Which One Is The Cheapest Auto Insurance
Which One Is The Cheapest Auto Insurance – Andrew Hurst Andrew Hurst Senior Editor and Certified Motor Insurance Specialist Andrew Hurst is Senior Editor and Certified Motor Insurance Specialist. His work has also been featured in the New York Times, Wall Street Journal, Forbes, USA Today, NPR, Mic, Insurance Business Magazine, ValuePenguin and Property Casualty 360.
Anna Swartz Anna Swartz Senior Editor and Auto Insurance Expert Anna Swartz is a senior editor and auto insurance expert and oversees our auto insurance coverage. Previously, he was a senior staff writer at Mic.com and a contributing writer at The Dodo.
Which One Is The Cheapest Auto Insurance
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GEICO offers the cheapest liability-only auto insurance for most drivers who want minimum coverage (that is, the minimum amount of coverage required by law). I understand. Car owner has the cheapest liability insurance overall, but it is not available in every state.
A liability insurance policy is one that does not include comprehensive or collision coverage. Liability insurance only covers damage caused to others in an accident, not damage to your own car.
We analyzed rate data for every zip code in the country to find the companies that offer the cheapest liability insurance. These values are provided by Quadrant Information Services.
The percentages we have analyzed refer to minimum coverage insurance according to the insurance requirements of each state. The rates in this study reflect the minimum amount of insurance you can have while you are legally able to drive, but it is also possible to purchase liability-only insurance that exceeds your state’s minimum coverage limits.
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Overall average prices, prices by postcode and cheapest company are calculated based on the average for 30-year-old single drivers. Our sample vehicle is a 2017 Toyota Camry LE with 10,000 annual miles.
To find out the cost of third party liability insurance after an accident, we calculated each company’s average increase in premiums relative to the full coverage rate. We then applied this percentage change to the average cost of liability insurance for the same companies.
Some businesses may be represented by subsidiaries or affiliates. The prices shown are examples of costs. Actual estimates may vary.
Liability-only car insurance costs an average of $51 per month (or $617 per year), but some companies have lower-than-average premiums.
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We have found the cheapest specialist car insurance to be Car Owners Insurance. On average, a homeowner’s liability auto insurance policy costs $27 per month or $327 per year.
Drivers can also get the cheapest insurance from small companies like MAPFRE and Erie, or from USAA, which only provides insurance to military drivers. However, these companies are not available to everyone, so GEICO is the cheapest liability insurance for most people.
Ranking Methodology: Rankings are determined by the editorial team. Our methodology takes into account many factors, including price, financial evaluations, quality of customer service and other product characteristics.
GEICO offers the best rates on liability insurance of any company available nationwide. GEICO serves all states and Washington, DC, so drivers can get a quote from GEICO no matter where they are.
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GEICO is the cheapest liability insurance company available nationwide. This is the only Top Choice company available in every state.
GEICO liability-only auto insurance costs an average of $34 per month ($402 per year). That’s $215 less per year than the average. It’s also only $35 more per year than the cheapest liability insurance company.
GEICO also has various discounts that drivers can take advantage of to get even lower fares. You can save money on your GEICO policy if you:
Although not available in every state, car owners have the cheapest liability insurance overall. However, if you live in one of the 26 states where Car Owner offers coverage, you may be able to get liability coverage for less than $30 a month.
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Car Owner offers the cheapest specialist car insurance of any company on our list. On average, minimum coverage for just one car owner costs $27 per month ($327 per year). That’s $290 less per year than the national average.
Car owners buy cheap liability insurance, but this insurance is not available everywhere. Car Owner only offers auto insurance in 26 states and does not offer coverage in California, New York, or Texas.
USAA offers the lowest rates for liability-only insurance, but this coverage is only available to active military and veterans and their families. In addition to low interest rates, USAA boasts some of the highest charge satisfaction rates in the industry.
Military drivers (and their families) can get affordable US car insurance. We found that the average cost of a USAA liability insurance policy is $31 per month ($369 per year). That’s $248 less per year than the national average.
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In addition to offering great prices on liability insurance for military families, USAA offers many discounts that drivers can take advantage of to keep costs down. You can get a discount from USAA if:
USAA also provides excellent customer service. USAA ranked at or near the top in the J.D. Auto Claims Satisfaction Survey. Year-over-year improvements mean customers feel secure in USAA’s claims process. [1]
Even though your rates will go up after an accident, you can still get cheap liability-only car insurance from State Farm. Unlike other companies that offer cheap insurance for drivers who have been in an accident, State Farm is available in almost every state.
State Farm offers some of the cheapest liability-only auto insurance for people with recent accidents on their driving records. On average, State Farm liability insurance alone costs $49 a month ($585 a year) if you’re in an at-fault accident.
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State Farm’s liability insurance costs alone were found to be $331 less per year than the post-accident average. There are several companies that offer slightly lower rates for high-risk drivers, but none are as widely available as State Farm.
While State Farm doesn’t offer as many discounts as its competitors, it does offer some savings opportunities to drivers who:
The cost of liability-only car insurance varies greatly depending on where you live. In some states, the difference between the cheapest insurance company and the average premium can be hundreds or even thousands of dollars per year.
We found that the cheapest companies at the state level were GEICO and USAA, with 32 states combined having the highest rates for liability insurance alone.
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The cheapest car insurance companies vary greatly depending on where you live, so it’s even more important to compare quotes from the best companies before buying insurance.
Liability only insurance is usually cheaper than full coverage insurance (full coverage and collision coverage), but it is still possible to find cheap liability insurance.
The best way to find the cheapest specialist car insurance is to compare quotes from several companies before buying. This way, you will quickly find out who offers the cheapest liability insurance. You can also buy cheap liability car insurance in the following ways:
Liability insurance only covers the other driver’s medical and repair costs after an at-fault accident. The insurance will cover you up to a limit, which is usually quoted per person, per accident.
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This means that your personal injury liability insurance will cover up to $25,000 for injuries to the other driver and their passengers. However, you will only be compensated for up to $50,000 for the entire accident.
Liability insurance alone will not cover damage to your car after an accident you cause. That’s where full coverage policies come into play. Without collision and comprehensive coverage, if your car is damaged in an accident, you will end up replacing it at your own expense.
It can be tempting to buy only liability insurance rather than full coverage. Liability insurance alone costs an average of $1,035 less per year than the cost of full coverage insurance. However, most drivers require full coverage insurance.
Liability insurance alone will not cover damage to your car caused by an accident you caused. Injury to others and property damage will be covered within your insurance limits, but you will need to repair (or replace) your own car.
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In some cases, it makes sense to only take out liability insurance, so it may be better to cancel full coverage if:
Even if you only have liability insurance, you should get more than the minimum amount required by your state. Adding liability insurance isn’t very expensive, so you should get what you can afford, even if you don’t have full coverage.
The cost of damages and injuries to others after an accident can easily exceed your state’s minimum liability limits. If you have enough insurance to drive, you could easily end up paying tens of thousands of dollars out of pocket.
When purchasing liability-only car insurance, it’s important to choose the highest level of coverage possible. If you do not have sufficient liability insurance to cover damages caused by an accident,
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