What are the most popular car insurance companies?

The most popular car insurance companies are State Farm, Geico (which is owned by Berkshire Hathaway) and Allstate, according to market share data. These three companies combined write just over 44 percent of the total auto insurance premiums in the United States. However, the most popular companies may not be the best companies for your specific needs. The companies we researched for this article could be a great starting point, as they offer a good mix of affordable rates, high customer satisfaction scores, and robust coverage and discount options.

Which car insurance company has the cheapest rates?

Of the companies on our list, NJM and Geico have the lowest average full coverage premiums. While these carriers may offer low average rates, they still might not be the cheapest for you. Your premium will depend on your individual rating factors, which include your driving history, the type of car you drive and the state you live in. Getting and comparing quotes from several insurers, taking advantage of discounts and maintaining a clean driving record might help you find the cheapest car insurance company for your situation.

What is the best car insurance company for young drivers?

Choosing the best car insurance company can be a little more difficult when you have the needs of multiple drivers to consider, especially young adults, who don’t have as much experience on the road as older drivers. Bankrate found that Auto-Owners, Geico and Nationwide may all be good options for young adults, but the company that works best for you and your family will vary based on your specific needs. Shopping around and comparing quotes can be even more impactful when you have a young driver on your policy, since rates tend to be higher for this age group.

What car insurance company has the best customer satisfaction?

Based on data from the 2022 J.D. Power U.S. Auto Insurance Study, USAA tends to have the highest customer satisfaction ratings. However, it doesn’t qualify for official ranking due to eligibility requirements. Geico and State Farm generally have above-average ratings, but ranks vary by region. Additionally, the best customer service could mean something different to different policyholders. If you prefer having a local agent, you probably won’t be happy with an all-digital company. Understanding your preferences and choosing a carrier can go a long way toward a good service experience.

Which company has the most complaints?

State Farm, a far more established carrier and the largest auto insurer in the nation, received the highest number of complaints at 1,521, but has a Complaint Index of 0.67 for its auto product, likely due to the carrier’s larger size.

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Best car insurance companies for January 2023

Bankrate’s proprietary research method revealed that Geico, Amica and USAA are among the best car insurance companies in 2023.

Written by

Cate Deventer

Edited by

Mariah Posey

Reviewed by

Mark Friedlander

Updated Jan 23, 2023

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What To Know First

Bankrate's content team — which includes four licensed insurance agents with a combined 47 years of insurance industry experience — researched 122 car insurance companies to find the best of the best. Our analysis takes into account four main categories:

Average rates obtained from Quadrant Information Services
Third-party customer satisfaction scores and financial strength ratings
Online and digital policy management
State availability and eligibility requirements

We chose these metrics to provide a well-rounded review of each company so drivers can know where to start their search for the best car insurance company. Our review also highlights standout discounts with each company to help drivers know how to maximize their premium savings when car insurance costs keep rising. Keep in mind, though, that discount percentages and eligibility requirements vary based on state regulations, driver profiles and company.

The best car insurance companies:

Geico
Amica
USAA
Safeco
Auto-Owners
State Farm
Progressive
New Jersey Manufacturers
Liberty Mutual
Travelers

The best car insurance companies in January 2023
The top 10 car insurance companies
The best auto insurance companies by state
What are the different types of car insurance?
What factors affect your car insurance options?
Learn how to find the best rates on car insurance
What customer satisfaction metrics should you consider?
Car insurance industry trends
Frequently asked questions
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The best car insurance companies in January 2023

The best car insurance companies offer rates, coverage options, discounts, third-party scores and digital tools that fit your individual needs. Our research revealed that these 10 insurers are some of the best car insurance companies available. We’ve highlighted each company’s standout feature to help you decide which insurer fits your specific needs. Your car insurance needs are unique to your situation, so understanding those needs and shopping around can be an important step when looking for the best car insurance.

Insurance company	Average monthly premium	Average annual premium	What it may be best for
Geico Rating: 4.4 stars out of 5 4.4 Bankrate Score	Average monthly premium $113	Average annual premium $1,353	What it may be best for Best overall
Amica Rating: 4.4 stars out of 5 4.4 Bankrate Score	Average monthly premium $122	Average annual premium $1,467	What it may be best for Best overall
USAA Rating: 4.2 stars out of 5 4.2 Bankrate Score	Average monthly premium $113	Average annual premium $1,361	What it may be best for Best for military-focused coverage
Safeco Rating: 4.3 stars out of 5 4.3 Bankrate Score	Average monthly premium N/A	Average annual premium N/A	What it may be best for Best for added perks
Auto-Owners Rating: 4.2 stars out of 5 4.2 Bankrate Score	Average monthly premium $113	Average annual premium $1,361	What it may be best for Best for discounts
State Farm Rating: 4.2 stars out of 5 4.2 Bankrate Score	Average monthly premium $123	Average annual premium $1,480	What it may be best for Best for local agencies
Progressive Rating: 4.2 stars out of 5 4.2 Bankrate Score	Average monthly premium $137	Average annual premium $1,642	What it may be best for Best for digital policy management
Liberty Mutual Rating: 4.1 stars out of 5 4.1 Bankrate Score	Average monthly premium N/A	Average annual premium N/A	What it may be best for Best for bundling numerous discounts
Travelers Rating: 4 stars out of 5 4.0 Bankrate Score	Average monthly premium $129	Average annual premium $1,551	What it may be best for Best for personalized coverage
NJM Rating: 4.1 stars out of 5 4.1 Bankrate Score	Average monthly premium $102	Average annual premium $1,229	What it may be best for Best for coverage on a budget

