Which companies have cheap car insurance?
For good drivers, Erie, Geico and State Farm generally have the cheapest car insurance, based on our analysis of average rates.
USAA also has very competitive rates but is available only to military members, veterans and their families.
What is the cheapest type of car insurance?
An insurance policy with only the minimum coverage required in your state would be the cheapest type of car insurance. Most states require a minimum level of liability car insurance. Some states also require minimum levels of uninsured motorist coverage and other types of coverage.
If you live in a state with a no-fault insurance system, you’ll also have to buy PIP insurance.
Should I drop collision and comprehensive coverage to get cheap car insurance?
At some point, as your vehicle gets older, paying for collision and comprehensive coverage no longer makes sense. That’s because the maximum payout would be the value of the car if it’s totaled or stolen, minus your deductible. If your car is worth very little, you’re paying for coverage that may result in only a small insurance check.
But if you would be in a financial jam if your car were totaled, stolen or extensively damaged by a problem covered by the collision and comprehensive insurance, keeping them makes sense.
How do I get cheap car insurance for a teenager?
Putting a teen behind the wheel is an expensive proposition. Our analysis found an average increase of $2,189 a year to add a teen driver to a car insurance policy. Your prices will vary, but you can expect your rates to double, at least.
This is an excellent time to shop around. Insurers have different rate increases for adding a teen driver, but compare the total bill for the parents and teen. And adding a teen driver to a parent’s policy is usually cheaper than putting them on their own policy.
How can I find the cheapest car insurance quotes?
If your goal is the cheapest car insurance quotes possible, you’re likely looking to buy only the minimum insurance required in your state. Shop around multiple companies and compare car insurance quotes for the minimum required.
Also consider your vehicle: It could be pushing up your rates. Cars, such as certain Tesla models, often have expensive rates because their owners are more likely to make insurance claims. Our analysis of the most and least expensive cars to insure can point you toward vehicles that can snag cheaper car insurance.