Compare Car Insurance Quotes & Rates (2024)

Car insurance companies generally use the same variables — driver age, location, credit history, vehicle and driving history to calculate rates, yet they all determine quotes differently. Certain characteristics about you could make one option much more affordable than another. Learning to compare car insurance quotes and switching car insurance companies could save you hundreds of dollars per year.

Using our data, we’ve highlighted how much rates can change between insurance providers based on the most common factors that insurers use to determine rates.

There are four steps you’ll have to take to ensure you’re comparing car insurance quotes properly: collect your personal information, decide on appropriate coverage levels, apply all discounts and compare prices.

MoneyGeek has tools for you to compare car insurance quotes instantly. If you want to see how a combination of age, location, vehicle type, driving record and other factors combine to make a unique quote, you can use MoneyGeek's car insurance calculator.

The amount of coverage you need will impact how much you will pay for your monthly premium and what provider you should choose. A full coverage policy includes comprehensive and collision insurance and offers the best protection in the event of an accident or damages to your vehicle. Minimum coverage will be determined by your state, but generally offers the most affordable yet lowest coverage amounts.

We used our average sample driver profile (as defined in our methodology) and analyzed quotes from 473 ZIP codes across all 50 states to discover the average rates for both full and minimum coverage policies provided by the most widely available insurers. Use the table below to get a general idea of what national average rates are among the most common insurance companies.

Two age groups are the most expensive to insure: younger, inexperienced teen drivers and senior drivers. These two groups have the highest accident rates or fatal accident rates compared to other age groups.

MoneyGeek found that:

• The average 40-year-old driver would pay $1,336 per year for auto insurance.
• The average 70-year-old driver would pay $1,390 per year for auto insurance.
• The average 18-year-old driver would pay $4,868 per year for car insurance.

You can also look at the average annual premiums in the table below and compare each of the nine common car insurance companies with each age group.

According to data compiled by the National Safety Council(NCS):

• Drivers aged 16 to 19 account for only 3.5% of all licensed drivers, yet have the highest rate of crashes — 22,103 crashes per 100,000 drivers.
• Drivers aged 35 to 44 account for a much larger pool of licensed drivers, 16.5%, but only have a rate of 9,062 crashes per 100,000 drivers.
• Drivers aged 65 to 74 account for 13.7% of all licensed drivers, with a rate of 4,383 crashes per 100,000 drivers.

The NCS stated that overall, as driver age increases, the crash rate decreases, but noted that the fatal crash rate begins to tick upward for drivers 75 and older.

For younger drivers, it may seem like a lot of money to put toward insurance. You might debate whether you need your own insurance or you can stay on a parent's plan. Whichever you decide, consider doing some research on the best car insurance for students so you can budget your money accordingly.

Same for senior drivers. There are also options to obtain the best auto insurance for seniors that fit your needs.

Just like household details, the type of vehicle you drive can affect your car insurance rates. The more expensive a car is to repair, the more it costs to insure. Several factors will affect the cost of insuring a particular model, including its repair costs, its safety ratings, the likelihood it will be stolen and whether it is the type of car, such as a sports car, in which drivers are less likely to drive safely.

MoneyGeek found that, depending on the model, the cost to insure a car can change by almost $1,800 per year. For our sample driver, the cheapest car model to insure was a Jeep Patriot, at a cost of $1,085 per year, while the most expensive was a Tesla Model Y, which costs $2,878 to insure.

When car shopping, it’s always a good idea to get several car insurance quotes to compare, especially if you’re looking at more than one option. Take a look at the chart below to see the average annual premium for over 50 car models.

The best way to keep car insurance rates low is for all household drivers to maintain a clean driving record. Any ticket or accident has the potential to increase car insurance rates, meaning it's harder to find cheap car insurance with a poor record. To finalize your quote, insurers will often ask for your driver's license number, making it hard to get car insurance without a license.

MoneyGeek found that:

• A speeding ticket increases car insurance rates by an average of 29%.
• An at-fault accident increases car insurance prices by an average of 50%.

We’ve broken out the rate increases by individual insurers, as some companies will charge more than others after a driving violation.

Using the study data, MoneyGeek determined the average rate increase one can expect if an at-fault accident occurs or a speeding ticket is found on the driving record. According to the data, one ticket can increase car insurance rates by an overall average of 29%. You can compare the cost of a policy with or without a ticket from each of the car insurance companies below.

The same data was used to see how an at-fault accident would affect the rate of a car insurance policy. Auto accidents usually have more of a negative effect on car insurance rates than a ticket, and an at-fault accident surcharge may be applied to your insurance premium for a minimum of three years. The data supports this as it shows the average car insurance rate increase due to an at-fault accident is 50% when you take into account all average annual premiums below. You can also review the table below for each of the common car insurance companies' premiums for a driving record with or without an at-fault accident.

Most car insurance companies use the applicant's credit history or credit-based insurance score as a factor to help determine the insurance rate. Your credit score can significantly impact your car insurance rate, with good or better credit getting the best rates.

