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Best car insurance companies for October 2022

Bankrate’s proprietary research method revealed that USAA, Clearcover and Geico are among the best car insurance companies in 2022. 

Updated Oct 04, 2022
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The best car insurance companies

Bankrate's content team — which includes four licensed insurance agents with a combined 47 years of insurance industry experience — researched hundreds of car insurance companies to find the best of the best. Our insight into the car insurance industry helped us to develop our proprietary Bankrate Score research method, which ranks companies across a number of categories for a total possible score of five points. This analysis takes into account three main categories of factors:

  1. Average rates obtained from Quadrant Information Services and third party scores
  2. Online and digital policy management
  3. State availability and eligibility requirements

We chose these metrics specifically to develop a well-rounded review. Our methodology uniquely helps you get a robust view of each carrier, rather than just focusing on the price.

Compare top-rated auto insurance companies

Our extensive research revealed that these 11 insurers are some of the best car insurance companies available:

USAA
4.9
Bankrate Score
Annual full coverage premium
$1,209
Monthly full coverage premium
$101
Clearcover
4.8
Bankrate Score
Annual full coverage premium
N/A
Monthly full coverage premium
N/A
Geico
4.7
Bankrate Score
Annual full coverage premium
$1,297
Monthly full coverage premium
$108
State Farm
4.7
Bankrate Score
Annual full coverage premium
$1,397
Monthly full coverage premium
$116
Travelers
4.7
Bankrate Score
Annual full coverage premium
$1,447
Monthly full coverage premium
$121
Erie
4.5
Bankrate Score
Annual full coverage premium
$1,321
Monthly full coverage premium
$110
Auto-Owners
4.2
Bankrate Score
Annual full coverage premium
$1,305
Monthly full coverage premium
$109
Amica
4.4
Bankrate Score
Annual full coverage premium
$1,495
Monthly full coverage premium
$125
Nationwide
4.4
Bankrate Score
Annual full coverage premium
$1,383
Monthly full coverage premium
$115
Progressive
4.3
Bankrate Score
Annual full coverage premium
$1,561
Monthly full coverage premium
$130
Allstate
3.7
Bankrate Score
Annual full coverage premium
$2,438
Monthly full coverage premium
$203
USAA
4.9
Bankrate Score
Annual min coverage premium
$354
Monthly min coverage premium
$30
Clearcover
4.8
Bankrate Score
Annual min coverage premium
N/A
Monthly min coverage premium
N/A
Geico
4.7
Bankrate Score
Annual min coverage premium
$365
Monthly min coverage premium
$30
State Farm
4.7
Bankrate Score
Annual min coverage premium
$456
Monthly min coverage premium
$38
Travelers
4.7
Bankrate Score
Annual min coverage premium
$477
Monthly min coverage premium
$40
Erie
4.5
Bankrate Score
Annual min coverage premium
$476
Monthly min coverage premium
$40
Auto-Owners
4.2
Bankrate Score
Annual min coverage premium
$325
Monthly min coverage premium
$27
Amica
4.4
Bankrate Score
Annual min coverage premium
$444
Monthly min coverage premium
$37
Nationwide
4.4
Bankrate Score
Annual min coverage premium
$549
Monthly min coverage premium
$46
Progressive
4.3
Bankrate Score
Annual min coverage premium
$542
Monthly min coverage premium
$45
Allstate
3.7
Bankrate Score
Annual min coverage premium
$558
Monthly min coverage premium
$47

*Clearcover overall standing affected by limited data availability.

Advertising Disclosure
This advertisement is powered by Coverage.com, LLC, a licensed insurance producer (NPN: 19966249) and a corporate affiliate of Bankrate. The offers and links that appear on this advertisement are from companies that compensate Coverage.com in different ways. The compensation received and other factors, such as your location, may impact what offers and links appear, and how, where and in what order they appear. While we seek to provide a wide range of offers, we do not include every product or service that may be available. Our goal is to keep information accurate and timely, but some information may not be current. Your actual offer from an advertiser may be different from the offer on this advertisement. All offers are subject to additional terms and conditions.

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Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in states where it is licensed. Coverage.com may not offer insurance coverage in all states or scenarios. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way.

Best car insurance company overall

J.D. Power:
909 /1,000
AM Best:
A ++
Avg. annual premium for minimum coverage:
$ 354
Avg annual premium for full coverage:
$ 1,209
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Best car insurance company for digital presence

J.D. Power:
Not rated
AM Best:
A -
Avg. annual premium for minimum coverage:
N/A
Avg annual premium for full coverage:
N/A
Get a personalized quote

Answer a few questions to see personalized rates from top carriers

Best car insurance company for driving incidents

J.D. Power:
881 /1,000
AM Best:
A ++
Avg. annual premium for minimum coverage:
$ 365
Avg annual premium for full coverage:
$ 1,297
Get a personalized quote

Answer a few questions to see personalized rates from top carriers

Best car insurance company overall

J.D. Power:
892 /1,000
AM Best:
A ++
Avg. annual premium for minimum coverage:
$ 456
Avg annual premium for full coverage:
$ 1,397
Get a personalized quote

