Buying or leasing a car is an investment that is worth every level of protection that you can give to the car and thus Car Insurance comes into play here but this is not exactly what you think of it obviously. After buying a car you might get into some mishap such as an accident or even theft and if this happens, your Car Insurance has you covered.
Instead of paying out-of-your-pocket for auto accidents, people pay annual payments to an auto insurance company; the company then pays all or most of the costs associated with an auto accident or other vehicle damage if there happens to be any.
In a Nutshell:
- Car insurance is designed to protect you against financial losses if you’re involved in an sort of mishap or if the vehicle happens to get damaged in any way
- Majority of states in the USA require you to have minimum amounts of liability insurance coverage; some also require you to have other coverage types, such as uninsured motorist coverage.
- Premiums are what you pay monthly, biannually or yearly to maintain a car insurance policy while deductibles are amounts you pay when you file a claim.
- It’s important to shop around for the best car insurance rates to find the right coverage for your vehicle at the right price.
So what the heck is Car Insurance by definition?
Auto insurance is a contract between you and an insurance company that protects you against financial loss in the event of an accident or theft. In exchange for your paying a premium, the insurance company agrees to pay your losses as outlined in your policy.
Auto insurance can offer coverage for:
- Vehicle damages, including your car or another driver’s vehicle
- Property damage or bodily injuries caused by an accident
- Medical bills and/or funeral expenses associated with injuries sustained in an accident
Also it is very important to know that the total or exact details of what your Car Insurance covers is the minimum rewuirements for the state you live and drive your car in. For instance, every state except New Hampshire requires drivers to have a minimum amount of bodily injury liability coverage and property damage liability coverage.
Cheap car insurance
A lot of insurance companies offer car insurance packages that are not quite cheap and it has become a running request by manu people to seek out the companies which are offering their Car insurance services for a cheaper price but also very active too.
How much you pay for car insurance will depend on a number of factors, including your age, claims history and driving record. The company that offers the cheapest car insurance for you can vary depending on the class of driver you fall into.
The Cheapest Car Insurance for Good Drivers: Nationwide USA
Nationwide is the cheapest company for good drivers that is available to the general public. USAA auto insurance is a bit cheaper but only available to those with a military connection.
We found that the national average for good drivers is $2,026 a year. The cheapest companies come in hundreds of dollars below that.
Here are the Cheapest companies
| Company | Average Cost Per Year For Good Drivers | Average Cost Per Month For Good Drivers | Total Savings Per Year Compared To Average |
|---|---|---|---|
|
USAA*
|
$1,364
|
$114
|
$662 cheaper
|
|
Nationwide
|
$1,436
|
$120
|
$590 cheaper
|
|
Travelers
|
$1,521
|
$127
|
$505 cheaper
|
|
Geico
|
$1,597
|
$133
|
$429 cheaper
|
|
Erie
|
$1,642
|
$137
|
$384 cheaper
|
|
Average
|
$2,026
|
$169
|
The Cheapest Car Insurance After a Speeding Ticket: Nationwide
Nationwide happens to offer the cheapest car insurance after a speeding ticket, followed by Erie, Travelers and Geico. USAA is a top choice for people who qualify.
Our analysis found that having a speeding ticket on your driving record means an average insurance increase of 26%.
Our analysis found that having a speeding ticket on your driving record means an average insurance increase of 26%.
| Company | Average Cost Per Year For Drivers With A Speeding Ticket | Average Cost Per Month For Drivers With A Speeding | Total Savings Per Year Compared To Average |
|---|---|---|---|
|
USAA*
|
$1,661
|
$138
|
$872 cheaper
|
|
Nationwide
|
$1,878
|
$157
|
$655 cheaper
|
|
Erie
|
$1,899
|
$158
|
$634 cheaper
|
|
Travelers
|
$2,062
|
$172
|
$471 cheaper
|
|
Geico
|
$2,150
|
$179
|
$383 cheaper
|
|
Average
|
$2,533
|
$211
|
The Cheapest Car Insurance After an Accident Causing Injury: Erie
It appears that Erie and Travelers have the cheapest rates if you have caused an accident that injured someone else. Erie is a regional insurer that serves 12 states in the East and Midwest. USAA offers excellent rates to military members and veterans.
Nationally, the average increase after an accident is 49% compared to a driver with a clean record.
| Company | Average Cost Per Year After An Accident With Injuries | Average Cost Per Month After An Accident With Injuries | Total Savings Per Year Compared To Average |
|---|---|---|---|
|
USAA*
|
$1,958
|
$163
|
$1,051 cheaper
|
|
Erie
|
$2,224
|
$185
|
$785 cheaper
|
|
Travelers
|
$2,293
|
$191
|
$716 cheaper
|
|
Nationwide
|
$2,337
|
$195
|
$672 cheaper
|
|
State Farm
|
$2,428
|
$202
|
$581 cheaper
|
|
Average
|
$3,009
|
$251
|
The Cheapest Car Insurance After a DUI: Progressive
Progressive has the cheapest rates in our analysis for drivers with a DUI, with USAA a good option for military members and veterans who qualify. A DUI conviction leads to an average increase of 71%.
