Cheapest full (and best) coverage auto insurance 2024

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Car insurance is an essential expense for any car owner, and finding the right car insurance policy that suits your needs and budget can be a daunting task. The cost of car insurance can vary significantly depending on your location, as factors like different insurance laws, unique geographic features, and the incidence of claims in the area can impact the rates.

However, if you research and compare quotes from different insurance providers, you can find affordable rates no matter where you live.

What is full coverage auto insurance?

Full coverage auto insurance is a type of policy that offers a wider range of protection than the state minimum requirements for car insurance. While minimum coverage car insurance only covers property damage and bodily injury liability you cause while driving, full coverage auto insurance includes additional coverage options such as collision, comprehensive, and uninsured/underinsured motorist coverage.

Collision coverage pays for damages to your own car in the event of a collision, while comprehensive coverage pays for damages caused by non-collision events such as theft, fire, and vandalism. On the other hand, uninsured/underinsured motorist coverage provides coverage if you are hit by a driver who does not have enough insurance to pay for the damages they cause. In contrast to minimum coverage car insurance, full coverage auto insurance offers more extensive protection for you and your vehicle in the event of an accident.

Cheapest full coverage car insurance company by state

To find the cheapest full-coverage car insurance by state, it is essential to get quotes from several carriers and compare their rates. You can use online comparison tools to get quotes from multiple insurance providers, or you can contact insurance agents to get personalized quotes. By comparing the quotes, you can find the cheapest full coverage insurance policy that suits your needs and budget.

The table below displays the provider offering the least expensive full coverage premiums in every state. It is important to note that not all individuals may be eligible for coverage from every provider. For example, USAA solely caters to military personnel, veterans, and their immediate family members.

1. Amica

According to the 2023 U.S. Insurance Digital Experience Study, Amica was recognized for its exceptional customer service. It received the highest score in this category. One of the most distinguishing features of Amica is its dividend policy option, which allows you to receive up to 20% of your annual premium back each year. Additionally, Amica offers several optional coverage choices and discounts that can be customized to suit your needs.

However, it’s worth noting that Amica may not be the most affordable option for drivers with accidents or tickets on their driving record. While it provides top-notch service and unique benefits, the cost of coverage may be higher than that of other insurance providers. Nonetheless, if you value exceptional customer service and unique policy options, Amica could be an excellent choice for you.

2. Geico

Geico is a well-known car insurance company that offers its customers a wide range of discounts. In fact, it boasts one of the industry’s longest lists of car insurance discounts. You can save money on your premium by having certain safety features, such as anti-lock brakes, airbags, and anti-theft devices. Additionally, you may be eligible for a discount if you are a federal employee or a military member. Other savings opportunities include wearing your seatbelt and being affiliated with certain groups, like alumni associations.

In addition to its discounts, Geico has a highly rated mobile app and online policy portal that makes it easy to manage your policy, file a claim, and contact customer service. The app lets you view your ID cards, pay your bills, and track your claims from your phone. You can also use the online portal to change your policy and request additional coverage.

However, Geico may not be the best option if you are searching for a company that offers highly tailored coverage. The number of endorsements that can be added to your policy is limited, so if you require an extensive range of additional coverage options, you may need to consider other providers.

3. USAA

USAA is renowned for providing some of the most competitive average annual rates in the insurance market, coupled with outstanding customer care. Despite not being eligible for an official J.D Power ranking due to its specific membership criteria, USAA has proven its excellence by achieving high scores in the J.D Power 2023 U.S. Auto Claims Satisfaction Study.

This is a solid testament to customer satisfaction with USAA’s claim services. Nevertheless, it’s important to note that USAA operates with a distinct focus. It exclusively offers insurance coverage to our courageous military personnel, veterans, and their immediate family members.

USAA’s commitment to serving the military community goes beyond providing insurance coverage. They offer various financial services tailored to the unique needs of military members and their families, including banking, investment options, and retirement planning. This comprehensive approach allows USAA to cater to all aspects of their members’ financial well-being.

4. Auto-Owners insurance

Providing a range of comprehensive coverage options, Auto-Owners Insurance delivers unique benefits to its customers. If you can settle your premium in one payment, they offer a substantial discount which may significantly reduce your rate. The varied coverage options they offer include the provision for diminished value coverage, compensation for car rentals, gap coverage as well as roadside assistance.

An additional package on offer is the Personal Automobile Plus package. This inclusive package guarantees coverage for identity theft and lock rekeying, enhancing your protection as a car owner.

