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Best car insurance companies for May 2022

Updated May 19, 2022

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Car insurance provides a financial safety net and can help protect your finances from losses due to accidents. Auto insurance coverage is vital to your overall financial health, so finding the right company for your needs is an important task. To help you in your search, Bankrate analyzed average quoted premiums, obtained from Quadrant Information Services, for hundreds of insurance companies. We also reviewed available coverage options, discounts, digital resources and third-party customer satisfaction and financial strength ratings in our quest to find the best car insurance companies.

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How to compare the best car insurance companies

When reviewing multiple auto insurance companies, using an apples-to-apples comparison can be helpful. Knowing how to find companies that could meet your needs and how to compare those companies can be an important skill to have. While an average annual premium estimate may be a good initial indicator of how a company will stack up against others, it doesn’t provide the full story. Quotes should ideally include the same coverage levels and types, with the same personal details and vehicle information given to each company. Depending on your preferences, you may also want to review trusted third-party ratings for an additional assessment of a company’s performance, such as J.D. Power customer satisfaction ratings, the National Association of Insurance Commissioners (NAIC) consumer complaint index and financial strength grades from multiple credit rating agencies. This information can be found online, or an insurance agent can help you obtain this type of information about the auto insurers you are interested in.

How Bankrate picked the best auto insurance companies for 2022

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. 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

Compare car insurance companies in May 2022

Summary: best car insurance companies

Company Average annual full coverage premium Who it’s best for Bankrate Score
USAA $1,209 Best overall car insurance company 5.0/5.0
Clearcover* N/A Best for digital presence 5.0/5.0
Geico $1,297 Best for driving incidents 4.7/5.0
State Farm $1,397 Best overall car insurance company 4.7/5.0
Travelers $1,447 Best for personalized coverage 4.7/5.0
Erie $1,321 Best for robust coverage 4.6/5.0
Auto-Owners $1,305 Best for discounts 4.5/5.0
Amica $1,495 Best for claims satisfaction 4.5/5.0
Nationwide $1,383 Best for coverage on a budget 4.4/5.0
Progressive $1,561 Best for digital policy management 4.4/5.0
Allstate $2,438 Best for high-value cars 4.0/5.0

*Overall standing affected by limited data availability

Best car insurance company overall

JD Power:
909 /1000
AM best:
A ++
Avg. annual premium for minimum coverage:
$ 354
Avg annual premium for full coverage:
$ 1209

Why this company made our list: With the highest Bankrate Score of the auto insurers Bankrate analyzed, USAA easily makes our list of best insurance companies for nationwide availability and top tier customer service. Although only available only to current or former military members and their eligible families, USAA is a top scorer in J.D. Power customer satisfaction surveys, has impeccable financial strength as rated by AM Best, S&P and Moody’s, and still manages to provide some of the lowest-priced auto insurance quotes in the industry.

Why USAA is best overall for car insurance: USAA earns top marks from all major third-party rating agencies for customer service and financial strength. Coupled with having the lowest average full coverage premium on our list, customers are privy to multiple coverage options, rewards and discounts, including unique circumstances like deployment for active-duty members. While not all drivers may qualify for coverage from USAA, the company is a standout for millions of military families across the country.

Best car insurance company for digital presence

JD Power:
N/A
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: Clearcover’s technology-driven car insurance is reinventing the insurance landscape, making it a clear contender for any driver seeking the best modern auto insurance experience compared to other car insurance companies. The insurtech company’s digital approach allows it to sell highly affordable policies.

Why Clearcover is best for digital presence: Although only currently available to drivers in 20 states, Clearcover is disrupting the auto insurance market by putting technology in the spotlight. The carrier uses artificial intelligence-based digital tools to its advantage, revamping how car insurance is quoted, purchased and serviced. Clearcover’s highly-rated mobile app puts control over managing policies directly in users’ hands. The streamlined approach enables Clearcover to pay most auto claims in less than a week, with some even being eligible for same-day processing.

Best car insurance company for driving incidents

JD Power:
871 /1000
AM best:
A ++
Avg. annual premium for minimum coverage:
$ 354
Avg annual premium for full coverage:
$ 1297

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

Why Geico is best for driving incidents: Geico is one of the few top auto insurance companies that will write policies for drivers even after high-risk incidents, such as DUI convictions. While high-risk policies are generally more expensive, a high-risk driver may also have a harder time finding coverage, especially from major car insurance companies. Geico is an easily-accessible option for most people.