Car insurance companies usually request motor vehicle records before your policy renewal time to check for tickets and convictions such as DUIs.
| Company | Average Cost Per Year For A Driver With One DUI | Average Cost Per Month For A Driver With One DUI | Total Savings Per Year Compared To Average |
|---|---|---|---|
|
Progressive
|
$2,307
|
$192
|
$1,056 cheaper
|
|
USAA*
|
$2,604
|
$217
|
$759 cheaper
|
|
Travelers
|
$2,610
|
$218
|
$753 cheaper
|
|
Erie
|
$2,665
|
$222
|
$698 cheaper
|
|
State Farm
|
$2,716
|
$226
|
$647 cheaper
|
|
Average
|
$3,363
|
$280
|
The Cheapest Car Insurance for People With Bad Credit: Nationwide
Its been proven that Nationwide and Geico have relatively cheap car insurance for drivers with bad credit, among the companies we analyzed. USAA is a good bet for military members and veterans.
| Company | Average Cost Per Year For Drivers With Poor Credit | Average Cost Per Month For Drivers With Poor Credit | Total Savings Per Year Compared To Average |
|---|---|---|---|
|
Nationwide
|
$2,051
|
$171
|
$1,796 cheaper
|
|
USAA*
|
$2,450
|
$204
|
$1,397 cheaper
|
|
Geico
|
$2,482
|
$207
|
$1,365 cheaper
|
|
Travelers
|
$2,699
|
$225
|
$1,148 cheaper
|
|
Progressive
|
$3,221
|
$268
|
$626 cheaper
|
|
Average
|
$3,847
|
$321
|
The Cheapest Car Insurance for Seniors: Nationwide
Nationwide has the best rates for senior drivers ages 65 and 80, according to our analysis. The best car insurance for seniors will vary based on where you live and your personal details, such as your driving record.
We found that senior drivers see an average increase of 6% from age 60 to 70. By age 80, your rates may have increased 23% above the rate you were paying at age 70 and 31% more than your car insurance cost at age 60.
| Company | Average Cost Per Year For Senior Drivers | Average Cost Per Month For Senior Drivers | Total Savings Per Year Compared To Average |
|---|---|---|---|
|
Nationwide
|
$1,402
|
$117
|
$748 cheaper
|
|
USAA*
|
$1,455
|
$121
|
$695 cheaper
|
|
Travelers
|
$1,668
|
$139
|
$482 cheaper
|
|
Geico
|
$1,793
|
$149
|
$357 cheaper
|
|
Auto-Owners
|
$1,813
|
$151
|
$337 cheaper
|
|
Average
|
$2,150
|
$179
|
The Cheapest Car Insurance for Young Drivers: Erie
Erie, Travelers, Geico and Nationwide are the cheapest car insurance companies for young drivers buying their own policies. USAA is also usually a top choice if you qualify.
It’s typically cheaper for a young new driver to remain on a parent’s policy if they’re still living at home, whether they’re an 18-year-old or 25-year-old.
| Company | Average Cost Per Year For Young Drivers | Average Cost Per Month For Young Drivers | Total Savings Per Year Compared To Average |
|---|---|---|---|
|
USAA*
|
$2,368
|
$197
|
$1,336 cheaper
|
|
Erie
|
$2,575
|
$215
|
$1,129 cheaper
|
|
Travelers
|
$2,638
|
$220
|
$1,066 cheaper
|
|
Geico
|
$2,781
|
$232
|
$923 cheaper
|
|
Nationwide
|
$2,881
|
$240
|
$823 cheaper
|
|
Average
|
$3,704
|
$309
|
The Cheapest Car Insurance After Adding a Teen Driver: Nationwide
We found that Nationwide has the lowest rates after a teen driver is added to a parent’s policy. Other cheap companies include Erie, Progressive and Geico. USAA also has low rates for adding a teen if you’re eligible.
It can be hard to find cheap car insurance for teens because young new drivers pose a considerable risk to insurers. We found that adding a teenage driver to a parent’s policy costs $4,362 a year on average.
| Company | Average Cost Per Year To Add A Teen Driver To A Parent’s Policy | Average Cost Per Month To Add A Teen Driver To A Parent’s Policy | Total Savings Per Year Compared To Average |
|---|---|---|---|
|
Nationwide
|
$2,819
|
$235
|
$1,543 cheaper
|
|
USAA*
|
$3,025
|
$252
|
$1,337 cheaper
|
|
Erie
|
$3,215
|
$268
|
$1,147 cheaper
|
|
Progressive
|
$3,864
|
$322
|
$498 cheaper
|
|
Geico
|
$3,866
|
$322
|
$496 cheaper
|
|
Average
|
$4,362
|
$363
|
States With the Cheapest Car Insurance
Vermont is the cheapest state for auto insurance for good drivers. Idaho, Maine, Hawaii and New Hampshire round out the top five. Car insurance rates vary by state due to the different risks and claims made.
| State | Average Annual Cost For Full Coverage | Average Annual Cost For Minimum Coverage |
|---|---|---|
|
Alabama
|
$1,975
|
$578
|
|
Alaska
|
$1,913
|
$518
|
|
Arizona
|
$2,110
|
$708
|
|
Arkansas
|
$2,295
|
$550
|
|
California
|
$2,768
|
$731
|
|
Colorado
|
$2,591
|
$594
|
|
Connecticut
|
$2,252
|
$1,088
|
|
Delaware
|
$2,405
|
$1,107
|
|
Florida
|
$3,865
|
$1,529
|
Car insurance quotes
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Compare car insurance quotes in usa
Now we do know that not every Car Insurance company gives the same quote for the same car and this is examplarily true for many cases, so for an affordable car insurance or cheap car insurance quotes as we have talked about, we have deviced a means to help you take on all of the quotes from different car Insurance companies and choose the best one for you and stick with it in the best way possible
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Click here to compare Car Insurance Quotes
What is Full Coverage Car insurance
I know you might not know exactly what Full coverage Car insurance is and I am here to clear this doubt if there is any.
Full coverage car insurance is protection that includes collision, comprehensive, and liability coverage. Often, you can supplement your insurance with uninsured motorist coverage, personal injury protection, medical payments, gap insurance, and other coverage options.