Top Car Insurance Companies of 2024

 

Top Car Insurance Companies of June 2024

Overview

Company	Our  Advisor Rating	Collision Repair Grade
Nationwide	5.0	C
USAA	4.8	D+
Travelers	4.7	C
Erie	4.6	A-
Progressive	4.4	C
Geico	4.2	C-
Westfield	4.2	B
Auto-Owners	4.0	B

Detailed Insights

Best Overall: Nationwide

• Average Annual Cost: $1,436
• Collision Repair Grade: C
• Digital Experience: Average

Pros:

• Low rates for teens and seniors
• SmartMiles pay-per-mile program
• Accident forgiveness, gap insurance, new car replacement, and vanishing deductible options

Cons:

• Average digital experience
• Collision repair grade is average

Summary: Nationwide offers competitive rates across various driving records and ages, supplemented by a wide range of coverage options and low complaint rates.

Best for Military Members & Veterans: USAA

• Average Annual Cost: $1,364
• Collision Repair Grade: D+
• Digital Experience: Average

Pros:

• Lowest average rate for good drivers
• Accident forgiveness and new car replacement
• Rideshare insurance and low complaint levels

Cons:

• Only available to military members, veterans, and their families
• Collision repair grade is below average

Summary: USAA caters specifically to the military community with low rates and tailored coverage options, making it a top choice for eligible members.

Great for Drivers with Speeding Tickets: Travelers

• Average Annual Cost: $1,521
• Collision Repair Grade: C
• Digital Experience: Average

Pros:

• Responsible Driver Plan with accident and minor violation forgiveness
• New car replacement coverage
• Low level of complaints

Cons:

• Average digital experience
• Collision repair grade is average

Summary: Travelers is ideal for drivers with speeding tickets, offering comprehensive coverage options and competitive rates.

Best for Drivers Who Caused an Accident: Erie

• Average Annual Cost: $1,642
• Collision Repair Grade: A-
• Digital Experience: Poor

Pros:

• Excellent rates for drivers who caused accidents
• Gap insurance, new car replacement, accident forgiveness, and vanishing deductibles
• Rate Lock feature for consistent pricing

Cons:

• Poor digital experience

Summary: Erie excels in providing low rates and excellent service for drivers with accidents on their record, along with high customer satisfaction.

Best for Drivers with a DUI: Progressive

• Average Annual Cost: $1,826
• Collision Repair Grade: C
• Digital Experience: Good

Pros:

• Lowest rates for drivers with a DUI
• Accident forgiveness, gap insurance, and vanishing deductible options
• SR-22 filings available

Cons:

• Average rates for good drivers

Summary: Progressive stands out for drivers with a DUI, offering affordable rates and robust coverage options.

Great for Drivers with Poor Credit: Geico

• Average Annual Cost: $1,597
• Collision Repair Grade: C-
• Digital Experience: Very Good

Pros:

• Competitive rates for drivers with poor credit and other profiles
• Accident forgiveness, non-owner policies, and SR-22 filings
• High digital experience rating

Cons:

• Collision repair grade is below average

Summary: Geico is a solid choice for drivers with poor credit, providing competitive rates and excellent digital services.

Best for Family Discounts: Westfield

• Average Annual Cost: $1,984
• Collision Repair Grade: B
• Digital Experience: Very Poor

Pros:

• Various family discounts, including for teen and young adult drivers
• Gap insurance, new car replacement, and accident forgiveness
• Low complaint levels

Cons:

• Poor digital experience

Summary: Westfield offers numerous family discounts and solid coverage options, making it ideal for families.

Best for New Cars: Auto-Owners

• Average Annual Cost: $1,855
• Collision Repair Grade: B
• Digital Experience: Very Poor

Pros:

• Two types of new car replacement coverage and gap insurance
• Purchase price guarantee and total loss to a new automobile coverage
• Low complaint levels

Cons:

• Poor digital experience

Summary: Auto-Owners provides exceptional coverage options for new car owners, including unique replacement coverage and gap insurance.

Expert Tips for Finding the Best Car Insurance

• Shop Around Regularly: Comparing quotes frequently ensures you get the best rates and coverage.
• Ask for Discounts: Contact your insurer to explore available discounts.
• Use Multiple Resources: Utilize online quotes, local agents, and recommendations from family and neighbors.

Average Car Insurance Costs

• National Average: $2,026 annually ($169 monthly)
• Cheapest Provider for Good Drivers: USAA - $1,364 annually

Car Insurance Rates by State

• Highest: Florida - $3,865
• Lowest: Alaska - $1,913

Types of Car Insurance

• Liability Insurance: Covers damages and injuries to others if you're at fault.
• Uninsured Motorist Insurance: Covers your medical expenses if hit by an uninsured driver.
• Personal Injury Protection (PIP): Covers medical expenses, lost wages, and more, regardless of fault.
• Collision Insurance: Pays for repairs to your car after an accident.
• Comprehensive Insurance: Covers non-collision-related damages like theft or natural disasters.
• Rental Reimbursement: Pays for a rental car while yours is being repaired.
• Gap Insurance: Covers the difference between the insurance payout and the amount owed on a loan or lease.