Cheapest Car Insurance Companies

Farmers offers the cheapest car insurance nationwide for drivers aged 40 to 65, with minimum liability coverage starting at $56 monthly, 49% below the national average. Farmers also provides the lowest full coverage rates at $114 per month, making it the top choice for drivers aged 40 to 65 seeking affordable comprehensive protection.

GEICO ranks second with minimum coverage at $66 monthly and full coverage at $145, offering rates 37% below the national average. Progressive, Travelers and State Farm provide competitive alternatives, with minimum coverage costing between $86 and $90 monthly.

The table below ranks the most affordable car insurance companies nationwide for drivers aged 40 to 65. This broader age range indicates which companies offer the best rates for middle-aged and senior drivers.

*USAA is consistently the most inexpensive car insurance company for military members, veterans, and their families for most policies, but availability is limited to those who qualify for membership.

GEICO offers the cheapest full coverage car insurance in 49 out of 51 states, with monthly premiums ranging from $59 in Hawaii to $207 in Washington, D.C. GEICO delivers the best starting point for 40-year-old drivers comparing rates across nearly the entire country.

Progressive provides the most affordable rates in Nebraska at $113 per month. Nationwide leads only in Pennsylvania at $88 per month, offering the lowest rates in the nation.

Use the table to find the most affordable car insurance company in your state:

*State rates reflect averages for a 40-year-old male driver with a clean driving record, fair credit, and a 2012 Toyota Camry.

GEICO offers the cheapest full coverage car insurance in 49 out of 51 states for 40-year-old drivers, with an average monthly premium of $149 or $1,785 annually. In states where GEICO is the most affordable provider, it saves drivers an average of 28%.

State Farm and Travelers also offer competitive full coverage rates nationwide for drivers aged 40 to 64. State Farm averages $165 per month or $1,980 annually, saving 18% compared to the national average. Travelers provides coverage at $178 per month or $2,136 annually, delivering 12% savings below typical rates.

Use the table to find affordable full coverage auto insurance in your state:

*State rates reflect averages for a 40-year-old male driver with a clean driving record, fair credit, and a 2012 Toyota Camry.

In 49 of 51 states, GEICO offers the lowest minimum coverage rates. Drivers choosing GEICO in these states pay an average of $65 monthly or $780 per year, saving 30% compared to their state's average rates.

Beyond GEICO, nationwide options include Travelers and National General with competitive liability coverage prices. Monthly premiums from Travelers average $97 or $1,164 per year, representing 19% savings against the national average. National General's rates are $109 monthly or $1,308 annually, which is 13% below typical costs.

Check the table below for your state's most affordable minimum coverage option.

*State rates reflect averages for a 40-year-old male driver with a clean driving record, fair credit, and a 2012 Toyota Camry.

The most affordable auto insurance company varies depending on your age group. We've analyzed rates across three key demographics to help you find the most affordable coverage for your specific situation. The data below shows which insurers offer the lowest premiums for minimum and full coverage at different ages, along with potential savings compared to more expensive auto insurance companies.

GEICO is the cheapest car insurance company for most teen drivers seeking minimum coverage, with rates dropping as teens gain experience. At 17 years old, drivers pay $237 monthly, while 18-year-olds see rates fall to $205 monthly, and 19-year-olds get even better rates. State Farm offers the most cost-effective option for 16-year-olds, saving policyholders 38% compared to the national average, with quotes averaging $271 monthly.

Teen drivers pay higher rates for auto insurance coverage because this age group is three times more likely to get into an accident than older policyholders. Use the table to see how much you could save insuring a teen driver with the most budget-friendly auto insurers.

GEICO is the least expensive car insurance company for young adults for minimum and full coverage protection. GEICO's rates for minimum coverage drop from $132 monthly at age 20 to $75 monthly by age 25, with potential savings increasing between ages 22 and 24 by 3%. For full coverage, GEICO's rates decline from $288 monthly at age 20 to $164 monthly by age 25.

State Farm is the cheapest car insurance company for senior drivers looking for budget-friendly policies. Drivers choosing State Farm save 28% on average. Minimum coverage quotes start at $137 monthly, saving seniors $633 annually. Travelers is the second most affordable company, saving senior citizens $550 annually with rates as low as $144 monthly.

GEICO provides the lowest car insurance rate for seniors for full coverage at $124 monthly. Seniors who choose GEICO potentially save $506 per year over pricier companies. See the table below to compare the least expensive rates for seniors.

*The low-cost rates shown are for a full coverage policy with 100/300/100 limits and a $1,000 deductible for collision and comprehensive coverages. You can customize your deductibles, choosing different amounts for each coverage.

USAA is the most affordable car insurance company for military members, veterans and their families. With minimum coverage starting at just $335 annually and full coverage at $835, USAA's military-exclusive pricing creates savings of nearly $200 compared to the next lowest company's premiums.

GEICO has the most affordable rates for those who don't qualify for USAA membership, with quotes as low as $514 for minimum coverage and $1,177 for full coverage.

State Farm offers the cheapest car insurance for high-risk drivers across all violation types, providing the lowest car insurance premiums for drivers with at-fault accidents, averaging $62 monthly. Drivers with a DUI pay rates of $72 monthly, and drivers with speeding tickets can expect premiums around $56 monthly. High-risk drivers can save between 30% and 38% on their premiums by selecting one of our recommended low-cost insurers. Use the table below to compare the most affordable car insurance companies for your high-risk situation and preferred coverage.

