drivers face the highest costs, prices drop after age 25, and then rates start climbing again for senior drivers.

See the tables below for the cheapest full coverage rates by age group.

Cheapest Full Coverage Car Insurance for Young Drivers

With average rates of $180 per month, State Farm has the cheapest full coverage car insurance for young drivers ages 16–25 carrying an individual policy. For young drivers in the same age group on a family plan, the cheapest full coverage car insurance is from Nationwide and costs $155 per month on average:

Travelers$195-7%$176-6%
State Farm$180-15%$186-1%
Progressive$24717%$21515%
Nationwide$2204%$155-17%
GEICO$174-18%$161-14%
Farmers$26023%$23827%
Allstate$202-5%$180-4%
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FIND THE CHEAPEST CAR INSURANCE FOR TEENS AND YOUNG DRIVERS

Most teens under 18 can't legally purchase their own auto insurance policy without a parent or guardian to co-sign, but it is much cheaper to add a younger driver (even if 18 or older) to a family plan.

Read More: Cheapest Car Insurance for Teens

Cheapest Full Coverage Car Insurance for Seniors

Travelers offers the cheapest full coverage car insurance for senior drivers, averaging $95 for a monthly premium. The table below shows the full list of providers offering cheap full coverage car insurance policies for senior drivers.

Travelers$95-12%
Nationwide$97-10%
GEICO$100-8%
State Farm$100-7%
Progressive$107-1%
Farmers$12213%
Allstate$13626%
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FIND THE CHEAPEST CAR INSURANCE FOR SENIOR DRIVERS

Often, discounts are the best way for drivers 55 and older to find the cheapest rates. Seniors may find discounts for homeowners, veterans and low-mileage drivers.

Read More: Car Insurance Discounts for Senior Citizens

Cheapest Full Coverage Car Insurance for High-Risk Drivers

Drivers with speeding tickets, DUIs or accidents are often viewed by insurance providers as high-risk, resulting in higher premiums.  See the cheapest full coverage policies for high-risk drivers by company below:

Cheapest Full Coverage Car Insurance After a Speeding Ticket

With full coverage rates averaging $122 per month and 12% below the national average, State Farm offers the best full coverage car insurance for drivers with a speeding ticket.

State Farm$122-12%
Travelers$132-5%
GEICO$133-5%
Nationwide$133-5%
Progressive$1443%
Allstate$15612%
Farmers$15713%

Read More: Cheapest Car Insurance For High Risk Drivers

Cheapest Full Coverage Car Insurance With an Accident

State Farm has the cheapest full coverage car insurance for drivers with an at-fault accident with average rates of $133 per month. The table below shows average full coverage rates from different companies for drivers after an at-fault accident:

State Farm$133-20%
Travelers$142-14%
Nationwide$160-3%
GEICO$1670%
Progressive$1798%
Allstate$18713%
Farmers$19316%

Read More: Cheapest Car Insurance After an Accident

Cheap Full Coverage Car Insurance With a DUI

The cheapest provider for a driver with a DUI is Progressive, with average rates of $141 per month, 25% below the national average. Despite having a DUI on your record, you can still find cheap full coverage car insurance. See the table below for a comparison of car insurance companies providing full coverage policies for drivers with DUIs.

Progressive$141-25%
State Farm$149-20%
Travelers$165-12%
Farmers$172-8%
Allstate$2017%
Nationwide$21615%
GEICO$26742%

Read More: Cheapest Car Insurance After a DUI

Cheapest Full Coverage Car Insurance for Bad Credit

Nationwide is the cheapest full coverage car insurance provider for drivers with poor credit, with rates averaging $141 per month, 28% below average. Travelers and GEICO also offer full coverage policies that are cheaper than average for drivers with poor credit:

Nationwide$141-28%
Travelers$161-17%
GEICO$170-13%
Farmers$191-2%
Progressive$2023%
Allstate$2055%
State Farm$29852%
Nationwide

Best Cheap Full Coverage for Bad Credit

COMPANY HIGHLIGHTS

Best and Cheapest for Bad Credit
Nationwide emerges as the best option for drivers with poor credit, offering full coverage at $141 per month – a remarkable 28% below the industry average for this category. While most insurers dramatically increase rates for those with credit challenges, Nationwide provides the most affordable protection.

