The Best Car Insurance Companies in 2024
The best car insurance companies offer rates, coverage options, discounts, and digital tools that fit your individual needs. Our research revealed that these 10 insurers are some of the top car insurance companies available. We’ve highlighted standout features from each company to help you decide which insurer fits your specific needs. Your car insurance needs are unique to your situation, so understanding those needs before you compare auto insurance companies is an important step to finding the best rates and coverage.
Insurance Companies Overview
| Insurance Company | Best For | Our Score |
|---|---|---|
| Amica | Best overall | 4.6/5 |
| Geico | Best overall | 4.4/5 |
| Progressive | High-risk drivers | 4.4/5 |
| Safeco | Added perks | 4.3/5 |
| Auto-Owners | Budget coverage | 4.3/5 |
Amica
Best Overall
Rating: 4.6 stars out of 5
- Avg. Full Coverage Premium: $238/mo
- Customer Satisfaction: 909/1,000
Why this company made our list: Amica’s exceptional claims service and customer-centric business model make it a standout choice for drivers seeking a top auto insurance company that will be there when you need it most.
Availability: Available in all states except Hawaii.
Geico
Best Overall
Rating: 4.4 stars out of 5
- Avg. Full Coverage Premium: $165/mo
- Customer Satisfaction: 874/1,000
Why this company made our list: . Coverage is available for virtually every type of driver, making its car insurance coverage generally accessible.
Availability: Available in all 50 states.
Progressive
Best for High-Risk Drivers
Rating: 4.4 stars out of 5
- Avg. Full Coverage Premium: $171/mo
- Customer Satisfaction: 870/1,000
Why this company made our list: Progressive is the second-largest auto insurance company in the country, dominating just over 14 percent of the market. Its extensive list of coverage options makes it a great choice for all types of drivers, even those who have a DUI conviction.
Availability: Available in all 50 states.
Safeco
Best for Added Perks
Rating: 4.3 stars out of 5
- Avg. Full Coverage Premium: Not available
- Customer Satisfaction: 865/1,000
Why this company made our list: The best car insurance company offers more than just the cheapest rates. Safeco offers numerous perks, such as claims-free cash back and diminishing deductible offerings, that may pique your interest.
Availability: Available in all states except Alaska, Delaware, and Hawaii.
Auto-Owners
Best for Coverage on a Budget
Rating: 4.3 stars out of 5
- Avg. Full Coverage Premium: $141/mo
- Customer Satisfaction: 865/1,000
Why this company made our list: If you live in one of the 26 states where Auto-Owners writes car insurance policies, you might want to include it on your list. Auto-Owners offers three different student discounts and fairly competitive rates for drivers 25 and under.
Availability: Available in 26 states.
Industry Trends and Costs
Car Insurance Rates by State
To assist our readers no matter where they live, we’ve created the interactive map below of car insurance rates by state. Understanding the average rates in your state can help you get a better idea of what’s considered a normal price range for your policy.
| State | Avg. Annual Full Coverage Premium | Avg. Annual Min. Coverage Premium |
|---|---|---|
| Alabama | $1,993 | $490 |
| Alaska | $2,406 | $518 |
| Arizona | $2,557 | $770 |
| Arkansas | $2,194 | $446 |
| California | $2,667 | $651 |
Car Insurance Industry Trends
Full coverage car insurance premiums are at $2,311 in 2024, and rates will likely continue increasing this year. Higher claims costs and a higher number of claims due to poor post-pandemic driving habits cause insurance companies to pay more expensive claims more often, leading to rate hikes.
Expert Insight:
Mark Friedlander, Director of Corporate Communications, Insurance Information Institute:
“Car insurance rates are expected to continue to increase in 2024 due to more costly repairs, driven by parts shortages and higher costs of labor, as well as low inventories of vehicles, which generates higher costs of replacing totaled cars."
Finding the Right Coverage for You
Minimum vs. Full Coverage Car Insurance
Understanding the distinction between minimum and full coverage is crucial when searching for the right levels of financial protection.
Minimum Coverage:
- Refers to a bare-bones policy that carries only the state-mandated insurance limits.
- Covers damage to others up to the policy limit but does not pay for damage to your vehicle if you are at fault.
Full Coverage:
- Includes liability coverage plus comprehensive and collision coverage.
- Provides financial protection for your vehicle whether you are at fault for an accident, a victim of theft or vandalism, or experience weather damage.
Choosing between minimum and full coverage depends on how much you can afford for your policy and how much financial risk you’re willing to assume.
How to Save on Car Insurance
Although you can’t control some of the factors that determine the cost of your car insurance, there are a few things you can do to help secure a competitive rate:
- Shop Around: Car insurance companies use unique rating algorithms to determine your premium, so you’ll get a different rate with each carrier.
- Shop Early: Shopping up to a month ahead of your renewal date allows you time to gather quotes and make a decision.
- Utilize Discounts: Many carriers offer a selection of discounts. Take advantage of these to lower your premium.
Car Insurance Basics
Types of Car Insurance
- Bodily Injury Liability: Covers injuries to the other driver and their passengers in an at-fault accident.
- Property Damage Liability: Covers repairs to the other driver's car or property damaged in an accident you caused.
- Uninsured and Underinsured Motorist Coverage: Covers your injuries and, in some states, your property damage if caused by a driver without sufficient coverage.
- Personal Injury Protection (PIP): Covers medical expenses for you and your passengers after an accident, regardless of fault.
- Medical Payments Coverage: Similar to PIP but only covers medical expenses.
- Comprehensive Coverage: Covers non-collision-related damage such as theft, fire, and weather damage.
- Collision Coverage: Covers damage to your vehicle if you’re involved in a collision.
How Much Car Insurance Do You Need?
The right coverage amount for you balances your budget with how much financial risk you’re willing to assume. Full coverage policies offer broader protection but come with higher premiums. Minimum coverage policies are cheaper but leave you with higher out-of-pocket costs after an accident.
Factors Impacting Car Insurance Cost
- Driving Record: Clean records get the lowest rates; violations increase premiums.
- Age and Driving Experience: Younger drivers generally pay more.
- State and City: Rates vary by location due to factors like traffic and theft rates.
- Vehicle Make and Model: High-end vehicles and those with high repair costs have higher premiums.
- Credit-Based Insurance Score: In most states, better credit leads to lower premiums.
- Insurance Lapse History: Lapses in coverage can result in higher rates.
Conclusion
Finding the best car insurance requires understanding your unique needs and comparing various options. With comprehensive research and expert insights, you can choose a policy that offers the best balance of coverage and cost for your situation.
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