Insuring a vehicle can be expensive, especially if you’re a new driver, have rush tickets, or insure a luxury car. But a smart insurance policy can save you tens of thousands of dollars if you find yourself in a twist of fate or your car. is stolen.
What is the most productive auto insurance company?It depends on factors. Below, CNBC Select breaks down the best auto insurance companies into nine categories (see our method to learn more about how we choose the best auto insurance companies).
The way to estimate your prices is to request a quote.
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Geico’s auto policy is available in all 50 states and the District of Columbia. It offers 16 discounts and a variety of optional add-ons, such as emergency roadside assistance, rental car reimbursement, and mechanical breakdown insurance.
Conditions apply.
Read our Geico insurance review.
Geico is our most sensible choice for availability, with policies issued in all 50 states and Washington, DC. In addition to offering some of the lowest rates for sole liability policies and comprehensive policies, it offers discounts, sums for smart driving, multi-car insurance, and Geico auto and home insurance policy bundling.
Geico Annual Premium for Full Coverage: $1,782
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The way to estimate your prices is to request a quote.
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Erie Insurance offers auto insurance for many other conditions and premiums. Several other coverages allow you to customize your policy.
Conditions apply.
Erie only offers auto insurance in 12 states and Washington D.C., but its low rates and dedication to customer service earned it a slot on our list: The Pennsylvania-based insurer came in first in J.D. Power’s 2024 insurance shopping survey and nabbed the second-highest score for claims satisfaction. And Erie’s Rate Lock® feature means your premiums won’t increase so long as you keep your policy the same — even if you file a claim.
Erie’s average annual premium for full coverage: $1,703
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The way to estimate your prices is to request a quote.
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Nationwide offers near-nationwide availability and personalized services, such as On Your Side® Review, a free annual insurance evaluation to make sure you’re okay and take advantage of all available discounts.
Conditions apply.
Nationwide stands out with its usage-based insurance program, SmartMiles, which can lower your premiums if you don’t drive much. (A great option if you’re painting from home. ) It also scores top on availability, with policies in each and every state of Alaska, Hawaii, Louisiana, and Massachusetts.
National annual premium for full coverage: $1,564
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The way to estimate your prices is to request a quote.
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Auto-Owners offers affordable premiums with the best visitor satisfaction rates. There are 12 other types of discounts, as well as other types of insurance besides car insurance.
Conditions apply.
Car owners are an affordable option if you only need a minimum policy: a liability insurance policy costs an average of just $325 for 12 months, compared to the national average of $637. We have also chosen car owners as one of the most productive insurers for young drivers and seniors. However, the policy is only available in 26 states.
Average annual auto premium for full coverage: $1,631
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The way to estimate your prices is to request a quote.
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State Farm, one of the largest auto insurers in the United States, has a fair reputation for visitor satisfaction and offers more than a dozen discounts, including drivers, packages, and smart students.
Conditions apply.
Read our State Farm auto insurance review.
State Farm is the largest provider in terms of market share of auto insurance and home insurance. This allows you to offer generous discounts on various policies – bundling State Farm auto insurance with home, condo, renters, or life insurance can save you up to 17%, depending on the insurer. Plus, if you insure two or more cars with State Farm, you can save up to 20%.
State Farm is also best-in-class in visitor service, ranking among the most sensible providers in J. D. ‘s 2024 U. S. Insurance Purchasing Study. Power.
State Farm annual premium for full coverage: $2,406
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The way to estimate your prices is to request a quote.
American Family offers affordable auto insurance with more than a dozen discounts to further lower your premium. While not available nationwide, American Family offers quotes online or through an agent, depending on your preference.
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American Family Insurance offers 18 discounts that can lower your car premiums, plus having a clean driving record, paying your premium in full, and volunteering in your community. Safe drivers can save up to 20% by allowing the company to track their driving habits. while bundling auto and home insurance from American Family can save you up to 23%.
American Family average annual premium for full coverage: $1,895
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The way to estimate your prices is to request a quote.
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Progressive offers a number of lines of insurance that allow you to combine convenient equipment so that you keep your policy within your budget.
Conditions apply.
Read our progressive insurance review.
