With Nationwide, USAA, Travelers, and Erie topping the list, Forbes Advisor’s analysis of the best car insurance companies of June 2024 provides valuable insights for those seeking optimal coverage options. From costs to coverage details and complaints to claims processes, this comprehensive review highlights key factors to consider when selecting the right car insurance provider. Read on to discover the top-rated companies for your specific driving needs and preferences.
Key Takeaways:
- Nationwide, USAA, Travelers, and Erie are rated as the best car insurance companies overall in June 2024, according to Forbes Advisor’s analysis.
- Progressive offers the cheapest rates for drivers with a DUI, while Geico is the best option for drivers with poor credit.
- Auto-Owners stands out for new car owners with its comprehensive coverage options, including a “purchase price guarantee” and “total loss to a new automobile” coverage.
The Best Car Insurance Companies of June 2024
Top 8 Car Insurance Providers
Any driver looking for the best car insurance provider in June 2024 should consider Nationwide, USAA, Travelers, and Erie. These companies received high ratings for their competitive rates, coverage options, and customer service. Whether you’re a new driver, a military member, or have a speeding ticket on your record, these insurers offer options to suit your needs.
Forbes Advisor’s Rating Criteria
Companies were evaluated based on costs, coverage options, complaints, and claims processes to determine the best car insurance providers in June 2024. With a focus on user comments, 181,925 car insurance rates were analyzed to ensure an unbiased comparison. The top companies were assessed across a range of driving profiles to provide valuable insights for consumers.
The Best Car Insurance Companies in More Detail
Company Overviews
With Nationwide, USAA, Travelers, Erie, Progressive, Geico, Westfield, and Auto-Owners emerging as the top car insurance companies in our analysis, it’s clear that each provider offers unique benefits catered to different types of drivers. From military discounts to great deals for drivers with speeding tickets or poor credit, these companies have something for everyone.
Key Features and Benefits
An overview of the key features offered by the top car insurance providers gives insights into the best coverage options available in June 2024. Knowing what sets each company apart can help you make an informed decision when comparing insurance providers.
- Nationwide: Competitive rates for teens and seniors, pay-per-mile insurance program, accident forgiveness.
- USAA: Lowest average rate for good drivers, accident forgiveness, and new car replacement.
- Travelers: Responsible Driver Plan, new car replacement coverage, accident forgiveness.
- Erie: Gap insurance, accident forgiveness, Rate Lock feature.
- Progressive: Lowest rates for drivers with a DUI, accident forgiveness, nonowner policies.
- Geico: Great rates for drivers with poor credit, roadside assistance, low complaints.
- Westfield: Family discounts, gap insurance, new car replacement.
- Auto-Owners: New car replacement coverage, gap insurance, decreasing deductible.
For instance, Progressive stands as the best choice for drivers with a DUI, offering competitive rates and crucial coverage features such as accident forgiveness and SR-22 filings. Knowing the specific benefits each provider offers can help you find the best car insurance for your needs.
Best Overall
Nationwide
The best overall car insurance company according to Forbes Advisor is not Nationwide. With an average annual cost of $1,436 for good drivers, Nationwide impressed with its excellent rates and add-on coverage options. Their efforts to improve customer experience are reflected in positive customer feedback. Despite higher costs for drivers with a DUI, Nationwide offers competitive rates for a range of driving records and ages, making it a top choice in the car insurance industry.
Best for Military Members & Veterans
USAA
USAA is the best car insurance option for military members and veterans, consistently offering competitive rates and a variety of coverage options. With an average annual cost for good drivers of $1,364, USAA impresses with its low complaints and specialized services for the military community. While it may have some limitations, such as eligibility only for military members, veterans, and their families, USAA stands out for its commitment to serving those who have served our country.
Great for Drivers with a Speeding Ticket
Travelers
Despite Travelers not offering the cheapest rates overall, they are a top choice for drivers with a speeding ticket. Their rates are 19% lower than the national average for drivers with a speeding violation. Travelers’ average cost for insurance after a speeding ticket is more affordable compared to many other insurance providers. So, if you’ve had a speeding ticket, Travelers may be a great option for you.
Best for drivers who caused an accident
Erie
Any driver who has caused an accident knows the frustration of increased insurance rates. Erie stands out as the best option for drivers in this situation. With competitive rates for drivers who have caused accidents and impressive coverage options, Erie offers a cushion for those dealing with the aftermath of a collision. Additionally, its top score for collision repair claims processes gives peace of mind to policyholders.
