Who Has the Cheapest Auto Insurance?

There are so many factors considered when premiums are calculated that it is often difficult to say which vehicle insurance companies will come up with the best quotes for a particular applicant. Age, gender, driving history, experience, type of vehicle, zip code, profession, credit history and yearly mileage are only some of the factors used. Nevertheless, there are studies, customer experiences, advertisements and known discounts to have a good guess as to who might have the cheapest auto insurance for an applicant with a typical profile like being young, having low credit, clean history, driving less.

Not only State Farm, GEICO, Nationwide and Progressive are very reputable and sizable companies but also they are often one of the cheapest providers. Auto Owners, Eire and Amica are smaller in size but they have high customer satisfaction as well as competitive rates for most drivers. Motorists with clean driving records, can try these companies to get the best rates and have great customer experience after.

But motorists are advised to get at least 5 quotes and look at the final price, rather than chasing brand names and particular discounts. You may be happy to find a carrier offering a 10% good student discount but another vehicle insurer may be offering a 20% discount for having a safe car and low mileage and you may miss out on it if you take the first quote without getting several others.

Once again, State Farm appears to be the cheapest company for drivers seeking discounts for low mileage. Although they are not available in every state at the moment, Metromile and Lemonade are the two fairly young insurers famous for providing car insurance based on mileage and likely to be cheaper in states they serve.

For example, people with bad credit records may think that a company who has the best automobile insurance rates for them would be the one not basing premium calculations on credit ratings. They would look for such carriers due to this false assumption and ignore traditional companies like GEICO, who are known to offer the best rates for motorists with poor credit. Besides, insurers who don’t check credit may be already very expensive to start with so they wouldn’t be competitive.

In the same way, you may be looking to insure a younger driver and under the impression that traditional companies would be too picky to offer good rates for them so may try hard to find a specialist insurer or agent. But a traditional carrier you never thought would give good rates for teenagers may be the most competitive in the end. Actually, State Farm, Erie and Auto Owners are some of the cheapest auto insurance companies for young drivers.

There are so many examples to share. One may advertise 10% discounts for loyal customers. This would suggest that such customers would do well by staying put. However, another company may give them a 20% discount for switching. Currently, Progressive, Liberty Mutual and State Farm are advertising savings for switching.

Furthermore, these discounts and savings may be available today and gone tomorrow. It is possible that your friends may have gotten a great deal from a particular name but their circumstances would be much different than yours. You can check for names known to give low prices for youngsters. Nonetheless, you mustn’t neglect getting several quotations from the usual suspects.

If you are over 50, you may want to join AARP to use your membership to get car insurance discounts from the Hartford. If you have AAA roadside recovery membership, you may want to check if that would qualify you for cheap car insurance with AAA. Also, you may check with your local Farm Bureau to see if your membership would help you get cheap farm vehicle insurance.

Keep all of the above points in mind when you are searching to find out who has the cheapest car insurance for you. Often, there are valid starting points to consider depending on your background and what type of a driver you are. Some companies are better for certain types of risks and that is why they offer the lowest prices in that area. For example, Titan is a company specialized in high risk drivers and not only they offer coverage to motorists who are struggling to find coverage but also they are likely to be cheaper than the similar competitors.

Here is our list of cheap auto insurance companies who have been mentioned on various other posts on this site. This list is in no particular order. And depending on where you live and what type of a driver you are, one or two of these should offer you affordable quotes.

State FarmProgressiveNationwide
Farm BureausLiberty MutualAmerican Family
Auto-OwnersHartfordGrange Mutual

If you fall into two different driver categories you should check with both groups of carriers in those categories. Also, you should remember to check prices with several other random carriers to see how these are doing lately. Sometimes, they can turn off their low rates for a short while or the cheap offers that make them competitive may expire. The secret is to keep looking until you find the lowest price for the coverage you want. Remember, it doesn’t take long before you start getting clued up about various sources and their pricing. So, don’t be discouraged by one or two high premiums and give up too early.

One of the common mistakes made among policyholders is to assume all vehicle insurers would have about the same rates and therefore it is pointless to check for alternative quotes. This assumption cannot be any wrong as every single one of them is so much different from the next one. Even two of the largest automobile insurance companies can give you quotes that are as much as $1,000 different from each other.

Personal preferences are another factor that will affect choices. It is good to have certain preferences and there is no need to worry that they will restrict the number of choices available. Even if you want to be covered by one of the top 10 largest carriers in the country you have 10 quotes to get. And State Farm, the largest auto insurance company in the US, is one of the cheapest carriers, if not the cheapest anyway. State Farm is also one of the cheapest auto insurers for drivers with a recent speeding ticket or accident.

And, some automobile insurers are known to be generally competitive and yet they don’t have the best prices nationwide. Since every state has its own laws we need to look at who has the cheapest vehicle insurance in your zip code. You can find state by state cheapest carriers on another post. Again, remember to get a few more quotes from other carriers to increase the number in the mix to compare.

It may appear to be complicated and time consuming to find the most affordable rates for you. You will need to spend a little time to find the best auto insurer. Only then you get the desired coverage with savings and be totally happy about it. That is why you should spare a little time and sift through several possible carriers.