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Cheapest car insurance in November 2022

Auto-Owners and USAA offer the cheapest minimum coverage car insurance at rates less than $360 per year, according to Bankrate's average premium analysis.

Updated Nov 18, 2022
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Cheapest car insurance companies in November 2022

To find the cheapest car insurance companies, Bankrate analyzed carrier rates obtained from Quadrant Information Services. But other factors, like customer experience, policy options and financial strength are important, too. Our proprietary Bankrate Score takes into account all of these factors to help you easily compare car insurance carriers. 

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
Savings vs national average*
- $220
USAA
Rating: 5 stars out of 5
5.0
Bankrate Score
Info Hover for more
Average monthly premium
$30
Average annual premium
$354
Savings vs national average*
- $191
Geico
Rating: 4.7 stars out of 5
4.7
Bankrate Score
Info Hover for more
Average monthly premium
$30
Average annual premium
$365
Savings vs national average*
- $180
Amica
Rating: 4.5 stars out of 5
4.5
Bankrate Score
Info Hover for more
Average monthly premium
$37
Average annual premium
$444
Savings vs national average*
- $101
Erie
Rating: 4.6 stars out of 5
4.6
Bankrate Score
Info Hover for more
Average monthly premium
$40
Average annual premium
$476
Savings vs national average*
- $69
*Based on minimum coverage policies for 2022.
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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.

USAA
Rating: 5 stars out of 5
5.0
Bankrate Score
Info Hover for more
Average monthly premium
$101
Average annual premium
$1,209
Savings vs national average*
- $562
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
Savings vs national average*
- $474
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
Savings vs national average*
- $466
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
Savings vs national average*
- $450
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
Savings vs national average*
- $276
*Based on full coverage policies for 2022.
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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.

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Key insights from Bankrate's cheap car insurance guide
  • Auto-Owners, USAA and Geico — three of the cheapest carriers on our list — offer minimum coverage car insurance at around $30 per month. 
  • Auto-Owners is the cheapest on average for drivers with a moving violation on their driving record.
  • Amica is the cheapest on average for drivers with poor credit. 
  • Your driving history plays a major role in determining your car insurance premium, especially if you’ve had a moving violation, but shopping around with more than one carrier could help you find savings.

How Bankrate picked the cheapest insurers

To find the cheapest car insurance companies, Bankrate analyzed carrier rates obtained from Quadrant Information Services. These car insurance carriers ranged from the largest by market share to small, regional carriers. We also reviewed companies on a broader scale by examining customer satisfaction reviews, financial strength ratings, policy options, discounts and more. Each category was given a rating and then averaged into our proprietary Bankrate Score. To provide an easy-to-use shopping and comparison tool for consumers, we calculated the Bankrate Score out of 5 total points. The higher a company’s score, the more competitively that company ranked in each scoring category. Our picks highlight auto insurers that:

We also analyzed data from several super-regional cheap insurance companies that may only offer auto insurance in a select number of markets. Due to their lower volume of annual premiums written, some of these smaller carriers may not be rated by J.D. Power or AM Best. Thus, these two factors had no bearing on their Bankrate Scores.
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carriers reviewed
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quotes analyzed
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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 5 cheapest car insurers

Cheapest car insurance company overall

J.D. Power:
865 /1,000
AM Best:
A ++
Avg. annual premium for minimum coverage:
$ 325
Avg annual premium for full coverage:
$ 1,305

Cheapest car insurance company for military-focused coverage

J.D. Power:
890 /1,000
AM Best:
A ++
Avg. annual premium for minimum coverage:
$ 354
Avg annual premium for full coverage:
$ 1,209

Cheapest car insurance company for poor credit scores

J.D. Power:
874 /1,000
AM Best:
A ++
Avg. annual premium for minimum coverage:
$ 365
Avg annual premium for full coverage:
$ 1,297

Cheapest car insurance company for stellar service

J.D. Power:
903 /1,000
AM Best:
A +
Avg. annual premium for minimum coverage:
$ 444
Avg annual premium for full coverage:
$ 1,495

Cheapest car insurance company for steady rates

J.D. Power:
893 /1,000
AM Best:
A +
Avg. annual premium for minimum coverage:
$ 476
Avg annual premium for full coverage:
$ 1,321

The cheapest car insurance from smaller companies: Union Mutual

Although large companies sometimes offer more discount programs and options, you might want to look into regional companies with smaller market shares in your search for cheap car insurance quotes. A smaller insurer can also help you find affordable car insurance, offer high customer satisfaction ratings and provide personalized service. These four regional carriers offer the cheapest minimum car insurance on average, according to Bankrate’s analysis.
Insurance company Average annual rate Average monthly rate
Union Mutual $154 $13
Nodak Insurance Company $159 $13
American National $181 $15
EMC Insurance $190 $16

Although regional insurance brands might not sound as familiar as the larger companies, getting quotes from these lesser-known insurance providers might offer cheap insurance coverage in your area.

