Best car insurance company overall
- J.D. Power:
- 874 /1,000
- AM Best:
- A ++
- Avg. annual premium for minimum coverage:
- $ 373
- Avg annual premium for full coverage:
- $ 1,353
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.
Bankrate’s proprietary research method revealed that Geico, Amica and USAA are among the best car insurance companies in 2023.
At Bankrate, we strive to help you make smarter financial decisions. To help readers understand how insurance affects their finances, we have licensed insurance professionals on staff who have spent a combined 47 years in the auto, home and life insurance industries. While we adhere to strict , this post may contain references to products from our partners. Here’s an explanation of . Our content is backed by Coverage.com LLC, a licensed entity (NPN: 19966249). For more information, please see our
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:
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:
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Insurance carrier | Avg. estimated premium | Customer satisfaction | |
---|---|---|---|
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$-/mo
$-/yr |
J.D. Power score | Learn more |
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.
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.
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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
4.4
Bankrate Score
|
Average monthly premium
$113
|
Average annual premium
$1,353
|
What it may be best for
Best overall
|
Amica
4.4
Bankrate Score
|
Average monthly premium
$122
|
Average annual premium
$1,467
|
What it may be best for
Best overall
|
USAA
4.3
Bankrate Score
|
Average monthly premium
$113
|
Average annual premium
$1,361
|
What it may be best for
Best for military-focused coverage
|
Safeco
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
4.2
Bankrate Score
|
Average monthly premium
$113
|
Average annual premium
$1,361
|
What it may be best for
Best for discounts
|
State Farm
4.2
Bankrate Score
|
Average monthly premium
$123
|
Average annual premium
$1,480
|
What it may be best for
Best for local agencies
|
Progressive
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
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
4.0
Bankrate Score
|
Average monthly premium
$129
|
Average annual premium
$1,551
|
What it may be best for
Best for personalized coverage
|
NJM
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
|
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.
Insurance company | Average monthly premium | Average annual premium | What it may be best for |
---|---|---|---|
Geico
4.4
Bankrate Score
|
Average monthly premium
$31
|
Average annual premium
$373
|
What it may be best for
Best overall
|
Amica
4.4
Bankrate Score
|
Average monthly premium
$36
|
Average annual premium
$429
|
What it may be best for
Best overall
|
USAA
4.3
Bankrate Score
|
Average monthly premium
$31
|
Average annual premium
$371
|
What it may be best for
Best for military-focused coverage
|
Safeco
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
4.2
Bankrate Score
|
Average monthly premium
$27
|
Average annual premium
$325
|
What it may be best for
Best for discounts
|
State Farm
4.2
Bankrate Score
|
Average monthly premium
$39
|
Average annual premium
$464
|
What it may be best for
Best for local agencies
|
Progressive
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
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
4.0
Bankrate Score
|
Average monthly premium
$41
|
Average annual premium
$495
|
What it may be best for
Best for personalized coverage
|
NJM
4.1
Bankrate Score
|
Average monthly premium
$30
|
Average annual premium
$357
|
What it may be best for
Best for coverage on a budget
|
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
Best car insurance company overall
Best car insurance company for military-focused coverage
Best car insurance company for added perks
Best car insurance company for discounts
Best car insurance company for local agents
Best car insurance company for digital policy management
Best car insurance company for coverage on a budget
Best car insurance company for bundling numerous products
Best car insurance company for personalized coverage
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.
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.
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.
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.
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.
Other factors exist that significantly influence your car insurance company options. Each insurance company has underwriting metrics that affect your eligibility and rate.
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.
Bankrate talked to three experts in the car insurance industry to get their takes on the current environment.
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.”
Director of Corporate Communications at the Insurance Information Institute
Assistant Vice President of State Affairs for National Association of Mutual Insurance Companies
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."