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Best car insurance companies for December 2022

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

Updated Dec 01, 2022
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The best car insurance companies in December 2022

Our extensive research revealed that these 10 insurers are some of the best car insurance companies available:

USAA
Rating: 5 stars out of 5
5.0
Bankrate Score
Info Hover for more
Average monthly premium
$101
Average annual premium
$1,209
What it may be best for
Best overall
Clearcover
Rating: 5 stars out of 5
5.0
Bankrate Score
Info Hover for more
Average monthly premium
N/A
Average annual premium
N/A
What it may be best for
Digital capabilities
Geico
Rating: 4.7 stars out of 5
4.7
Bankrate Score
Info Hover for more
Average monthly premium
$108
Average annual premium
$1,297
What it may be best for
Driving incidents
State Farm
Rating: 4.7 stars out of 5
4.7
Bankrate Score
Info Hover for more
Average monthly premium
$116
Average annual premium
$1,397
What it may be best for
Best overall
Travelers
Rating: 4.7 stars out of 5
4.7
Bankrate Score
Info Hover for more
Average monthly premium
$121
Average annual premium
$1,447
What it may be best for
Personalized coverage
Erie
Rating: 4.6 stars out of 5
4.6
Bankrate Score
Info Hover for more
Average monthly premium
$110
Average annual premium
$1,321
What it may be best for
Robust coverage
Auto-Owners
Rating: 4.5 stars out of 5
4.5
Bankrate Score
Info Hover for more
Average monthly premium
$109
Average annual premium
$1,305
What it may be best for
Discounts
Amica
Rating: 4.5 stars out of 5
4.5
Bankrate Score
Info Hover for more
Average monthly premium
$125
Average annual premium
$1,495
What it may be best for
Claims satisfaction
Nationwide
Rating: 4.4 stars out of 5
4.4
Bankrate Score
Info Hover for more
Average monthly premium
$115
Average annual premium
$1,383
What it may be best for
Coverage on a budget
Progressive
Rating: 4.4 stars out of 5
4.4
Bankrate Score
Info Hover for more
Average monthly premium
$130
Average annual premium
$1,561
What it may be best for
Digital policy management
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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.

USAA
Rating: 5 stars out of 5
5.0
Bankrate Score
Info Hover for more
Average monthly premium
$30
Average annual premium
$354
What it may be best for
Best overall
Clearcover
Rating: 5 stars out of 5
5.0
Bankrate Score
Info Hover for more
Average monthly premium
N/A
Average annual premium
N/A
What it may be best for
Digital capabilities
Geico
Rating: 4.7 stars out of 5
4.7
Bankrate Score
Info Hover for more
Average monthly premium
$30
Average annual premium
$365
What it may be best for
Driving incidents
State Farm
Rating: 4.7 stars out of 5
4.7
Bankrate Score
Info Hover for more
Average monthly premium
$38
Average annual premium
$456
What it may be best for
Best overall
Travelers
Rating: 4.7 stars out of 5
4.7
Bankrate Score
Info Hover for more
Average monthly premium
$40
Average annual premium
$477
What it may be best for
Personalized coverage
Erie
Rating: 4.6 stars out of 5
4.6
Bankrate Score
Info Hover for more
Average monthly premium
$40
Average annual premium
$476
What it may be best for
Robust coverage
Auto-Owners
Rating: 4.5 stars out of 5
4.5
Bankrate Score
Info Hover for more
Average monthly premium
$27
Average annual premium
$325
What it may be best for
Discounts
Amica
Rating: 4.5 stars out of 5
4.5
Bankrate Score
Info Hover for more
Average monthly premium
$37
Average annual premium
$444
What it may be best for
Claims satisfaction
Nationwide
Rating: 4.4 stars out of 5
4.4
Bankrate Score
Info Hover for more
Average monthly premium
$46
Average annual premium
$549
What it may be best for
Coverage on a budget
Progressive
Rating: 4.4 stars out of 5
4.4
Bankrate Score
Info Hover for more
Average monthly premium
$45
Average annual premium
$542
What it may be best for
Digital policy management
Powered by Coverage.com (NPN: 19966249)
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.

*Clearcover overall standing affected by limited data availability.

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; 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 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
Clock Wait
47
years of industry expertise
Search
122
carriers reviewed
Dollar Coin
2M
quotes analyzed
Location
34.5K
zip codes examined
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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Insurance Disclosure

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.

The top 10 car insurance companies

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.

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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.

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. Here, we show you how to understand your individual car insurance needs so you can find the best company for your circumstances.

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. 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, including insurers. 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.

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. 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.
  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. Talk with current policyholders: If you know someone with 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.
  4. 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.
  5. 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.
  6. 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.
  7. 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

Inflation has been a headline news story for months, and with good reason. A study from March 2022 showed that 93 percent of Americans have felt the effects of higher prices, and of that number, 74 percent said that inflation was damaging to their personal finances. Inflation has continued to rise since March, so it’s likely that those numbers are now higher. 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. 

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.

Caret Down

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.”

Adam pichon

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.”

Mark Friedlander

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."

Jon Schnautz

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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