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Cheapest full coverage auto insurance
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Finding cheap full coverage can be challenging, but it might be possible with a little bit of legwork. Bankrate’s insurance editorial team (which includes three licensed agents) conducted a study and found that the national average rate for a full-coverage policy is $2,014 per year. We also learned that State Farm and Geico might offer the cheapest full coverage rates for many drivers across the country. While true that you’ll typically pay more for a full-coverage policy than you would for minimum liability, this extra financial protection could prove invaluable if you’re the driver in an at-fault accident. With our expert guidance, you might find full coverage rates at a price that you can afford.
What is full coverage auto insurance?
Minimum coverage car insurance refers to your state’s minimum requirements for car insurance. The required coverage usually includes property damage and bodily injury liability, which covers any injuries and damages you cause while driving. If you cause an accident and only have minimum coverage car insurance, your policy won’t cover any of your injuries or damages to your car.
By opting for full coverage car insurance, you can have greater coverage for yourself and car. While there isn’t an industry-standard definition, full coverage typically means having medical payments coverage, comprehensive and collision coverage, as well as roadside assistance and rental reimbursement. You can choose your own deductible amounts for comprehensive and collision, as well as policy limits to suit your needs. Check with your insurance company or agent to learn what unique add-ons you could include to make your car insurance policy more robust.
Cheapest full coverage car insurance company by state
The cost of car insurance varies by state due to different insurance laws, unique geographic features and the incidence of claims in the area, but you may still be able to find affordable rates no matter where you live. Because car insurance premiums vary between companies, getting quotes from several carriers could help you find the cheapest coverage for your needs.
The following table shows the company that offers the cheapest full coverage premiums in each state. Please note that not everyone will qualify for coverage from every company. For example, USAA only serves military members, veterans and members of their immediate families.
Best cheap full coverage car insurance
Most states require that you carry at least minimum levels of certain car insurance coverage to drive legally. While these coverage limits ensure that you comply with the law, the coverage they provide is minimal and does not include coverage for damage to your vehicle.
To determine the car insurance companies to feature, Bankrate’s insurance editorial team first reviewed average premium data obtained from Quadrant Information Services. We also analyzed each company’s available coverage options, discounts, policy features and third-party rankings from sources like AM Best, Standard & Poor’s (S&P), the National Association of Insurance Commissioners (NAIC) and J.D. Power.
Based on our research, we have assigned a Bankrate Score on a scale of 0.0 to 5.0 to each company. The higher the Bankrate Score, the more highly a company ranked in each of the scoring categories.
If you are searching for the best cheap full coverage car insurance, these companies may be a good place to start. These providers are some of the cheapest in the nation, but also offer exceptional coverage:
|Car insurance company||Bankrate Score||Average annual full coverage premium||Monthly premium cost|
Amica performed well in J.D. Power's 2023 Auto Insurance Study and received the highest score in the 2023 U.S. Insurance Digital Experience Study for its superb customer service. One of the most unique aspects of Amica is its dividend policy option. If you choose a dividend policy, you could get up to 20 percent of your annual premium back each year. The company also offers several optional coverage choices and discounts. However, Amica may not be the cheapest option for drivers with accidents on tickets on their driving record. If you are interested in getting a quote from Amica, you can visit its website at amica.com.
Geico offers one of the longest lists of car insurance discounts in the industry. Savings opportunities include having certain vehicle safety features, being a federal employee or military member, wearing your seatbelt and being affiliated with certain groups, like alumni associations. The company also has a highly-rated mobile app and online policy portal. If you want a company with highly customizable coverage, however, Geico might not be right for you. There are only a few endorsements that you can add to your policy.
USAA has some of the lowest average annual rates across the country, as well as excellent customer service. Although the company is not eligible for official ranking with J.D. Power due to its eligibility restrictions, it earned a high score in the J.D Power 2022 U.S. Auto Claims Satisfaction Study, which indicates that customers are generally satisfied with USAA’s claims service. However, USAA has strict eligibility requirements and only sells coverage to military members, veterans and their immediate families.
If you can afford to pay your premium in full, Auto-Owners offers a paid-in-full discount that may lower your rate. The company also offers numerous coverage options, including diminished value coverage, car rental reimbursement, gap coverage, roadside assistance and the Personal Automobile Plus package, which includes coverage for rekeying locks and identity theft. Auto-Owners is a regional carrier only available in 26 states, so it won’t be an option for everyone.
