What are the benefits of low-cost car insurance?

Cheap car insurance can help your monthly bills stay on track and can still provide you with meaningful financial protection. Your car insurance premium may feel like a useless expense if you haven’t needed to file a claim, but it’s well worth it. Car insurance provides a financial safety net in the event of an accident and can protect your hard-earned money from high out-of-pocket expenses. Finding cheap coverage means you get financial protection and you can keep your bills low.

What are the drawbacks of affordable auto insurance?

Cheap car insurance is a great way to protect your finances and your budget, but you may need to do more research to find the lowest-priced option that works best for you. And it probably doesn’t come as a surprise that more coverage generally means a higher premium, so cheap car insurance might mean you are buying lower limits than you’d like. But that isn’t a given. You can find cheap car insurance — even cheap full coverage — without cutting back on your coverage limits. You may need to spend a bit more time researching companies and gathering quotes from multiple providers. Claims satisfaction and customer service scores are two key areas to consider, as these will be most relevant when you have an accident and file a claim.

Is the minimum required insurance in my state enough coverage?

Your state’s minimum required levels of coverage are all you need to drive legally, but most insurance experts recommend opting for additional coverage to offer more financial protection in case of an accident. Determining how much coverage you need involves a review of your broader financial picture. Additionally, if you have a loan or lease on your vehicle, you will most likely be required to carry full coverage as a condition of your finance or lease agreement. If you are unsure how much coverage you need, consider speaking with a licensed insurance agent before purchasing an auto policy.

What types of damage does car insurance cover?

Broadly speaking, car insurance covers damages and injuries that result from covered accidents. Without car insurance, these costs will need to be paid out-of-pocket and could become very expensive. Liability coverage, which encompasses bodily injury and property damage liability, covers any injuries and damages you cause to the other party because of an accident. Collision and comprehensive coverage, on the other hand, covers damages your car sustained due to a collision or non-collision accident, like a falling tree, fire or theft. To learn more, Bankrate’s car insurance guide details these coverage types in detail.

How do I qualify for more car insurance discounts?

Every car insurance company sets its own discounts, and some companies offer more than others. There may be steps that you can take, however, to qualify for additional discounts on your auto policy. For instance, some companies will offer you a defensive driving discount if you complete an online class. It may be a good idea to contact your insurance agent to ask for a full policy review to ensure you are taking advantage of all the savings you are currently eligible for. Learn more: The benefits of bundling your home and auto insurance Car insurance with telematics

Cheapest Car Insurance Companies in November 2022

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.

Insurance company	Average monthly premium	Average annual premium	Savings vs national average*
Auto-Owners Rating: 4.5 stars out of 5 4.5 Bankrate Score Hover for more 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 Hover for more 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 Hover for more 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 Hover for more 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 Hover for more Hover for more	Average monthly premium $40	Average annual premium $476	Savings vs national average* - $69

*Based on minimum coverage policies for 2022.

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.

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.

Insurance company	Average monthly premium	Average annual premium	Savings vs national average*
USAA Rating: 5 stars out of 5 5.0 Bankrate Score Hover for more 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 Hover for more 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 Hover for more 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 Hover for more 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 Hover for more Hover for more	Average monthly premium $125	Average annual premium $1,495	Savings vs national average* - $276

*Based on full coverage policies for 2022.

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.

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.

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:

Have an average annual minimum coverage premium lower than the national average of $545 per year.
Have at least close to the industry average J.D. Power claims satisfaction rating.
Have an AM Best financial strength rating of A+ (Superior) or higher.
Have an overall Bankrate Score of 4.5 or higher.

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.

47

years of industry expertise

122

carriers reviewed

2M

quotes analyzed

34.5K

zip codes examined

Bankrate utilizes Quadrant Information Services to analyze 2022 rates for all ZIP codes and carriers in all 50 states and Washington, D.C. Rates are weighted based on the population density in each geographic region. Quoted rates are based on a 40-year-old male and female driver with a clean driving record, good credit and the following full coverage limits:
- $100,000 bodily injury liability per person
- $300,000 bodily injury liability per accident
- $50,000 property damage liability per accident
- $100,000 uninsured motorist bodily injury per person
- $300,000 uninsured motorist bodily injury per accident
- $500 collision deductible
- $500 comprehensive deductible
To determine minimum coverage limits, Bankrate used minimum coverage that meets each state’s requirements. Our base profile drivers own a 2020 Toyota Camry, commute five days a week and drive 12,000 miles annually.

These are sample rates and should only be used for comparative purposes.

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.

Compare auto insurance rates

Answer a few questions to see personalized rates from top carriers.

Age

Please select age

Zip code

Your information is secure

Save on auto with quotes from trusted providers like:

Powered by Coverage.com (NPN: 19966249)

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

Auto-Owners

4.5 Bankrate Score

Auto-Owners Insurance Review

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

Why Auto-Owners made our list: Auto-Owners has the lowest average minimum coverage premium on our list and also offers numerous add-on options to help you personalize your coverage.