Our data shows that:

• A driver with good credit would pay an overall average of $1,337 per year for car insurance.
• The same driver with fair credit would pay an overall average of $1,597 — 16% more per year.
• An identical driver with poor credit will pay an overall average of $2,466 — 63% more than a driver with fair credit and 88% more than a person with good credit.

Even if you don't have a good credit score, you can still find affordable car insurance with bad credit. Take a look at the table below to see how each insurer compares across the different credit score grades.

Credit scoring for auto insurance is different than for loans and credit cards. According to the National Association of Insurance Commissioners (NAIC), the top three factors that go into credit-based insurance scoring are payment history, outstanding debt and credit history length.

Credit score ranges for this example are defined as:

• Good: 769–794
• Fair: 710–740
• Poor: 524–577

Most states allow insurers to use credit data as a determining factor when preparing car insurance quotes. California, Hawaii, Massachusetts and Michigan are the only states that do not use credit history to determine car insurance rates.

Every state has different car insurance requirements that drivers have to meet. Not all coverages are required, which can influence car insurance rates. For example, some states require personal injury protection (PIP) and uninsured/underinsured motorist (UM) coverages on all car insurance policies, while others offer this as optional coverage.

MoneyGeek's data analysis shows that Maine is 89% less expensive than the most expensive state, Michigan. On average, you can expect to pay $577 per year on car insurance in Maine, while those who live in Michigan should expect to pay an average of $5,182 for the same coverage.

Location matters when it comes to car insurance rates. What makes one state unique may also help contribute to higher or lower rates, especially when it comes to weather, traffic congestion and population. Location can affect car insurance rates in the following ways:

• Severe Weather: In states with a greater risk of severe weather conditions like hurricanes, tornadoes and flooding, and those with winter weather conditions, such as ice and snow, expect to pay higher insurance rates, especially for comprehensive coverage.
• Thefts: States that are more prone to vehicle thefts could see a higher rate for car insurance, especially comprehensive coverage, compared to others with fewer auto thefts.
• State Insurance Requirements: Meeting state insurance requirements, like higher liability limits, could cause car insurance rates to be more expensive compared to other states with lesser limit requirements.
• Number of Claims in the Area: Certain areas in states with higher than average claims could also see car insurance rates increase for everyone, not just those who submit claims.
• Accident Frequency and Severity: A state that experiences more accidents or has more severe accidents may cost more to insure a car than one with a lower accident frequency.
• Volume of Litigated Claims: The more litigated claims a state experiences may cause the cost of car insurance to be higher.
• Volume of Claim Fraud: If insurers deal with more claim fraud in one state than another, the companies may charge more in the state with the higher volume.
• Cost of Medical Care: States with a higher cost of medical care may have higher car insurance rates.

Finding the best rates in your state likely means comparing quotes from multiple insurers. While one company may be the cheapest on average in your state, you may find lower rates for your situation with a different company.

Take a look below to see what the average quote is based on a particular city or state. It includes only companies that offer coverage in at least 30 states. The prices provided are an estimate and do not reflect actual costs in each state and city. However, these rates can be used to get a general idea of the cheapest car insurance companies in a particular state or city.

MoneyGeek asked drivers to rank nine factors from most to least impactful to auto insurance premium prices. We compared the results of this survey to our own analysis of thousands of quotes to see if consumers' perceptions of factors in pricing aligned with reality.

Our survey included 1,068 licensed drivers who were the primary decision maker for auto insurance purchases in their households from September 9 to September 13, 2021. The margin of error for the study was 3%.

Overall, we found that drivers overestimated the impact of driving record (at-fault accidents, DUIs, etc.) on insurance premiums and underestimated their insurance provider’s effect on costs.

In a surprise to drivers, MoneyGeek’s analysis found that a 40-year-old man with a DUI paid less for auto insurance than a 19-year-old with a clean record. When asked who would pay more, drivers in our survey indicated the 40-year-old with the DUI. Similarly, drivers ranked having an at-fault accident on your record as the most impactful factor in insurance pricing of the nine factors we measured.

MoneyGeek found that premiums fluctuate significantly from insurer to insurer, making it the most significant factor of the nine we assessed. We also discovered that comparison shopping could save consumers up to 48% on insurance costs. Consumers estimated they could only save 23% by comparison shopping.

Two-thirds (66%) of Americans in our survey reported changes in their driving habits (frequency and distances driven) due to the pandemic. Only 46% of those drivers have shopped for auto insurance in the past year. While often small, drivers who have significant decreases in their mileage may be eligible for low mileage discounts or benefit from pay-per-mile insurance.

Our analysis showed that those with a poor credit score pay 48% more than those with a fair score, and those with a fair score pay 47% more than those with an excellent score. Your credit history is the second most important factor in insurance pricing in all states except California, Hawaii, Massachusetts and Michigan, where insurers are prohibited from using credit information as a rating factor. Our survey showed consumers thought credit scores were the second least impactful factor in pricing.

With so many car insurance companies vying for your business, it’s crucial to compare quotes early and often to ensure you’re getting the most for your money. Get answers to some of the most commonly asked questions about comparing quotes.