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 USAA, Clearcover and Geico are among the best car insurance companies in 2022.
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 , his post may contain references to products from our partners. Here’s an explanation for . Our content is backed by Coverage.com LLC, a licensed entity (NPN: 19966249). For more information, please see our
Bankrate makes finding the best car insurance company easy. We reviewed hundreds of car insurance companies using our proprietary Bankrate Score research method. This method looks at key metrics of car insurance companies that are most impactful to consumers, including average rates, coverage offerings, discounts, accessibility and third-party scores.
Top auto 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:
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.
Our extensive research revealed that these 11 insurers are some of the best car insurance companies available:
| Insurance company | Annual full coverage premium | Monthly full coverage premium |
|---|---|---|
|
USAA
4.9
Bankrate Score
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|
Annual full coverage premium
$1,209
|
Monthly full coverage premium
$101
|
|
Clearcover
4.8
Bankrate Score
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|
Annual full coverage premium
N/A
|
Monthly full coverage premium
N/A
|
|
Geico
4.7
Bankrate Score
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|
Annual full coverage premium
$1,297
|
Monthly full coverage premium
$108
|
|
State Farm
4.7
Bankrate Score
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|
Annual full coverage premium
$1,397
|
Monthly full coverage premium
$116
|
|
Travelers
4.7
Bankrate Score
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|
Annual full coverage premium
$1,447
|
Monthly full coverage premium
$121
|
|
Erie
4.5
Bankrate Score
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|
Annual full coverage premium
$1,321
|
Monthly full coverage premium
$110
|
|
Auto-Owners
4.2
Bankrate Score
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|
Annual full coverage premium
$1,305
|
Monthly full coverage premium
$109
|
|
Amica
4.4
Bankrate Score
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|
Annual full coverage premium
$1,495
|
Monthly full coverage premium
$125
|
|
Nationwide
4.4
Bankrate Score
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|
Annual full coverage premium
$1,383
|
Monthly full coverage premium
$115
|
|
Progressive
4.3
Bankrate Score
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|
Annual full coverage premium
$1,561
|
Monthly full coverage premium
$130
|
|
Allstate
3.7
Bankrate Score
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|
Annual full coverage premium
$2,438
|
Monthly full coverage premium
$203
|
| Insurance company | Annual min coverage premium | Monthly min coverage premium |
|---|---|---|
|
USAA
4.9
Bankrate Score
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|
Annual min coverage premium
$354
|
Monthly min coverage premium
$30
|
|
Clearcover
4.8
Bankrate Score
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|
Annual min coverage premium
N/A
|
Monthly min coverage premium
N/A
|
|
Geico
4.7
Bankrate Score
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|
Annual min coverage premium
$365
|
Monthly min coverage premium
$30
|
|
State Farm
4.7
Bankrate Score
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|
Annual min coverage premium
$456
|
Monthly min coverage premium
$38
|
|
Travelers
4.7
Bankrate Score
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|
Annual min coverage premium
$477
|
Monthly min coverage premium
$40
|
|
Erie
4.5
Bankrate Score
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|
Annual min coverage premium
$476
|
Monthly min coverage premium
$40
|
|
Auto-Owners
4.2
Bankrate Score
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|
Annual min coverage premium
$325
|
Monthly min coverage premium
$27
|
|
Amica
4.4
Bankrate Score
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|
Annual min coverage premium
$444
|
Monthly min coverage premium
$37
|
|
Nationwide
4.4
Bankrate Score
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|
Annual min coverage premium
$549
|
Monthly min coverage premium
$46
|
|
Progressive
4.3
Bankrate Score
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|
Annual min coverage premium
$542
|
Monthly min coverage premium
$45
|
|
Allstate
3.7
Bankrate Score
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|
Annual min coverage premium
$558
|
Monthly min coverage premium
$47
|
*Clearcover overall standing affected by limited data availability.
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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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.
The average annual full 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.
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:
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:
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.
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
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.”
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:
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 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.
