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With these 10 cheap car insurance you can maintain this essential service to provide security to your family and generate savings, which is important in these inflationary times.
The goal of auto insurance is to provide financial security for you and everyone who drives alongside you on the road. Accidents can happen at any time, but it is your duty to always be prepared for any eventuality.
Of course, just because auto insurance is mandatory in the US doesn’t mean you should select the most expensive one. According to the most recent data from the Insurance Information Institute, the average annual cost of auto insurance is $1,070.57, a figure that increases year after year. Faced with an economic slowdown, or, in the worst case, a recession, it is normal to look for alternatives that allow services to be maintained while expenses are reduced.
With this scenario in mind, at TakeCareOfMoney we have prepared a list of the 10 cheapest car insurance in the United States.
One of the largest insurance companies in the United States. According to NerdWallet, they are primarily known for offering hedging at low prices.
Geico also offers a variety of discounts. In order to opt for one of them, you must meet one of the following conditions (although they may vary from state to state):
- Having a vehicle with safety equipment, such as air bags or an anti-theft system.
- Have a vehicle that has been assembled in the last three years.
- Have driven for five years without accidents.
- Complete a defensive driving course.
- Have good grades if you are a student.
- Insure more than one vehicle with Geico.
A Geico minimum policy, that is, having only the minimum liability coverage, can cost as much as $354 per year. However, the average price increases when you purchase other plans, such as medical payments coverage, personal accident protection or collision.
This insurer offers a large number of discounts on policy rates, among which are:
- Drive Safe & Save : a program where you can get a discount on your car insurance of up to 30%, depending on how you drive. According to the information provided by the company on its website, this program does not take into account violations or accidents, but instead collects actual miles driven and basic driving characteristics to calculate the discount.
- Steer Clear : To qualify for this discount, you must be under the age of 25, have a valid driver’s license, and have no moving violations or at-fault accidents in the past three years. By completing the program requirements, you can earn up to a 15% policy discount.
Similarly, students with good grades can opt for discounts that allow them to save up to 25% of the policy.
According to Nerdwallet, the cost for State Farm’s minimum annual car insurance is about $452.
The third largest insurance company in the United States, founded in 1937, and a common company in all auto insurance listings in the country. With 27 million customers, they say everyone who has switched to Progressive has saved at least $700 a year. This is confirmed by the company itself based on surveys carried out on customers who decided to insure Progressive between June 2020 and May 2021.
As a particularity, the amounts of the policies are usually much higher if they are for adolescents.
The Snapshot program offered by this company offers discounts, on average, of $146 for good vehicle handling.
A minimum coverage in Progressive has an approximate cost of $619.
This insurer is the seventh largest in the United States, and its value lies in the multiple policy options, in order to adjust them to the interest of the consumer.
This company also offers coverage for various scenarios such as the total loss of a new car, which implies that if the lost vehicle is only two years old and has 24,000 miles of use, it is replaced with a new vehicle.
To the standard discounts of these companies, Farmers adds discounts for vehicle and home insurance packages.
A minimum Farmers coverage can cost as much as $620.
While Allstate policies are typically more expensive than the national average, Allstate often adds value to your proposition through a streamlined claims system and easy access to customer service.
Allstate’s minimum policy has an average price of $666, and, like all policies, its price is subject to increase according to the driver’s profile.
“Yes, you can have affordable auto insurance and unparalleled protection,”” says Nationwide. It is one of the companies with the cheapest minimum policy, up to $573 per year.
This company has offers to establish policies based on driving habits, among which are:
- SmartRide: Which involves the use of an application or the installation of a device that collects information about your driving. Discounts for safe driving can be as high as 40%.
- SmartMiles: With this program, you can get up to a 10% discount if your mileage is reduced. However, it should be noted that this program is not available in Alaska, California, Hawaii, Louisiana, Massachusetts, North Carolina, New York, and Oklahoma.
Another of the large insurance companies in the United States, whose attractions are a low number of complaints in relation to the size of the company; multiple coverage options depending on needs and low rates.
Customer service seems to be slightly below the national average in quality, but it makes up for it with rates that are also below the country’s average.
Travelers minimum coverage is approximately $472 per year.
For over a hundred years, Auto-Owners has offered insurance policies to American consumers. It is a company that offers multiple products in addition to car insurance, and it can be a good option if you are looking for a classic company in which to trust your security.
Among the various discounts that you can get at Auto-Owner is a particular one: a discount if you manage to pay all the coverage fees on time for 36 months.
By having a large number of products, such as home insurance, they also offer discounts for insurance packages for various goods.
The price for a minimum coverage in Auto-Owners is $333.
American Family Company is the ninth largest insurer in the United States. According to NerdWallet, for the size of its clientele, it has a relatively low number of complaints, denoting a good overall quality of service.
Like other companies, American Family has a pay-per-mile program, known as KnowYourDrive, which monitors your driving habits in order to offer discounts of up to 20% on policies.
A minimum American Family policy can cost up to $573.
It’s not the largest insurer, but it is perhaps the oldest in the United States. Founded in 1907, Amica is a stable company that offers one of the cheapest policies in the country.
The minimum policy offered by Amica can cost $504. However, the most interesting thing about this company is its dividend policy, which can make your coverage go up a bit in price, in exchange for receiving payments of between 5% and 20% of the annual fee.
Of course, the key to this policy is to keep the policy payments up to date, because that way, you can guarantee minimal benefits.
What to keep in mind when choosing a policy
We have shown you here the lowest prices in terms of minimum insurance policies, which are the minimum requirements by state to be able to drive.
However, it should be remembered that these requirements can vary from state to state, so it is best to find out about the insurance requirements in your area in order to avoid problems.
In the same way, the simplest policy is not always the one that best suits your interests. In addition to liability coverage, which covers injury, death, or property damage in accidents you caused, it’s prudent to review other coverages.
For example, coverage for accidents involving drivers who do not have insurance ; Collision coverage or comprehensive coverage, which is responsible for costing damage to your vehicle due to weather, accidents with animals or vandalism.