National General is the most budget-friendly car insurance company for drivers with bad credit, with the lowest premiums at $72 monthly for minimum coverage. GEICO takes second place for credit-challenged drivers at $96 monthly, while Travelers rounds out the top three national budget-friendly car insurance companies at $117 monthly. Your credit score affects your car insurance rates in most states, but some companies are more forgiving than others.

Compare low-rate auto insurance premiums for drivers with poor credit in the table:

Programs like Progressive Snapshot, State Farm Drive Safe & Save, and GEICO DriveEasy offer pathways to the lowest car insurance rates for qualifying drivers. With discounts up to 40%, these providers are the best car insurance companies for safe drivers. Usage-based insurance monitors driving habits through smartphone apps or plug-in devices, rewarding safe drivers with discounts.

This coverage model works well for tech-savvy drivers, those with good driving habits and anyone willing to share driving data for potential savings. Some of the best usage-based programs available from national insurance companies are detailed in the table:

Finding low-cost auto insurance requires comparing quotes from multiple providers while maintaining adequate financial protection. Follow this guide to identify affordable car insurance options for your specific situation.

Securing affordable car insurance requires strategy. We've identified five methods that deliver competitive rates for basic minimum coverage or comprehensive full coverage car insurance. Follow this approach to discover options that match your coverage needs without sacrificing financial protection.

While knowing which car insurance companies offer the best value provides a baseline, getting personalized quotes reveals your options based on your specific profile. The most affordable car insurance for you may differ from general rankings, making quotes important for finding your lowest rates.

Finding affordable coverage makes sense for your budget, but the lowest price doesn't always provide the best value. Companies offering rates far below competitors might cut corners on important areas when you need to file a claim.

• Slow claims processing: Budget providers sometimes take weeks or months to handle claims, leaving you without transportation, while established companies generally process claims faster through larger networks of repair shops and adjusters.
• Limited customer service: Insurers offering rock-bottom rates may have smaller support teams, leading to longer hold times and less personalized assistance when you need help with your policy.
• Fewer coverage options: Many budget insurers provide basic liability policies without add-ons like roadside assistance or rental car reimbursement, which can protect you from costly out-of-pocket expenses after an accident.
• Financial risk with minimum coverage: Your policy covers damages only up to your limit, and you're responsible for anything beyond that amount in a serious accident.
• Hidden fraud costs: According to the FBI, insurance fraud costs the average family between $400 and $700 per year in premiums, meaning you're already paying for other people's fraudulent claims no matter which insurer you choose.

Car insurance scams target drivers through fake companies, staged accidents and dishonest agents who collect premiums without providing real coverage. Fraudsters often lure victims with prices below market rates, then disappear when it's time to pay claims. Protect yourself by verifying licenses, recognizing warning signs and knowing where to report suspicious activity. Follow these steps to avoid falling victim to insurance fraud.

The most economical car insurance company varies by individual circumstances, but GEICO offers competitive rates across multiple driver profiles. Travelers provides excellent value for low-budget full coverage, while USAA is the most affordable for military families.

We answer common questions about saving money on car insurance to help you find the cheapest policy:

The cheapest car insurance company isn't the same for everyone. Rates vary by hundreds of dollars based on your age, location and driving history. We gathered quotes from hundreds of insurers across thousands of ZIP codes to show you which companies offer the lowest rates for your specific situation and help you avoid overpaying for coverage.

We analyzed insurance rates from state insurance departments and Quadrant Information Services, using driver profiles with varying ages, driving histories, credit scores and locations to identify the lowest rates for different needs.

Quote data depth:

MoneyGeek reviewed 2,474,515 quotes from 607 companies across 3,523 ZIP codes to find the most affordable car insurance options for various driver profiles.

Driver profiles:

MoneyGeek's analysis used a standard driver profile with these characteristics:

• 40-year-old man
• Clean driving record
• 2012 Toyota Camry LE
• 12,000 miles driven annually

We adjusted this profile based on location, age, credit score and driving history, including ticket, DUI or accident scenarios. Family premiums were calculated by adding a 16-year-old to a family policy.

Defining full coverage quotes:

Unless stated otherwise, a full coverage policy includes specific coverage limits such as:

• $100,000 in bodily injury liability coverage per person
• $300,000 in bodily injury liability coverage per accident
• $100,000 in property damage liability coverage per accident
• Comprehensive and collision coverage with a $1,000 deductible

Defining minimum coverage quotes:

Unless stated otherwise, a minimum coverage policy includes:

• $100,000 in bodily injury liability coverage per person
• $300,000 in bodily injury liability coverage per accident
• $100,000 in property damage liability coverage per accident

This excludes comprehensive and collision coverage. Note that minimum coverage differs from state minimum coverage requirements.

How we ranked the insurers for affordability:

We evaluated providers using data from AM Best, J.D. Power, the CRASH Network report card, Quadrant Information Services and state insurance departments. Insurers were scored out of 100 using these weighted factors:

• Financial stability: 5%
• Customer satisfaction: 25%
• Claims satisfaction: 20%
• Coverage offerings: 10%
• Affordability: 40%

This approach reveals which insurers balance the lowest rates with reliable service, helping you find affordable coverage that won't let you down when you need to file a claim.

Learn more about MoneyGeek's auto insurance methodology.