Balanced Performance
With a solid MoneyGeek score of 82/100, Nationwide delivers reliable performance across key metrics. Their claims processing is efficient and straightforward, while their customer satisfaction scores demonstrate their commitment to resolving issues effectively regardless of a customer's credit history.

Value-Added Options
Nationwide offers competitive rates ($105/month overall) with comprehensive coverage options that include vanishing deductibles and accident forgiveness. Their On Your Side Review provides annual policy checkups to ensure drivers maintain appropriate coverage as their situations change, making them particularly helpful for those rebuilding their financial standing.

Overall Score: 87 out of 100
MoneyGeek Affordability Score: 85 out of 100
Customer Satisfaction Score: 82 out of 100

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MONEYGEEK EXPERT TIP

Insurance providers consider credit-based insurance scores when calculating car insurance rates in most states, except California, Hawaii, Massachusetts and Michigan. Drivers in states like New York, Arizona and Nebraska, could see their rates more than double if they have poor credit.  Improving your credit score will likely significantly decrease your full coverage cost.

Read More: Cheapest Car Insurance for Drivers With Bad Credit

Cheapest Full Coverage Car Insurance for Military and Veterans

With rates averaging $69 per month, USAA offers the cheapest full coverage car insurance for military drivers, veterans and their families. Travelers and GEICO are also worth considering based on military discount offerings available from the two companies:

USAA$69-35%
Travelers$97-9%
GEICO$100-5%
Nationwide$105-1%
State Farm$1093%
Progressive$1115%
Farmers$12417%
Allstate$13326%

Read More: Car Insurance for Veterans and Military Families

What Cars Need Full Coverage Insurance?

Full coverage car insurance is generally required for financed or leased vehicles but we generally recommend having full coverage for all cars unless your car has a very low value.  Full coverage gives you liability coverage and collision and comprehensive coverage that's ideal for various high-value cars (i.e, newer, luxury, performance, import, classic and/or electric vehicles).   See all reasons below in our buyers guide.

The sections below highlight the cheapest full coverage rates for newer and more expensive cars:

Cheapest Full Coverage Insurance for Expensive Cars

High-value vehicles like sports cars, luxury sedans and EVs are costly to repair or replace. While these vehicles are more expensive to insure, full coverage car insurance tends to be worth it more often. With average rates of $144 per month, State Farm has the cheapest full coverage car insurance for expensive vehicles:

State Farm$144-22%
GEICO$155-17%
Nationwide$162-13%
Travelers$177-5%
Progressive$1881%
Allstate$23527%
Farmers$24029%

Read More: Cheapest Car Insurance for Luxury Cars

Cheapest Full Coverage Car Insurance for Newer Cars

Full coverage car insurance is typically required if you're financing a newer vehicle. Even without financing, full coverage may be worth the investment for newer cars, depending on your financial situation and the vehicle's value. Our analysis shows State Farm offers the cheapest full coverage insurance for newer vehicles, with average rates of $118 per month - making it more affordable to protect your recent purchase.

State Farm$118-19%
GEICO$121-17%
Nationwide$126-13%
Travelers$134-8%
Progressive$1588%
Farmers$17923%
Allstate$18426%

Read More: Cheapest cars to insure

Full Coverage Car Insurance Buyers Guide

To ensure you get the best full coverage option for your needs, explore the following sections for guidance on choosing the right policy. This will help you find the balance between coverage and cost, tailored to your situation.

How to Get Cheap Full Coverage Car Insurance

Take the following steps to ensure you pay the lowest rate for your full coverage policy.

  1. 1

    Review your coverage needs annually

    As your vehicle ages and your life circumstances change, your coverage needs may shift. Annual reviews ensure you're not overpaying for unnecessary coverage. To determine your coverage needs,, weigh the value of your car against factors like how much you drive and risks from theft or weather in your area.

  2. 2

    Get quotes from multiple insurers

    Don't settle for the first quote you receive. Insurance companies calculate risk differently, so rates can vary by hundreds of dollars for identical coverage.