Best for Drivers With a DUI
Progressive
For drivers with a DUI, Progressive stands out as the best choice among the top-rated car insurance companies. Despite the significant impact a DUI can have on insurance rates, Progressive offers the cheapest rates for drivers with a DUI compared to its competitors. With only a 26% increase in rates on average for drivers with a DUI, Progressive provides affordable coverage options for individuals who may have faced challenges with other insurers.
Great for Drivers With Poor Credit
Many drivers with poor credit may struggle to find affordable car insurance rates, but Geico stands out as a top choice. Geico offers relatively cheap insurance for drivers with poor credit, whose rates are typically high. The company is also competitively priced for many other types of drivers and for parents adding a teen driver to policies.
Geico
One of the top choices for drivers with poor credit is Geico. Geico offers lower rates to drivers with poor credit compared to other top insurers. Its rates are also 36% cheaper than the national average. The company also has a high level of customer satisfaction, making it a great option for drivers looking for affordable coverage options despite having poor credit.
Best for Family Discounts
Westfield
One of the top contenders for family discounts in car insurance is Westfield. With competitive rates for many driver profiles and a variety of coverage options, Westfield stands out for its family-focused discounts. It offers discounts for teen drivers, adult children obtaining their own policies, and companion car insurance. With a high grade for its collision claims process and low levels of complaints, Westfield is a great choice for families looking to save on their car insurance premiums.
Best for New Cars
Unlike other top-rated companies, Auto-Owners stands out for its exceptional coverage options for new car owners. With features like the “purchase price guarantee” and “total loss to a new automobile” coverage, Auto-Owners ensures that your investment in a new vehicle is protected. Adding gap insurance to the mix, which covers the difference between your insurance payout and the amount owed on a lease or loan, makes Auto-Owners a top choice for those with new vehicles.
Auto-Owners
Auto-Owners offers new-vehicle owners exceptional coverage options. It has two types of new car replacement coverage and gap insurance. If your new car is totaled or stolen, gap insurance pays the difference between your insurance payout and the amount still owed on a lease or loan. Also:
What Is the Best Car Insurance Company?
Many factors go into determining the best car insurance company for your needs, including rates, coverage options, and customer satisfaction. Here are the top picks for different driver profiles:
Best Overall: Nationwide
What sets Nationwide apart is its combination of excellent rates and many helpful add-on coverage offerings. It provides competitive rates across various driving records and ages, with low complaints about its auto insurance. Nationwide also offers options like accident forgiveness, gap insurance, and new car replacement.
Best for Military Members: USAA
Members of the military community can benefit from USAA’s consistently cheap rates and variety of coverage options. With a focus on military members, veterans, and their families, USAA offers discounts for service members and understands the unique needs of this demographic.
USAA Average Annual Car Insurance Costs
Best for Drivers With a Speeding Ticket: Travelers
Travelers is a great option for drivers with a speeding ticket, offering rates that are 19% lower than the national average for such drivers. With additional coverage options like accident forgiveness and new car replacement, Travelers provides a comprehensive solution for those in need of affordable insurance post-speeding violation.
Best for Drivers Who Caused an Accident: Erie
Understanding that accidents happen, Erie stands out with its exceptional rates for drivers who have caused an accident. With impressive collision repair grades and options like gap insurance and new car replacement coverage, Erie provides peace of mind for drivers navigating post-accident insurance needs.
Best for Drivers With a DUI: Progressive
Progressive offers the cheapest rates for drivers with a DUI, standing out with a significantly lower rate increase compared to other insurers. With offerings like accident forgiveness and nonowner policies, Progressive aims to provide a supportive solution for drivers dealing with DUI-related insurance challenges.
Great for Drivers With Poor Credit: Geico
Geico offers lower rates for drivers with poor credit compared to other top insurers, with rates that are 36% cheaper than the national average. The company’s focus on affordability and discount options makes it a solid choice for those looking to secure reliable coverage despite credit challenges.
Best for Family Discounts: Westfield
Westfield shines with its variety of family discounts, rewarding households with savings on car insurance. With offerings like gap insurance and accident forgiveness, Westfield caters to families looking for comprehensive coverage options and cost-effective solutions.