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Insurance company	Average monthly premium	Average annual premium	What it may be best for
Geico Rating: 4.4 stars out of 5 4.4 Bankrate Score	Average monthly premium $31	Average annual premium $373	What it may be best for Best overall
Amica Rating: 4.4 stars out of 5 4.4 Bankrate Score	Average monthly premium $36	Average annual premium $429	What it may be best for Best overall
USAA Rating: 4.2 stars out of 5 4.2 Bankrate Score	Average monthly premium $31	Average annual premium $371	What it may be best for Best for military-focused coverage
Safeco Rating: 4.3 stars out of 5 4.3 Bankrate Score	Average monthly premium N/A	Average annual premium N/A	What it may be best for Best for added perks
Auto-Owners Rating: 4.2 stars out of 5 4.2 Bankrate Score	Average monthly premium $27	Average annual premium $325	What it may be best for Best for discounts
State Farm Rating: 4.2 stars out of 5 4.2 Bankrate Score	Average monthly premium $39	Average annual premium $464	What it may be best for Best for local agencies
Progressive Rating: 4.2 stars out of 5 4.2 Bankrate Score	Average monthly premium $46	Average annual premium $553	What it may be best for Best for digital policy management
Liberty Mutual Rating: 4.1 stars out of 5 4.1 Bankrate Score	Average monthly premium N/A	Average annual premium N/A	What it may be best for Best for bundling numerous discounts
Travelers Rating: 4 stars out of 5 4.0 Bankrate Score	Average monthly premium $41	Average annual premium $495	What it may be best for Best for personalized coverage
NJM Rating: 4.1 stars out of 5 4.1 Bankrate Score	Average monthly premium $30	Average annual premium $357	What it may be best for Best for coverage on a budget

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How Bankrate picked the best auto insurance companies

We used our car insurance expertise and extensive data to assess the insurance industry's landscape to provide an easy-to-use shopping and comparison tool for consumers. Along with reviewing each company’s coverage options, discounts, digital features and third-party scores, we used Quadrant Information Services to obtain up-to-date average rate information for both full and minimum coverage. We combined this information into a Bankrate Score out of 5.0 total points. The higher a company’s Bankrate Score, the more competitively that company ranked in each scoring category. Our picks highlight auto insurers that:

Generate a 4.0 or higher Bankrate Score
Earn a J.D. Power claims satisfaction score within 20 points of the industry average or higher in the 2022 U.S. Auto Claims Satisfaction Study
Carry an “Excellent” or “Superior” financial strength rating from AM Best
Have a strong digital presence with a consumer-friendly mobile app or digital policy management features
Are deemed by Bankrate to be the best in a particular market category

years of industry expertise

122

carriers reviewed

quotes analyzed

34.5K

zip codes examined

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The top 10 car insurance companies

Best car insurance company overall

Geico

4.4 Bankrate Score

Geico Insurance Review Get a personalized quote

J.D. Power:: 874 /1,000
AM Best:: A ⁺⁺
Avg. annual premium for minimum coverage:: ^$ 373
Avg annual premium for full coverage:: ^$ 1,353

Why this company made our list: Geico’s long history as a trusted, household-name auto insurer is reflected in its high Bankrate Score. Coverage is available for virtually every type of driver, making its car insurance coverage generally accessible, even for consumers with blemished driving histories.

Why Geico is best overall: Geico’s low average premiums, combined with its long list of discounts, make it an attractive option, especially as inflation squeezes household budgets and car insurance costs continue to rise. Geico also offers strong digital tools and above-average claims satisfaction from J.D. Power.
Pros
May be available to high-risk drivers

Robust digital app and mobile tools

Offers an array of discounts

Lower-than-average rates for most driving profiles

Offers a telematics program called DriveEasy
Cons
Customer service scores vary by region

Fewer coverage options than most competitors

Fewer in-person local agents compared to other car insurance companies

Fewer additional products offered when compared to other carriers

Additional products are underwritten by third parties
- Long list of potential discounts
- DriveEasy telematics program
- Robust digital tools
- Nationwide availability
- Offers coverage to drive in Mexico

Geico Insurance Review Get a personalized quote

Best car insurance company overall

Amica

4.4 Bankrate Score

Amica Insurance Review

J.D. Power:: 903 /1,000
AM Best:: A ⁺
Avg. annual premium for minimum coverage:: ^$ 429
Avg annual premium for full coverage:: ^$ 1,467

Why this company made our list: Amica’s exceptional claims service and customer-centric business model make it a standout choice for drivers seeking the best auto insurance company, based on Bankrate’s analysis. You can learn more about Amica at www.amica.com or by calling 1-800-242-6422.

