Car insurance rates vary depending on a variety of factors. For instance, car insurance rates often depend on the age of the driver, whether the driver is considered high-risk or not, and the state in which the driver lives. However, certain car insurance companies are generally more expensive than others, regardless of these factors. For this reason, the expert team at OnlineDriversLicenses.org has put together a comprehensive list of the most expensive and inexpensive car insurance companies available.
Cheap Insurance: Geico
According to national averages, Geico car insurance is the cheapest car insurance company available among major insurance companies. On average, Geico offers car insurance premiums as low as $1,297 per year or $108 monthly. The team at OnlineDriversLicenses.org recommends considering Geico car insurance if additional discounts are of importance. Geico offers safe driving discounts, discounts for insuring multiple automobiles or wearing a seat belt and operating a vehicle with airbags. Plus, the services Geico offers include bodily injury liability, medical payments, uninsured motorist coverage, physical damage coverage, collision coverage and more.
Cheap Insurance: State Farm
According to the group at OnlineDriversLicenses.org, average State Farm car insurance premiums are $2,296 per year or $191 monthly. Though State Farm is higher than Geico by approximately $1,000, State Farm is the second-cheapest major car insurance company available. Additionally, safe driver discounts, clean driving record discounts and other opportunities to save are also available.
Cheap Insurance: Erie Insurance
While major companies like Geico and State Farm do offer affordable car insurance rates, the team at OnlineDriversLicenses.org recommends considering smaller auto insurance companies as well. Though Erie Insurance is only available in nine states, average premiums are as low as $1,052 annually for a 30-year-old driver, or $87 monthly. Plus, coverage includes pet coverage, first-accident forgiveness, road service assistance and more.
Cheap Insurance: American Family Insurance and Auto Owners
Although lesser-known than other auto insurance companies, American Family Insurance offers affordable car insurance rates. On average, annual premiums are $1,099 for a 30-year-old driver, or $91 monthly. Other smaller companies like Auto Owners charge an average of $1,201 annually for a 30-year-old driver, or $100 monthly.
Expensive Insurance: Progressive
Depending on the age and the driving history of the driver, average Progressive car insurance rates are more than double the price of Geico rates. At $2,821 annually or $235 monthly, Progressive is more expensive than other major car insurance companies. However, discounts like home and auto insurance bundling, multiple car discounts or additional discounts for signing up online are all available. The team at OnlineDriversLicenses.org recommends getting a quote from Progressive if an agent-free car insurance policy is desired. Plus, Progressive offers reasonable car insurance premiums after drivers get into accidents.
Expensive Insurance: Allstate
Younger drivers or drivers with poor driving records can expect to pay an average of $3,182 annually or $265 monthly with Allstate, making it the most expensive car insurance company compared to major auto insurance companies like Geico, State Farm and Progressive. However, Allstate offers services such as towing and labor, sound system replacement, collision expenses, liability, medical payments, personal injury protection and more. In addition, Allstate has an A-plus financial strength rating, an excellent customer complaint ratio and offers safe driving discounts in three- and five-year intervals. Furthermore, experienced drivers or drivers who are around the age of 30 pay less at an average of $1,718 annually or $143 monthly.
Expensive Insurance: Metlife and Safe Auto
For an average 30-year-old driver, Metlife auto insurance charges premiums as high as $1,957 annually, or $163 monthly. Similarly, Safe Auto charges the average 30-year-old driver an annual premium of $1,855 or $154 monthly.
Expensive Insurance: Victoria and Encompass
The average 30-year-old driver can expect to pay auto insurance premiums of $2,057 annually or $171 monthly when purchasing insurance from Victoria Insurance. Other car insurance companies like Encompass charge an average of $2,129 annually or $177 monthly.
Cheap Auto Insurance Vs. Expensive Insurance
For drivers who are looking to receive the cheapest auto insurance rates, Geico or Erie Insurance are the best auto insurance companies to choose from. Depending on the age, the driving record of the driver and the specific auto insurance policy chosen, Allstate, Progressive, Victoria or Encompass Insurance are among the most expensive car insurance companies with pricier car insurance premiums.