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Jan 14 2020

Compare insurance rates # Video

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Compare insurance rates

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Compare Car Insurance Rates

Learn more about the factors that dictate your car insurance rates, compare top insurers, and save.

How to find affordable auto insurance rates

If you’ve ever compared car insurance rates, you know how many options are available. Depending on a variety of individual rating factors, certain companies will price your insurance differently. You could end up paying more by choosing the wrong company or failing to compare enough companies. We’ve outlined the factors that go into your car insurance premiums, as well as some tips for how to find the best possible rates. Let’s get started.

Understanding and comparing car insurance rates

What goes into car insurance rates?

Your auto insurance rate depends on who you are as a driver, as well as your age, your credit, your vehicle, and your location. How insurance companies weigh these attributes is reflected in your premium. For example, having a limited driving history or a poor credit score can raise your rates dramatically. Our analysis of major rating factors shows how premiums shift from company to company.

Comparing car insurance rates by age and insurance provider

Car insurance rates for teenage drivers

If you have teens or you’re a teen driver, you know it’s expensive. In many cases, adding a teen to your policy will nearly double your premium. Comparing five major car insurance companies across the US, GEICO and Progressive are the cheapest companies for a teen driver.

Adding a teen driver to your car insurance policy

Company Premium
State Farm $2,999
Allstate $2,295
GEICO $987
Progressive $1,231
Liberty Mutual $1,676

If you’re looking for more information on car insurance coverage for teens, see additional articles:

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Car insurance comparison: young adult drivers

The age of 25 is a big turning point for car insurance savings. But no matter how much you save, you’re probably still paying more than you’d like. In order to find the cheapest car insurance for 25-year-olds, we created a user profile and generated rates from five popular auto insurance companies.

Comparing 6-month car insurance premiums for 25-year-olds

Company Premium
State Farm $1,142
Allstate $1,107
GEICO $884
Progressive $807
Liberty Mutual $2,050

Progressive is the cheapest car insurance company for 25-year-old drivers, with GEICO a bit more expensive. Although Liberty Mutual and State Farm are the most expensive options for older drivers, they could end up being affordable options for drivers with violations on their records (read on for more info).

If you’re looking for more information on how to get car insurance as a young driver, see our additional articles:

Car insurance for seniors

Between the ages of 30 and 60, car insurance rates don’t fluctuate much based only on age. As you get into your late 50s and 60s, your age becomes a more important determinant of your rate. For a profile of a married couple without children drivers, Geico and Progressive offer the cheapest rates, all other metrics constant.

6-month car insurance premiums for seniors

Company Premium
GEICO $493
Progressive $618
State Farm $1,048
Allstate $1,047
The Hartford $1,301

Looking for more information? See our additional articles.

Compare rates and choose a policy!

Car insurance comparison by driving history

Naturally, insurance companies use your driving past as an indicator of how you will drive in the future. It can be difficult to find affordable car insurance if you have a checkered driving history. While it’s very unlikely you will find an insurance company that won’t increase your premium after an at-fault accident or other violation, the degree of the rate increase will vary by company. Let’s compare rate increases for some common violations across major insurance companies.

At-fault accidents and car insurance rates:

On average, an at-fault property damage accident with a claims payout exceeding $2,000 will raise your premium by an average of $726 per year. Over three years, that adds up to $2,178! If you’re thinking of filing a claim, consider the overall cost of the claim versus what the claim would cost to pay out of pocket. Compare this $2,178 penalty — plus your deductible — to the out-of-pocket expense. While this is nice information to know before filing a claim, it won’t help if you’ve already filed a claim. If you have an at-fault accident on your insurance history, consider Nationwide or Farmers.

Annual premium with an at-fault accident

Company No Accident After At-Fault Accident
Allstate $1,559 $2,323
GEICO $1,521 $2,282
Farmers $1,434 $2,154
Liberty Mutual $1,513 $2,218
Nationwide $1,321 $1,986
Progressive $1,493 $2,240
State Farm $1,514 $2,234
DUI conviction

In most states, a DUI is the most costly violation you can receive. Moreover, in states like California, it will stay on your insurance record for 10 years! Based on our analysis of the most popular car insurance companies, this would set you back an average of $12,491 in insurance rate increases during that 10-year period. To limit your costs, do your due diligence and shop around: State Farm and Liberty Mutual are the cheapest insurance options after a DUI — so consider starting there.

