The Best Car Insurance Companies of 2024

Erie

Erie is a top contender when it comes to car insurance companies, especially for collision repairs. They offer a wide range of coverage options and have received top scores from repair professionals for their collision repair claims processes[^1^]. Erie also stands out for its affordability, providing competitive rates for most driver profiles[^1^].

Pros & Cons

Here are some of the pros and cons of choosing Erie for your car insurance needs:

Pros:

• Offers gap insurance and new car replacement coverage, making it an excellent choice for new car owners[^1^].
• Provides accident forgiveness and vanishing deductibles, giving policyholders peace of mind[^1^].
• Budgeting costs is made easy with Erie’s Rate Lock, which keeps your price consistent year after year, unless you make specific policy changes[^1^].

Cons:

• Erie’s rates for drivers with bad credit are on the high side[^1^].
• Limited availability, as Erie is regional and only operates in 12 states[^1^].

States Available In

Erie is available in the following 12 states and Washington, D.C.:

• Illinois
• Indiana
• Kentucky
• Maryland
• New York
• North Carolina
• Ohio
• Pennsylvania
• Tennessee
• Virginia
• West Virginia
• Wisconsin

Nationwide: Best Overall

Nationwide is a top choice for car insurance, offering competitive rates and a variety of coverage options. They have received positive reviews for their auto insurance rates across various driving records and driver ages[^2^]. Nationwide is also known for its low level of complaints, making it a reliable option for auto insurance[^2^].

Pros & Cons

Consider the following pros and cons before choosing Nationwide for your car insurance:

Pros:

• Offers some of the cheapest rates for teens and seniors compared to other top companies[^2^].
• Provides a pay-per-mile insurance program (SmartMiles) for low-mileage drivers who want to save[^2^].
• Offers accident forgiveness, gap insurance, new car replacement, and vanishing deductible options to enhance policy coverage[^2^].

Cons:

• Car insurance rates for drivers with a DUI are higher compared to some top competitors[^2^].
• Rideshare insurance is not offered by Nationwide[^2^].

States Available In

Nationwide car insurance is available in 46 states and Washington, D.C. However, it is not available in Alaska, Hawaii, Louisiana, or Massachusetts.

Travelers: Great for Drivers with a Speeding Ticket

If you have a speeding ticket on your record, Travelers is an excellent choice for car insurance. They offer decent rates for various types of drivers, including those with a speeding ticket or a history of accidents[^3^]. Additionally, Travelers provides a range of optional coverage options to enhance your insurance protection[^3^].

Pros & Cons

Consider the following pros and cons of choosing Travelers for your car insurance:

Pros:

• The optional Responsible Driver Plan offers accident forgiveness and minor violation forgiveness, providing added peace of mind[^3^].
• Offers a new car replacement option, ensuring you receive a new car if yours is totaled[^3^].
• Has a low level of complaints filed against it with state insurance departments[^3^].

Cons:

• Rideshare insurance is only available in a couple of states, limiting its availability for rideshare drivers[^3^].
• Does not offer SR-22 insurance[^3^].

States Available In

Travelers auto insurance is available in 42 states and Washington, D.C. However, it is not available in Alaska, Hawaii, Louisiana, Michigan, North Dakota, South Dakota, West Virginia, or Wyoming.

USAA: Best for Military Members & Veterans

USAA is consistently rated as the best car insurance option for military members, veterans, and their families. They offer low-cost car insurance for various driving records and ages, exclusively for those who qualify for a USAA policy[^4^]. However, eligibility is limited to military members, veterans, and their immediate family members[^4^].

Pros & Cons

Consider the following pros and cons before choosing USAA for your car insurance:

Pros:

• Offers accident forgiveness and new car replacement coverage, providing additional protection[^4^].
• Provides rideshare insurance coverage for those working in the rideshare industry[^4^].
• Has the lowest average rate for good drivers among the top-rated companies we analyzed[^4^].

Cons:

• USAA car insurance is not available to everyone; only veterans, active military members, and their immediate families qualify[^4^].
• Does not offer gap insurance to cover the difference between your car’s value and the amount you owe on a loan or lease[^4^].
• Received a low grade from repair professionals for its collision repair claims processes[^4^].

States Available In

USAA car insurance is available in all 50 states and Washington, D.C.

Progressive: Best for Drivers With a DUI

If you have a DUI on your record, Progressive offers competitive pricing compared to other companies. They have the cheapest rates for drivers with a DUI among the companies analyzed[^5^]. In addition to this, Progressive provides many optional coverage types, including accident forgiveness, non-owner car insurance, and SR-22 filings[^5^].

Pros & Cons

Consider the following pros and cons of choosing Progressive for your car insurance:

Pros:

• Offers the cheapest rates for drivers with a DUI among the companies we evaluated[^5^].
• Provides options such as gap insurance for new car owners[^5^].
• Offers accident forgiveness and a vanishing deductible, along with a usage-based program (Snapshot) that allows good drivers to potentially receive a decent discount[^5^].

