The cheapest car insurance

The most affordable car insurance option is often the minimum coverage required by your state. In many cases, this consists of liability-only coverage, which pays for property damage and medical bills for others involved in accidents caused by you.

We found that the lowest rate for minimum car insurance was an average of $29 per month, or $354 per year. However, your car insurance premiums will vary based on factors such as your state of residence, your driving history, and other personal characteristics. It is important to shop around and compare quotes from multiple insurers to find the best rate for your specific situation.

The cheapest car insurance company overall: Geico

According to NerdWallet’s latest analysis, Geico is the cheapest major auto insurance company in the country for minimum coverage. The company’s average annual rate was $354, or approximately $29 per month. Geico received a 4.5-star rating from NerdWallet and has consistently ranked as a top provider of affordable car insurance. You can read our review of Geico auto insurance to learn more about the company and its offerings.

The cheapest regional car insurance company: Central Insurance

It is not necessary to choose a large insurance company to find affordable car insurance. In fact, smaller insurers such as Central Insurance, MMG, and Secura, which offer coverage in multiple states, may have even lower car insurance rates than Geico. These smaller insurers may be a good option, particularly if they are available in your area, as they often have competitive pricing and excellent customer service. It is worth considering regional and small insurers when shopping for car insurance, as they may offer lower rates than larger carriers.

CompanyAverage annual rateAverage monthly rate
1. Central Insurance$257$21
2. MMG$287$24
3. Secura$319$27
4. Hastings Mutual$428$36
5. Mutual of Enumclaw$499$42

We selected the companies mentioned for our comparison based on their low rates and availability in multiple states. However, it is possible that there may be other affordable car insurance options available in your specific location. For example, some Farm Bureau insurance companies are only available in a single state, but they frequently had some of the lowest rates in our analysis. When shopping for car insurance, it is a good idea to compare quotes from multiple insurers to find the best rate for your needs.

Cheapest car insurance after an accident: Geico

The most affordable car insurance company for you may depend on your driving record. The table below shows average car insurance rates from the largest companies for drivers who have recently been involved in an accident. According to our analysis, Geico has the lowest average rate for drivers with one at-fault accident, at $577 per year, or $48 per month.

CompanyAverage annual rate after one at-fault accident
1. Geico$577
2. State Farm$618
3. Travelers$634
4. American Family$651
5. Nationwide$901
USAA*$535
*USAA auto insurance is available only to military, veterans and their families.

Cheapest car insurance after a DUI: American Family

A DUI conviction can significantly affect the cost of your car insurance. Based on our analysis, American Family is the most affordable car insurance company for drivers with a DUI on their record, with an average annual rate of $716, or $60 per month. It is important to shop around and compare quotes from multiple insurers to find the best rate for your specific situation.

CompanyAverage annual rate after one DUI
1. American Family$716
2. Travelers$754
3. Progressive$755
4. State Farm$839
5. Farmers$905
USAA*$621
*USAA auto insurance is available only to military, veterans and their families.

If you are looking for even lower car insurance rates, you may want to consider a smaller insurer. According to our analysis, drivers with violations such as an at-fault accident or a recent DUI may be able to find the most affordable car insurance rates with MMG and other regional insurers. Keep in mind that car insurance rates can vary based on a number of personal factors, so it is important to compare quotes from at least three insurers to find the cheapest option for you.

Cheapest auto insurance for poor credit: Geico

Your driving record is not the only factor that can impact your car insurance rates. Many insurers also use credit-based insurance scores, which are similar to regular credit scores and take into account factors such as debt and payment history, to help calculate car insurance premiums. This can make it more challenging to find affordable car insurance if you have poor credit in most states. However, in California, Hawaii, Massachusetts, and Michigan, insurance companies are not allowed to use credit scores when determining car insurance rates. It is important to understand how your credit can affect your car insurance premiums and shop around to find the best rate for your specific situation.

Credit can have a significant impact on car insurance costs. On average, drivers with poor credit may pay over $400 more per year for car insurance compared to those with good credit. If you are looking for affordable car insurance from a large company and have poor credit, Geico may be a good option to consider. Based on our analysis of large insurers, the company has the lowest average rates for drivers with good driving records and poor credit, at $501 per year, or $42 per month, on average. It is important to shop around and compare quotes from multiple insurers to find the best rate for your specific situation.

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