  3. 3

    Ask about discounts

    Most insurers offer significant savings through bundling, safe driver, good student, military, and vehicle safety discounts. Many drivers save big by bundling multiple policies with multi-car policies or home and auto bundles.

  4. 4

    Choose a higher deductible

    Increasing your deductible from $500 to $1,000 can lower premiums by 10-15%. Just ensure you have enough savings to cover this amount if you need to file a claim.

  5. 5

    Choose an annual payment plan

    Many insurers offer significant discounts—typically 5-10%—when you pay your entire premium upfront rather than monthly. This one-time payment eliminates installment fees and can save you hundreds of dollars each year.

  6. 6

    Maintain a good driving record

    Providers tend to reward safe driving with lower rates. To minimize costs, avoid traffic violations like speeding tickets, DUIs, at-fault accidents, etc. If you get into an accident, you may avoid a premium surcharge with accident forgiveness coverage, but you must already have this on your policy at the time of the accident. For example, State Farm only offers this to customers with no at-fault accidents who've been with the company for at least nine years. If that's not an option, consider usage-based telematics programs that reward safe driving with lower rates.

  7. 7

    Improve your credit score

    In most states, improving your credit score can dramatically reduce your premiums—drivers with poor credit pay an average of 105% more than those with excellent credit. Even moving up just one credit tier can save you about 17% (around $384 annually). Focus on paying bills on time, reducing debt, and correcting any errors in your credit report.

  8. 8

    Lower your mileage estimate

    Many drivers overestimate their mileage by thousands of miles annually. Drivers with less than 7,500 miles per year can save 15-30% on premiums. Check maintenance records or track your driving for a month to calculate actual mileage, then report this figure to your insurer to get cheaper full coverage insurance.

Read More: How to Reduce Your Car Insurance Costs

How Much Should Full Coverage Car Insurance Cost?

On average, full coverage car insurance costs $1,343 per year. The cost you pay for full coverage car insurance depends on several factors like your age, location, driving record and coverage choices. When it comes to coverage choices, two factors that heavily influence the cost of full coverage car insurance are your liability limits and deductibles.

100/300/100,000$1,343$1,500
100/300/100,000$1,377$1,000
300/500/300,000$1,454$1,500
300/500/300,000$1,488$1,000
100/300/100,000$1,501$500
300/500/300,000$1,613$500

Read More: Average Cost of Car Insurance

Getting Cheaper Full Coverage With a Higher Deductible

Increasing your deductible can help you get cheaper full coverage car insurance.  Based on the average cost of full coverage policies for 100/300/100 coverage, here are the savings: 

  • Raising your deductible from $500 to $1,000 reduces the average annual premium from $1,501 to $1,377 – a savings of $124 per year.
  • Going from a $1,000 to a $1,500 deductible provides additional savings, lowering your premium from $1,377 to $1,343 – an extra $34 annually.

While these higher deductibles mean lower monthly payments, remember that you'll need to pay more out-of-pocket when filing a claim. Choose a deductible that balances premium savings with what you can realistically afford to pay in an emergency situation.

How Much Full Coverage Car Insurance Do I Need?

When choosing full coverage car insurance, consider these key factors to find the right protection level:

  1. Vehicle value: More expensive cars generally require higher coverage limits
  2. Loan/lease requirements: Lenders typically have minimum coverage requirements
  3. Personal assets: Higher coverage protects your savings and property from lawsuits
  4. Risk factors: Consider your driving habits, location (high-traffic or accident-prone areas), and typical passengers
  5. Budget constraints: Balance premium costs against potential out-of-pocket expenses after an accident

Most experts recommend liability coverage of at least 100/300/100 ($100,000 bodily injury per person, $300,000 per accident, $100,000 property damage), plus comprehensive and collision with deductibles you can comfortably afford in an emergency.

See our guide to determining how much car insurance coverage you need.