Best car insurance company overall

JD Power:
892 /1000
AM best:
A ++
Avg. annual premium for minimum coverage:
$ 456
Avg annual premium for full coverage:
$ 1397

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 a variety of personal and commercial insurance products to consumers

Why State Farm is best overall for car insurance: State Farm company 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 highly-rated mobile app where you can file auto claims and contact your agent.

Best car insurance company for personalized coverage

JD Power:
871 /1000
AM best:
A ++
Avg. annual premium for minimum coverage:
$ 477
Avg annual premium for full coverage:
$ 1447

Why this company made our list: Travelers is a trusted insurer with over 150 years 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’ average full coverage car insurance rates come in a bit higher than the national average, but that could be because the carrier offers so many ways to customize your coverage to your specific needs. Options like new car replacement, accident forgiveness, rideshare coverage and gap coverage will add more premium to your policy but will also give you financial protection for a broader range of incidents. Travelers’ claims satisfaction is not as highly ranked by customers compared to other companies Bankrate analyzed, which may be worth considering before you purchase a policy.

Best car insurance company for robust coverage

JD Power:
901 /1000
AM best:
A +
Avg. annual premium for minimum coverage:
$ 476
Avg annual premium for full coverage:
$ 1321

Why this company made our list: We included Erie on our list of the best auto insurance companies because this regional insurer is generous with optional coverage types in its policies and scores competitively across all third-party agencies reviewed in our research. Erie also offers discount advantages and competitive rates for young drivers who normally see the highest rates of all driver age groups. Erie’s high Bankrate Score contributes to its position on our list of best auto insurance companies for 2022, although coverage is not available nationally.

Why Erie is best for robust coverage: Erie automatically includes several coverage types and features in its full coverage policies that many competitors only offer as optional add-ons. Drivers can benefit from included rideshare insurance, accident forgiveness and Erie’s Rate Lock feature, which could help keep your premiums consistent over time. While only available in 12 states, the company provides robust coverage and a strong claims experience for drivers in its service areas.

Best car insurance company for discounts

JD Power:
878 /1000
AM best:
A ++
Avg. annual premium for minimum coverage:
$ 325
Avg annual premium for full coverage:
$ 1305

Why this company made our list: Auto-Owners is another carrier with a strong reputation for providing excellent auto coverage and earned the second-highest J.D. Power claims satisfaction rates of any company on our list of best auto insurance companies. Its wide range of coverage and discount options are available to drivers in 26 states.

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.

Best car insurance company for claims satisfaction

JD Power:
895 /1000
AM best:
A +
Avg. annual premium for minimum coverage:
$ 444
Avg annual premium for full coverage:
$ 1495

Why this company made our list: Amica’s standout claims service and customer-centric business model make it a standout choice, based on Bankrate’s analysis, for drivers seeking the best auto insurance company.

Why Amica is best for claims satisfaction: Amica ranks as the second-highest scoring carrier for claims satisfaction out of the top auto insurers surveyed by J.D. Power, earning 32 points above the industry average. The company’s online claim center allows customers to easily report a claim, upload supporting documents and track the claim’s process with a few simple clicks. Its customer representatives are available to support policyholders 24/7.

Best car insurance company for coverage on a budget

JD Power:
876 /1000
AM best:
A +
Avg. annual premium for minimum coverage:
$ 549
Avg annual premium for full coverage:
$ 1383

Why this company made our list: Nationwide’s options to tailor coverage based on personal needs in addition to its low average premium solidify it as a top auto insurance company for 2022, based on Bankrate’s research. With near-nationwide availability and a website full of useful insurance information, customers are likely to find the answers they need to customize a Nationwide policy to their exact needs.

Why Nationwide is best for coverage on a budget: Nationwide’s average annual premium is the second-lowest on our list, only below USAA. However, Nationwide doesn’t restrict coverage to military-affiliated policyholders, so it could be an option for cheap rates if you don’t qualify for USAA. Additionally, the carrier’s SmartRide and SmartMiles telematics programs can help you either earn a discount based on your safe driving habits or provide a flexible premium based on your vehicle usage, respectively. Optional coverage is not as plentiful as some other auto insurers on our list, but personalized options offer valuable control over your financial protection.

Best car insurance company for digital policy management

JD Power:
862 /1000
AM best:
A +
Avg. annual premium for minimum coverage:
$ 542
Avg annual premium for full coverage:
$ 1561

Why this company made our list: Progressive’s handy rate tools and positive customer satisfaction help secure it as one of our best car 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 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, which is a telematics program that monitors driving and offers discounts for safe driving. Even when first deciding what is 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..