Why Amica is best overall: Amica earned the highest official ranking in the latest J.D. Power claims satisfaction study. Customer representatives are also available to support policyholders 24/7. Amica also offers a robust array of coverage options and discounts to help you personalize your policy.
Pros
Higher-than-average J.D. Power claims satisfaction score

Platinum Choice auto package offers robust coverage options

Unique optional dividend policies are available

Lower-than-average rates

Live chat option available online
Cons
No ridesharing coverage option is available

Not available in Hawaii

Below-average digital shopping and service score from J.D. Power

Slightly higher-than-average NAIC Complaint Index for private passenger auto product

few local offices
- Exceptional claims handling satisfaction according to J.D. Power
- Robust online claim center
- Dividend policies available
- Loyalty discount available if you’ve maintained a policy for at least two years
- Platinum Choice Auto policy offers several perks

Amica Insurance Review

Best car insurance company for military-focused coverage

USAA

4.2 Bankrate Score

USAA Insurance Review Get a personalized quote

J.D. Power:: 890 /1,000
AM Best:: A ⁺⁺
Avg. annual premium for minimum coverage:: ^$ 371
Avg annual premium for full coverage:: ^$ 1,361

Why this company made our list: USAA is a top scorer in J.D. Power customer satisfaction surveys (although it doesn’t qualify for official ranking due to its eligibility requirements), has impeccable ratings with several financial strength rating institutions and provides some of the lowest-priced auto insurance quotes in the industry, on average. However, USAA is only available to active-duty military, veterans and their eligible family members.

Why USAA is best for military-focused coverage: USAA earns top marks from all major third-party rating agencies for customer service and financial strength. Coupled with having a lower-than-average full coverage premium, USAA is a powerhouse. Customers can access multiple coverage options, benefits and discounts, including unique circumstances like deployment for active-duty members. While not all drivers qualify for coverage from USAA, the company is a standout for millions of military families across the country.
Pros
Excellent J.D. Power customer service scores

Superior AM Best financial strength rating

Low average rates

Military-focused coverage options

Offers a telematics program called SafePilot
Cons
Below-average J.D. Power claims satisfaction score

Below-average J.D. Power customer satisfaction scores

No online quoting option

May offer fewer discounts than competitors

Doesn’t offer 24/7 customer support
- Claims Free Cash Back perk
- RightTrack telematics program
- Guaranteed Repair Network
- Diminishing deductible option
- Sold by local, independent agents

USAA Insurance Review Get a personalized quote

Best car insurance company for added perks

Safeco

4.3 Bankrate Score

Safeco Insurance Review Get a personalized quote

J.D. Power:: 865 /1,000
AM Best:: A
Avg. annual premium for minimum coverage:: N/A
Avg annual premium for full coverage:: N/A

Why this company made our list: Although average rates aren’t available for Safeco, the company offers numerous perks that may pique your interest. From its extensive list of unique add-on coverage options to the fact that it is sold by knowledgeable local agents, you may want to consider Safeco if you value additional perks in your car insurance policy.

Why Safeco is best for added perks: Safeco offers a ton of value to consumers with options like its Claims Free Cash Back program, which could pay you back a portion of your premium if you are claims-free for six months. The company also offers a Guaranteed Repair Network for auto claims in most states. If you get your vehicle repaired at a Safeco-approved shop after a covered loss, your repairs will be guaranteed for as long as you own the vehicle.
Pros
Claims Free Cash Back option may help you recoup premium

Offers a Guaranteed Repair Network for auto damages

Numerous endorsements

Robust digital tools

Sold by local agents
Cons
Below-average J.D. Power claims satisfaction score

Below-average J.D. Power customer satisfaction scores

No online quoting option

May offer fewer discounts than competitors

Doesn’t offer 24/7 customer support
- Claims Free Cash Back perk
- RightTrack telematics program
- Guaranteed Repair Network
- Diminishing deductible option
- Sold by local, independent agents

Safeco Insurance Review Get a personalized quote

Best car insurance company for discounts

Auto-Owners

4.2 Bankrate Score

Auto-Owners Insurance Review Get a personalized quote

J.D. Power:: 865 /1,000
AM Best:: A ⁺⁺
Avg. annual premium for minimum coverage:: ^$ 325
Avg annual premium for full coverage:: ^$ 1,361

Why this company made our list: Auto-Owners is another carrier with a strong reputation for providing excellent auto coverage at a competitive price. Its wide range of coverage and discount options are available to drivers in 26 states through a distribution network of independent agents.

