Which brand of car has the cheapest insurance?
Based on our research, State Farm has the best cheap full-coverage car insurance. While Geico offers the lowest rates, State Farm has the best customer ratings and coverage overall.
- Cheapest best seller to insure: Subaru Outback ($1,943 per year).
- Cheapest best-selling sedan to insure: Toyota Corolla ($2,123 per year).
- Cheapest best-selling truck to insure: Ford F-150 ($2,142 per year).
- The cheapest car insurance rate is $38 a month from Geico according to our research team's cost analysis of national average prices for minimum coverage.
- The top 10 cheapest car insurance companies are Nationwide, Geico, State Farm, Travelers, Progressive, AAA, Allstate, Chubb, Farmers and USAA.
Based on our research, State Farm has the best cheap full-coverage car insurance. While Geico offers the lowest rates, State Farm has the best customer ratings and coverage overall.
Which type of car insurance is cheapest? Typically, fully comprehensive insurance is the least expensive, though prices are influenced by individual circ*mstances.
In general, auto insurance for older cars may be cheaper than insuring newer vehicles of the same make and model if the used car is cheaper to repair or replace.
Based on Insure.com's analysis, the Honda HR-V is the cheapest car to insure in 2024, at an average cost of $139 a month. The most expensive car to insure in 2024 is the Maserati Quattroporte, with an average insurance premium of $6,166 per year, according to Insure.com's data study.
| Car Insurance Provider | National Market Share | Overall Rating Out of 10.0* |
|---|---|---|
| 1. State Farm | 16.84% | 9.4 |
| 2. Geico | 14.05% | 9.1 |
| 3. Progressive | 13.76% | 9 |
| 4. Allstate | 10.69% | 8.8 |
Geico's rates are typically lower overall, but Progressive tends to offer better prices to high-risk drivers. High-risk drivers are those with a recent DUI, at-fault accident or speeding ticket on their driving record. Of course, costs vary by driver, and your rates are determined by a number of factors, including: Age.
So, your birthday can be a good time of the year to buy car insurance as young drivers can see lower rates as they get older. A month or so before your auto policy renew: Thirty or 60 days before your car insurance renewal date is a good time of the year to review your current coverages.
Is nationwide cheaper than Progressive?
Between Nationwide and Progressive, Nationwide is the cheapest carrier for full coverage insurance at $1,548 per year. At $532 per year, Nationwide is the cheapest carrier for state minimum coverage.
Geico is so expensive because car insurance is expensive in general, due to rising costs for insurers. But at $462 per year, the average Geico car insurance policy is actually cheaper than coverage from most competitors. In fact, Geico is one of the cheapest car insurance companies nationally.
Liberty Mutual can be cheap because of its savings opportunities and overall market share. The company's safe driving program RightTrack can help policyholders save up to 30% on their premiums. Liberty Mutual also has many other discounts for military members, homeowners and good students.
- Grey market cars, meaning vehicles that are legally imported but not sold in the U.S.
- Modified or altered vehicles.
- Custom cars.
- Exotic, high-value or high-performance cars.
- Antique, classic or rare vehicles.
- Exhibition cars.
- Vehicles that are too heavy.
- Third-Party Liability Only Cover.
- Own Damage (OD) Cover.
- Personal Accident Cover.
- Uninsured Motorist Protection.
- Comprehensive Car Insurance.
- Add-on Coverages.
- Car Insurance Premium.
'Comprehensive' insurance cover provides the widest cover and covers for theft and hijacking, damages due to an accident, fire or explosion and natural disasters like hail and floods.
Between 10 and 15 years after a vehicle's model year, full coverage is a poor investment. While the cost of full coverage by itself likely won't be more than what a car is worth, the cost of insurance is more likely to be higher than the value of the car after an accident.
Once you've paid your vehicle off, you're no longer subject to any insurance requirements other than your state's minimums. If you want to drop some types of coverage to save money, that's up to you. Either way, have your insurer remove the lender as a lienholder on your policy.
| Classic Car Insurance Company | Annual Mileage Limit |
|---|---|
| #3 American Collectors Insurance (USAA) | From 1,000 to unlimited |
| #4 American Modern Insurance (Geico) | From 1,000 to unlimited |
| #5 Heaco*ck Classic Insurance | 6,000 miles |
| #6 Safeco (Liberty Mutual) | 10,000 miles |
Does car color affect insurance rates? The color of your car doesn't affect your insurance rate. Instead, your insurance company uses other information, like your car's age, location, usage, and your driving record, to help determine insurance rates. Learn more about the factors that impact auto insurance pricing.
Why is a Toyota Corolla so expensive to insure?
Why is a Toyota Corolla so expensive to insure? Toyota Corollas are among the most stolen cars in the country because they're so popular, which might explain why it's slightly more expensive to insure a Corolla than the average Toyota. It costs $223 per month to cover a new Corolla, 5% more than average.
Leif Olson, Car Insurance Writer
Yes, $500 a month for car insurance is very expensive. The average cost of car insurance ranges from about $60 per month for state-minimum coverage to $166 per month for full coverage, though individual car insurance rates vary based on factors such as driving record, age and location.
| Company | Forbes Advisor Rating | Our expert take |
|---|---|---|
| Nationwide | 5.0 | Best overall |
| USAA | 4.8 | Best for military members and veterans |
| Travelers | 4.7 | Great for drivers with speeding tickets |
| Erie | 4.6 | Best for drivers who caused an accident |
Considering State Farm and Geico are the two biggest auto insurance companies in the U.S., most drivers can find what they need from either company, whether that's minimum or full coverage. However, there are a few key differences between State Farm vs. Geico when it comes to auto insurance options.