Progressive is one of our top picks for high-risk drivers, thanks to its lower-than-average rates for consumers with rushing tickets, at-fault accidents, and driving convictions. The average rate for a comprehensive policy after a DUI is $2,549 according to Bankrate data, compared to the national average of $4,399. Additionally, unlike some competitors, Progressive also offers SR-22 filing if you want to reinstate your license.
Average progressive annual premium for full coverage: $2,021
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The way to estimate your prices is to request a quote.
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Travelers auto insurance policies are and are subsidized by the sixth-largest auto insurance company through the market percentage according to the NAIC. The company also offers a number of discounts to customers, adding discounts for packages, hybrid or electric car ownership, and smart student discounts. .
Travelers combine affordability and availability, with policies in 42 states and Washington, D. C. , and a comprehensive policy that averages 30% lower than the national average. Rates for drivers with bad credit are also 30% lower than average.
You can take advantage of several unusual discounts, adding for owners, new cars, and electric vehicles. Travelers also earned A. M. ‘s monetary strength score. Better yet, it’s a smart indicator of your ability to pay claims.
Average annual premium for full coverage: $1,565
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The way to estimate your prices is to request a quote.
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USAA auto insurance is available to military members, veterans, and their families in all 50 states and Washington D. C. In addition to low rates, the USAA offers discounts if you are deployed or purchase your vehicle at the base.
Conditions apply.
Read our USAA auto insurance review
USAA only provides policies to military families and veterans, which means it focuses heavily on their needs. There are discounts if you purchase your vehicle on base or if you are deployed and not driving. And availability in all 50 states means you may not have to look for a new provider if you change your local base.
In addition to some of the lowest rates in the market for comprehensive and exclusive liability insurance policies, USAA enjoys J. D Power’s top ratings for insurance buying and claims satisfaction.
USAA average annual premium for full coverage: $1,709
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Geico has been in business since 1936 and has been a major player in the auto insurance sector ever since. With affordable premiums and widespread availability, it’s easy to see why.
NAIC Complaint Rate (1 is average)
0. 9, below average
J. D. Rated power
816 in 1,000
AM. Best rating
Do you have
Learn More: Geico Car Insurance Review
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Erie is rarely found nationwide, but if you live in one of the 12 states where it can be found, it’s a wonderful choice, thanks to a combination of moderate rates and top-notch visitor service.
NAIC Complaint Index (1 is average)
0. 81, below average
J. D. Power Rating
855 in 1,000
AM. Better odds
A+
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State Farm is available in every state except Massachusetts and Rhode Island and offers a wide variety of insurance products, bundling policies to save money.
NAIC Complaint Index (1 is average)
1. 09, above average
J. D. Power Rating
834 in 1,000
AM. Better odds
A++
Learn More: State Farm Auto Insurance Review
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Nationwide is wonderful for customization, with add-ons like roadside assistance, twist of fate excuse, and a disappearing deductible. It also offers many other types of insurance that you can include with your policy to save money.
NAIC Complaint Rate (1 is average)
0. 83, below average
J. D. Rated power
808 out of 1,000
AM. Best grade
ONE
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Car owners offer lower premiums than the top competition and offer 12 policy discounts, adding 3 in particular for students. The Michigan-based company also offers specialized policies for vintage cars and vehicles modified for accessibility purposes.
NAIC Complaint Index (1 is average)
0. 91, below average
J. D. Power Rating
813 out of 1,000
AM. Better odds
Has
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American Family has been helping others stay on the road since 1927. While their car insurance is featured nationwide, the wide variety of discounts makes it a great option where available.
NAIC Complaint Index (1 is average)
0. 35, below average
J. D. Power Rating
828 out of 1,000
AM. Better odds
ONE
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Progressive is one of the largest auto insurance providers in the country, offering policies in all 50 states. It has notable features such as diversion insurance, 3 other types of destination spin waiver, and veterinary expense coverage, which will pay for veterinary expenses if your puppy is injured in a covert twist of fate.
NAIC Complaint Index (1 is average)
0. 06, below average
J. D. Power Rating
811 in 1,000
AM. Better odds
Do you have
More information: Progressive insurance review
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Founded more than a century ago by army officers to insure their vehicles, USAA is a wonderful choice for service members and their families. It is a winner in prices, visitor service and reductions. In fact, drivers under 25 years of age with a blank file can obtain a 10% reduction if they assume their parents’ USAA policy as the only insured.
