Finding cheap auto insurance is increasingly hard as rates continue to climb. Our analysis of top companies reveals which insurers may offer budget-friendly rates for your driving profile.

Here is the cheapest car insurance of March 2024, according to our analysis:

In some instances USAA was the cheapest but the next cheapest company is listed because USAA auto insurance is only available to veterans, military members and their families.

 

Cheapest Car Insurance Rates

How much you pay for car insurance will depend on a number of factors, including your age, claims history and driving record. The company that offers the cheapest car insurance for you can vary depending on the class of driver you fall into.

The Cheapest Car Insurance for Good Drivers: Nationwide

Nationwide is the cheapest company for good drivers that is available to the general public. USAA auto insurance is a bit cheaper but only available to those with a military connection.

We found the average rate for good drivers is $2,026 a year among the companies we evaluated.

Company Average Cost Per Year For Good Drivers Average Cost Per Month For Good Drivers Total Savings Per Year Compared To Average
$1,364
$114
$662 cheaper
$1,436
$120
$590 cheaper
$1,521
$127
$505 cheaper
$1,597
$133
$429 cheaper
$1,642
$137
$384 cheaper
Average
$2,026
$169

 

*Average rates are based on good drivers with a clean driving record, meaning no at-fault accidents or traffic violations.
*USAA is available only to the military, veterans and their families.

 

The Cheapest Car Insurance After a Speeding Ticket: Nationwide

Our analysis found the cheapest car insurance after a speeding ticket is from Nationwide, followed by Erie, Travelers and Geico. USAA is a top choice for people who qualify for USAA auto insurance.

Our analysis found that having a speeding ticket on your driving record means an average insurance increase of 26%.

Company Average Cost Per Year For Good Drivers Average Cost Per Month For Good Drivers Total Savings Per Year Compared To Average
$1,661
$138
$872 cheaper
$1,878
$157
$655 cheaper
$1,899
$158
$634 cheaper
$2,062
$172
$471 cheaper
$2,150
$179
$383 cheaper
Average
$2,533
$211

 

*USAA is available only to the military, veterans and their families.

 

The Cheapest Car Insurance After an Accident Causing Injury: Erie

Erie and Travelers have the cheapest rates if you have caused an accident that injured someone else. Erie is a regional insurer that serves 12 states in the East and Midwest. USAA offers excellent rates to military members and veterans.

Nationally, the average increase after an accident is 49% compared to a driver with a clean record.

Company Average Cost Per Year After An Accident With Injuries Average Cost Per Month After An Accident With Injuries Total Savings Per Year Compared To Average
$1,958
$163
$1,051 cheaper
$2,224
$185
$785 cheaper
$2,293
$191
$716 cheaper
$2,337
$195
$672 cheaper
$2,428
$202
$581 cheaper
Average
$3,009
$251

 

*USAA auto insurance is available only to the military, veterans and their families.

 

The Cheapest Car Insurance After a DUI: Progressive

Progressive has the cheapest rates in our analysis for drivers with a DUI, with USAA a good option for military members and veterans who qualify. A DUI conviction leads to an average increase of 71%.

Car insurance companies usually pull motor vehicle records before your policy renewal time to check for tickets and convictions such as DUIs.

Company Average Cost Per Year For A Driver With One DUI Average Cost Per Month For A Driver With One DUI Total Savings Per Year Compared To Average
$2,307
$192
$1,056 cheaper
$2,604
$217
$759 cheaper
$2,610
$218
$753 cheaper
$2,665
$222
$698 cheaper
$2,716
$226
$647 cheaper
Average
$3,363
$280

 

*USAA is available only to the military, veterans and their families.

 

The Cheapest Car Insurance for People With Bad Credit: Nationwide

Nationwide and Geico have relatively cheap car insurance for drivers with bad credit, among the companies we analyzed. USAA is a good bet for military members and veterans.

Poor credit can cause higher auto insurance rates than having a DUI or at-fault accident on your record.  Average auto insurance costs go up 94% for drivers with poor credit compared to those with good credit.