Best car insurance company for high-value cars

JD Power:
870 /1000
AM best:
A +
Avg. annual premium for minimum coverage:
$ 558
Avg annual premium for full coverage:
$ 2438

Why this company made our list: As the fourth-largest insurer based on market share, Allstate has a long list of valuable coverage options that make it a standout option for many drivers, but especially for those with unique vehicles. Allstate’s rewards program adds additional benefits, allowing drivers to earn points toward hotels, gift cards and other great perks.

Why Allstate is best for high-value cars: Allstate is one of the few insurers that offer coverage for custom equipment. The company’s full coverage policies have a higher average cost compared to other carriers on Bankrate’s list, but drivers who have invested money into modifying their vehicles with the best sound equipment likely need more extensive coverage, which Allstate provides. Classic and antique car collectors can opt for Allstate’s classic car insurance so the vehicle’s higher intrinsic value is accounted for in case of costly damage.0

How much does car insurance usually cost?

When answering the common question “how much is car insurance,” it’s important to know that rates are highly dependent on the personal rating factors and vehicle information drivers provide when submitting for a quote. Nationally, full coverage policies average $1,771 per year. “Full coverage” refers to a policy that includes liability, collision coverage and comprehensive coverage. Minimum coverage, which refers to a state’s minimum requirements, costs an average of $545 per year.

In addition to the coverage types and levels you choose, other factors will significantly influence your final insurance cost. Insurers base car insurance rates on a perceived level of risk, which means that the following factors (and more) can impact your premium:

  • Driving record: If you have a history of accidents, tickets or DUI convictions, you’ll likely pay more for coverage.
  • Age and driving experience: Younger drivers tend to have less experience on the road, which means accidents are more likely and rates are usually higher than average. Hawaii and Massachusetts ban the use of age as a rating factor.
  • State and city: Different states have different insurance laws, different accident statistics and different costs of living. Even your city and ZIP code (in most states) can influence how much you pay.
  • Coverage types and levels: Choosing fewer coverage types and lower limits will generally mean a lower premium, but it also means less financial protection and higher out-of-pocket costs if you have an accident.
  • 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, each vehicle will cost a different amount to insure.
  • Credit-based insurance score: In most states, your credit tier is used to determine how likely you are to file a claim. Drivers with lower credit scores generally pay higher premiums.
  • Insurance lapse history: Because most states require drivers to have at least minimum levels of coverage, lapses in insurance can result in higher premiums when you take out a policy again.

How much is car insurance with driving incidents?

The table below shows the average rate for drivers with several different scenarios. Compared to the national average rate, you can see that different factors affect premiums differently.

Drivers with… Average annual full coverage premium
A lapse in coverage $1,949
One speeding ticket $2,138
One at-fault accident $2,521
One DUI conviction $3,421
Poor credit $3,002

Why location matters when choosing car insurance

Auto insurance rates are based on several factors, and your city, state and ZIP code are among the most impactful. If you recently moved, it may be a good idea to compare companies to ensure that your car insurance provider is still the best fit for your needs. This is especially true if you have moved across state lines, as auto insurance is not standardized across the country.

Adding a comprehensive review of your auto insurance coverage as part of your moving checklist is a good way to remember this important step. To view Bankrate’s picks for the best car insurance in your state, select it from the table below.

Average cost of car insurance by state
State Annual annual cost for full coverage insurance Average annual cost for minimum coverage insurance
Alabama $1,760 $443
Alaska $1,770 $417
Arizona $1,743 $579
Arkansas $1,806 $437
California $2,190 $619
Colorado $2,019 $495
Connecticut $1,533 $646
Delaware $1,963 $747
Florida $2,762 $997
Georgia $1,985 $630
Hawaii $1,206 $338
Idaho $1,065 $271
Illinois $1,548 $477
Indiana $1,242 $329
Iowa $1,254 $227
Kansas $1,802 $419
Kentucky $1,954 $658
Louisiana $2,864 $807
Maine $8,876 $227
Maryland $1,931 $836
Massachusetts $1,296 $446
Michigan $2,345 $946
Minnesota $1,692 $600
Mississippi $1,701 $450
Missouri $1,861 $504
Montana $1,795 $310
Nebraska $1,538 $367
Nevada $2,426 $846
New Hampshire $1,182 $324
New Jersey $1,891 $855
New Mexico $1,489 $347
New York $2,996 $1,339
North Carolina $1,392 $431
North Dakota $1,225 $268
Ohio $1,200 $336
Oklahoma $1,902 $408
Oregon $1,371 $625
Pennsylvania $2,002 $441
Rhode Island $1,847 $569
South Carolina $1,464 $518
South Dakota $1,542 $274
Tennessee $1,383 $372
Texas $1,868 $551
Utah $1,449 $544
Vermont $1,000 $242
Virginia $1,340 $475
Washington $1,313 $482
Washington, D.C. $1,948 $613
West Virginia $1,527 $472
Wisconsin $1,249 $364
Wyoming $1,510 $262
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What you need to know about car insurance

