Top 5 Auto Insurance Companies

Finding the right auto insurance company and plan can be daunting. Yet, with over six million accidents happening on U.S. roads every year, it’s incredibly important to have good coverage. From features and deductibles, to cost and discounts, there’s a lot to consider. Search online and read on to discover what options are available to you.

Whether you just bought a new or new-to-you vehicle and need a new policy or your shopping around because you aren’t satisfied with your current one, there’s lot to learn. To help you as you make your decision, here are the best auto insurance companies you should get quotes from.

USAA

Average annual premium for full coverage: $1,255 USD

USAA offers one of the best coverage plans for active and veteran U.S. military members and drivers who have an accident-free driving record. According to the company, USAA beats competitor rates 3 out of 4 times with the available discounts.

Pros

• Industry-best rates
• Defensive basic driver training courses
• Better rates for older members
• Free accident forgiveness coverage after five years without any at-fault accidents

Cons

• No access to online quotes for nonmembers
• No in-person meetings with agents

Discounts

Up to $707 annually for U.S. military members (active and veterans), mileage discounts for driving more, up to 60 percent discounts for cars in storage, and up to a 10 percent discount for signing up under your parents.

Geico

Average annual premium for full coverage: $1,405 USD

Geico is a popular auto insurance company that’s been offering competitive plans for over 75 years. With their standard policies, you get coverage for bodily injury, property damage, and uninsured motorist coverage, plus options for additional coverage like collision, medical and roadside assistance.

Pros

• 97 percent customer satisfaction rate
• Top-notch mobile app
• Local agents with knowledge about unique issues in each area

Cons

• Accident forgiveness available only in certain states
• No gap insurance

Discounts

Numerous discounts are available, including those for military members, federal employees, seniors, and customers with a property insurance policy with Geico.

Allstate

Average annual premium for full coverage: $1,921 USD

One of the best one-stop insurance providers, Allstate, offers highly attractive plans for your home, vehicles and life. They offer reductions for consistently driving at safe speeds, during the safest driving hours, and with minimal hard-braking using their app, Drivewise.

Pros

• 25 percent cash back every six months for drivers with accident-free records
• Training for driving habits that help lower insurance costs
• New car replacement bonus

Cons

• Relatively lower customer satisfaction ratings compared to other companies in this review
• Few discounts

Discounts

Discounts are available for customers with multiple policies who bundle, who are safe drivers and maintain a good grade point average (if you’re a student).

State Farm

Average annual premium for full coverage: $1,457 USD

The largest auto insurance provider in the U.S and one of the oldest, State Farm is one of the most reliable, customer-driven companies in the country. They offer one of the most comprehensive collections of plans that cover classic cars, sports cars, company fleets and more.

Pros

• Over 19,000 agents nationwide providing in-person support
• Easy access to auto repair shops
• Attractive rental car and travel expenses coverage

Cons

• One of the lowest customer satisfaction ratings among companies

Discounts

Offers numerous discounts, including those for six different discounts for safe drivers, young drivers who sign up for Steer Clear and discounts for loyal customers.

Farmers Insurance

Average annual premium for full coverage: $1,635 USD

This company offers a massive collection of coverage plans, from conventional ones that cater to liability, collision, to unique ones like those for ride-shares, and loss of use when your car is under repairs.

Pros:

• Nearly 20 auto coverage add-ons to personalize your plan
• Accident forgiveness that covers for some at-fault accidents
• Excellent customer service and claims handling

Cons:

• Prices are on the high-end

Discounts

For safe driving, Signal program members, app users, and renewals.

You can begin your search for the best auto insurance plan for you with these companies. There are many reputable sites online where you can find out more about available plans, pricing, and customer ratings, but be sure to compare at least three free quotes before making your final decision.