What are the lowest auto insurance company costs available? (2024)
Looking for the lowest auto insurance costs? Drivers with a good history can save as much as $100/mo. by comparing quotes from different companies.
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Daniel Walker
Licensed Auto Insurance Agent
Daniel Walker graduated with a BS in Administrative Management in 2005 and has run his family’s insurance agency, FCI Agency, for over 15 years (BBB A+). He is licensed as an insurance agent to write property and casualty insurance, including home, life, auto, umbrella, and dwelling fire insurance. He’s also been featured on sites like Reviews.com and Safeco. To ensure our content is accura...
Licensed Auto Insurance Agent
UPDATED: Jun 23, 2023
It’s all about you. We want to help you make the right coverage choices.
Advertiser Disclosure: We strive to help you make confident auto insurance decisions. Comparison shopping should be easy. We are not affiliated with any one auto insurance provider and cannot guarantee quotes from any single provider. Our partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different companies please enter your ZIP code on this page to use the free quote tool. The more quotes you compare, the more chances to save.
Editorial Guidelines: We are a free online resource for anyone interested in learning more about auto insurance. Our goal is to be an objective, third-party resource for everything auto insurance related. We update our site regularly, and all content is reviewed by auto insurance experts.
UPDATED: Jun 23, 2023
It’s all about you. We want to help you make the right coverage choices.
Advertiser Disclosure: We strive to help you make confident auto insurance decisions. Comparison shopping should be easy. We are not affiliated with any one auto insurance provider and cannot guarantee quotes from any single provider. Our partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different companies please enter your ZIP code on this page to use the free quote tool. The more quotes you compare, the more chances to save.
On This Page
- Auto insurance is required in all states before you can drive
- There are a variety of auto insurance coverage options
- Finding cheap insurance rates is possible by comparing companies
However, auto insurance is not a “one size fits all” prospect, so it is important to understand what kind of insurance you need and how much insurance you need before making a purchasing decision.
Auto insurance provides you with financial protection if you are involved in a car accident.
Without proper auto insurance coverage or the right kind of insurance, you may find yourself subject to lawsuits and your assets, such as a house or business, may be at risk.
To get proper coverage, enter your ZIP code into our FREE car insurance comparison tool now.
Types of Auto Insurance
There are several different basic types of car insurance. While some forms of auto insurance are mandatory if you want to register your car and drive legally, others are not.
Choosing the right kind of car insurance and the right level of insurance will make a large difference in your insurance rates.
– Liability Insurance
Liability auto insurance is mandatory in 47 states. Liability auto insurance provides coverage for repairs or injuries to the other party if you are responsible for an accident.
It does not provide coverage for damages to your property or for injuries you or your passengers receive as a result of an accident you caused.
Mandatory liability car insurance levels are very low.
If you carry only minimum coverage, it will probably not be adequate to pay for the costs associated with an accident, leaving you vulnerable to lawsuits.
Liability auto insurance is one of the most affordable types of car insurance, so if you can afford to purchase additional coverage, it is wise to do so for the additional financial protection.
– Collision Insurance
Collision insurance pays for damages to your car if you are involved in an accident. It pays for accidents where your car hits a building, fences or guard rails.
Collision also provides coverage for hit and run and regardless of who is driving your car. If your car is financed or leased, your lender will require you to purchase collision auto insurance.
– Comprehensive Insurance
Comprehensive auto insurance is not legally mandatory, but if your car is financed or leased, your lender will require you to carry comprehensive insurance.
Comprehensive car insurance pays for damages that are the result of events other than accidents.
It pays for repairs to your car when it is damaged because of wind, flood, fire, hail and other events. It also pays for damages due to hitting an animal, vandalism or if your car is stolen.
– Personal Injury Protection
Personal injury protection is mandatory car insurance in 14 states. Personal injury protection is also commonly referred to as no-fault, PIP, and medical expense insurance.
Personal injury protection insurance pays for expenses related to injuries regardless of who is at fault in an accident.
PIP also pays for rehabilitation costs, lost wages and legal expenses.