Why Auto-Owners is best for discounts: Auto-Owners offers an impressive menu of 12 discounts, which many drivers are likely eligible to receive. Drivers could save by getting a quote ahead of their current policy’s expiration, or by opting for paperless billing and payment options. The company provides three types of student discounts, making it a great option for parents of teens or young drivers who have their own policy to consider.
Pros
Several discounts available

Superior AM Best financial strength rating

Numerous endorsements available

Lower-than-average premium

Can get an auto discount for bundling a life insurance policy
Cons
Only available in 26 states

No online quoting

No online claims filing

Lower-than-average claims satisfaction score from J.D. Power

Lower-than-average digital service score from J.D. Power
- Offers an auto insurance discount for having a qualifying life insurance policy
- Three discounts geared toward young drivers
- Personal Automobile Plus package includes 10 helpful endorsements
- Offers diminished value coverage
- Sold by independent agents

Auto-Owners Insurance Review Get a personalized quote

Best car insurance company for local agents

State Farm

4.2 Bankrate Score

State Farm Insurance Review Get a personalized quote

J.D. Power:: 882 /1,000
AM Best:: A ⁺⁺
Avg. annual premium for minimum coverage:: ^$ 464
Avg annual premium for full coverage:: ^$ 1,480

Why this company made our list: As the largest national auto insurer based on market share, State Farm's reach and reputation highlight the carrier as one of the best auto insurance companies for drivers in most states. Its extensive local agent network showcases its customer-first approach to providing consumers with various personal and commercial insurance products.

Why State Farm is best for local agents: State Farm boasts over 19,000 licensed insurance professionals, available in communities across the U.S., who can offer guidance to those who value expert insight when discussing their policy. Digital management options allow for an on-the-go approach, including a mobile app where you can file auto claims and contact your agent.
Pros
Large network of exclusive local agents

Superior financial strength

Steer Clear teen driver program could help young drivers save

Offers a telematics program called Drive Safe & Save

Above-average J.D. Power claims satisfaction score
Cons
May not be available to high-risk drivers

Higher-than-average overall NAIC Complaint Index

Not sold in all 50 states

Accident forgiveness must be “earned;” cannot be purchased

Auto policies are generally six-month terms, meaning rates could increase twice a year
- Knowledgeable, local agents available in most communities
- Two safe driving programs — Drive Safe & Save and Steer Clear
- Numerous discounts offered
- Sells many other kinds of insurance
- Also offers banking and investment products

State Farm Insurance Review Get a personalized quote

Best car insurance company for digital policy management

Progressive

4.2 Bankrate Score

Progressive Insurance Review Get a personalized quote

J.D. Power:: 861 /1,000
AM Best:: A ⁺
Avg. annual premium for minimum coverage:: ^$ 553
Avg annual premium for full coverage:: ^$ 1,642

Why this company made our list: Progressive’s handy rate tools help secure it as one of our best auto insurance selections. Consumers can find options to save based on their own budget and driving habits with a Progressive policy anywhere in the U.S., backed by a financially strong company that generally earns high ratings from third-party agencies.

Why Progressive is best for digital policy management: Progressive provides several ways for drivers to save time and money by managing their policy online, such as its Snapshot app, a usage-based telematics program that monitors driving and offers discounts for safe driving. When deciding the right policy for you, you can use its online Name Your Price tool to personalize your buying experience and review coverage options based on your budget. The Progressive mobile app offers instant access to review coverage, ID cards, bill payment and claims submissions.
Pros
Strong digital tools

Coverage options for numerous types of vehicles

Several discount opportunities available

May have options for high-risk drivers

SR-22 filings are available
Cons
Below-average J.D. Power claims satisfaction score

Customer satisfaction scores vary by region

Rates may vary between online and agency quotes

Just above-average NAIC Complaint Index for private passenger auto product

Snapshot telematics program can raise rates for less-safe drivers
- Snapshot telematics program
- Name Your Price shopping tool
- AutoQuote Explorer lets you compare rates from multiple companies
- Online quote and sign online discounts
- Offers numerous other insurance products

Progressive Insurance Review Get a personalized quote

Best car insurance company for coverage on a budget

NJM

4.1 Bankrate Score

NJM Insurance Review Get a personalized quote

J.D. Power:: 896 /1,000
AM Best:: A ⁺
Avg. annual premium for minimum coverage:: ^$ 357
Avg annual premium for full coverage:: ^$ 1,229

Why this company made our list: Although it’s only available in five states (Connecticut, Maryland, New Jersey, Ohio, and Pennsylvania), New Jersey Manufacturers (also called NJM) is an impressive insurer. The company earned the second-highest official ranking for claims satisfaction from J.D. Power, offers low average rates and has local agents available for its customers.

