There are thousands of car insurance companies, but only a few major players dominate the market. Bankrate's Insurance Editorial Team looked at all the available coverage options and discounts. It also assessed customer service scores and financial strength ratings. Each company was then assigned a Bankrate Score. This score is a number out of 5.0 and represents how well it performed in each of the individual scoring categories.
Geico
Geico is a great choice for those who are looking for affordable car insurance. They have very low rates and do not use insurance agents. DriveEasy also offers a telematics service called DriveEasy that analyzes your driving habits. If you drive safely and reduce your mileage, Geico will lower your rates.
Geico offers many discounts, including multipolicy and multivehicle discounts. You can save 25% on multiple-vehicle policies. You can also combine your auto and home policies with Geico for a bigger discount.
State Farm
State Farm Car Insurance Co is a collection of mutual insurance firms that have branches all over the United States. The corporate headquarters of the company is in Bloomington, Illinois. The group has more than 5,000 employees and offers car insurance to individuals, families, and businesses. They offer many coverage options to fit every budget.
Rates for State Farm car insurance vary widely depending on the region, the age of the driver, and the type of coverage the driver is looking for. However, there are many discounts available that drivers should consider. Drivers who have not been involved in an accident within the last five years are eligible for moderate discounts. Drivers who have been free from accidents for less than one year can take a defensive driving class to get modest savings. Drivers can also take advantage of State Farm's Steer Clear program, which includes a course and driving practice. This program is offered across the United States, except in California and Rhode Island.
Progressive
Progressive insurance has been in business since 1975. It is the third-largest auto insurance provider in the country, and it is also the number one commercial car insurer. Jack Green and Joseph M. Lewis established the company in 1937. They have their headquarters in Mayfield Village. It provides insurance for all types of vehicles including cars, trucks, and motorcycles.
The company offers discounts and savings. With the name your price tool available on the Progressive website, customers can select the monthly payment that suits them best. It will then recommend coverage based on their budget. Snapshot, a Telematics program, also monitors driving habits and adjusts insurance rates accordingly. This technology has been found to reduce insurance costs by an average of $146 per year. However, drivers should be aware that this technology can also increase their premiums if they are involved in a high-risk accident.
USAA
USAA insurance covers your car against theft and damage. The auto insurance company also offers roadside assistance and tire changing services. You can also get rental car reimbursement depending on your coverage. USAA claims that this service can save consumers up to 30% on their auto insurance.
The application process is simple and can be completed online or over the phone. Online applications are faster than offline ones. However, if in doubt, you can call the company to speak with a representative. To ensure you are eligible, the agent may ask you questions about both your insurance needs as well as your car information.
Travelers
You have many options for travel insurance. Standard insurance, Premier New-Car Replacement, and two Accident Forgiveness Plans are available. The latter covers the difference of the actual cash value of the car and the remaining loan amount. It is however more expensive than barebones insurance.
Good drivers get discounts from Travelers. You can get an 8% discount if you own more than one vehicle. Additionally, if you pay the bill on time, you may get a 3-10% discount. A discount is also available if you haven't made any claims in the last five year.