The cheapest car insurance companies by state

In many states, USAA offers the cheapest minimum coverage premiums on average, but it has been excluded from our state table since its eligibility is restricted to military members and their qualifying family. Taking this into consideration, Geico offers the cheapest average minimum coverage car insurance in most states of the providers we assessed.

The cheapest car insurance depends on your individual circumstances, and each state has different insurance regulations. However, the following rate information may be useful for the sake of comparison. The best way to know if it’s right for your budget is to request a quote.

The average annual auto insurance premium for minimum coverage by state.

STATE CHEAPEST CAR INSURANCE COMPANY AVERAGE ANNUAL PREMIUM*
Alabama Geico $262
Alaska Geico $310
Arizona Geico $294
Arkansas State Farm $292
California Geico $400
Colorado American National $212
Connecticut Geico $418
Delaware Travelers $379
Florida Geico $684
Georgia Auto-Owners $345
Hawaii Geico $290
Idaho American National $131
Illinois Geico $268
Indiana Pekin $204
Iowa Hastings Mutual $131
Kansas State Farm $306
Kentucky Kentucky Farm Bureau $374
Louisiana Geico $440
Maine Geico $195
Maryland Allstate $521
Massachusetts State Farm $223
Michigan Travelers $113
Minnesota North Star Mutual $311
Mississippi State Farm $298
Missouri Columbia Insurance $309
Montana Progressive $161
Nebraska EMC Insurance $190
Nevada Geico $356
New Hampshire MMG $211
New Jersey NJM $364
New Mexico Central Mutual Insurance Co $244
New York Geico $860
North Carolina State Farm $318
North Dakota Nodak $159
Ohio State Farm $237
Oklahoma Geico $240
Oregon State Farm $440
Pennsylvania Geico $244
Rhode Island State Farm $280
South Carolina American National $200
South Dakota Farmers Mutual of Nebraska $180
Tennessee Grange $196
Texas Geico $407
Utah Geico $308
Vermont New England Guaranty Insurance Co $151
Virginia Travelers $338
Washington PEMCO $312
Washington D.C. Geico $36
West Virginia Encompass $271
Wisconsin Geico $207
Wyoming Geico $176
STATE CHEAPEST CAR INSURANCE COMPANY AVERAGE ANNUAL PREMIUM*
Alabama Travelers $1,136
Alaska State Farm $1,258
Arizona Geico $948
Arkansas Farmers $1,149
California Capital $1,527
Colorado American National $915
Connecticut Geico $1,109
Delaware Travelers $1,072
Florida State Farm $2,055
Georgia Progressive $1,527
Hawaii Geico $1,061
Idaho State Farm $853
Illinois Geico $928
Indiana Hastings Mutual $549
Iowa Iowa Farm Bureau $1,082
Kansas Iowa Farm Bureau $1,494
Kentucky State Farm $1,363
Louisiana Southern Farm Bureau $1,871
Maine Geico $578
Maryland Nationwide $1,232
Massachusetts State Farm $736
Michigan Secura $895
Minnesota American Family $1,098
Mississippi State Farm $1,318
Missouri Farmers $1,320
Montana Progressive $796
Nebraska Farmers $1,282
Nevada Geico $1,116
New Hampshire State Farm $958
New Jersey Selective $1,085
New Mexico Farmers $1,278
New York Main Street America $761
North Carolina Geico $835
North Dakota American Family $819
Ohio Hastings Mutual $758
Oklahoma Geico $970
Oregon Oregon Mutual $902
Pennsylvania Geico $916
Rhode Island Travelers $1,308
South Carolina American National $505
South Dakota Farmers Mutual of Nebraska $1,086
Tennessee State Farm $945
Texas State Farm $1,314
Utah Geico $971
Vermont State Farm $775
Virginia Nationwide $770
Washington Geico $912
Washington D.C. Erie $1,212
West Virginia Nationwide $993
Wisconsin Hastings Mutual $817
Wyoming Farmers $1,151

The cheapest car insurance company by driving record: Auto-Owners

Based on our research, Auto-Owners offers the cheapest minimum coverage car insurance rates for drivers with clean driving records or with one speeding ticket conviction, one at-fault accident or DUI on their record. For full coverage premiums, USAA car insurance rates are cheaper than Auto-Owner for some scenarios, including drivers with a clean driving record and those with a single speeding ticket on their record. Keep in mind that actual rates from every company will vary for each driver. 