Why NJM is best for coverage on a budget: NJM’s average rates tend to be much lower than the national average. Additionally, the company offers an impressive list of discounts, many of which are tailored to the individual states it serves. NJM even offers a discount for full coverage car insurance policies, which means you may get more coverage for a lower price than you would elsewhere.
Pros
Low average rates

Long list of discounts

Sold by local agents

Below-average private passenger NAIC Complaint Index

Above-average J.D. Power claims satisfaction score
Cons
Only available in five states

Digital tools are limited

No mobile app

No 24/7 customer support

Discount availability varies by state
- Offers coverage for trailer and camper bodies
- Transportation Network Companies (ridesharing) endorsement is extensive
- Quotes offered online, by phone or in a local agency
- Has insurance options for classic and collector cars
- Offers limited pet coverage for pet injuries sustained in auto accidents

NJM Insurance Review Get a personalized quote

Best car insurance company for bundling numerous products

Liberty Mutual

4.1 Bankrate Score

Liberty Mutual Insurance Review Get a personalized quote

J.D. Power:: Not rated
AM Best:: A
Avg. annual premium for minimum coverage:: N/A
Avg annual premium for full coverage:: N/A

Why this company made our list: Liberty Mutual’s extensive endorsement and discount options, coupled with its digital tools and local offices, helped it to stand out from the crowd. Average rates aren’t available, though, so you may want to request a quote to find out if the company is within your budget.

Why Liberty Mutual is best for bundling numerous products: Liberty Mutual offers a long list of insurance products, including auto, home, umbrella, life, pet, small business and identity theft. If you like to keep your insurance products in one place for ease of management, Liberty Mutual might be a good fit.
Pros
Offers numerous insurance products

Strong digital tools

Local agencies available

Numerous discounts

Extensive list of endorsements
Cons
Below-average J.D. Power claims satisfaction score

Below-average J.D. Power digital shopping and service scores

Below-average J.D. Power customer satisfaction scores in most regions

Above-average private passenger NAIC Complaint Index

Doesn’t offer 24/7 customer support
- Sells multiple insurance products
- Local agencies available
- Offers a military discount
- Offers specialized coverage for teachers
- Sells coverage to drive in Mexico

Liberty Mutual Insurance Review Get a personalized quote

Best car insurance company for personalized coverage

Travelers

4 Bankrate Score

Travelers Insurance Review Get a personalized quote

J.D. Power:: 854 /1,000
AM Best:: A ⁺⁺
Avg. annual premium for minimum coverage:: ^$ 495
Avg annual premium for full coverage:: ^$ 1,551

Why this company made our list: Travelers has over 150 years of experience in the auto insurance industry. Its strong independent agent network, numerous endorsement options, robust savings opportunities and proven financial track record make it a worthwhile option for drivers nationwide.

Why Travelers is best for personalized coverage: Travelers offers many ways to personalize coverage to specific needs. Options like new car replacement, accident forgiveness, rideshare coverage and gap coverage may increase premiums but also provide increased financial protection for a broader range of incidents. Customers do not rank Travelers’ claims satisfaction as highly when compared to other companies Bankrate analyzed, which may be worth considering.
Pros
National independent agent network

Competitive discounts

Numerous policy options

Superior AM Best financial strength rating

Lower-than-average private passenger NAIC Complaint Index
Cons
Lower-than-average J.D. Power claims satisfaction score

Ridesharing coverage is only available in Colorado and Illinois

Below-average digital shopping and service scores from J.D. Power

Only available in 42 states and Washington, D.C.

Higher-than-average overall NAIC complaint index
- Hybrid/electric car discount
- New car replacement endorsement
- Online quotes available
- Travelers Affinity offers special rates if you are affiliated with certain groups
- Sells many other types of coverage, including event and travel insurance

Travelers Insurance Review Get a personalized quote

The best auto insurance companies by state

While we stand by our picks for the top car insurance companies on a national level, it is important to know that the best insurers could vary by state. To determine the best auto insurance company in your state, you’ll likely want to look at more than just each carrier’s average cost of car insurance. Price is only one part of your policy, and while it is important, it’s not the only aspect of a company that you should review. For example, third-party customer satisfaction scores can vary widely between regions, so while you may choose one company in one area, it may not meet your needs in another. Bankrate conducted extensive research into the car insurance markets in all 50 states and Washington, D.C. and evaluated the largest carriers by market share using our proprietary Bankrate Score method. Our research might help you find the best car insurance in your state.

Compare the best car insurance companies by state

The average annual full and minimum coverage auto insurance premium based on a 40-year-old driver with a clean driving record and good credit.

How to find the best auto insurance company for you

Knowing the best car insurance companies nationally and in your state can be a good starting point as you start to shop for coverage, but how do you actually find the best company for you? Every driver has unique needs, and the best car insurance companies overall or the best in a given state may still not be the best option for your situation. Your specific situation could dictate the company, coverage types, discounts and policy features that you need. Understanding your needs is the first step in finding the best car insurance company for you.

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What are the different types of car insurance?

One of the first steps to finding the best auto insurance for you is to understand your needs. That starts with learning about the key coverage options available and how these options work together to provide financial protection.

