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Cheapest Car Insurance Companies of 2019

There is no way around the problem: you need car insurance. Your state automobile insurance regulations probably require you to take out some form of insurance, and your finance or car leasing company may need coverage, and let's face it, you probably do not want to have to pay thousands dollars to repair a vehicle, property repairs or medical expenses in the event of an accident.

In short, you buy a car insurance policy from an automobile insurance company. You pay them annual bonuses and, in the event of an accident, you make a claim that covers your financial losses resulting from the accident. Read how auto insurance works and how much do I need? for more information.

Getting a good deal on auto insurance means finding the right balance between the coverage you want and the annual premiums that fit your budget. We have found the cheapest car insurance companies to help you find the car insurance company that fits your budget.

Cheapest Car Insurance Companies

  • USAA is the cheapest auto insurance company on our list, with a study rate of $ 895. USAA presents the cheapest auto insurance study rates for different demographic profiles used in our study, ranging from 25-year-old men to 60-year-old women.
  • Geico is the second-cheapest car insurance company based on a study rate of $ 1,063. Geico's representative rates for the 25-year-old driver profiles included in our study are significantly lower than those of most competitors, as are their study rates for driver profiles with a recorded accident.
  • Travelers rank third in our ranking of the cheapest auto insurance companies, with a representative rate of $ 1,212. For most driver profiles, Travelers remains the third lowest cost option, although in some cases it ranks fourth behind State Farm.
  • State Farm is the cheapest auto insurance company in our analysis, with a study rate of $ 1,260. This is well below the average of the nine major car insurance companies on our list.
  • The rates for the Progressive Automobile Insurance Representatives are the fifth lowest of the companies on this list and are $ 1,308 per year based on the driver profiles used in the study. The progressive rates of our study for some profiles, such as 60 years old, are quite competitive.
  • In our study, American Family has the sixth-lowest car insurance rate in our study, at $ 1,326 a year, based on the driver profiles we used. Notably, the representative American Family rate is the first to be above the national average of $ 1,323 - but not much.
  • According to our analysis, Nationwide is the seventh cheapest car insurance company. Study rates between American Family and Nationwide have increased significantly (about $ 200), with the company's study rate of $ 1,530. Although it is more expensive than most competitors, we found that Nationwide is among the cheapest study rates for poorly credited driver profiles.
  • Farmers' auto insurance rates in our analysis are slightly above average at $ 1,538. This makes Farmers the second most expensive insurance company, according to our study.
  • In our study, Allstate had rates of up to $ 1,778 per year based on our driver profiles. That's about $ 450 more than the national average used in our analysis and almost $ 900 more than the representative rates of the least expensive company in our study, the US.

It is important to note that not all of these companies are available nationally. In fact, only the United States, Geico, State Farm and Allstate are available in all 50 states and in the District of Columbia. American Family and Travelers are only available in 19 and 24 states, respectively. Farmers is available in 31 states, Nationwide in 43 and Progressive in 48.

How we found the cheapest car insurance companies
In the United States, we primarily want to help people make important decisions. Our college rankings, launched in 1983, set the standard for ranking educational institutions. Our rankings in other areas, such as health care, civic and automotive, help people and opinion leaders make life-enhancing choices. Now we continue to provide you with the information you need to make the right choices for your life with our cheapest car insurance rankings.

Our study rates
For this study, US News worked with Quadrant Information Services to provide a report on average insurance rates in the 50 states of the top 10 national auto insurance companies. Quadrant obtained the tariff data provided by the automobile insurers to the supervisory authorities, based on the profiles of male and female drivers aged 25, 35 and 60 years. annual mileage of 6,000 and 12,000. Three levels of auto insurance coverage were used, as were good, fair and mediocre credit levels. Clean driving records and records with an accident, a speed violation and a DUI were also used in the calculations.

To obtain the study rates shown here, we calculated a simple average of all driver profiles and profile combinations for a given company or risk group. Rates shown here are for comparison purposes only and should not be considered as "average" rates available to individual insurers. The individual rates will be different.

How much does car insurance cost?
Automobile insurance rates vary depending on your situation, but the average annual representative rate for the nine companies in our study was $ 1,323. We obtained this rate by creating basic driver profiles for all insurers. These profiles covered men and women aged 25, 35 and 60, with a good credit rating, a good driving record, an average level of insurance and 12,000 driving miles per year. Vehicles used include the 2015 Honda Civic, 2015 Toyota RAV4 and 2015 Ford-F-150.

Although the average study rate for all basic driver profiles and all firms in our study is $ 1,323, the profiles of drivers of different ages pay different rates. The average annual rate of 25-year-old driver profiles included in our study was $ 1,508, which is $ 185 more than the average of the basic profiles. In addition, the 60-year-old married driver profiles in our study had an average annual representative rate of $ 1,171, which is $ 152 below the average of the basic driver profiles.

Your driving record influences your car insurance rate. In our study, driver profiles with a clean driving record had a simple and representative average rate of $ 1,323 per year in automobile insurance premiums. The driver profiles with a speeding violation have an average of $ 1,619, and the driver profiles with an accident have a study rate of $ 1,927 based on the data and simple averages used in our study. In our study, driver profiles with a DUI conviction in our study had a simple average rate of $ 2,362 per year for auto insurance. It pays to drive safely.

Credit scores also play a role in auto insurance rates. According to the data, driver profiles with a good credit rating have a simple average representative rate of $ 1,306 per year for auto insurance, while a fair credit score brings the study rate to $ 1,557. . Driver profiles with poor credit ratings have an annual representation rate of $ 2,318 based on the data and methods in our study.

The type of car insurance coverage you choose also affects your rates. Naked driver profiles with low auto insurance coverage had average study rates of $ 1,249 per year, while driver profiles with average coverage had study rates of $ 1,323. Driver profiles with high coverage had average study rates of $ 1,387. While it may be tempting to save money on your auto insurance premiums by opting for lower coverage, not having enough coverage for your situation can be a costly mistake if you have to make a claim. . Read How much car insurance do I need? find the right auto insurance coverage for your situation.

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