Cheapest Car Insurance Companies (2024)

Here are some of the cheapest car insurance companies for 2024, based on recent analyses from multiple sources:

1. Geico:

   – Cheapest Large Insurer: Geico consistently ranks as one of the cheapest options for minimum coverage, with an average annual rate of around $355, or about $30 per month. It’s especially affordable for good drivers and offers competitive rates for various driver profiles【67†source】【68†source】.

2. Travelers:

   – Affordable for Full Coverage: Travelers is noted for offering competitive rates, especially for drivers with a history of accidents. Their average rate for full coverage is approximately $1,124 annually, making it a cost-effective choice for those needing comprehensive protection【67†source】【70†source】.

3. American Family:

   – Competitive Full Coverage: American Family offers some of the lowest rates for full coverage, with an average annual cost of $1,279. This makes it a strong contender for those seeking extensive coverage at a reasonable price【68†source】.

4. USAA:

   – Best for Military Members: USAA offers highly competitive rates, but it is available only to military members, veterans, and their families. Their rates are often among the lowest, with an average monthly premium of around $26 for minimum coverage【67†source】【70†source】.

5. State Farm:

   – Reliable and Affordable: State Farm provides affordable options for various driver profiles, including those with a clean driving record and those with a history of accidents. They offer robust coverage options and strong customer service【67†source】【69†source】.

6. Auto-Owners Insurance:

   – Affordable for Midsize Coverage: Auto-Owners Insurance is known for providing affordable rates, particularly for midsize companies. Their rates are competitive, making them a good choice for those looking for budget-friendly options【67†source】.

7. American National:

   – Cheapest Midsize Company: American National offers some of the lowest rates for minimum coverage among midsize insurers, with a median monthly rate of about $25【68†source】.

For the best rates, it’s crucial to shop around and compare quotes from multiple insurers. Factors such as your driving history, location, vehicle type, and coverage needs can significantly influence your premiums. Using online comparison tools or consulting with an independent insurance broker can help you find the most affordable and suitable coverage for your specific needs.