Insurance company Clean driving record One speeding ticket One at-fault accident One DUI
Auto-Owners $325 $383 $447 $803
USAA $354 $428 $523 $678
Geico $365 $443 $538 $937
Amica $444 $541 $545 $1,140
Erie $476 $515 $579 $859
National average $545 $657 $788 $1,091
Insurance company Clean driving record One speeding ticket One at-fault accident One DUI
Auto-Owners $1,305 $1,507 $1,689 $2648
USAA $1,203 $1,464 $1,742 $2,313
Geico $1,297 $1,586 $1,900 $3,196
Amica $1,492 $1,820 $1,782 $3,998
Erie $1,321 $1,435 $1,562 $2,285
National average $1,771 $2,138 $2,521 $3,421

The cheapest car insurance company for poor credit: Amica

Geico and USAA offer the cheapest average rates for drivers with poor credit scores, while USAA and Auto-Owners offer the lowest average rates for drivers with average, good and excellent credit. All three carriers earned strong Bankrate Scores above 4 points as well. Keep in mind that not all states allow credit-based insurance scores to be used as a rating factor. Check your state’s laws or speak with an insurance agent to determine how your credit history might affect your car insurance premium.

Insurance company Poor Credit Average Credit Good Credit Excellent Credit
Amica $647 $466 $444 $425
Auto-Owners $794 $381 $325 $238
Erie $1,050 $547 $476 $389
Geico $501 $388 $365 $341
USAA $626 $380 $354 $317
National average $944 $590 $545 $474
Insurance company Poor Credit Average Credit Good Credit Excellent Credit
Amica $2,255 $1,572 $1,495 $1,418
Auto-Owners $3,182 $1,505 $1,305 $960
Erie $2,933 $1,512 $1,321 $1,062
Geico $1,791 $1,379 $1,297 $1,207
USAA $2,317 $1,309 $1,209 $1,070
National average $3,002 $1,907 $1,771 $1,556

The cheapest car insurance company by age: Auto-Owners

Age plays a major role when it comes to car insurance rates (except in Hawaii and Massachusetts, where age is not a permitted rating factor). Our research into average car insurance rates by age found Auto-Owners to offer the cheapest minimum coverage rates for most age groups, followed closely by Geico. For average full coverage rates, some of the cheapest carriers include Amica, Auto-Owners, Erie, Geico and Nationwide. 

Learn more: Tips for saving with teen driver discounts

Insurance company Cheapest car insurance company on average Average annual rate
17-year-old Geico $797
18-year-old Auto-Owners $1,036
19-year-old Auto-Owners $866
20-year-old Auto-Owners $762
21-year-old Geico $628
22-year-old Geico $549
23-year-old Geico $499
24-year-old Geico $473
25-year-old Geico $425
30-year-old Auto-Owners $316
35-year-old Auto-Owners $323
40-year-old Auto-Owners $325
50-year-old Auto-Owners $310
60-year-old Auto-Owners $315
70-year-old Auto-Owners $386
Insurance company Cheapest car insurance company on average Average annual rate
17-year-old Nationwide $2,150
18-year-old Nationwide $2,123
19-year-old Nationwide $1,999
20-year-old Erie $2,455
21-year-old Geico $2,227
22-year-old Geico $1,656
23-year-old Erie $1,990
24-year-old Erie $1,617
25-year-old Amica $1,753
30-year-old Auto-Owners $1,326
35-year-old Auto-Owners $1,311
40-year-old Geico $1,297
50-year-old Auto-Owners $1,226
60-year-old Auto-Owners $1,178
70-year-old Auto-Owners $1,289

How to get cheap car insurance

Auto insurance helps provide you and your family with financial peace of mind. Although carrying minimum coverage as a cost-saving measure may be tempting, this decision could leave you financially vulnerable to a significant loss. If you find your car insurance premium out of your realm of affordability, the following steps may help you fit this necessary expense back into your budget:

  1. Prioritize: Make a list of your priorities before requesting free quotes. Some drivers may need a company that offers lower rates for poor credit scores, while others are willing to pay a little more for top-notch customer service. Knowing what you need ahead of time can help streamline the quoting process. 
  2. Research: Once you know what your priorities are in an insurance company, you can use Bankrate’s list of cheapest providers to seek out the best cheap car insurance companies known to offer competitive rates for your specific situation. 
  3. Compare: When requesting quotes, it’s vital to ensure that you are comparing coverage apples-to-apples. If you request a quote with more coverage options from one company but less coverage option from another, your quote comparison will not accurately reflect the rates between companies. Using your current declarations page to guide you on your coverage selections may be a good idea. 
  4. Discounts: Some companies offer more discounts than others. Furthermore, some companies have strict eligibility requirements for the discounts they offer. It may be a good idea to ask the company to do a full discount review to ensure that you take advantage of all possible savings opportunities. 

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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.

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Written by
Carol Pope
Insurance Writer

Carol Pope is an insurance writer for Bankrate and prior to joining the team, she spent 12 years as an auto insurance agent. During this time, she sold, serviced and underwrote auto insurance for people across the country. She also has experience selling supplement coverage such as umbrella insurance.

Edited by Insurance Editor
Reviewed by Director of corporate communications, Insurance Information Institute