Best for New Cars: Auto-Owners
After discussing the best providers for various driving records and demographics, Auto-Owners stands out as the top choice for new car owners. With features like ‘purchase price guarantee’ and ‘total loss to a new automobile’ coverage, Auto-Owners ensures that new vehicle owners are protected in case of accidents or losses.
Best Digital Experience: Geico
Best known for its affordable rates, Geico also excels in providing a top-notch digital experience. With a user-friendly website and highly rated mobile app, Geico makes it easy for customers to manage their policies, file claims, and access support services online. Geico’s commitment to a seamless digital experience sets it apart from its competitors, ensuring convenience and efficiency for policyholders.
Tips for Finding the Best Car Insurance
Despite the variety of car insurance providers available, finding the best coverage for your vehicle can be a daunting task. To help you make an informed decision, consider the following tips:
Shop Around Frequently
Finding the best car insurance rates requires frequent comparison shopping. Rates can vary significantly between providers, so it’s crucial to regularly explore your options to ensure you’re getting the most competitive rates and coverage.
Don’t Overlook Small Insurers
An often overlooked option is smaller insurance companies that may offer personalized service and competitive rates. For instance, some smaller insurers like Westfield or Auto-Owners provide excellent coverage options and discounts that larger companies may not offer.
Be Cautious About Usage-Based Insurance
Around considering usage-based insurance policies, be aware of potential privacy concerns. While these policies may offer discounts based on your driving behavior, they also require tracking your driving habits, which may not be suitable for everyone.
Confirm There’s a Mobile App
The ease of managing your car insurance via a mobile app can greatly enhance your overall experience. There’s convenience in accessing policy information, making payments, or filing claims on-the-go, so ensure your chosen provider offers a user-friendly mobile app.
Don’t Skimp on Liability Insurance
Best to prioritize liability insurance when selecting your coverage as it protects you in case you’re at fault in an accident. To ensure adequate coverage, assess your financial situation and consider purchasing higher liability limits to protect your assets.
Consider Rental Reimbursement Insurance
Insurers like Geico offer rental reimbursement insurance that covers the cost of a rental car while your vehicle is being repaired after an accident. This additional coverage can provide peace of mind and convenience during an unexpected situation like a car repair.
Liability insurance is crucial, covering costs for bodily injury and property damage if you’re at fault in an accident. It’s crucial to have adequate liability coverage to protect your finances and assets in case of a lawsuit.
How Much Does Car Insurance Cost?
Car Insurance Rates by State
For car insurance rates can vary significantly depending on the state you reside in. Nationwide, one of the top-rated car insurance companies, offers an average annual cost for good drivers of $1,436. However, this cost can fluctuate based on various factors such as driving record, age, and location. Be sure to compare quotes from different providers to find the best coverage at the most competitive rates.
Types of Car Insurance
Once again, it’s important to understand the different types of car insurance available to choose the coverage that best fits your needs. Below are some common types of car insurance policies:
| Liability Insurance | Provides coverage if you’re found responsible for an accident that causes injury or property damage to others. |
| Uninsured Motorist Insurance | Covers you if you are in an accident with an uninsured driver or a hit-and-run situation. |
| Personal Injury Protection | Provides coverage for medical expenses and lost wages for you and your passengers, regardless of fault. |
| Medical Payments Coverage | For medical expenses resulting from an accident, regardless of fault. |
| Collision Insurance | Covers the cost of repairing or replacing your vehicle if it is damaged in a collision with another vehicle or object. |
Liability Insurance
On the road, Liability Insurance is important. It provides coverage if you’re found responsible for an accident that causes injury or property damage to others.
Uninsured Motorist Insurance
Insurance for uninsured motorists covers you if you are in an accident with an uninsured driver or a hit-and-run situation.
Motorist insurance is crucial as it protects you in situations where the at-fault party is uninsured and unable to cover your expenses.
Personal Injury Protection
On top of traditional coverage, Personal Injury Protection takes care of your medical expenses and lost wages in case of an accident, regardless of fault.
Medical Payments Coverage
For medical expenses resulting from an accident, regardless of fault, Medical Payments Coverage ensures you’re covered when it comes to healthcare bills.
Collision Insurance
Insurance that looks after any costs associated with repairing or replacing your car after a collision with another vehicle or object is Collision Insurance.