Annual auto insurance comparison after DUI conviction

Company None Premium after DUI
Allstate $1,559 $2,742
Geico $1,521 $2,632
State Farm $1,514 $2,478
Liberty Mutual $1,513 $2,248
Progressive $1,493 $2,900
Farmers $1,493 $3,461
Nationwide $1,321 $2,679
Reckless Driving

Like a DUI, a reckless driving citation can raise your car insurance rates. If you’ve received a reckless driving citation, your best bets for cheap car insurance are Nationwide and Liberty Mutual, despite the latter being one of the more expensive insurance options if you don’t have a violation. This shows the importance of comparing car insurance rates carefully — your driving profile will be handled differently by every company.

Annual Premium with Reckless Driving Charge

Company None Premium at Reckless Driving
Liberty Mutual $1,513 $2,304
Nationwide $1,321 $2,221
State Farm $1,514 $2,454
GEICO $1,521 $2,257
Allstate $1,599 $2,695
Progressive $1,493 $2,830
Farmers $1,434 $3,681

For more information on driving with a not-so-great profile, check out our more in-depth articles here

Compare top insurance companies now!

Compare car insurance by credit score

Another major contributor to your car insurance rate is your credit score. While not directly related to your driving, car insurance companies believe your credit score says a lot about what kind of client you’ll be. Compare how car insurance companies factor credit score into their rates:

Annual car insurance premiums (very poor credit):
Company Credit Score: (300-579)
Farmers $2,044
Nationwide $2,411
Progressive $2,616
GEICO $2,720
State Farm $2,907
Liberty Mutual $2,911
Allstate $2,913

If you have very poor credit, the cheapest car insurance company is Farmers, where your premium will be more than $600 less than the group average. Still, if you compare to the highest credit level you can see you can see how impactful your premium is if your credit is poor. Compared to the “great” credit tier, there’s a difference of nearly $1,400 per year. Just another reason to keep your score up!

Annual car insurance costs for fair credit
Company Credit Score: (580-669)
Farmers $1,774
Nationwide $1,983
Progressive $2,157
GEICO $2,212
State Farm $2,359
Liberty Mutual $2,335
Allstate $2,403

With rates $400 less than the group average, Farmers offers the cheapest insurance for drivers with “fair” credit scores. Even so, a fair credit score will result in elevated rates. While the average premium for fair credit drivers is $2,189, that’s $900 more than those with “great” credit are paying, with all other metrics constant.

Annual premiums with good credit
Company Credit Score: (670-739)
Farmers $1,558
Nationwide $1,558
Progressive $1,802
GEICO $1,804
State Farm $1,916
Liberty Mutual $1,886
Allstate $1,984

As we get into the higher levels of credit score, the car insurance rates get a little more competitive. Although those with a credit score between 670-739 are still paying $531 more per year than the highest credit tier, you can cut this difference down to $277 if you select Farmers as your insurance company.

Annual car insurance rates with very good credit
Company Credit Score: Very Good (740-799)
Farmers $1,396
Nationwide $1,349
Progressive $1,520
GEICO $1,490
State Farm $1,572
Liberty Mutual $1,545
Allstate $1,684

Between “very good” and “great” credit, there’s an average of $236 in annual premium difference. For our user profile, Farmers and Nationwide are the cheapest for this credit level. With these companies, this premium difference drops to between $68-$114.

Annual auto insurance premiums with great credit
Company Credit Score: Great (800-850)
Farmers $1,265
Nationwide $1,130
Progressive $1,295
GEICO $1,246
State Farm $1,292
Liberty Mutual $1,281
Allstate $1,383

At the highest credit trier, Nationwide is the cheapest car insurance company. At $152 less per year than the group average, Nationwide will set you back $1,130 per year for insurance and about $565 for a standard 6-month policy.

Compare rates today!

Compare car insurance costs by vehicle make and model

The type of vehicle you insure will impact your car insurance rate. Insuring a large truck or luxury vehicle is more expensive than insuring a sedan with standard trim. This is because collision and comprehensive coverage are designed to replace your vehicle in the event of an accident. The more it costs to replace your vehicle, the more it costs to insure it. Simple as that.

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Compare car insurance rates by location

Your location can have a huge impact on your insurance premium. Like many industries in the US, car insurance is regulated at the state level and is dictated by each state’s regulations. If you live in an area prone to floods, hurricanes, or wildfires, your rate will be elevated, as insurance companies compensate for these risks. Dive into the data and find check out your expected costs with our list of car insurance rates by city.