– Underinsured/Uninsured Motorist Insurance
Although liability insurance is mandatory in almost all states, many motorists do not carry the coverage and drive illegally.
Even with mandatory insurance, often drivers have coverage that is inadequate to pay for the expenses that result from an accident.
Underinsured motorist insurance pays for those expenses once the other driver’s insurance has reached its limits.
Uninsured motorist insurance pays for damages when the other driver does not have insurance.
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Finding Low Premium Rates
When you are looking for low rates, compare at least three rate quotes, including the same type of insurance and the same level of insurance.
Independent insurance brokers represent multiple auto insurance companies. They can provide you with several car insurance premium rate quotes.
Additionally, they can also help you understand your insurance needs and make recommendations on the best level of insurance for your needs.
Many independent brokers also regularly review auto insurance rates when your policy comes up for renewal.
You only need to enter your information one time and you receive quotes from companies on these websites, with a telephone call or via email.
Auto insurance comparison websites allow you to request insurance rate quotes from multiple insurance companies at the same time.
Another source for auto insurance quotes is insurance companies. Almost all insurance companies now have corporate websites which provide detailed information on their products and services.
You can request a rate quote from an insurance company through their website, by talking to them on the telephone or by going to a dedicated insurance agency in person.
When you are looking for low-cost auto insurance, you need to understand precisely what kind and how much insurance you need for as much financial protection as possible.
To find the most protection possible at great rates, enter your ZIP code into our FREE auto insurance comparison tool.
Frequently Asked Questions
What are the factors that determine auto insurance costs?
When deciding your insurance premiums, auto insurance companies analyze a variety of factors. The following are the seven most common:
- Your age
- Driving record
- Type of vehicle
- Location
- Credit history
- Coverage limits
- Deductibles
Are there any auto insurance companies known for offering lower costs?
Several auto insurance companies are known for offering competitive rates and lower costs. However, the specific rates and availability may vary depending on your location, driving history, and other factors. It’s advisable to shop around and compare quotes from different insurance companies to find the best rates for your individual circumstances.
Can you provide a list of the lowest auto insurance companies for 2023?
It’s important to note that auto insurance costs can vary significantly based on personal factors. However, some insurance companies are often considered to have competitive rates. Top five include:
- Geico
- Progressive
- State Farm
- Allstate
- USAA (available to military members, veterans, and their families)
Please keep in mind that this list is not exhaustive, and the rates offered by these companies can still vary depending on your specific circumstances.
Are there any other factors to consider besides cost when choosing auto insurance?
While price is an important consideration, other factors must also be considered when selecting auto insurance. Among these are the five most common:
- The company’s financial stability
- Customer service reputation
- Claims handling process
- Coverage options
- The ease of managing your policy online or through mobile apps
Evaluating these factors alongside cost can help ensure you choose an insurance company that meets your needs.
Are there any government programs or initiatives that offer low-cost auto insurance options?
In certain regions or countries, there may be government programs or initiatives that provide low-cost auto insurance options to eligible individuals. These programs are often designed to help lower-income or high-risk drivers access essential auto insurance coverage. Availability and eligibility criteria vary depending on your location. It’s recommended to research and reach out to local government agencies or insurance regulatory bodies to inquire about any such programs that may be available in your area.
Free Auto Insurance Comparison
Enter your ZIP code below to view companies that have cheap auto insurance rates.
Secured with SHA-256 Encryption
Daniel Walker
Licensed Auto Insurance Agent
Daniel Walker graduated with a BS in Administrative Management in 2005 and has run his family’s insurance agency, FCI Agency, for over 15 years (BBB A+). He is licensed as an insurance agent to write property and casualty insurance, including home, life, auto, umbrella, and dwelling fire insurance. He’s also been featured on sites like Reviews.com and Safeco. To ensure our content is accura...
Licensed Auto Insurance Agent
Editorial Guidelines: We are a free online resource for anyone interested in learning more about auto insurance. Our goal is to be an objective, third-party resource for everything auto insurance related. We update our site regularly, and all content is reviewed by auto insurance experts.