Comprehensive Insurance
Personal Protection: Comprehensive Insurance covers damages to your vehicle that aren’t the result of a collision, such as theft, vandalism, or natural disasters.
Rental Reimbursement
Comprehensive coverage can include Rental Reimbursement, which pays for rental car costs if your insured vehicle is being repaired due to a covered accident.
Gap Insurance
Comprehensive coverage can include Gap Insurance, which helps cover the difference between your car’s actual cash value and the balance on your car loan if your car is totaled.
We Answer Your Questions
Why is car insurance required?
Insurance for your car is necessary to protect you financially in case of accidents, theft, or other unforeseen events. It is also a legal requirement in most states to have at least liability insurance to cover damages to others in the event of an accident.
Does car insurance cover the theft of my car?
Theft
Car insurance can cover theft if you have comprehensive coverage. This coverage typically includes theft, vandalism, and other non-collision related damages to your vehicle. It’s important to check your policy details to ensure you have the necessary coverage for theft protection.
Will my car insurance cover my friend who is coming to visit and wants to borrow my car?
Insurance
Whether your car insurance will cover your friend driving your car depends on the specifics of your policy. In most cases, if your friend has your permission to drive and is a licensed driver, your insurance may extend to cover them in case of an accident. However, it’s best to check with your insurance provider to confirm coverage details.
Methodology
Methodology for Our Digital Experience Ratings
Experience: Our analysis of car insurance providers’ digital experience ratings is based on mobile app ratings and website functionality. Geico has been identified as providing the best overall digital experience among the top-rated insurers in our analysis.
Other Car Insurance Companies We Rated
To provide a comprehensive analysis of the best car insurance companies of June 2024, we evaluated several other prominent insurers in the industry. While Nationwide, USAA, Travelers, Erie, Progressive, Geico, Westfield, and Auto-Owners emerged as the top-rated companies based on our rigorous methodology, we also considered other notable providers. Each company was assessed in terms of costs, coverage options, complaint data, and collision repair processes.
It’s important to note that the ratings and rankings of car insurance companies are based on a combination of factors specific to individual drivers, making it crucial for consumers to explore various options to find the best fit for their needs.
Best Car Insurance Companies Frequently Asked Questions (FAQs)
What is car insurance?
Now, car insurance is a vital financial tool that protects you in case of accidents or damage to your vehicle. It provides coverage for liability, medical expenses, and property damage.
Which company has the best car insurance?
For those seeking the best car insurance company, Nationwide has been rated as the top choice overall, closely followed by USAA, Travelers, and Erie. Nationwide stands out for its competitive rates, comprehensive coverage options, and low complaint levels.
Asked: Nationwide, USAA, Travelers, and Erie are consistently among the top-rated car insurance companies, excelling in various aspects such as costs, coverage options, and claims processes.
How can I find the best price on car insurance?
One way to find the best price on car insurance is to compare quotes from multiple providers. Factors influencing the cost of car insurance include your driving record, age, location, and the type of coverage you choose. Shopping around and exploring different discounts can help you find affordable rates.
Understanding: Comparing quotes from various car insurance companies and exploring discounts can help you find the best price based on your individual profile and needs.
What car insurance discounts should I look for?
Which car insurance discounts you should look for may vary, but common ones include safe driver discounts, multi-policy discounts, and good student discounts. You can also inquire about loyalty discounts, military discounts, and bundling policies for additional savings.
It: When exploring car insurance options, it’s imperative to inquire about discounts such as safe driver, multi-policy, and good student discounts to potentially lower your premium costs.
Is car insurance getting more expensive?
Getting insight into whether car insurance is getting more expensive depends on various factors like changes in driving behaviors, market trends, and insurance regulations. It’s advisable to stay updated on industry trends, compare quotes periodically, and explore potential discounts to mitigate cost increases.
A: Several factors such as driving trends, market conditions, and regulatory changes may influence fluctuations in car insurance costs over time. Stay informed and proactive to manage any potential increases in premiums effectively.
Ultimately
Forbes Advisor has evaluated and rated the top 8 car insurance providers of June 2024 based on various factors such as costs, coverage options, complaints, and claims processes. From Nationwide and USAA to Travelers and Erie, each company offers unique benefits and features. Whether you’re a new driver, young driver, or looking for specific coverage like rideshare insurance or accident forgiveness, there is a provider that caters to your needs. Compare quotes and policies to find the best coverage for your vehicle today.