Cheapest average car insurance by region (annual)

Region Cheapest Company Average Annual Premium
Farwest Liberty Mutual $1,269
Great Lakes Cincinnati Financial $1,037
Mideast Erie $1,393
New England MMG Insurance Company $927
Plains Grinnell Mutual $1,015
Rocky Mts Farm Bureau $1,018
Southwest American Family $1,247
Southeast AmTrust $865

If you live in an area with unusual state regulations or heightened risk of weather-related claims, shopping car insurance options will be vital. Not every car insurance company offers policies in every state, which can make pricing less competitive. If you live in storm-prone states like Louisiana or Florida, you might find it harder to get a competitive rate.

While many factors comprise your car insurance costs, we tried to touch on some of the bigger ones. If you’re interested in all the other rating factors, such as your homeowner status or education level, see our additional articles:

Start shopping!

How to compare car insurance rates

Now that you understand what contributes to car insurance rates, let’s talk about how to shop for car insurance. Unless you want to spend a significant amount of time talking to an insurance agent, make sure you have the following information ready when you begin your car insurance shopping process.

  • Personal information of anyone on the policy, including date of birth, driver’s license number, and address (if different from your own)
  • Driving history of all drivers on the policy
  • Insurance history of all drivers on the policy
  • Vehicle information of all vehicles on the policy including VIN
  • Payment: if you’re getting a policy for the first time, it’s likely the insurance company will require a down payment before the policy is bound (accepted).

While you might want to finish shopping for car insurance as quickly as possible, it’s important to do your due diligence and find the right company. At the end of the day, car insurance is designed to protect and benefit you. If you were to be injured or have your car totaled in an accident, your insurer’s customer service and claims satisfaction would be vital.

We’ve listed America’s best auto insurance companies, according to J.D. Power Customer Satisfaction Surveys, with corresponding average annual premiums.

Highest-ranked car insurance companies in the US

Region Cheapest Company
Amica $1,317
Auto-Owners $1,934
PEMCO $1,160
Farm Bureau Insurance – Tennessee $1,315
Texas Farm Bureau $1,810
The Hartford $1,301

There isn’t a definitive answer to the question, “which company is the cheapest?” Some companies are cheaper than others, plain and simple, but individual details of your driving profile can affect which companies offer you the cheapest rates. For example, while Liberty Mutual wasn’t the cheapest for a driver with a clean record, it was the cheapest for a driver following a DUI. The best way to find cheap car insurance is to compare as many companies as possible using your driving profile.

While JD Power-recommended companies above aren’t among the cheapest of the insurance companies we’ve examined, they might suit your needs. It’s important to think beyond price to find a comfortable middle ground between claims satisfaction and affordability. Use The Zebra’s side-by-side insurance comparisons to avoid some of the legwork involved in insurance shopping.

See personalized insurance rates!

Methodology

Between September and December 2017, The Zebra conducted comprehensive auto insurance pricing analysis using its proprietary quote engine, comprising data from insurance rating platforms and public rate filings. The Zebra examined nearly 53 million rates to explore trends for specific auto insurance rating factors across all United States zip codes, averaged by state, including Washington, DC.

Analysis used a consistent base profile for the insured driver: a 30-year-old single male driving a 2013 Honda Accord EX with a good driving history and coverage limits of $50,000 bodily injury liability per person/$100,000 bodily injury liability per accident/$50,000 property damage liability per accident with a $500 deductible for comprehensive and collision. For coverage level data, optional coverage (that must be rejected in writing) is included where applicable, including uninsured motorist coverage and personal injury protection.

National property and casualty losses information is from the Insurance Information Institute and the NOAA National Centers for Environmental Information U.S. Billion-Dollar Weather and Climate Disasters report.

For vehicle make and model data, analysis referenced the most popular vehicles in the U.S. by 2016 year-end sales, according to Goodcarbadcar.net’s automakers’ data.

Some rate data may vary slightly throughout report based on rounding. Learn more about our methodology.

Don’t just take our word for it

Read real reviews from our customers and see why The Zebra is the #1 insurance comparison site.

The Zebra is rated 4.7 out of 5 based on 845 reviews.

Recent Questions:

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SOURCE: http://www.thezebra.com/auto-insurance/

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