Company Average Cost Per Year For Drivers With Poor Credit Average Cost Per Month For Drivers With Poor Credit Total Savings Per Year Compared To Average
$2,051
$171
$1,796 cheaper
$2,450
$204
$1,397 cheaper
$2,482
$207
$1,365 cheaper
$2,699
$225
$1,148 cheaper
$3,221
$268
$626 cheaper
Average
$3,847
$321

 

*USAA auto insurance is available only to the military, veterans and their families.

 

The Cheapest Car Insurance for Seniors: Nationwide

Nationwide has the best rates for senior drivers ages 65 and 80, according to our analysis. The best car insurance for seniors will vary based on where you live and your personal details, such as your driving record.

We found that senior drivers see an average increase of 6% from age 60 to 70. By age 80, your rates may have increased 23% above the rate you were paying at age 70 and 31% more than your car insurance cost at age 60.

Company Average Cost Per Year For Senior Drivers Average Cost Per Month For Senior Drivers Total Savings Per Year Compared To Average
$1,402
$117
$748 cheaper
$1,455
$121
$695 cheaper
$1,668
$139
$482 cheaper
$1,793
$149
$357 cheaper
$1,813
$151
$337 cheaper
Average
$2,150
$179

 

*USAA is only available to military members, veterans and their families.

 

The Cheapest Car Insurance for Young Drivers: Erie

Erie, Travelers, Geico and Nationwide are the cheapest car insurance companies for young drivers buying their own policies. USAA is also usually a top choice if you qualify.

It’s typically cheaper for a young new driver to remain on a parent’s policy if they’re still living at home, whether they’re an 18-year-old or 25-year-old.

Company Average Cost Per Year For Young Drivers Average Cost Per Month For Young Drivers Total Savings Per Year Compared To Average
$2,368
$197
$1,336 cheaper
$2,575
$215
$1,129 cheaper
$2,638
$220
$1,066 cheaper
$2,781
$232
$923 cheaper
$2,881
$240
$823 cheaper
Average
$3,704
$309

 

*USAA is only available to military members, veterans and their families.

 

The Cheapest Car Insurance for Teens: Nationwide

Nationwide has the lowest rates for teen drivers in our analysis. Other cheap companies include Erie, Progressive and Geico. USAA also has low rates for adding a teen if you qualify.

It can be hard to find cheap car insurance for teens because young new drivers pose a large risk to insurers. We found that adding a teenage driver to a parent’s policy results in an average increase of $4,362 a year.

This amount typically doubles the parent’s auto insurance bill. But it is still usually less expensive to add a young driver to a parent policy rather than for the teen driver to get their own.

Company Average Cost Per Year To Add A Teen Driver To A Parent’s Policy Average Cost Per Month To Add A Teen Driver To A Parent’s Policy Total Savings Per Year Compared To Average
$2,819
$235
$1,543 cheaper
$3,025
$252
$1,337 cheaper
$3,215
$268
$1,147 cheaper
$3,864
$322
$498 cheaper
$3,866
$322
$496 cheaper
Average
$4,362
$363

 

*USAA is only available to military members, veterans and their families.

 

States With the Cheapest Car Insurance

Vermont is the cheapest state for auto insurance for good drivers. Idaho, Maine, Hawaii and New Hampshire round out the top five.

150

State Average Annual Cost For Full Coverage
$1,975
$1,913
$2,110
$2,295
$2,768
$2,591
$2,252
$2,405
$3,865

 

Rates are based on a 40-year-old female driver with a good driving record. Averages are based on coverage with $100,000 for injuries to one person, $300,000 for injuries per accident and $100,000 for property damage (known as 100/300/100), uninsured motorist coverage, and collision and comprehensive insurance with a $500 deductible. 

 

 

Source: Quadrant Information Services.

 

Cheapest Car Insurance by Age

Erie has lowest-cost insurance for drivers age 16, 18 and 20, based on our analysis of auto insurance rates by age. Nationwide is the cheapest option for drivers at many other ages.

Age Cheapest Company Average Annual Cost
16
$3,958
18
Erie
$3,284
20
Erie
$2,653
25
$1,672
35
Nationwide
$1,498
45
Nationwide
$1,401
55
Nationwide
$1,285
65
Nationwide
$1,273
75
Nationwide
$1,412
80
Nationwide
$1,588

 

here is link for you