Answer a few questions to see personalized rates from top carriers

Best car insurance company for personalized coverage

J.D. Power:
871 /1,000
AM Best:
A ++
Avg. annual premium for minimum coverage:
$ 477
Avg annual premium for full coverage:
$ 1,447
Get a personalized quote

Answer a few questions to see personalized rates from top carriers

Best car insurance company for robust coverage

J.D. Power:
901 /1,000
AM Best:
A +
Avg. annual premium for minimum coverage:
$ 476
Avg annual premium for full coverage:
$ 1,321
Get a personalized quote

Answer a few questions to see personalized rates from top carriers

Best car insurance company for discounts

J.D. Power:
878 /1,000
AM Best:
A ++
Avg. annual premium for minimum coverage:
$ 325
Avg annual premium for full coverage:
$ 1,305
Get a personalized quote

Answer a few questions to see personalized rates from top carriers

Best car insurance company for claims satisfaction

J.D. Power:
895 /1,000
AM Best:
A +
Avg. annual premium for minimum coverage:
$ 444
Avg annual premium for full coverage:
$ 1,495

Best car insurance company for coverage on a budget

J.D. Power:
876 /1,000
AM Best:
A +
Avg. annual premium for minimum coverage:
$ 549
Avg annual premium for full coverage:
$ 1,383
Get a personalized quote

Answer a few questions to see personalized rates from top carriers

Best car insurance company for digital policy management

J.D. Power:
862 /1,000
AM Best:
A +
Avg. annual premium for minimum coverage:
$ 542
Avg annual premium for full coverage:
$ 1,561
Get a personalized quote

Answer a few questions to see personalized rates from top carriers

Best car insurance company for high-value cars

J.D. Power:
870 /1,000
AM Best:
A +
Avg. annual premium for minimum coverage:
$ 558
Avg annual premium for full coverage:
$ 2,438
Get a personalized quote

Answer a few questions to see personalized rates from top carriers

The best auto insurance companies by state

Finding the best car insurance company in your state involves more than looking at average rates. While the average cost of car insurance is an important metric, there are other factors you should consider when choosing the best company. 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. 

Average car insurance cost in each state

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

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Advertising Disclosure
This advertisement is powered by Coverage.com, LLC, a licensed insurance producer (NPN: 19966249) and a corporate affiliate of Bankrate. The offers and links that appear on this advertisement are from companies that compensate Coverage.com in different ways. The compensation received and other factors, such as your location, may impact what offers and links appear, and how, where and in what order they appear. While we seek to provide a wide range of offers, we do not include every product or service that may be available. Our goal is to keep information accurate and timely, but some information may not be current. Your actual offer from an advertiser may be different from the offer on this advertisement. All offers are subject to additional terms and conditions.

Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in states where it is licensed. Coverage.com may not offer insurance coverage in all states or scenarios. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way.

Guide to finding the best car insurance company

Understand 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 injury and damage 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.

Know 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.

Review customer satisfaction metrics

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. 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 satisfaction to 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 the NAIC complaint index: The NAIC keeps a record of customer complaints about insurance companies and compiled 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. 
  • 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.

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:

  1. Shop around: Car insurance companies use unique rating algorithms to determine your premium, so you’ll get a different rate with each carrier.
  2. 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.
  3. 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.
  4. 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.
  5. 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.
  6. 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.

Recent news: Inflation and its effect on car insurance

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.

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: “In 2021, we saw a return to pre-pandemic driving patterns, which led to a significant increase in auto insurance claims and accident severity. In fact, the National Highway Traffic Safety Administration reported an 18.4 percent increase in fatal crashes during the first six months of 2021 compared to the first six months of 2020 — the highest percentage increase on record.”
 

Unfortunately, we will likely continue seeing rate hikes through the remainder of 2022. Friedlander explains: “We expect to see significant rate actions taken by many national and regional insurers during the second half of 2022 as auto insurers are experiencing a large spike in the frequency and severity of auto accidents. As a result, insurers’ loss costs have increased substantially because claim payouts are higher due in part to the escalating prices of auto replacement parts, which have increased by double-digits year-over-year due to supply chain disruption, as well as the rising costs of labor.”

Frequently asked questions about shopping for car insurance

Methodology

To provide an easy-to-use shopping and comparison tool for consumers, we calculated 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 2021 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
J.D. Power scores

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.

Bankrate Score

Bankrate Scores primarily reflect a weighted rank of industry-standard ratings for financial strength and customer experience in addition to analysis of quoted annual premiums from Quadrant Information Services, spanning all 50 states and Washington, D.C. We know it is important for drivers to be confident their financial protection covers the likeliest risks, is priced competitively and is provided by a financially sound company with a history of positive customer support and claims-paying ability. In our evaluation, third-party ratings from J.D. Power, AM Best, Standard & Poor’s, National Association of Insurance Commissioners and Moodys had a significant impact on the companies’ Bankrate Scores.

Our top picks for “best for” reflect a combination of Bankrate Scores and availability to drivers around the country, in addition to the specific qualities associated with each company.

*Scores reflect the company’s performance in states available.

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Written by
Cate Deventer
Insurance Writer & Editor
Cate Deventer is a writer, editor and insurance professional with over a decade of experience in the insurance industry as a licensed insurance agent.
Edited by Insurance Editor
Reviewed by Director of corporate communications, Insurance Information Institute