Cons:

• Rates for senior drivers and those adding a teen to their policy are only mediocre compared to other insurers[^5^].
• Rates may go up for drivers using the Snapshot program if their driving score is low[^5^].

States Available In

Progressive car insurance is available in all 50 states and Washington, D.C.

Auto-Owners: Best for New Cars

Auto-Owners Insurance stands out when it comes to coverage options for new car owners. They offer gap insurance, accident forgiveness, and a diminishing deductible, providing comprehensive protection for new vehicles[^6^]. Auto-Owners has also received a high grade from collision experts for its claim process[^6^].

Pros & Cons

Consider the following pros and cons of choosing Auto-Owners for your car insurance:

Pros:

• Offers gap insurance, accident forgiveness, and a diminishing deductible, providing comprehensive coverage for new car owners[^6^].
• Provides a “purchase price guarantee” for new car owners, ensuring they receive the original purchase price if their car is totaled within the first two years[^6^].
• Received a high grade from collision experts on its claim process[^6^].

Cons:

• Rates may be high for drivers with poor credit[^6^].
• Costs for adding a teen driver to the policy are pricey[^6^].
• Does not provide SR-22 filings[^6^].

States Available In

Auto-Owners car insurance is available in 26 states:

• Alabama
• Arizona
• Arkansas
• Colorado
• Florida
• Georgia
• Idaho
• Illinois
• Indiana
• Iowa
• Kansas
• Kentucky
• Michigan
• Minnesota
• Missouri
• Nebraska
• North Carolina
• North Dakota
• Ohio
• Pennsylvania
• South Carolina
• South Dakota
• Tennessee
• Utah
• Virginia
• Wisconsin

Geico: Great for Drivers With Poor Credit

Geico is an excellent choice for drivers with poor credit, offering competitive rates compared to most competitors. They provide affordable car insurance for drivers with less-than-perfect credit scores[^7^]. Geico also offers a range of coverage options, such as accident forgiveness, non-owner policies, and SR-22 filings[^7^].

Pros & Cons

Consider the following pros and cons of choosing Geico for your car insurance:

Pros:

• Offers great rates for seniors, who are typically more expensive to insure[^7^].
• Provides accident forgiveness, non-owner policies, and SR-22 filings[^7^].
• Has a low level of complaints filed against it with state insurance departments[^7^].

Cons:

• Does not offer gap insurance to cover the difference between your car’s value and the amount you owe on a loan or lease[^7^].
• Does not provide coverage features such as new car replacement, a vanishing deductible, or rideshare insurance[^7^].

States Available In

Geico car insurance is available in all 50 states and Washington, D.C.

Westfield: Best for Family Discounts

Westfield offers competitive car insurance rates and a variety of family discounts, making it an attractive option for families[^8^]. Their family discounts include discounts for teen drivers, adult children obtaining their own policies, and companion car insurance discounts for non-blood relatives[^8^]. Westfield also received a high grade from repair professionals for its collision claims process[^8^].

Pros & Cons

Consider the following pros and cons of choosing Westfield for your car insurance:

Pros:

• Offers various family discounts, including a discount for teen drivers in your household and adult children obtaining their own Westfield car insurance policies[^8^].
• Provides gap insurance, new car replacement, and accident forgiveness options[^8^].
• Received a high grade from repair professionals on its collision claims process[^8^].

Cons:

• Had the highest average auto insurance cost for drivers with a DUI among the companies analyzed[^8^].
• Does not offer the option to get a car insurance quote online on Westfield’s website[^8^].
• Only available in 10 states[^8^].

States Available In

Westfield offers personal auto insurance in the following 10 states:

• Indiana
• Illinois
• Iowa
• Kentucky
• Ohio
• Michigan
• Minnesota
• Pennsylvania
• Tennessee
• West Virginia

Summary of the Best Car Insurance Companies

Based on our analysis, the best car insurance companies of 2024 are Erie, Nationwide, Travelers, USAA, Progressive, Auto-Owners, Geico, and Westfield. These companies offer a variety of coverage options, competitive rates, and reliable customer service. However, the best car insurance company for you will depend on your specific needs, driving record, and location. It’s essential to compare car insurance quotes to find the best price for your unique situation.

How to Find the Best Car Insurance

Finding the best car insurance requires careful consideration of your coverage needs and comparison shopping. Follow these steps to find the best car insurance for you:

Step 1: Determine Your Coverage Needs

Before shopping for car insurance, determine the coverage types you need. This includes liability insurance, which is required in almost all states and covers damage and injuries you cause to others. Additionally, consider collision and comprehensive insurance to protect your own vehicle.

Step 2: Comparison Shop

To find the best car insurance company, compare quotes from multiple insurers. Rates can vary significantly, so obtaining quotes from various companies will help you identify the best price for your specific situation. Consider both national brands and smaller regional companies, as they may offer competitive rates or additional discounts.

Step 3: Consider Additional Coverage Options

While liability, collision, and comprehensive insurance are essential, there are additional coverage types you may need to consider. These include gap insurance, rental reimbursement, and umbrella insurance. Assess your needs and determine if any of these additional coverage options are necessary for your situation.

