Cheapest Car Insurance Companies of 2024

If you're looking for affordable car insurance, you'll be glad to know that prices start as low as $30 per month, according to NerdWallet's recent rate analysis. In this post, we'll explore the cheapest car insurance options available this August, helping you make informed decisions and potentially save money on your premiums.

Finding the Cheapest Car Insurance

In today's economy, saving on car insurance is a priority for many drivers. However, insurance rates can vary significantly depending on the company and your specific situation. What’s affordable for one driver might not be the same for another. That's where NerdWallet steps in. Our team analyzed data from 137 car insurance companies nationwide to identify the best deals across various categories.

Why Trust NerdWallet?

• We have over 60 years of combined experience covering the insurance industry.
• Our experts have analyzed more than 1.5 billion auto insurance rates.
• We reviewed over 700 auto insurance companies across 29,000 U.S. cities to provide you with the most comprehensive insights.

Our strict editorial guidelines ensure that our evaluations are fair and accurate. You can learn more about our evaluation criteria for auto insurance companies on our website.

Looking for Cheap Car Insurance? Here’s What You Need to Know

If your car insurance rates have recently increased, you're not alone. Premiums are on the rise across the U.S. To find the most affordable car insurance, it's essential to compare quotes from at least three different insurers. By doing so, you can identify the best rates tailored to your needs.

How NerdWallet Found the Cheapest Car Insurance Companies

Our editorial team worked with Quadrant Information Services to analyze both minimum and full coverage car insurance rates. We evaluated 35-year-old drivers across various ZIP codes in all 50 states and Washington, D.C., considering multiple driving and credit histories.

Types of Coverage: Minimum vs. Full Coverage

Full coverage is more comprehensive and typically costs more than minimum coverage. It includes additional protections such as uninsured/underinsured motorist coverage and comprehensive and collision insurance. If you have a car loan or lease, full coverage is often required.

Cheapest Car Insurance Companies

NerdWallet's analysis found that [Company A] is the cheapest large auto insurer for good drivers, offering an average annual rate of [Amount] or about [Amount] per month. However, smaller insurers may also provide competitive rates and are worth considering.

Cheap Car Insurance by State

Car insurance rates can vary significantly from state to state. To provide a more accurate comparison, we found the cheapest car insurance companies for minimum coverage in each state, including Washington, D.C.

Cheap Car Insurance by Driving Profile

Different driving profiles affect insurance rates. Here's a breakdown of how you can find affordable options based on specific scenarios:

• After a Speeding Ticket: [Company C] offers the lowest rates for drivers with a speeding ticket, averaging [Amount] per year.
• After an Accident: [Company D] provides the cheapest insurance for drivers with an at-fault accident, averaging [Amount] per year.
• After a DUI: [Company E] offers competitive rates for drivers with a recent DUI, at an average of [Amount] per year.

Tips for Getting Cheap Car Insurance

1. Compare Multiple Quotes: Use tools like NerdWallet's car insurance comparison tool to shop around. Even if you think you have the best deal, it's good to check annually.
2. Ask for Discounts: Look for discounts you might qualify for, such as low-mileage discounts, bundling insurance policies, or being a good student.
3. Consider Major Life Changes: Events like getting married or moving can impact your rates. Shop for new quotes whenever you experience significant life changes.
4. Raise Your Deductible: A higher deductible can lower your premium, but make sure you can afford the out-of-pocket cost if needed.
5. Revisit Quotes After Your Driving Record Improves: As tickets or accidents drop off your record, you might be eligible for lower rates.
6. Choose Your Car Wisely: The type of vehicle you drive can affect insurance costs. Older, less expensive cars typically cost less to insure.

Conclusion

Finding cheap car insurance doesn't have to be complicated. By comparing rates, asking for discounts, and keeping your driving record clean, you can find a policy that suits your needs and budget. Use NerdWallet's tools and resources to stay informed and make smart insurance choices.

Ready to Find the Best Deal?

Answer a few simple questions to compare personalized insurance matches and find the right car insurance at the right price.