Cheap Comprehensive Car Insurance
The cheapest full coverage car insurance is GEICO, at $941 per year and $78 per month. Some insurers may charge as much as $800 more per year than others. Comparison shopping is the best way to find the most affordable policy for you.
cheap comprehensive car insurance
Why Trust MoneyGeek? MoneyGeek used multiple driver profiles and gathered data from state departments of insurance and Quadrant Information Services to help you find the cheapest full coverage auto insurance for your needs.
Full coverage car insurance costs an average of $1,270 per year. 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 three cheapest companies are:
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.
MoneyGeek found that nationally, the most common cheapest full coverage car insurance company for young adult drivers is Geico, though the cheapest option for high school-aged teens is State Farm. These rates were discovered using a profile with the sample driver on their own policy (not bundled with a parent's policy), using $1,000 deductible and 100/300/25 coverage limits.
To discover the cheapest and best car insurance for young drivers, you will need to consider not only your age, but the state you live in, your deductible and coverage limits, and what discount programs you may be eligible for.
GEICO is widely available and most commonly offers the cheapest full coverage car insurance for young drivers. To make your policy even more affordable, GEICO offers a variety of discount programs, including student discounts for those with good grades. GEICO also offers easy digital accessibility and utilizes a mobile app that allows you to quickly manage your insurance, pay your bill, make and track the progress of a claim, and more.
The national average cost of full coverage car insurance for senior drivers is $1,334. MoneyGeek data found that the cheapest full coverage car insurance company for seniors is State Farm, with an annual premium of $1,145. GEICO is a close runner-up with an annual premium of $1,151.
The cost of full coverage car insurance as a senior will depend on a few individual factors including age, driving history, credit history, and the state you live in. Review the best cheap car insurance companies for seniors by state and compare different quotes from multiple insurance companies to find the most affordable full coverage rate for you.
MoneyGeek found that GEICO is also the cheapest widely-available insurer for full coverage after a ticket at an average cost of $1,265 per year. 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, the cost increase with a ticket is $759 per year.
GEICO's average full coverage rate of $1,265 after a speeding ticket is the most affordable for most drivers when compared to other companies. 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.
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 after a speeding ticket.
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, we found that the average rate increase is $1,130 more per year.
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. 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.
Most rates on this page are for a 50/100/50 policy described in our methodology, but if you increase your liability limits to 100/300/100, we found that GEICO is the cheapest option, with rates averaging out to $1,047 per year.
How much rates change when altering liability limits will vary from company to company. Even if you're trying to save, on your insurance bill, you should still buy an appropriate amount of liability insurance. Try to determine how much liability car insurance you need before shopping so that you can protect yourself in the event of an accident.
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. And if you're looking to cover your new car against typical wear and tear, GEICO offers Mechanical Breakdown Insurance, a warranty program that few other insurers can match.
Unless you opt for additional insurances such as PIP, GAP, uninsured/underinsured coverage, and other optional coverages listed above, these options are commonly not included in full coverage insurance. In addition, commercial use of your vehicle is typically not covered. This includes ridesharing drivers who work for services such as Uber, Lyft, and DoorDash. Some supplemental coverages may or may not include vehicle customization or accessories, and some may not cover pet injuries unless you purchase a separate pet injury rider.
Full coverage car insurance is not a common legal requirement if you own your car, but can contribute to your peace of mind and ensure that you are protected when you need it most. If you drive a financed or leased vehicle, you will likely be required by your lender to purchase full coverage to protect their investment.
The greatest value of full coverage car insurance is the financial protection of you, and your vehicle as an asset. When determining if full coverage car insurance is a practical investment to protect your vehicle, you'll need to consider the actual cash value of your vehicle, your deductible, and how ready and prepared you are to cover the cost of repairs or medical bills.
Full coverage car insurance decreases in value as an investment as your vehicle ages, increases miles, and decreases in worth. Experts recommend that if your annual full coverage payment is lower than 10% of the value of your car, a full coverage policy may be a worthy investment.
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:
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.
Every car insurance provider offers their own discount options. When comparing providers, its important to consider the discounts most applicable to you. Taking advantage of discounts can help you to find affordable coverage that suits your budget. Student discounts are available for teens and college students. Taking a defensive driving course can also bring down your premiums. For homeowners, you may look into a home and auto bundle that will allow you to save on both premiums.
MoneyGeek's data finds that GEICO has the cheapest full coverage insurance in most states with an average cost of $941 per year. But if you qualify for USAA you could get even more savings. Its policies cost an average of $817 per year for our sample driver. For those with motorcycles, both Progressive and Dairyland offer the cheapest full coverage motorcycle insurance policies at $267 per year.
Across nine cheap major insurance companies offering full coverage, the average cost of a policy is $1,232 per year. For those same insurers, the average cost of state-minimum car insurance is $709 per year. So buying a full coverage policy costs drivers an extra $500 per year, on average.
Yes, it is usually cheaper to insure an older car. Cars typically decrease in value as they age. Older and less expensive cars lower the potential payout for the insurance provider, so they offer a lower rate for insuring the vehicle.
No. Comprehensive insurance alone covers damages to a car that did not occur from an accident. This may include damage from fire, extreme weather events, vandalism, or theft. In most cases, full coverage includes comprehensive insurance as well as collision insurance.
Full coverage is the best way to financially protect yourself and your vehicle in the event of an accident or damage to your car. Once you own your car you may choose to lower your insurance premium by dropping full coverage. However, you should take into account if you are ready to cover the cost of damage, repair, and medical bills that you might encounter if you drop your policy and get into an at-fault accident.
Mandy Sleight has been a freelance writer and a licensed insurance producer since 2005. She has extensive knowledge of property and casualty insurance as well as life and health insurance. She writes on topics including insurance, sustainability, budgeting, nutrition and fitness. 041b061a72