Step 4: Purchase with Confidence

After comparing quotes and considering coverage options, purchase a car insurance policy that best suits your needs. Ensure that you understand the terms and conditions of the policy before finalizing the purchase.

Step 5: Regularly Review and Update

Car insurance is not a set-it-and-forget-it policy. Review your coverage regularly, especially when you have changes in your situation, such as adding a driver, buying a new car, or moving. Shopping around periodically can help ensure you are getting the best rates.

Car Insurance Rates by State {#car-insurance-rates}

Car insurance rates vary by state due to factors such as population density, accident rates, and local regulations. Here are the average annual auto insurance costs for good drivers in each state:

Note: Rates are based on a 40-year-old female driver with a good driving record and coverage of $100,000 for injuries to one person, $300,000 for injuries per accident, and $100,000 for property damage.

Types of Car Insurance

Car insurance consists of several coverage types that protect you and your vehicle in different scenarios. Here are the primary types of car insurance you should be familiar with:

Liability Car Insurance

Liability car insurance is a fundamental coverage type that pays for damage or injuries you cause to others in an accident. It covers medical expenses, property damage, and legal defense if you are sued for causing an accident. However, liability insurance does not cover your own injuries or damages to your vehicle.

Collision Car Insurance

Collision insurance covers damage to your own vehicle caused by a collision with another vehicle or object, regardless of fault. It helps pay for repairs or replacement of your car if it is damaged in an accident. Collision insurance is typically required if you have a car loan or lease.

Comprehensive Car Insurance

Comprehensive insurance provides coverage for damage to your vehicle that is not caused by a collision. It covers theft, vandalism, natural disasters, falling objects, fire, and other non-collision-related incidents. Comprehensive insurance also covers the actual cash value of your car if it is stolen.

Full Coverage Car Insurance

Full coverage car insurance is a term commonly used to describe a policy that includes liability, collision, and comprehensive insurance. While it may vary depending on the insurance company, full coverage typically provides a comprehensive level of protection for a wide range of situations.

Gap Car Insurance

Gap insurance is optional coverage that pays the difference between the actual cash value of your car and the amount you still owe on a loan or lease. It is useful for new car owners who may owe more on their vehicle than its actual value. If your car is totaled, gap insurance covers the “gap” to ensure you are not left with a loan or lease balance.

How Much Does Car Insurance Cost?

Car insurance costs vary depending on several factors, including your driving record, age, location, coverage selections, deductible amount, and vehicle model. On average, car insurance costs $2,026 per year or approximately $169 per month[^11^]. However, it’s important to note that rates can differ significantly based on individual circumstances.

It is crucial to compare multiple car insurance quotes to find the best rate for your specific situation. Each insurance company uses its own formula to calculate rates, placing different weights on various factors. By shopping around, you can identify the insurer that offers the most competitive price for your needs.

Collision Repair Grades for Car Insurance Companies

The quality of a car insurance company’s collision repair claims process can significantly impact the satisfaction of policyholders. Repair professionals play a vital role in assessing how insurers handle claims and repair processes. Here are the collision repair grades from repair professionals for the car insurance companies analyzed:

Source: CRASH Network

Car Insurance Outlook for 2024

The car insurance industry in 2024 is expected to be influenced by several factors, including economic conditions, legislation, and technological advancements. Here are some key trends likely to shape the car insurance landscape:

Rising Insurance Rates

Auto insurance rates are expected to continue rising due to various factors. Inflation has played a significant role in increasing rates, as the costs of medical expenses, car repairs, and legal settlements have outpaced the rate of inflation. Additionally, insurance companies are facing higher claim payouts, leading to increased rates to offset losses[^11^].

Legislative Changes

States will continue to explore legislation aimed at reducing car insurance costs and protecting consumers. These changes may include reforms to address issues such as insurance fraud, medical billing practices, and unfair claims handling practices. Monitoring legislative developments can help policyholders stay informed about potential changes that could impact their insurance rates[^11^].

Technological Advancements

Advances in technology are expected to play a significant role in the car insurance industry. Telematics devices, such as usage-based programs, allow insurers to monitor and reward safe driving behaviors. This technology can potentially lead to lower rates for policyholders who demonstrate safe driving habits. Additionally, artificial intelligence and data analytics are being utilized to improve claims processing and identify potential fraud

As the car insurance industry continues to evolve, it is crucial for consumers to stay informed and regularly review their coverage to ensure they are getting the best value for their insurance needs.

Conclusion

Choosing the best car insurance company requires careful consideration of your coverage needs, budget, and personal circumstances. Erie, Nationwide, Travelers, USAA, Progressive, Auto-Owners, Geico, and Westfield are among the top car insurance companies in 2024, offering a range of coverage options and competitive rates. By comparing quotes and considering additional factors such as customer reviews and collision repair grades, you can make an informed decision and find the best car insurance policy for your specific needs.

Remember to regularly review and update your car insurance coverage to ensure you have adequate protection. Car insurance is a vital financial tool that provides peace of mind and financial security in the event of accidents or unforeseen circumstances.