Low Rate Auto Insurance: Updated January 2023

Low Rate Auto Insurance – Do you want to save money on auto insurance, but you don’t want to skimp on coverage or service? It’s understandable if the thought of purchasing auto insurance with a “cheap” premium gives you the willies. When we talk about cheap auto insurance, we’re talking about something entirely different. The price is reasonable. It’s a smart financial move.

Finding reliable and low rate auto insurance is a challenge that every driver must face. There is a wide variety of options to consider, and that can make the task seem daunting. This resource will help you find the best auto insurance policy at the most affordable rate. This article ranks auto insurance providers by price for several categories of drivers based on their driving records, demographics, and other factors. It’s vital to keep in mind that insurance companies assess each driver’s risk profile and tailor their premiums accordingly. This means that premiums are not uniform across all policyholders.

Ways to Reduce Auto Insurance Costs

Multiple factors will determine how much you pay for car insurance. If you shop around, you can find the policy that best suits your needs at the most affordable premium. There are many ways to get a low rate auto insurance, regardless of your current policy.

  • Adding more vehicles or drivers to your policy
  • Auto and home insurance packages
  • Complete the defensive driving course and pay off your insurance in full
  • Maintain a spotless driving record.
  • Regularly update the details of your policy.
  • Take a look at your deductibles and limits.
  • Let us know if your vehicle has any anti-theft or safety features.
  • When buying a car, take into account the type of vehicle you select.

The cheapest car insurance

We focused our research on mandatory minimum coverage because it’s likely to be the most cost-effective option in your state. Liability-only auto insurance is meant to compensate for the financial losses sustained by others as a result of accidents you cause. 

Auto insurance with the bare minimum coverage we could find cost an average of $354 per year, or $29 per month. Your driving record and the state in which you reside are just two of the variables that can affect how much you pay for car insurance.

The cheapest car insurance company overall: Geico

Geico has the lowest minimum coverage rates of any major auto insurance company in the country, according to the most recent analysis by NerdWallet. In 2016, Geico charged an average of $354 per year, or about $29 per month. The company was also given a 4.5-star rating by NerdWallet.

The cheapest regional car insurance company: Central Insurance

To get low rate auto insurance, you can shop around and not just with the major insurers. Smaller insurers that serve multiple states, like Central Insurance, MMG, and Secura, can often provide coverage for significantly less than Geico. Car insurance from a local or niche provider may be less expensive than from a national or multinational company, despite the fact that coverage options may be more limited. On top of that, they usually have fantastic support services for their customers.

Cheapest car insurance after an accident: Geico

Your driving record will determine which insurance provider is best for you. Insurance premiums for drivers with a recent accident on their record are displayed in the following table. Based on our research, Geico offers competitive and low rate auto insurance for drivers with a single at-fault accident, charging an average of $577 annually, or $48 monthly.

Cheapest car insurance after a DUI: American Family

Your auto insurance rates will likely increase significantly if you have a history of DWI. Based on our findings, American Family is the auto insurance company with the most affordable rates following a DUI, with an average premium of $716 annually, or $60 monthly.

Cheapest auto insurance for poor credit: Geico

A higher premium is possible regardless of your driving history. Auto insurance premiums are often calculated using credit-based insurance scores, which are used by many insurance companies. This can make it harder to find cheap auto insurance in many states for people with poor credit.

Factors like debt and payment history are included in a credit-based score, but they carry less weight than they do in a traditional credit score. The effect of credit on car insurance premiums is often unexpected. Poor credit drivers’ annual premiums can be as much as $400 higher than those of good credit drivers. Regardless of your credit history, you should always shop around for the best and low rate auto insurance.

If you want to find low-cost auto insurance from a major company, Geico could be a good option to investigate. When compared to other major insurers, this one has the lowest average rates for safe drivers with poor credit, at just $501 annually, or $42 monthly.

Looking for a more affordable car insurance policy? Think about switching to a less major insurance company. MMG and other local insurers offer the lowest auto insurance rates for drivers with driving violations such as a single at-fault accident or a recent DUI. Discounts can be had depending on a wide range of individual circumstances. Find low rate auto insurance by comparing quotes from at least three different providers.