Did you know the exact same driver could be charged $39 per month by one car insurance company and $255 per month by another? Our analysis — based on millions of car insurance quotes from 37 companies across the country — confirms the best way to save on car insurance is to shop around and get multiple quotes.
Cheapest car insurance company
What is the cheapest car insurance company for you?
Cheapest car insurance company overall: State Farm
State Farm is the largest auto insurance company in the country, with the cheapest widely available rates in 29 states. Additionally, the company boasts an enormous network of local agents, meaning there's likely a State Farm agent in your city who can help you compare rates.
State Farm is the best and cheapest car insurance company for most drivers, considering that USAA has eligibility restrictions, and Farm Bureau and Auto-Owners are disproportionately expensive when you add more coverage.
Rank | Company | Monthly rate |
---|---|---|
1 | USAA | $36 |
2 | Farm Bureau | $39 |
3 | Auto-Owners | $40 |
4 | Erie | $42 |
5 | State Farm | $44 |
State Farm also scores high marks for policy options. It offers pet coverage, rideshare insurance and roadside assistance. Customers also have plenty of options to bundle and even further lower their rates.
Drivers with State Farm can enroll in programs such as Drive Safe & Save to turn good driving habits into lower rates. They can also qualify for a range of discounts, including an accident-free discount, multicar discount and anti-theft discount.
Cheapest car insurance rates after discounts: Geico
Company | Number of car insurance discounts |
---|---|
Farmers | 21 |
Geico | 20 |
Allstate | 20 |
Travelers | 16 |
American Family | 16 |
Liberty Mutual | 14 |
Progressive | 12 |
USAA | 12 |
State Farm | 11 |
Nationwide | 10 |
Cheapest auto insurance company for a bad driving record: Erie
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Cheapest car insurance companies after a driving incident
Company | Clean record | Ticket | Accident | DUI |
---|---|---|---|---|
State Farm | $1,313 | $1,463 | $1,633 | $3,590 |
Erie | $1,379 | $1,469 | $1,721 | $2,257 |
Auto-Owners | $1,579 | $1,680 | $1,983 | $3,202 |
Farm Bureau | $1,576 | $1,774 | $2,110 | $2,813 |
American Family | $1,755 | $2,055 | $2,706 | $2,832 |
Geico | $1,918 | $2,336 | $3,170 | $4,459 |
Travelers | $2,148 | $2,588 | $2,985 | $3,082 |
Progressive | $2,038 | $2,623 | $3,163 | $2,564 |
Nationwide | $2,127 | $2,709 | $3,208 | $4,120 |
USAA | $1,170 | $1,417 | $1,613 | $2,222 |
Farm Bureau: A great choice for car insurance
Farm Bureau offers some of the most competitive quotes in the car insurance industry. Cheap rates, alongside solid customer service reviews, make Farm Bureau a worthy option to consider for any customer.
Membership in the Farm Bureau is available to all drivers, not just farmers. Although there is an annual fee associated with membership, usually less than $100 depending on where you live, this cost is offset by its industry-leading rates.
Few major carriers are able to compete with Farm Bureau's prices, according to our analysis, though Geico was an exception. In addition to its competitively priced auto insurance policies, however, Farm Bureau members can take advantage of other perks, such as discounts for travel, entertainment and prescriptions.
Below, we review industry experts' analysis of Farm Bureau customers' claims satisfaction. Overall, Farm Bureau has among the highest ratings we've seen for a major carrier.
- Replacement-cost coverage: Reimburses you for the cost to replace vehicle models up to four or five years old, depending on the state.
- Roadside-assistance coverage: Offers emergency roadside assistance, including towing and pick-up services following an accident or vehicle malfunction.
Special offerings: Driveology
Policyholders should consider enrolling in Farm Bureau's Driveology program if they can demonstrate consistent safe driving behavior. Drivers install a small device in their vehicle's OBD-II port. If the data gathered from the device indicates good driving behavior, drivers may save up to 30% on their car insurance premiums.
Other coverage considerations: Farm Bureau mutual dividend policies
Some of Farm Bureau's local chapters are mutual insurance companies, which means they're owned by policyholders. From time to time, policyholders may receive dividends. These don't have to be used as a rebate against car insurance — policyholders can use the funds for anything. However, dividends are based on the insurer's profitability, so they're not guaranteed. Farm Bureau subsidiaries will monitor their annual performance to determine if they will offer a dividend payment in any given year.
Car insurance discounts offered by Farm Bureau
While Farm Bureau doesn't have especially unique discounts compared to other insurers, it does offer many of the standard or widely available discounts. In fact, Farm Bureau's rates are typically already discounted to members, which is one of its main selling points to customers.
Farm Bureau does offer the Driveology program, which can help safe drivers save money. After installing a small device that measures driving behavior, drivers may receive a discount up to 30% off their premiums. Plus, they can take advantage of additional savings through Farm Bureau's SafeRide Rewards program.
Farm Bureau also offers a program known as SuperCheck, in which an agent reviews your policy once a year to ensure you're receiving all eligible discounts. A sample list of Farm Bureau car insurance discounts follows.