Why Auto-Owners may be cheapest overall: Based on our analysis, Auto-Owners has the cheapest average minimum coverage premium for drivers with clean driving records and good credit, but the regional carrier also offers cheap average rates across a variety of other driving profiles.

How to get started: If you would like to get a quote from Auto-Owners, you will need to contact an independent agent in your area representing the company within the 26 states it offers coverage.
Pros
High customer satisfaction ratings

Offers several optional endorsements
Cons
Not available nationwide

Does not offer a virtual claims-filing system

	Auto-Owners	National average
Speeding ticket conviction	$1,507	$2,138
At-fault accident	$1,689	$2,521
DUI conviction	$2,648	$3,421
Poor credit	$3,182	$3,002

Auto-Owners Insurance Review

Cheapest car insurance company for military-focused coverage

USAA

5 Bankrate Score

USAA Insurance Review

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

Why USAA made our list: In addition to its low average minimum coverage rate, USAA, the fifth-largest auto insurer in the U.S. by market share according to the Insurance Information Institute (Triple-I), consistently receives high customer satisfaction scores from J.D. Power, although the company isn’t eligible for official ranking due to only insuring military members, veterans and qualifying family members.

Why USAA may be cheapest for military-focused coverage: USAA offers military-specific discounts that can help military members, veterans and qualified family members save even more on their car insurance policies. This includes a unique military on-base discount that provides up to 15% off your car insurance premium if your car is garaged on base. If your parents are also USAA members, you could also receive an additional 10% discount.

How to get started: USAA offers online quotes, or you can call 800-531-8722 to speak with a company representative to get a quote.
Pros
Has excellent customer service and claims satisfaction scores

Offers military-focused policies
Cons
Only serves the military community, not the general public

Requires a membership

	USAA	National average
Speeding ticket conviction	$1,464	$2,138
At-fault accident	$1,742	$2,521
DUI conviction	$2,313	$3,421
Poor credit	$2,317	$3,002

USAA Insurance Review

Cheapest car insurance company for poor credit scores

Geico

4.7 Bankrate Score

Geico Insurance Review

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

Why this company made our list: With nationwide availability, low average rates and a wide variety of discounts, Geico, the second-largest U.S. auto insurer by market share, might help you save money no matter where you live.

Why Geico may be cheapest for poor credit scores: According to our research, Geico’s average annual minimum coverage premium for drivers with poor credit is over $100 cheaper than the next-cheapest company we analyzed.

How to get started: Getting a quote with Geico is fairly easy. You can get a Geico quote online by phone at 800-207-7847 or in the Geico mobile app. Geico also has a network of local exclusive agents across the U.S.
Pros
Available in all 50 states and Washington, D.C.

Highly regarded for its vast menu of discounts
Cons
Only offers a few endorsement options

Personalizing your policy can be challenging

	Geico	National average
Speeding ticket conviction	$1,586	$2,138
At-fault accident	$1,900	$2,521
DUI conviction	$3,196	$3,421
Poor credit	$1,791	$3,002

Geico Insurance Review

Cheapest car insurance company for stellar service

Amica

4.5 Bankrate Score

Amica Insurance Review

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

Why Amica made our list: With a low average minimum coverage premium and high claims and customer satisfaction scores, Amica could be a great option for those looking for cheap automobile insurance and solid service.

Why Amica may be cheapest for stellar service: Amica is rated near the top of J.D. Power’s claims satisfaction study and also offers low average rates across a variety of profiles. Auto claims can be filed in numerous ways, including through an online account, via Amica’s online chat feature, by phone or on the Amica mobile app.

How to get started: To get a quote from Amica, you can visit the Amica website at www.amica.com or call 800-242-6422. The carrier also operates local offices across the U.S.. Amica car insurance is unavailable in Hawaii.
Pros
High third-party customer service ratings and easy-to-access claims reporting

A low average minimum coverage premium
Cons
Auto policies aren’t available in Hawaii

Does not offer ridesharing coverage

	Amica	National average
Speeding ticket conviction	$1,820	$2,138
At-fault accident	$1,782	$2,521
DUI conviction	$3,998	$3,421
Poor credit	$2,255	$3,002

Amica Insurance Review

Cheapest car insurance company for steady rates

Erie

4.6 Bankrate Score

Erie Insurance Review

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

Why this company made our list: With its low average minimum coverage premium and exclusive Rate Lock feature, Erie may be a great option for policyholders looking to lock in their savings for multiple years.

Why Erie may be cheapest for steady rates: Erie offers low average rates across a variety of driver profiles, and its Rate Lock program allows you to keep your auto insurance premium steady; the company advises that your price will only change if you make adjustments to your policy, like adding or removing a driver or vehicle.

Cheap car insurance from smaller insurance companies

Although large companies sometimes offer more discount programs and options, you might want to get a 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.

Average premiums for smaller companies by market share
Pros
A low average minimum coverage premium

Great claims satisfaction rating from J.D. Power
Cons
Only available in 12 states and Washington, D.C.

