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In this economic climate, it may seem obvious to want cheap auto insurance. However, since every business is unique, what’s cheapest for one driver might not be the best deal for you.
Hence, Thenumberstory completed the research on your behalf. In order to locate affordable auto insurance across a number of categories, we examined minimum and full coverage auto insurance quotes from 139 car insurance providers across the nation.
| Cheapest by category | Company | Average monthly rate |
| Large company | State Farm | $39 |
| Midsize company | American National | $27 |
| After a speeding ticket | State Farm | $46 |
| After an accident | State Farm | $51 |
| After a DUI | Progressive | $60 |
| If you have poor credit | Geico | $57 |
| Young drivers | Geico | $79 |
| Senior drivers | State Farm | $38 |
| Full coverage | Travelers | $140 |
Check out Thenumberstory list of the top low-cost auto insurance providers if you’re looking for the best of the cheapest. Alternatively, read on for more affordable auto insurance choices.
How we found the cheapest car insurance
The editorial staff of thenumberstory examined minimum and comprehensive coverage auto insurance quotes from Quadrant Information Services, a pricing analytics provider. We examined 35-year-old drivers with a range of driving and credit histories from all ZIP codes in the 50 states and Washington, D.C. Every driver possessed a Toyota Camry LE from 2021.
The average annual cost of full coverage can be nearly $1,500 higher than that of minimum coverage. This is due to the fact that it includes extra protection such as comprehensive and collision insurance, as well as uninsured/underinsured motorist protection.
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Your lender will probably insist that you purchase comprehensive and collision coverage if you have a car loan or lease. These coverage options reimburse you, among other things, if your vehicle is stolen or gets damaged in an accident that you cause.
Cheap car insurance companies
After analyzing minimum coverage rates for 2024, thenumberstory found that State Farm is the most affordable large auto insurance company in the country for safe drivers. The average annual rate for State Farm was $471, or roughly $39 per month. You can read our State Farm auto insurance review to find out why the number story gave the company a 5-star rating.
Cheap car insurance from large companies
Here are the cheapest large insurers for minimum coverage.
| Company | Average annual rate | Average monthly rate |
| State Farm | $471 | $39 |
| Geico | $491 | $41 |
| Travelers | $520 | $43 |
| Nationwide | $785 | $65 |
| USAA* | $362 | $30 |
Cheap car insurance from midsize companies
You don’t have to stick with big insurance companies in order to find inexpensive auto insurance. Car insurance may be more reasonably priced from smaller providers that cover several states.
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These are the midsize insurers with the lowest minimum coverage costs.
| Company | Average annual rate | Average monthly rate |
| American National | $322 | $27 |
| Auto-Owners | $374 | $31 |
| Erie | $393 | $33 |
| California Casualty | $440 | $37 |
| Pure | $449 | $37 |
We selected these providers due to their availability in several states and comparatively affordable auto insurance rates. However, where you live, there might be more affordable options for auto insurance. To assist in comparing rates with smaller, less well-known companies, think about collaborating with an independent agent or insurance broker.
Cheap car insurance after a speeding ticket
If you have a speeding ticket on your driving record, your auto insurance premium will probably go up. Our research shows that State Farm has the most affordable rates following a speeding ticket, at an average of $553 annually, or $46 monthly.
These are the lowest priced auto insurance providers for drivers with minimal coverage and a speeding ticket history.
| Company | Average annual rate | Average monthly rate |
| State Farm | $553 | $46 |
| Geico | $619 | $52 |
| Travelers | $660 | $55 |
| Progressive | $712 | $59 |
| USAA* | $432 | $36 |
Cheap car insurance after an accident
What is the most affordable car insurance company varies based on your driving record. The biggest insurance providers’ average rates for drivers with recent accidents on their record are displayed in the table below.
According to our analysis, State Farm offers the lowest average premium ($615, or $51 per month), for drivers who have had one at-fault accident.
These are the lowest priced auto insurance providers for drivers with minimum coverage and a history of at-fault accidents.
| Company | Average annual rate | Average monthly rate |
| State Farm | $615 | $51 |
| Travelers | $686 | $57 |
| Progressive | $815 | $68 |
| Geico | $825 | $69 |
| USAA* | $533 | $44 |
Cheap car insurance after a DUI
Your premium for auto insurance may go up significantly if you have a DUI on your record. Our research shows that Progressive is the best option for affordable auto insurance after a DUI, charging an average of $716 annually, or $60 per month.