What is car insurance and how does it work?

Auto insurance is a form of financial protection that covers a variety of vehicle incidents that could affect you, your vehicle, or others and their vehicle.While most states require a specific minimum amount or type of coverage to be purchased, industry experts typically recommend having more robust financial protection to protect your finances in the event of a costly loss.

Auto policies will cover certain incidents of injury, damage or liability. Coverage limits can be set to satisfy your preferred level of financial protection, though not all coverage types will apply in all states or for all policies. In addition, deductibles are specific to certain coverage types. Because a higher deductible means you are willing to pay more if you file a claim, selecting a higher deductible can lower your premium cost.

More than a dozen rating variables unique to each driver go into determining how much you pay for auto insurance. As each carrier uses different rating factors and weights when underwriting policies, comparing quotes from multiple insurers is often essential in finding the most affordable rate.

While your exact level of coverage will depend on the policy you choose, filing a claim could potentially offer you a payout for loss caused by an uninsured motorist, weather event, occurrence of theft or vandalism, or a multitude of other damaging events. Similarly, if you are involved in an accident with another driver and they are at fault, their auto insurance could help cover your medical expenses and property damage (depending upon the state).

What are the different types of car insurance coverage?

Most auto insurance companies offer similar types of coverage, although variations do exist, especially with endorsements, or “add-ons.” Some companies might offer gap coverage as an option, for example, while another company doesn’t. Below are the types of car insurance coverage that most companies offer:

Almost always required by law

In most states, drivers are legally required to carry at least certain minimum limits of these coverage types

Sometimes required by law

  • Uninsured and underinsured motorist coverage pay for injury and damage caused by a driver who either lacks sufficient coverage or lacks any coverage at all. The Insurance Research Council’s latest study indicated one in eight U.S. drivers was uninsured in 2019.
  • Personal injury protection (PIP), also known as no-fault insurance and offered only 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. PIP is typically required in no-fault states.
  • 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.

Required if you have a loan or lease
If you finance or lease your car, your financial institution will likely require that you have a “full coverage” policy, which includes the following coverage types and adds coverage for damage to your vehicle:

  • Collision coverage pays for damages to your vehicle caused by a collision. If you collide with another car, a tree, a pole, a building or a pedestrian, your collision coverage is the part of the policy that will pay for the damage to your vehicle.
  • Comprehensive coverage pays for damage to your car caused by non-collision losses like theft, vandalism and storm damage. Comprehensive also pays for damages caused by hitting an animal and cracked windshields. According to the Triple-I, approximately 80% of drivers carry this optional coverage.

However, there are more types of car insurance coverage available to you that may be worth discussing with your insurer. Additionally, each state has its own car insurance laws and each driver has a unique situation. Talking with a licensed agent can help you determine the best coverage types and limits for your needs.

What are the different types of car insurance discounts?

Finally, most major auto insurers offer the following car insurance discounts that might help you lower your premium:

  • Multi-policy, sometimes called multi-line or bundling, could earn you a discount on each policy you insure with the same company. This discount is common for insuring both a home and auto policy but is also sometimes offered for having other policies as well, like renters insurance, pet insurance or life insurance..
  • Multi-car discount could save you money if you insure more than one vehicle on the same policy.
  • Claims-free is commonly offered if you do not have any losses on your driving record for three to five years.
  • Good student discount is usually available for full-time students under the age of 25 who have a certain grade point average or letter-grade average.
  • Telematics programs are becoming more common with many car insurance companies. These usage-based insurance programs track your driving patterns with a mobile app or plug-in device. The safer you drive, the more you might save.

Keep in mind that insurance regulations vary by state. This means that some coverage types and discounts may not be available where you live.

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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