Best Car Insurance Companies Of January 2024
Best Car Insurance Companies Of January 2024 Our analysis finds that Erie, Nationwide, Travelers and USAA
are the best car companies overall, with 5 stars (out of 5) in our ratings.
USAA auto insurance is available only to military members, veterans and their
immediate family members.
The best car insurance companies for you will depend on your driving record, state and other individual factors.
Shopping around to compare
car insurance quotes will reveal the companies that can give you the best price
for your situation. Best Overall: Nationwide Nationwide has the overall lowest
rates in our analysis, with great rates across a variety of driving records and
driver ages.
(USAA is cheaper but membership is limited to car owners with
a military connection.) Nationwide offers affordable car insurance rates for
good drivers as well as those with infractions on their records, such as an
accident or speeding ticket. Its rates for drivers with poor credit are also
relatively reasonable.
Due to its competitive pricing—no matter your driver
profile—Nationwide is a solid insurer to consider if you’re comparison
shopping. Nationwide Average Annual Car Insurance Costs Best for Collision
Repairs: Erie Erie received the highest grade from collision repair
professionals among the companies we analyzed, with an A-. Collision repair
shops get an inside look at which insurers try to cut corners and which ones
have the smoothest claims processes.
Erie Average Annual Car Insurance Costs Great for Drivers With
a Speeding Ticket: Travelers Travelers offers low-cost car insurance for
drivers with a speeding ticket. If you’ve gotten a speeding ticket, expect it
to affect your rates for three to five years (depending on your insurance
company and state). Erie and Nationwide also have low rates for drivers with
speeding tickets, so keep them in mind if you’re looking for better car
insurance quotes.
And USAA has low rates for military members and veterans who
have a speeding ticket on their records. Travelers Average Annual Car Insurance
Costs Best for Military Members: USAA With its consistently good rates and
variety of coverage options, USAA remains the best car insurance option for
military members year after year.
While the level of complaints about USAA auto insurance has
been rising over the past couple of years, its current complaint level is just
below the average for the industry. USAA Average Annual Car Insurance Costs
Best for Drivers With a DUI: Progressive You can’t avoid higher rates after a
DUI, but Progressive offers the most competitive pricing for drivers in this situation,
based on nationwide averages among the companies we analyzed.
Car insurance companies will usually pull your motor vehicle
report when you get a new quote or your policy is coming up for renewal. This
is their chance to adjust rates based on your recent driving record, and a DUI
conviction will be a costly insurance problem. Progressive Average Annual Car
Insurance Costs Best for New Cars: Auto-Owners Auto-Owners offers new car
owners great coverage options.
Gap insurance is helpful if you owe more on a car loan than
your vehicle is worth. If your car is totaled, gap insurance pays the
difference between what car insurance pays out (the actual value of the
vehicle) and what you still owe, minus your deductible. Auto-Owners also offers
“purchase price guarantee” and “total loss to a new automobile” coverage.
If you’re the original owner of your vehicle, purchase price
guarantee coverage pays you the original purchase price if your car is totaled
within the first two years. Total loss to a new automobile coverage gets your
car replaced with a new one of equal value or pays out your original purchase
price if the total loss takes place within 90 days of the purchase date.
Auto-Owners Average Annual Car Insurance Costs Great for
Drivers With Poor Credit: Geico Geico offers cheaper rates to drivers with poor
credit than most competitors we analyzed. Getting quotes is especially
worthwhile if you have poor credit because many auto insurance companies charge
much higher rates based solely on poor credit.
Geico’s auto insurance prices are competitive for other driver
types as well, such as good drivers, those with a ticket or accident on their
records, parents adding a teen to their policies and senior drivers. Geico
Average Annual Car Insurance Costs Best for Family Discounts
Westfield Westfield not only has competitive auto insurance
rates but it also has a good variety of discounts so family members can save on
car insurance: Westfield’s family discount can be applied to a policy for a
driver who is 18 or younger if you’ve been a customer of Westfield for at least
three years and have multiple policies with Westfield, such as auto and home
insurance.
Westfield’s next generation discount is for children (ages of
22 and 29) of Westfield policyholders who are buying their first car insurance
policy with Westfield. Westfield also has a discount for those who may not be a
blood relative but are treated as such with its companion car insurance
discount. It’s available to someone who resides in the household of a Westfield
policyholder and buys their own auto policy with Westfield. Westfield Average
Annual Car Insurance Costs