How Your Driver Profile Impacts Full Coverage Rates

Your age, driving record, and other personal factors determine your full coverage car insurance costs. The table below shows average rates for different driver types, helping you see how insurers might price your policy:

After a Speeding Ticket$1,67625%
After an Accident$1,99249%
Bad Credit$2,34676%
DUI$2,24868%
Expensive Cars$2,23067%
Military$1,272-5%
Newer Cars$1,74731%
Seniors$1,297-3%
Young Drivers$2,24768%

How to Find the Cheapest Full Coverage Car Insurance Quotes

While knowing average rates and the cheapest providers is helpful, the only way to get your actual cost for full coverage car insurance is to get personalized quotes. Compare quotes from multiple insurance companies to find the most affordable price for your specific situation. The link below lets you enter your information once and receive quotes from several providers, making it easier to compare options and find the cheap full coverage car insurance that meets your needs.

Read More: Car Insurance Calculator

Discounts for Cheaper Full Coverage Car Insurance

Discounts can significantly reduce your full coverage costs. Insurance providers offer various discounts to reward safe driving, customer loyalty, and other factors that statistically lower risk.  

  • Multi-Policy Discount: Bundle your auto insurance with other policies (home, renters, life) to save. Popular with: State Farm, Allstate, Progressive, and GEICO.
  • Safe Driver Discount: Maintain a clean driving record without accidents or violations for 3-5 years. Offered by: Progressive, GEICO, Liberty Mutual, and State Farm.
  • Good Student Discount: Available for students maintaining a B average or higher. Common with: GEICO, Allstate, State Farm, and Nationwide.
  • Vehicle Safety Feature Discount: Cars equipped with anti-theft devices, advanced safety features, or newer safety technology. Available through: Liberty Mutual, Travelers, Farmers, and Progressive.
  • Paid-in-Full Discount: Save by paying your entire premium upfront rather than monthly. Offered by: Progressive, Allstate, GEICO, and Farmers.
  • Professional/Membership Discount: Savings for members of professional organizations, alumni associations, or military personnel. Popular with: USAA (military), GEICO, Liberty Mutual, and State Farm.

What Does Full Coverage Car Insurance Cover?

Full coverage car insurance combines liability, collision, and comprehensive insurance. While states only require liability insurance that covers damage you cause to others, full coverage adds protection for your own vehicle against accidents, theft, and weather damage. This coverage is typically required for financed or leased vehicles.

Insurance Coverage
What It Covers
What to Consider

Liability Coverage

Covers costs for property damage or injuries to others if you're at fault in an accident.

Doesn't cover your own damages. State laws usually require this, but consider purchasing limits above the minimum for better protection. Leasing or financing may require additional coverage, like GAP insurance.

Comprehensive Coverage

Pays for repairs to your vehicle from non-collision events like theft, vandalism, fire, weather or animal damage.

Optional unless required by a lender. Ideal if you live in high-risk areas for theft or natural disasters. Not related to collisions.

Collision Coverage

Covers repairs to your vehicle if it's damaged in a collision with another vehicle or object, or from an at-fault accident.

Also optional but often required for financed cars. It includes at-fault accidents and pothole damage but excludes commercial use.

What Does Full Coverage Car Insurance Not Cover?

Full coverage auto insurance generally provides extensive protection, but it does have certain limitations. It typically does not include coverage for the following:

Personal injuries

Damage from wear and tear

Mechanical breakdowns

Commercial use

Vehicle customization or accessories

Pet injuries

Full Coverage Car Insurance Add-On Options

Full coverage car insurance policies are often flexible, offering a variety of add-on coverages and allowing you to select deductibles that fit your budget. Depending on the car insurance provider, you can add these coverages to your policy for an additional cost:

Add-On Coverage
Description

Personal Injury Protection (PIP)

Covers medical expenses and lost wages for you and your passengers, regardless of fault, often required in no-fault states.

Roadside Assistance

Provides help with services like towing, fuel delivery and tire changes if your car breaks down or you’re stranded.

Medical Payments Coverage

Pays for medical and funeral expenses for you and your passengers after an accident, regardless of fault, supplementing health insurance.

Uninsured/Underinsured Motorist Coverage (UM/UIM)

This covers your expenses if you're in an accident with a driver who has no insurance or insufficient coverage.

Rental Car Reimbursement

Covers the cost of a rental car while your vehicle is being repaired due to a covered accident.

Why Is Full Coverage Insurance Expensive?

Full coverage car insurance is more expensive than state minimum coverage because it includes comprehensive and collision protections, covering damages to your own vehicle from accidents, theft or natural disasters.  Liability-only policies only cover damage or injury you cause to others. 