Lacks the ability to file certain types of claims online

	Erie	National average
Speeding ticket conviction	$1,435	$2,138
At-fault accident	$1,562	$2,521
DUI conviction	$2,285	$3,421
Poor credit	$2,933	$3,002

Erie Insurance Review

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

Bankrate utilizes Quadrant Information Services to analyze 2022 rates for all ZIP codes and carriers in all 50 states and Washington, D.C. The above quoted average annual premiums for full and minimum coverage are calculated by evaluating our 2022 base profile with the following incidents applied: clean driving record (base), at-fault accident, single speeding ticket, and single DUI conviction.

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

Bankrate utilizes Quadrant Information Services to analyze 2022 rates for all ZIP codes and carriers in all 50 states and Washington, D.C. These 2022 rates were calculated based on the following insurance credit tiers assigned to our drivers: “poor, average, good (base) and excellent.” Insurance credit tiers factor in your official credit scores but are not dependent on that variable alone. Four states prohibit insurers from using credit-based insurance scores as a rating factor in determining auto insurance rates: California, Hawaii, Massachusetts and Michigan.

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

Bankrate utilizes Quadrant Information Services to analyze 2022 rates for all ZIP codes and carriers in all 50 states and Washington, D.C. Rates were calculated by evaluating our 2022 base profile with the ages 18-60 (base: 40 years) applied. Depending on age, drivers may be a renter or homeowner. Rates for 18-year-old are based on a driver of this age that is a renter (not a homeowner) and on their own policy. Age is not a contributing rating factor in Hawaii and Massachusetts due to state regulations.

Average rates for 16- and 17-year-old drivers were calculated for 16 and 17 year olds by evaluating our 2022 base profile, based on a driver of this age added to their parents’ policy. These rates also reflect the good student and driver’s training discounts.

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:

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.
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.
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.
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.

Save on cheap car insurance

Looking to save money on auto insurance?

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.

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.

Frequently asked questions

Cheap car insurance can help your monthly bills stay on track and can still provide you with meaningful financial protection. Your car insurance premium may feel like a useless expense if you haven’t needed to file a claim, but it’s well worth it. Car insurance provides a financial safety net in the event of an accident and can protect your hard-earned money from high out-of-pocket expenses. Finding cheap coverage means you get financial protection and you can keep your bills low.
Cheap car insurance is a great way to protect your finances and your budget, but you may need to do more research to find the lowest-priced option that works best for you. And it probably doesn’t come as a surprise that more coverage generally means a higher premium, so cheap car insurance might mean you are buying lower limits than you’d like. But that isn’t a given. You can find cheap car insurance — even cheap full coverage — without cutting back on your coverage limits. You may need to spend a bit more time researching companies and gathering quotes from multiple providers. Claims satisfaction and customer service scores are two key areas to consider, as these will be most relevant when you have an accident and file a claim.
Your state’s minimum required levels of coverage are all you need to drive legally, but most insurance experts recommend opting for additional coverage to offer more financial protection in case of an accident. Determining how much coverage you need involves a review of your broader financial picture. Additionally, if you have a loan or lease on your vehicle, you will most likely be required to carry full coverage as a condition of your finance or lease agreement. If you are unsure how much coverage you need, consider speaking with a licensed insurance agent before purchasing an auto policy.
Broadly speaking, car insurance covers damages and injuries that result from covered accidents. Without car insurance, these costs will need to be paid out-of-pocket and could become very expensive. Liability coverage, which encompasses bodily injury and property damage liability, covers any injuries and damages you cause to the other party because of an accident. Collision and comprehensive coverage, on the other hand, covers damages your car sustained due to a collision or non-collision accident, like a falling tree, fire or theft. To learn more, Bankrate’s car insurance guide details these coverage types in detail.
Every car insurance company sets its own discounts, and some companies offer more than others. There may be steps that you can take, however, to qualify for additional discounts on your auto policy. For instance, some companies will offer you a defensive driving discount if you complete an online class. It may be a good idea to contact your insurance agent to ask for a full policy review to ensure you are taking advantage of all the savings you are currently eligible for.

Learn more:
- The benefits of bundling your home and auto insurance
- Car insurance with telematics

Cheapest car insurance in November 2022

What To Know First

On This Page

Cheapest car insurance companies in November 2022

How Bankrate picked the cheapest insurers

Car insurance rates methodology

Compare auto insurance rates

The top 5 cheapest car insurers

Auto-Owners

USAA

Geico

Amica

Erie

Cheap car insurance from smaller insurance companies

Average premiums for smaller companies by market share

The cheapest car insurance from smaller companies: Union Mutual

The cheapest car insurance companies by state

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

Methodology for rates by driving record

The cheapest car insurance company for poor credit: Amica

Methodology for rates by credit tier

The cheapest car insurance company by age: Auto-Owners

Methodology for rates by age and gender

How to get cheap car insurance

Save on cheap car insurance

Looking to save money on auto insurance?

Frequently asked questions

What are the benefits of low-cost car insurance?

What are the drawbacks of affordable auto insurance?

Is the minimum required insurance in my state enough coverage?

What types of damage does car insurance cover?

How do I qualify for more car insurance discounts?