NAIC Complaint Index (1 is average)
1. 35, above average
J. D. Power Rating
878 in 1,000
AM. Best grade
Do you have
Read More: USAA Auto Insurance Review
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Car insurance covers damage, theft, and physical injuries in the event of a collision or other accident. You pay a monthly (or semi-annual) premium depending on the policy and type of policy you have selected. If you want a policy, file a claim and your insurance company will pay for damages based on a variety of criteria. Filing a claim can result in higher premiums, so do so with caution. Auto insurance companies offer lower premiums to drivers with blank records because they are less likely to register claims.
Car insurance offers five main types of car insurance policy that you can add to your policy. Each offers different degrees of policy in the event of a loss. At a minimum, choose a liability policy, which protects against injuries and physical injuries. Depending on the policy point you are looking for, you may want to add more policies to your policy. Here’s a look at some of those options:
The cost of car insurance varies greatly depending on where you live. Rates are higher in no-fault states like New York and Michigan, for example. Below are the average car insurance rates across the state.
There are several points that influence the value of car insurance, some of which are within your contract and some of which are not.
The way to find the right car insurance is to shop around: get quotes from at least 3 insurers, keeping the same limits, coverages, and deductibles.
Choose a policy that meets the minimum coverage requirements for your state. In fact, to protect yourself financially, consider coverage at least equivalent to your net worth. Look for add-ons and discounts that fit your lifestyle. You may be able to bundle your home, renters, or life insurance with your auto insurance policy and save. Finding the right car insurance isn’t usually a one-time affair either: looking for the most productive policy and rates each year is. way to make sure you’ll get your money’s worth.
Get a quote from 3 or more corporate insurance websites. Some aggregators will get auto insurance quotes from companies when you submit a single form.
Car insurance is paid monthly or semi-annually. If you’ve already paid your premium for the policy era and need to cancel it, you’ll receive a prorated refund.
Auto insurance corporations pay after investigating the claim and reviewing all similar documents. Be sure to check your policy for limitations on your coverage. In the event of an accident, you can file a claim with your insurance company by calling the claims department. Large insurance corporations allow you to temporarily register a claim on their application or online page and upload all required documents.
You could be a high-risk driver if you have a previous at-fault accident, a history of traffic violations, a DUI, or many problems with your license. You may also be a high-risk driver due to other factors, such as being a new driver or having bad credit.
If your vehicle is stolen or totaled, your insurer may not give you what you paid for. You will receive a payment equal to your real money price (ACV), which is the current price with depreciation, minus your deductible. Standard deviation insurance will only pay off the balance of your auto loan. However, Auto Replacement Assistance will pay 120% of the car’s ACV, regardless of whether you pay car bills or not.
The three most sensible insurance companies with the lowest average premiums are USAA, Auto-Owners, and Geico. However, they are not available to all drivers and your individual quote will likely vary depending on where you live, your driving history, and other factors.
At CNBC Select, our project is to provide our readers with high-quality journalism and comprehensive client recommendations so they can make informed decisions with their money. Every car insurance review is based on rigorous reports written through our team of trained and experienced writers. Wisdom of insurance products. While CNBC Select gets engagement from our partner partners on many offers and links, we create all of our content without the involvement of our sales team or outside third parties, and we pride ourselves on our journalistic criteria and ethics. Check out our Method to learn more about how we choose the best auto insurance.
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For the most productive auto insurance companies, CNBC Select analyzed dozens of American insurance companies.
When choosing and rating the best auto insurance companies, we focus on cost, coverage, availability, ease of use, and visitor satisfaction, based on insights from the National Association of Insurance Commissioners and A. M. The highest visitor satisfaction ratings average across 11 regions according to J. D. ‘s auto insurance survey. Power and Bankrate pricing data.
The average annual premium knowledge is for a 40-year-old driver with a smart driving and credit history. The driver insures a 2020 Toyota Camry, traveling five days a week and traveling 12,000 miles per year, with the following full policy limits:
After reviewing those features, we analyze our recommendations in order of accessibility, availability, mileage coverage, visitor satisfaction, packages, discounts, exclusive liability coverage, maximum coverage. Risk points and for the military and veterans. .
Advertised premiums and auto insurance policy structures are subject to fluctuations in accordance with corporate policies.
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