However, it’s important to note that Auto-Owners Insurance is a regional provider serving only 26 states. Hence, depending on your geographical location, it may not be accessible to everyone.

5. State Farm

If you’re searching for an insurance provider with a local touch, then State Farm could be your ideal choice. It boasts the largest market share across the United States, with a network of over 19,000 dedicated agents. This extensive presence means you’ll likely find an agent nearby.

State Farm provides various standard car insurance coverage types, flexible enhancements, and potential customer discounts. However, it’s important to note that State Farm does not offer gap insurance or the opportunity to purchase accident forgiveness. Therefore, if these specific options are crucial for you, you might need to look for other insurance providers.

6. Travelers Insurance

For those in the market for an insurance policy that can be tailored to their specific needs, Travelers Insurance should be on your consideration list. Known for its comprehensive range of coverage possibilities, the company stands out because of the flexibility it provides to policyholders.

Key elements of Travelers’ coverage packages include roadside assistance, a service that gives you peace of mind during your journeys and provides help during breakdowns or flat tires. Gap coverage is another feature, ensuring that if your vehicle is totaled, there won’t be any financial gap between what you owe on your vehicle and its current market value.

Travelers also offer new car replacement coverage – a benefit designed to replace your brand-new vehicle in case it gets totaled in an accident. There’s ridesharing coverage, too, geared towards protecting individuals who use their personal vehicles for rideshare services like Uber or Lyft. Moreover, they offer an accident forgiveness program, meaning your premium won’t increase after your first accident.

In addition, Travelers Insurance has some alluring discount possibilities. They offer special savings for eco-friendly customers who drive hybrid or electric cars, demonstrating their commitment to sustainability and environmental welfare.

However, it is significant to note that in the 2023 J.D. Power U.S Auto Insurance Study, Travelers received mostly below-average scores. While this could suggest a potential issue with overall customer satisfaction, every individual’s experience varies, and the lower scores may not accurately reflect your potential interaction with the company.

7. Erie Insurance

Erie Insurance performance has consistently surpassed the industry norms, as demonstrated in the 2023 J.D. Power U.S. Auto Insurance Study. Erie’s commendable performance allowed it to secure an admirable position in the study across the areas it services, including a prestigious number one spot in the North Central and Mid-Atlantic regions.

One standout feature of Erie Insurance is its unique Rate Lock mechanism. This innovative feature offers clients a more predictable and stable premium rate. With the Rate Lock feature, policyholders can rest assured that their premium will not be subject to increase, unless there are modifications to the policy, such as adding a new vehicle or driver.

However, you should note that Erie operates as a regional carrier, and its services are limited to 12 states. Therefore, as sterling as its offerings are, they are inaccessible in several parts of the United States. Despite the geographical limitations, the exceptional offerings that characterize Erie Insurance’s services make it a top choice for consumers within its operational regions.

How to find cheap full coverage insurance

While it’s true that full coverage auto insurance will likely cost more than a minimal coverage, or liability-only policy, there are practical steps you can take to find the most cost-effective option.

Research multiple quotes: The first route to cost-effective auto insurance is thoroughly shopping around. Free quotes are readily available from various insurers, providing the basis for a detailed cost comparison. To ensure accuracy, it’s crucial to request the same coverage types and limits from each provider. This way, you can effectively compare the rates and secure the best deal for your desired coverage.

Maximize on discounts: Nearly all insurance providers offer discounts which can greatly reduce your premium. The key is to identify and take advantage of the ones you’re eligible for. In some instances, you may be able to combine multiple discounts from your insurer, allowing you to save even more on your rates.

Drive safely: Maintaining a clean driving record can shield you from premium surcharges often associated with traffic violations and accidents. Safe driving doesn’t just keep your premiums low, it could also make you eligible for valuable good driver discounts.

Opt for higher deductibles: A higher deductible for your comprehensive and collision coverage can result in a lower premium. Your collision coverage deductible typically has the most significant impact on your premium. However, it’s important to set your deductible at a level that will be manageable in the event of a claim.

Evaluate the make and model of your vehicle: If you’re considering buying a new car, it’s advisable to get several car insurance quotes before your purchase. Different car models attract different insurance rates. For example, if you’re undecided between an SUV and a sporty coupe, the potential premium on each one could guide you on which suits your budget best.

While price is a key consideration in choosing car insurance, it should not be the sole decision factor. Other vital aspects like customer service ratings, the company’s financial strength, the variety of coverage options, available discounts, and specific policy features should equally influence your decision.

What is the average cost of car insurance?