If you are looking for a local agent, State Farm might fit your needs. This carrier is the largest in the country by market share and has over 19,000 agents in the U.S.; the likelihood of having an agency near you is high. State Farm offers standard car insurance coverage types, several optional endorsements and a few discounts. However, gap insurance is not available with State Farm and accident forgiveness can’t be purchased. If you need a company that offers these options, you will have to shop elsewhere.
If you are looking for a highly customizable policy, Travelers may be a good fit. The company offers a long list of coverage options, including roadside assistance, gap coverage, new car replacement, ridesharing coverage and accident forgiveness. The company also has some unique discount options, like savings for hybrid and electric cars. However, Travelers did get mostly below-average scores in the 2023 J.D. Power U.S Auto Insurance Study, which could indicate a low level of overall customer satisfaction.
Erie offers low average rates combined with highly-rated customer service. Erie scored above the industry average in the 2023 J.D. Power U.S. Auto Insurance Study in the regions where it was rated, including the top spot in both the North Central and Mid-Atlantic regions. Erie offers a unique Rate Lock feature, which prevents your premium from increasing for a certain amount of time unless you make changes to your policy, like adding a vehicle or driver. Erie is another regional carrier and is only available in 12 states, though, so it’s not available in many areas of the country.
How to find cheap full coverage insurance
Because you are buying more coverage, full coverage auto insurance is likely to cost more than minimum coverage or liability-only coverage. However, there are steps you can take that might help you save:
- Compare quotes: One of the most recommended ways to find affordable car insurance is to shop around with several auto insurers. You can obtain free quotes from many insurers and then use these to see which could offer you the best rate on the coverage you want. When doing this, it’s important to specify the same types and limits of coverage on each quote.
- Take advantage of discounts: Most insurance companies offer discounts that could help you save money. Taking advantage of the discounts you qualify for generally lowers your premium. In many cases, you may be able to stack discounts from your insurer. In those situations, the more discounts you qualify for, the more you’ll likely save on rates.
- Drive safely: Driving infractions like tickets and accidents can lead to significant premium surcharges. Driving safely may help keep your rates low and may even qualify you for good driver discounts.
- Increase your deductibles: Both comprehensive coverage and collision coverage come with a deductible, which is the amount of money you agree to pay if you file a claim for damage to your vehicle. Increasing one or both of your deductibles can lower your premium, but your collision coverage deductible generally has the biggest premium impact. Just be sure to choose a level that you can afford to pay if you file a claim.
- Consider the make and model of your vehicle: If you’re in the market for a new car, it may be a good idea to gather several car insurance quotes before making your purchase. For instance, if you’re on the fence between an SUV and a sporty coupe, your projected car insurance premium might help you decide which vehicle fits best within your budget.
Although price is an important factor when buying car insurance, it is not the only aspect of a company to consider. Customer service ratings, financial strength scores, available coverage options, discounts and policy features are all important to think about.
Frequently asked questions
Bankrate utilizes Quadrant Information Services to analyze 2023 rates for ZIP codes and carriers in all 50 states and Washington, D.C. 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 2021 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.
Our 2023 Bankrate Score considers variables our insurance editorial team determined impacts policyholders’ experiences with an insurance company. These rating factors include a robust assessment of each company’s product availability, financial strength ratings, online capabilities and customer and claims support accessibility. Each factor was added to a category, and these categories were weighted in a tiered approach to analyze how companies perform in key customer-impacting categories.
Like our previous Bankrate Scores, each category was assigned a metric to determine performance, and the weighted sum adds up to a company’s total Bankrate Score — out of 5 points. This year, our 2023 scoring model provides a more comprehensive view, indicating when companies excel across several key areas and better highlighting where they fall short.
- Tier 1 (Cost & ratings): To determine how well auto and home insurance companies satisfy these priorities, 2023 quoted premiums from Quadrant Information Services (if available), as well as any of the latest third-party agency ratings from J.D. Power, AM Best and the NAIC, were analyzed.
- Tier 2 (Coverage & savings): We assessed companies’ coverage options and availability to help policyholders find a provider that balances cost with coverage. Additionally, we evaluated each company’s discount options listed on its website.
- Tier 3 (Support): To encompass the many ways an auto insurance company can support policyholders, we analyzed avenues of customer accessibility along with community support. This analysis incorporated additional financial strength ratings from S&P and Moody’s and factored a company’s corporate sustainability efforts.