Bodily injury liability coverage pays for the injuries you cause to others in an at-fault accident.
Property damage liability coverage pays for the damage you cause to another’s vehicle or other property (like a fence, pole or building) in an at-fault accident.
Uninsured and underinsured motorist coverage pay for your injuries (and, in some states, your property damage) if it was caused by a driver who either lacks sufficient coverage or any coverage at all.
Personal injury protection (PIP), also known as no-fault insurance and only available in certain states, pays for medical expenses you and your passengers incur following an accident, regardless of fault. It also accounts for non-medical expenses incurred as a result of an accident, such as lost wages or the cost of childcare.
Medical payments coverage is similar to PIP insurance coverage but includes only payments for medical expenses. It is required in some states and optional in others.
Comprehensive coverage pays for damage to your car caused by non-collision losses like fire, theft, vandalism and storm damage. Comprehensive also pays for damages caused by hitting an animal and cracked windshields.
Collision coverage pays for damages to your vehicle caused by a collision. If you collide with another car, tree, pole, building or pedestrian, your collision coverage is the part of the policy that will pay for the damage to your vehicle.

These are the main types of auto insurance coverage, but there are more types of car insurance coverage available that may be worth discussing with your insurer. For example, you might consider adding gap insurance if you buy a newer car or ridesharing coverage if you drive for a company like Uber or Lyft. Additionally, each state has its own car insurance laws, and each driver is unique. Talking with a licensed agent can help you determine the best auto insurance coverage types and limits for your needs.

What factors affect your car insurance options?

Other factors exist that significantly influence your car insurance company options. Each insurance company has underwriting metrics that affect your eligibility and rate.

Driving record: If you have a history of at-fault accidents, tickets or DUI convictions, you may find fewer companies to choose from since high-risk drivers are not eligible for coverage from every carrier.
Age and driving experience: Younger drivers have less experience on the road, leading to a higher accident frequency. This can often lead to higher car insurance rates. Unless you’re in Hawaii or Massachusetts, which ban age as a rating factor, the best company for drivers insuring young drivers may be ones that offer student or telematics discounts to offset premium increases.
State and city: States have different insurance laws, accident statistics, crime rates and living costs. Because of this, insurance companies may not be available in certain states or even in some cities or ZIP codes.
Vehicle make and model: Each make and model of vehicle has unique features which impact the likelihood of accidents, the severity of accidents and the cost to repair the vehicle itself. Because of this, insurers may not insure certain vehicle types.
Credit-based insurance score: In most states, elements of your credit history are used to determine how likely you are to file a claim, which can affect your rate and eligibility with certain companies.
Insurance lapse history: Because most states require drivers to have at least minimum levels of coverage, insurance lapses can result in higher premiums when you take out a policy again. You may also be considered a higher risk and have fewer options when shopping for car insurance companies.

Learn how to find the best rates on car insurance

Although you can’t control some of the factors that are used to determine your car insurance rate, there are a few things you can do to help secure a competitive rate:

Shop around: Car insurance companies use unique rating algorithms to determine your premium, so you’ll get a different rate with each carrier. Shopping early — up to a month prior to your renewal date — can be helpful, as it allows you time to gather quotes and make a decision. Most companies require at least a month’s down payment, so make sure you account for that in your budget.
Utilize discounts: You may find a lower rate if you get a quote from a company that offers several discounts you can apply to your policy
Participate in a telematics program: Telematics discounts are programs that track your driving habits. If you are a safe driver, you could save on your premium.
Keep a clean driving record: At-fault accidents and tickets are signs that you may engage in risky driving behaviors and can significantly increase your rates.
Consider your vehicle: While not the most practical step for everyone, you could consider shopping for a different vehicle if you need to lower your rates drastically.
Set realistic expectations: For example, if you have a DUI conviction on your record, your version of a competitive premium is likely to be higher than someone with a clean driving record.

What customer satisfaction metrics should you consider?

It may not be as obvious as price or coverage options, but customer satisfaction is just as important as those other metrics when you shop for car insurance. After all, you want to make sure your company is there for you when you need it most — when you file a claim. Third-party rating agencies, which maintain neutrality, provide a basis for understanding a company’s overall level of service, number of complaints and financial strength ratings. These metrics help you gain a deeper view of a carrier’s performance and can help you choose a company based on more than just a quoted rate. This helps ensure you find a carrier that meets all of your needs. To determine a company’s level of service, consider taking these steps:

Look at J.D. Power scores: J.D. Power is a data analytics company that conducts several annual reviews of the car insurance industry, ranging from customer and claims satisfaction to digital tool satisfaction. J.D. Power is a trusted name in the industry, and its ratings — particularly those that apply specifically to your region — could help you choose a carrier based on customer satisfaction.
Consider NAIC Complaint Index: The NAIC keeps a record of customer complaints filed about insurance companies and compiles them into a Complaint Index. A 1.00 Index is the baseline number of complaints expected in a given year. A rating below 1.00 indicates fewer complaints than average, and conversely, a rating above 1.00 indicates more complaints than average.
Review AM Best financial strength ratings: AM Best rates the historical financial strength of various companies, specializing in the insurance industry. A financial strength rating gives you an idea of a company’s past ability to pay claims. A higher financial strength rating may indicate that a company has historically been financially stable.
Talk with current policyholders: If you know someone who has their car insurance with a company you are considering, ask them about their experience. You can ask about general service, billing and payment service, and claims service to get a sense of what it’s like to be insured with that company.