A comprehensive car insurance policy in the United States is approximately $2,014 annually. However, this figure is a broad average. It’s essential to realize that the actual premium you are required to pay may differ significantly based on various individual factors unique to each policyholder.

Numerous aspects determine the cost of your car insurance premium. These factors, also known as car insurance rating determinants, are what insurance carriers use to assess the risk of insuring your vehicle. The principal considerations include but are not limited to, the model of your car, the total number of miles you drive annually, and your personal driving record.

Let’s break down these factors a bit more:

1. The type of vehicle you drive: Luxury, sports, and high-performance cars usually attract higher insurance rates due to their higher repair or replacement costs. In contrast, safer, family-style vehicles may be cheaper to insure.
2. Your annual mileage: The more miles you drive in a year, the greater your likelihood of getting into an accident and making an insurance claim. Therefore, higher annual mileage usually translates into higher premiums.
3. Your driving history: If you have a history of being a careful driver with few or no accidents, insurance companies will see you as a lower risk and could offer you lower premiums.

Given this variability, it’s nearly impossible to provide a specific estimate for your auto insurance premium without having detailed information about your specific circumstances. Consequently, to receive a more accurate estimate, it’s always advisable to request a quote directly from an insurance provider. This will allow you to get a better understanding of what you might expect to pay for a policy tailored to your personal situation.

Which company is the cheapest option for full coverage?

State Farm takes the crown for the cheapest full coverage option, costing around $125 a month. That’s a solid deal for peace of mind on the road.

Erie and USAA are also worth considering for competitive full coverage rates. However, there’s a catch with USAA—its membership is restricted to military members, veterans, and their families. So, while it might have amazing deals, it’s not an option for everyone.

Here’s the golden rule – don’t just settle for the first quote you get! Take some time to compare rates from multiple insurers. This is where a little effort can go a long way in saving you serious cash.

Many insurance companies offer discounts for things like safe driving habits, having multiple cars insured with them, or taking defensive driving courses. Be sure to ask about all the discounts you might qualify for – they can add up quickly!

What are the best car insurance companies?

The ‘best’ car insurance company is unique to each individual driver. To determine your ideal provider, a variety of factors should be considered.

The most crucial element to consider is what you value the most in car insurance. Is it the customer service, the speed of claim processing, the add-on features, or perhaps the reputation of stability? The answer will help narrow down your options.

Once you’ve determined what’s important to you, the next step is to assess how much coverage you require to safeguard your assets and financial stability. Consider your vehicle’s value, driving habits, where you live, and what you can afford should an unexpected event occur.

Lastly, it’s pivotal to contemplate what best suits your budget. Although it may be tempting to opt for the cheapest option, it’s essential to ensure that it offers the required coverage.

To help you make an informed decision, I would highly advise requesting quotes from various providers. By doing so, you’ll gain insight into which policies offer the best balance of coverage and affordability, tailored to your specific circumstances. This comparison will significantly assist you in navigating and understanding which car insurance companies are the most optimal match for your requirements.

Do I need full coverage on a financed car?

While lenders require full coverage for financed cars, it’s ultimately your call once the loan is paid off. Weigh the value of your car and your risk tolerance before making a decision.

Here’s the golden rule: if you can’t afford to replace your car entirely out of pocket, full coverage is probably a wise investment.

Is full coverage better than liability-only?

When comparing full coverage and liability-only insurance, is one superior to the other? The answer isn’t as clear-cut as you might think. Full coverage insurance offers a broader protection umbrella by covering any damages sustained by your vehicle. However, it’s important to note that insurance requirements can vastly differ depending on a driver’s unique circumstances.

Liability-only coverage, for example, maybe the perfect fit for some. It considers the potential damages to other people’s vehicles for which you would be held accountable. This type of coverage can be sufficient for drivers with older cars or those who drive less frequently.

On the other hand, those with newer vehicles or who frequently travel may need the added safeguard presented by a full coverage policy. This policy covers damages to your car due to collisions, weather conditions, or even encounters with wildlife.

Ultimately, the decision between full coverage or liability-only insurance largely depends on your situation and risk considerations. If you are uncertain which coverage level would best suit your needs, consulting with an insurance agent can be incredibly beneficial. They can offer personalized advice tailored to your specific circumstances, ensuring you’re adequately protected without paying for unnecessary coverage.

What happens if I don’t buy insurance?

In most parts of the United States, it is legally mandated to possess at least the bare minimum levels of specific car insurance types to drive on the roads. Though comprehensive or full coverage isn’t rendered obligatory by any state law, you might still have to maintain it if your car is on lease or financed. If you are grappling with a tight budget, the thought of skipping all auto insurance coverage may cross your mind, however, it’s a move that insurance professionals strongly discourage.