For drivers with minimum coverage and a recent DUI, these are the least expensive auto insurance providers.
| ompany | Average annual rate | Average monthly rate |
| Progressive | $716 | $60 |
| State Farm | $800 | $67 |
| Travelers | $884 | $74 |
| American Family | $889 | $74 |
| USAA* | $670 | $56 |
Cheap car insurance for drivers with poor credit
Credit-based insurance scores are another tool that many insurers use to determine auto insurance rates. If you have bad credit, this may make it more difficult to find affordable auto insurance.
Insurers are not permitted to use credit to determine rates for auto insurance in California, Hawaii, or Massachusetts.
The impact of credit on auto insurance rates can be startling. Drivers with bad credit may pay, on average, more than $300 more annually than those with excellent credit.
If you have inconsistent credit and are seeking for reasonably priced auto insurance from a major provider, Geico may be a good place to start. The company offers the lowest average rates for good drivers with bad credit, at $689 per year, or $57 per month, according to our analysis of major insurers.
| Company | Average annual rate | Average monthly rate |
| Geico | $689 | $57 |
| Allstate | $802 | $67 |
| Travelers | $871 | $73 |
| Progressive | $872 | $73 |
| USAA* | $597 | $50 |
Cheap car insurance for young drivers
It could be difficult for young drivers to find affordable auto insurance. This is because drivers without a recent driving record are considered riskier to insure by auto insurers. The same applies to foreign nationals, drivers with lapsed auto insurance, and tourists. If you live with your family, it might be less expensive to continue using their insurance until you have a more extensive driving record.
For drivers under twenty who want the minimum coverage, these are the most affordable auto insurance providers.
| Company | Average annual rate | Average monthly rate |
| Geico | $951 | $79 |
| Progressive | $1,076 | $90 |
| Travelers | $1,086 | $91 |
| State Farm | $1,202 | $100 |
| USAA* | $737 | $61 |
Cheap car insurance for senior drivers
As you initially reach your golden years, car insurance is comparatively cheap. Our research shows that 60-year-old drivers with spotless driving records and a high credit score can get some of the best deals on auto insurance. This can be attributed to the years of driving experience that people 60 years of age have accumulated. That being said, rates begin to rise as you get older.
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These are the lowest average premiums for minimum coverage drivers between the ages of 60 and 70.
| Company | Average annual rate for 60-year-old drivers | Average annual rate for 70-year-old drivers |
| State Farm | $439 | $459 |
| Geico | $464 | $529 |
| Travelers | $482 | $558 |
| Progressive | $532 | $587 |
| USAA* | $317 | $358 |
Cheap car insurance for senior drivers
As you initially reach your golden years, car insurance is comparatively cheap. Our research shows that 60-year-old drivers with spotless driving records and a high credit score can get some of the best deals on auto insurance. This can be attributed to the years of driving experience that people 60 years of age have accumulated. That being said, rates begin to rise as you get older.
These are the lowest average premiums for minimum coverage drivers between the ages of 60 and 70.
| Company | Average annual rate for 60-year-old drivers | Average annual rate for 70-year-old drivers |
| State Farm | $439 | $459 |
| Geico | $464 | $529 |
| Travelers | $482 | $558 |
| Progressive | $532 | $587 |
| USAA* | $317 | $358 |
Cheap car insurance for full coverage
A full coverage auto insurance policy combines several types of coverage. Higher liability coverage limits than those mandated by most states, comprehensive and collision insurance, and uninsured and underinsured motorist protection are usually included. Although full coverage is more expensive than minimum coverage, it provides drivers with greater financial protection while they are driving. Your lender probably needs it if you have a loan or lease.
Here are the cheapest auto insurance companies for full coverage.
| Company | Average annual rate | Average monthly rate |
| Travelers | $1,681 | $140 |
| American Family | $1,791 | $149 |
| Geico | $1,846 | $154 |
| State Farm | $1,976 | $165 |
| USAA* | $1,432 | $119 |
Cheapest car insurance by state
“What’s the cheapest auto insurance near me?” is probably what’s on your mind. Because prices differ from state to state, what qualifies as inexpensive auto insurance will vary depending on where you live.
We located the average lowest car insurance provider for minimum coverage in every state as well as Washington, D.C. for comparison’s sake.
Nevertheless, state averages are only so useful. Minimum coverage rates for auto insurance can vary even within states. For this reason, thenumberstory examined rates in a few of the biggest American cities.
In conclusion, finding affordable car insurance involves comparing rates, coverage options, and customer reviews. Top cheapest companies often include GEICO, State Farm, and Progressive. They offer competitive pricing without compromising on essential coverage, making them ideal choices for budget-conscious drivers seeking reliable insurance solutions.
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