Car insurance industry trends

Inflation has been a headline news story for months, and with good reason. In a Bankrate survey from September 2022, 55 percent of Americans said that their income hasn’t been able to keep up with the increased cost of household expenses, including insurance premiums. Bankrate’s proprietary rate data indicates that the average cost of full coverage car insurance rose from $1,771 per year in 2022 to $2,014 per year in 2023. This is a 14 percent increase, and rates are expected to continue rising throughout 2023. Insurance rates are reactionary — claims get more expensive, and companies increase premiums in response. This means that, even if inflation cools, we’ll likely feel the effects of higher rates for a while.

As premiums continue to rise, it’s important to understand how car insurance costs are affected. If you are facing a premium increase upon your next policy renewal, shopping for a new car insurance company may be worth considering. But the price isn’t everything. As vehicle repairs and medical care costs increase, finding the best coverage for your needs is also crucial. Ensuring you have proper coverage could help reduce the financial risk of being underinsured. Bankrate’s editorial team continues to monitor the insurance industry and speak to industry experts.

Industry experts weigh in

Bankrate talked to three experts in the car insurance industry to get their takes on the current environment.

Adam Pichon

Vice President and General Manager of U.S. Personal Lines Insurance for LexisNexis

When asked about the risk of policyholders being underinsured due to inflation, Adam Pichon states: “Liability claim severity has been rising significantly over the last 10 years or so. Medical costs have been rising very quickly for a long time. So the question is, is your coverage going to be sufficient?”

But many other costs are increasing along with car insurance rates. Bankrate wanted to know if increasing coverage limits to combat inflation could affect car insurance rates. Pichon says: “The prices will vary for every insurance company. You could get 10 times more coverage, but it won’t be 10 times the price.”

Mark Friedlander

Director of Corporate Communications at the Insurance Information Institute

While inflation is increasing car insurance costs, other factors also drive up prices. Mark Friedlander shed light on this: “To remain viable in 2023, auto insurers will have to set premiums at levels appropriate to the risks they cover. Auto premium rates reflect a range of factors related to [the] vehicle, policyholder, location, and vehicle use and how these factors contribute to the insurer’s loss experience.”

Bankrate predicts that rates are likely to continue to rise throughout 2023. Friedlander agrees, saying: “We anticipate average U.S. auto rate increases will run in the high single digits in 2023, with several states incurring double-digit increases. As we saw in 2022, multiple increases could be implemented in some states.”

Jon Schnautz

Assistant Vice President of State Affairs for National Association of Mutual Insurance Companies

We wanted to know if there was an end in sight to higher car insurance rates. Jon Schnautz says: “Unfortunately, leading economists do not anticipate supply chain stabilization until after 2023. Additionally, many of the costs driving auto insurance rates stem from the realities drivers face on the roads, which are both behavioral in nature and constantly fluctuate.”

We also asked what could be done to stop inflation’s effects on car insurance. Schnautz notes: “There is no single solution to the inflationary challenges facing auto insurers. While efforts at tort reform and keeping medical costs in check will help, auto insurers are ultimately subject to many of the same inflationary pressures as other businesses with limited ability to affect meaningful changes to economic reality. However, there are still steps legislators and regulators [might] take to help soften inflationary blows — auto insurers continue to support policies that embrace matching rate to risk, enhance road safety, and consumers’ right to repair their vehicles as they see fit."

Frequently asked questions

The most popular car insurance companies are State Farm, Geico (which is owned by Berkshire Hathaway) and Allstate, according to market share data. These three companies combined write just over 44 percent of the total auto insurance premiums in the United States. However, the most popular companies may not be the best companies for your specific needs. The companies we researched for this article could be a great starting point, as they offer a good mix of affordable rates, high customer satisfaction scores, and robust coverage and discount options.
Of the companies on our list, NJM and Geico have the lowest average full coverage premiums. While these carriers may offer low average rates, they still might not be the cheapest for you. Your premium will depend on your individual rating factors, which include your driving history, the type of car you drive and the state you live in. Getting and comparing quotes from several insurers, taking advantage of discounts and maintaining a clean driving record might help you find the cheapest car insurance company for your situation.
Choosing the best car insurance company can be a little more difficult when you have the needs of multiple drivers to consider, especially young adults, who don’t have as much experience on the road as older drivers. Bankrate found that Auto-Owners, Geico and Nationwide may all be good options for young adults, but the company that works best for you and your family will vary based on your specific needs. Shopping around and comparing quotes can be even more impactful when you have a young driver on your policy, since rates tend to be higher for this age group.
Based on data from the 2022 J.D. Power U.S. Auto Insurance Study, USAA tends to have the highest customer satisfaction ratings. However, it doesn’t qualify for official ranking due to eligibility requirements. Geico and State Farm generally have above-average ratings, but ranks vary by region. Additionally, the best customer service could mean something different to different policyholders. If you prefer having a local agent, you probably won’t be happy with an all-digital company. Understanding your preferences and choosing a carrier can go a long way toward a good service experience.
State Farm, a far more established carrier and the largest auto insurer in the nation, received the highest number of complaints at 1,521, but has a Complaint Index of 0.67 for its auto product, likely due to the carrier’s larger size.