Why This Expanded Protection Costs More?

  1. Lower financial risk for you: With full coverage, the insurance company assumes responsibility for both your property and any damage you cause to others, significantly increasing their potential payout.
  2. Additional coverage scenarios: Full coverage protects against many more situations than liability-only, including single-car accidents, theft, and natural disasters.
  3. Vehicle replacement costs: Your insurer may need to pay the full value of your car if it's totaled or stolen.
  4. Repair expense coverage: Modern vehicles with advanced technology are increasingly expensive to fix, and full coverage includes these costs.

Below are the profile factors impacting the cost of your policy.

Factors That Affect the Cost of Full Coverage Car Insurance

 

Below are the factors that determine how much your individual rate will cost for a full coverage car insurance policy:

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Vehicle Model and Age

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Gender

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Liability Limits

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Driving Record

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Driver Age and Experience

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Location

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Credit History

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Previous Claims

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Deductible Amount

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State Laws

Sources:

https://www.moneygeek.com/insurance/auto/what-is-the-average-cost-of-car-insurance-month-year/

Read More: Why Car Insurance Is So Expensive

Full Coverage vs. Liability Cost Difference

On average, full coverage car insurance costs $701 per year more than liability-only car insurance, with annual full coverage rates averaging $1,296 per year and annual liability-only rates averaging $595 per year. Depending on the provider, the difference in annual rates between full coverage and liability-only coverage can range from $582 to $789 per year:

Allstate$740$1,596$857
Farmers$789$1,488$698
GEICO$665$1,204$539
Nationwide$598$1,260$662
Progressive$772$1,335$562
State Farm$730$1,308$578
Travelers$582$1,161$579

Read More: Liability vs. Full Coverage Car Insurance

Should You Buy Full Coverage Auto Insurance?

Experts recommend full coverage unless your car's actual cash value (ACV) is low. You shouldn't pay more in premiums than the car's worth, as some add-ons may exceed repair costs. Use resources like Kelley Blue Book to assess your vehicle's value. If insurance costs are too high compared to its value, especially for older cars, liability-only might suffice. If you can afford repairs or replacement out-of-pocket, full coverage may not be necessary.

When to Get Full Coverage Auto Insurance

Full coverage provides financial protection for your vehicle against accidents and unexpected events. It's required for most financed or leased vehicles. This coverage is also valuable if you have a newer or expensive vehicle that would be costly to repair or replace.

Consider full coverage if you drive frequently or commute daily, as this increases your accident risk. It's also beneficial if you live in areas with high theft rates or severe weather conditions since it covers your vehicle against theft, vandalism, and natural disasters.

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    You're financing or leasing your car

    Most lenders require full coverage car insurance.

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    You drive a new or expensive car

    Full coverage car insurance saves you from high out-of-pocket costs for repairs or replacement of a new or high-value vehicle.

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    You drive your car every day or rely on it for commuting

    If you're on the road frequently and face a higher chance of accidents, full coverage car insurance enhances your financial protection by covering a broader range of risks.

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    You live in a high-risk area for theft or bad weather

    Since full coverage insurance reimburses you for the value of your stolen or weather damaged car, it eliminates the need to repair or replace it yourself.

Read More: Do You Need Full Coverage on a Used Car?

When to Drop Full Coverage Auto Insurance

Consider switching to liability-only coverage when:

  • Your car's value has significantly depreciated (typically worth less than $4,000)
  • The annual cost of full coverage exceeds 10% of your vehicle's value
  • Your premiums plus deductible amount to more than your car's worth
  • You have a low risk of vehicle damage (secure parking, low-traffic area, favorable weather conditions)
  • You drive infrequently or keep your vehicle in storage most of the time
  • You have sufficient savings to repair or replace your vehicle without financial hardship

Even if you own your vehicle outright with no loan requirements, maintaining full coverage on a newer or valuable car is still recommended to protect your investment.

Cheapest Full Coverage Auto Insurance: Bottom Line

Travelers offers the cheapest average full coverage at $97 per month, with GEICO second at $100 per month and Nationwide at $105 per month. For military members and their families, USAA provides the lowest rates at $69 per month for those who qualify. State Farm is the most affordable option for drivers with tickets and at-fault accidents, while Progressive offers the cheapest coverage for drivers with a DUI.