If law enforcement should discover you are driving uninsured, you are potentially exposing yourself to hefty fines and even the suspension of your driver’s license. Moreover, if you were to instigate an accident without insurance coverage, you would be obliged to pay for all resultant damages from your own pocket.

Furthermore, if you disregard coverage and your automobile is either leased or financed, the entity that has financially backed your vehicle holds the right to obtain coverage on their own accord and tack the expense onto your loan installments. This type of insurance practice is referred to as force-placed insurance. Notably, the cost of force-placed insurance policies is typically higher than what you would have incurred had you opted to purchase insurance on your own.

What else does a full coverage policy cover?

A full coverage policy is not only about protection from accidents, theft, or damage to your car. It also takes into consideration the unique insurance requirements of your state, offering you a more comprehensive safety net. These may include coverages such as uninsured motorist coverage and personal injury protection.

Uninsured motorist coverage is one of the critical components of a full coverage policy. It provides financial support for any injuries you might sustain or damage inflicted on your car by an uninsured driver. Depending on your state, this coverage might be mandatory.

On the other hand, underinsured motorist coverage ensures that your expenses are covered if you’re hit by a driver who lacks sufficient insurance coverage to cover all your costs.

Additionally, Personal Injury Protection (PIP) is a part of a full coverage policy that caters to your medical expenses if you’re injured in a car accident. This benefit remains valid, irrespective of who was at fault in the accident. Moreover, PIP coverage can compensate you for any lost wages if your recovery period forces you to take a break from work. Some states, often called “no fault” states, may make this coverage mandatory for all drivers.

In essence, a full coverage policy goes beyond traditional car insurance, providing you with an added layer of protection and peace of mind amid the uncertainties of the road.”

Does full coverage car insurance replace your car?

Full coverage insurance typically includes collision coverage. This acts like your car’s personal superhero, swooping in to cover repairs or even a replacement if you’re at fault in an accident. But there’s a catch – you’ll still be responsible for your deductible, which is a fixed amount you pay before insurance kicks in.

Now, what if you’re the innocent victim of someone else’s driving disaster? In that case, their insurance (liability coverage) should cover the repairs or replacement of your car. This is why having good insurance is crucial – you don’t want to be left holding the repair bill for someone else’s mistake.

So, about that brand-new replacement…full coverage usually reimburses you for the actual cash value of your car at the time of the accident, not its shiny new car price tag. This means you might end up with a check that falls short of what it takes to replace your totaled car with a brand new one.

The new car replacement hack

If you crave a brand new ride, there’s an insurance add-on called new car replacement coverage. This magical extra ensures you get a brand new car of the same make and model if yours gets totaled (within a certain timeframe, usually one or two years from purchase). But remember, this comes with an additional cost, so factor that into your insurance budget.

Is full coverage insurance worth it?

When deliberating whether full coverage insurance is a wise investment, several factors should be considered, primarily the value and age of your vehicle. Full coverage insurance is typically a worthwhile investment if your car’s value surpasses $5,000, or if its age is less than eight years.

Full coverage insurance serves a dual purpose; not only can it assist you in averting exorbitant repair costs, but it is also an obligatory requirement if your vehicle is under a loan or lease. These types of insurance cater to the car’s repair or replacement costs if it gets damaged due to an accident, vandalism, or any unforeseen incident.

Nonetheless, if you have accumulated enough savings to cover the cost of a new car, you might contemplate dropping your comprehensive and collision insurance. By doing so, your car insurance premiums will noticeably decrease. However, it’s essential to keep in mind that in an unfortunate event of an accident that results in your car being totalled, the financial burden of purchasing a new vehicle will fall entirely on your shoulders.

Retaining or dropping full coverage insurance hinges on your financial situation and risk tolerance. Reflect on your capacity to bear out-of-pocket costs for a new vehicle and then make an informed decision.

The bottom line

Full coverage insurance is an insurance policy that covers both liability and physical damage to your vehicle in the event of an accident. While not required by law, full coverage insurance provides comprehensive protection to car owners and can be a smart investment for those who want to safeguard their vehicles.

However, full coverage insurance can be expensive, and the rates can vary widely depending on the insurance company you choose.

In conclusion, finding the cheapest full-coverage car insurance by state requires some research and comparison. However, by shopping around and comparing quotes from different insurance providers, you can save money on your car insurance premiums and get the coverage you need to protect your vehicle.