Methodology

Bankrate utilizes Quadrant Information Services to analyze 2023 rates for ZIP codes and carriers in all 50 states and Washington, D.C. Rates are weighted based on the population density in each geographic region. Quoted rates are based on a 40-year-old male and female driver with a clean driving record, good credit and the following full coverage limits:

$100,000 bodily injury liability per person
$300,000 bodily injury liability per accident
$50,000 property damage liability per accident
$100,000 uninsured motorist bodily injury per person
$300,000 uninsured motorist bodily injury per accident
$500 collision deductible
$500 comprehensive deductible

To determine minimum coverage limits, Bankrate used minimum coverage that meets each state’s requirements. Our base profile drivers own a 2021 Toyota Camry, commute five days a week and drive 12,000 miles annually.

These are sample rates and should only be used for comparative purposes.

Additional car insurance ratings methodologies

Our 2023 Bankrate Score considers variables our insurance editorial team determined impacts policyholders’ experiences with an insurance company. These rating factors include a robust assessment of each company’s product availability, financial strength ratings, online capabilities and customer and claims support accessibility. Each factor was added to a category, and these categories were weighted in a tiered approach to analyze how companies perform in key customer-impacting categories.

Like our previous Bankrate Scores, each category was assigned a metric to determine performance, and the weighted sum adds up to a company’s total Bankrate Score — out of 5 points. This year, our 2023 scoring model provides a more comprehensive view, indicating when companies excel across several key areas and better highlighting where they fall short.
Tier 1 (Cost & ratings): To determine how well auto and home insurance companies satisfy these priorities, 2023 quoted premiums from Quadrant Information Services (if available), as well as any of the latest third-party agency ratings from J.D. Power, AM Best and the NAIC, were analyzed.

Tier 2 (Coverage & savings): We assessed companies’ coverage options and availability to help policyholders find a provider that balances cost with coverage. Additionally, we evaluated each company’s discount options listed on its website.

Tier 3 (Support): To encompass the many ways an auto insurance company can support policyholders, we analyzed avenues of customer accessibility along with community support. This analysis incorporated additional financial strength ratings from S&P and Moody’s and factored a company’s corporate sustainability efforts.
J.D. Power is a global market research company that has decades of experience within the automotive, financial and health industries, among others. It conducts annual surveys on customer satisfaction across these sectors to help provide insight into the qualities that matter most between consumers and businesses. Its auto insurance studies take into account customer satisfaction across several categories that impact consumers, including customer service, claims processing, policy offerings and premiums, which make its scores a useful qualitative tool in assessing auto insurers.

Written by

Cate Deventer

Insurance Writer & Editor

Alabama	Alaska	Arizona
Arkansas	California	Colorado
Connecticut	Delaware	Florida
Georgia	Hawaii	Idaho
Illinois	Indiana	Iowa
Kansas	Kentucky	Louisiana
Maine	Maryland	Massachusetts
Michigan	Minnesota	Mississippi
Missouri	Montana	Nebraska
Nevada	New Hampshire	New Jersey
New Mexico	New York	North Carolina
North Dakota	Ohio	Oklahoma
Oregon	Pennsylvania	Rhode Island
South Carolina	South Dakota	Tennessee
Texas	Utah	Vermont
Virginia	Washington	Washington D.C.
West Virginia	Wisconsin	Wyoming

Best car insurance companies for January 2023

What To Know First

On This Page

Compare rates from top carriers in

The best car insurance companies in January 2023

How Bankrate picked the best auto insurance companies

Compare auto insurance rates

The top 10 car insurance companies

Geico

Amica

USAA

Safeco

Auto-Owners

State Farm

Progressive

NJM

Liberty Mutual

Travelers

The best auto insurance companies by state

Compare the best car insurance companies by state

The best car insurance companies in each state

Looking to save money on auto insurance?

What are the different types of car insurance?

What factors affect your car insurance options?

Learn how to find the best rates on car insurance

What customer satisfaction metrics should you consider?

Car insurance industry trends

Industry experts weigh in

Adam Pichon

Mark Friedlander

Jon Schnautz

Frequently asked questions

What are the most popular car insurance companies?

Which car insurance company has the cheapest rates?

What is the best car insurance company for young drivers?

What car insurance company has the best customer satisfaction?

Which company has the most complaints?

Methodology

Additional car insurance ratings methodologies

Bankrate Scores methodology

J.D. Power scores