Full coverage is required for most financed or leased vehicles to protect the lender's investment. It's also worth considering if you drive a new or expensive vehicle, commute daily, or live in an area with high theft rates or severe weather. The added protection covers your vehicle against accidents, theft, and weather damage.

To get cheaper rates, review your coverage needs annually, compare quotes from multiple insurers, ask about discounts, choose a higher deductible, pay annually instead of monthly, maintain a good driving record, work on improving your credit score, and provide an accurate mileage estimate to your insurer.

FAQ: Cheap Full Coverage Car Insurance

Below are common questions about cheap full coverage car insurance:

Who has the cheapest full coverage car insurance?

How can I save on full coverage car insurance?

How can I save money on full coverage car insurance after a DUI?

How can teenagers find the cheapest full coverage car insurance?

How can I save on full coverage car insurance after an accident?

How can I save on full coverage car insurance after a ticket?

How often should I review my full coverage car insurance policy?

Is full coverage better than liability-only car insurance?

Which company offers the best full coverage car insurance?

How much cheaper is liability vs. full coverage?

Should I have full coverage on a paid-off car?

Is full coverage car insurance cheaper for older cars?

How long should you keep full coverage on a car?

Do I need full coverage car insurance?

Is comprehensive insurance the same as full coverage?

What qualifies as a full coverage policy?

Does full coverage cover everyone?

What factors affect the cost of full coverage car insurance?

Does credit score impact the price of full coverage car insurance?

Can bundling home and auto insurance lower full coverage costs?

Is there a difference in full coverage costs for electric vs. gas cars?

How does mileage impact full coverage car insurance rates?

Are pay-per-mile or usage-based insurance plans cheaper for full coverage?

Are there payment plans on cheap full coverage policies?

Full Coverage Car Insurance Companies: Our Review Methodology

Data Depth and Overview

Overall, MoneyGeek analyzed 2,474,515 quotes, from 607 companies, across 3,523 ZIP codes to determine the cheapest full coverage car insurance for drivers of various profiles and needs.

Driver Profiles

To find the cheapest full coverage car insurance MoneyGeek created an average driver profile to collect rates from insurers. This profile includes the following characteristics:

  • 25-year-old male
  • Clean driving record
  • 2012 Toyota Camry LE
  • 12K miles driven annually

To collect data on rates for specific driver characteristics, the average driver profile was modified by geographic location, age, credit score and driving history — such as adding a ticket, a DUI or an accident — to the standard driver profile.

Defining Full Coverage

Unless specifically indicated, when MoneyGeek makes a recommendation about the cheapest full coverage company and respective premium on this page, we are referencing a 100/300/100 policy. This is shorthand for:

  • $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
  • Comprehensive and collision coverage with a $1,000 deductible

Learn more about full coverage.
Learn more about state minimum coverage requirements.

How We Ranked Best Providers for Affordability

MoneyGeek used sources such as AM Best, J.D. Power, the Crash Network report card and quote data from Quadrant Information Services and state insurance departments to determine the best affordable car insurance providers. To create a score for each insurer, MoneyGeek created a weighted ranking system using the following weights:

  • Financial Stability: 5%
  • Customer Satisfaction: 25%
  • Claim Satisfaction Claims Score: 20%
  • Coverage Offerings Score: 10%
  • Affordability: 40%

Car insurance rates presented are based on data collected two months ago.

Learn more about MoneyGeek's auto insurance methodology.

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About Mark Fitzpatrick

Mark Fitzpatrick headshot

Mark Fitzpatrick, a Licensed Property and Casualty Insurance Producer, is MoneyGeek's resident Personal Finance Expert. With over five years of experience analyzing the insurance market, he conducts original research and creates tailored content for all types of buyers. His insights have been featured in publications like CNBC, NBC News and Mashable.

Fitzpatrick holds a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He's also a five-time Jeopardy champion!

Passionate about economics and insurance, he aims to promote transparency in financial topics and empower others to make confident money decisions.

Read Full Bio »
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