If you’ve noticed your car insurance premiums climbing, you’re not alone. Between 2023 and 2024, the average full-coverage policy in the U.S. surged by 25%. With rising costs due to inflation, more expensive car repairs, and increased accident rates, many drivers are feeling the pinch. But don’t worry—there are still ways to find affordable coverage without sacrificing quality.
In this guide, we’ve done the legwork for you by reviewing the best and cheapest car insurance companies of December 2024. We’ve looked at not only price but also coverage options, customer service, and more, to help you make an informed choice. Let’s dive in!
1. Best for Full Coverage: Geico
Why Geico is Top of the List
When it comes to affordable full coverage, Geico consistently stands out. Known for offering some of the lowest rates across the board, Geico is a great option for drivers looking to save money without compromising on coverage.
- Average full coverage premium: $1,782 per year
- Average minimum coverage premium: $465 per year
Key Benefits:
- Available nationwide (in all 50 states)
- 16 discounts, including accident forgiveness and emergency roadside assistance
- No need for in-person visits—everything can be done online
Who’s this for?
Geico is ideal for drivers who need full coverage at an affordable rate, especially those with bad credit, speeding tickets, or accidents on their record. Plus, it’s available everywhere, unlike some other insurers.
2. Best After a Ticket or Accident: Auto-Owners
Why Auto-Owners Works for High-Risk Drivers
If you’ve had a speeding ticket or at-fault accident recently, your premiums might have gone up. Auto-Owners offers some of the most affordable rates for drivers in this category. With excellent customer service and a reputation for high customer satisfaction, Auto-Owners is a solid choice.
- Average full coverage premium: $1,756 per year
- Average minimum coverage premium: $455 per year
Key Benefits:
- At-fault accident forgiveness
- 12 types of discounts available
- Offers additional coverage options like gap insurance and accident forgiveness
Who’s this for?
Auto-Owners is a top pick for drivers with a less-than-perfect driving history, offering lower rates for high-risk drivers.
3. Best After a DUI: Travelers
Why Travelers is Great After a DUI
A DUI conviction can raise your rates by more than 80%. If you’re dealing with this situation, Travelers provides some of the lowest rates for DUI drivers. Plus, it offers a range of discounts to help keep premiums affordable.
- Average full coverage premium: $2,001 per year
- Average minimum coverage premium: $545 per year
Key Benefits:
- SR-22 certificates for DUI drivers
- IntelliDrive program offers up to 30% savings for safe driving
- A variety of discounts, including bundling and good student discounts
Who’s this for?
Travelers is a solid choice for drivers with a DUI on their record, offering some of the most affordable rates and valuable programs to lower premiums.
4. Best for Seniors: Nationwide
Why Nationwide Works for Seniors
If you’re 70 or older, you might see your insurance rates increase. Nationwide offers some of the lowest rates for seniors, along with a unique pay-per-mile option that can be especially beneficial for older drivers who don’t drive often.
- Average full coverage premium: $1,904 per year
- Average minimum coverage premium: $688 per year
Key Benefits:
- SmartMiles pay-per-mile plan saves retirees money
- Defensive driving course discounts for drivers 55+
- Personalized service with an annual On Your Side® Review
Who’s this for?
Seniors and infrequent drivers will appreciate Nationwide’s SmartMiles plan, which can save hundreds of dollars annually by paying for the miles you actually drive.
5. Best for Families with Teen Drivers: State Farm
Why State Farm is Ideal for Families
Teen drivers often lead to higher premiums due to their inexperience on the road. State Farm is one of the best options for families with young drivers, offering affordable rates and great discounts for good students and safe driving.
- Average full coverage premium: $2,743 per year
- Average minimum coverage premium: $874 per year
Key Benefits:
- Up to 25% discount for good students
- Steer Clear® program rewards safe driving habits in drivers under 25
- Rideshare insurance and travel expense coverage
Who’s this for?
Parents with teen drivers will find State Farm’s discounts and flexible policies a great option for saving on car insurance.
6. Best for Homeowners: Amica
Why Amica Shines for Homeowners
If you’re a homeowner, Amica offers generous discounts when you bundle your home and auto policies. Amica’s customer satisfaction ratings are top-notch, making it a great choice for drivers looking to protect their homes and cars at the same time.
- Average full coverage premium: $2,925 per year
- Average minimum coverage premium: $738 per year
Key Benefits:
- Up to 30% off for bundling home and auto policies
- High customer satisfaction ratings
- Dividends for eligible policyholders in some states
Who’s this for?
Homeowners can save a lot by bundling their auto and home insurance with Amica, especially if they value top-tier customer service.
7. Best for Military Members and Veterans: USAA
Why USAA is the Best for Military Families
USAA is a leader when it comes to offering affordable car insurance for military families. With discounts for deployed members and other unique perks, USAA is hard to beat for those who qualify.
- Average full coverage premium: $1,929 per year
- Average minimum coverage premium: $565 per year
Key Benefits:
- Discounts for military members, including storage and deployment
- SafePilot telematics program offers up to 30% off for safe driving
- Excellent customer satisfaction and financial strength
Who’s this for?
If you’re a current or former service member (or part of a military family), USAA’s rates and discounts are hard to beat.
Common Mistakes That Drive Up Your Car Insurance Premiums (And How to Avoid Them) – Digitalhint
How to Find the Cheapest Car Insurance for You
While we’ve highlighted some of the most affordable options, there are several ways to lower your car insurance premiums:
- Shop Around: Rates can vary widely between insurers. Getting multiple quotes can help you find the best price.
- Increase Your Deductible: A higher deductible means lower premiums. Just make sure you can afford the deductible if you need to file a claim.
- Look for Discounts: Many companies offer discounts for good students, safe driving, bundling policies, and more.
- Improve Your Credit: In most states, a better credit score can lead to lower premiums.
Conclusion: Finding the Best Deal for Your Situation
The cheapest car insurance will depend on your personal situation, including your driving history, the state you live in, and any discounts you may qualify for. Geico and Auto-Owners are among the top choices for most drivers, but if you have specific needs, such as a DUI or teen driver, other options like Travelers and State Farm may be better suited for you.
Don’t forget to compare quotes, review policy details, and explore available discounts to ensure you get the best deal. By doing a little research, you can keep your car insurance affordable without sacrificing quality coverage.
