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The best auto insurance companies are State Farm, USAA, Geico, Erie and Travelers based on cost, coverage, reputation, availability and service

Us Car Insurance Company

Choosing the best car insurance provider for you can be intimidating. That’s why we at the Guides Auto team have done the legwork for you. In this article, we narrow down the top 10 car insurance companies in the industry and provide detailed reviews of the five best car insurance providers.

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Why trust our team The Guides Auto Team is committed to providing reliable information to help you make the best possible decision about your car insurance. Our researchers, writers and editors are dedicated to researching providers and analyzing customer feedback and insights so you can choose with confidence.

After thoroughly researching the car insurance market and evaluating each company’s reputation, availability, coverage options, discounts and customer experience, 10 companies stood out among the competition as the best car insurance providers.

When ranking these insurers, our team looked at state availability, breadth of coverage, prices and satisfaction scores from experts like J.D. Power.

We also considered AM Best’s financial strength ratings and complaint volume as reported by the National Association of Insurance Commissioners (NAIC). Each insurer was rated on a 10-point scale.

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Our top five picks for the best auto insurance are State Farm, USAA, Geico, Erie and Travelers. In the sections below, we provide a more detailed assessment of each of these providers:

Pros Wide selection of coverage options Offers discounts for different types of drivers Average prices for full coverage are about 14% cheaper than the national average Score 4.2 out of 5.0 for overall satisfaction in our car insurance customer survey.

Our cost estimates show that good drivers pay an average of about $1,481 per year for full coverage insurance with State Farm. This ranks State Farm among the most affordable national providers.

State Farm is another strong choice when it comes to finding the best auto insurance in the industry. Our January 2022 insurance survey found the insurer to be the most popular provider among the 1,000 respondents surveyed, with 13% saying they purchased State Farm insurance.

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As the largest auto insurance company in the country, State Farm is no stranger to claiming satisfaction—the company has an A++ financial strength rating from AM Best. According to the NAIC, State Farm accounted for 16.01% of the auto insurance market share in 2021. State Farm also had fewer complaints than the industry average in 2020, although customer reviews on the BBB are mixed.

We voted State Farm as one of the nation’s best car insurance companies, in part because of the usage-based and safe driving discounts it offers to young drivers. There are two discount programs available via mobile apps:

Other State Farm auto insurance discounts include those for good grades, safe driving, defensive driving, vehicle safety features and driving course completion. The company does not offer military discounts.

Benefits Affordable rates High performance at J.D. Power Client Surveys Highly rated mobile app A++ financial rating Cons Not available to everyone SafePilot only available in 25 states Not the cheapest option after a DUI

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USAA is known for its affordability. It offers the cheapest car insurance on average compared to any other provider we investigated. Our rate estimates show that good drivers pay an average of about $1,054 per year for full coverage auto insurance with USAA. The company also offers discounts based on driver safety, multiple policies, safety features like airbags and more.

USAA is our second choice for the best car insurance in the nation. It regularly tops JD Power auto insurance studies as one of the best providers in terms of customer satisfaction and value. The company is known for its high customer ratings and affordable coverage options, including accident waivers. However, it has strict eligibility requirements and not everyone is eligible for coverage.

USAA auto insurance is only available to military members, veterans and their families, which severely limits who can purchase coverage. If you are eligible for a USAA insurance policy, it is one of the best options available. In addition to the standard types of auto insurance, USAA offers the following optional coverage:

USAA received an A++ financial strength rating from AM Best and an A+ rating from the Better Business Bureau (BBB). The auto insurer accounted for 6.04% of the market share in 2021, according to NAIC. Although not the largest auto insurer, USAA still has recognized financial strength. In 2021, the company wrote $15.73 billion in private passenger auto insurance premiums.

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While USAA doesn’t have many physical locations, policyholders are still impressed with the company’s customer service. USAA has the top score in the JD Power 2022 U.S. Auto Insurance Study SM in every US region, although it is not classified due to its eligibility criteria. And in our January 2022 auto insurance survey, nearly 65% ​​of the 107 respondents who had coverage through USAA said they were very satisfied with USAA insurance, the highest of any provider.

USAA is also known for its affordability. It offers the cheapest car insurance on average compared to any other provider we investigated. Our rate estimates show that good drivers pay an average of about $1,054 per year for full coverage auto insurance with USAA. The company also offers discounts based on driver safety, multiple policies, safety features like airbags and more.

Pros A++ financial strength rating from AM Best and A+ rating from the BBB Low rates for most drivers High policy limits Usage-based insurance discount Cons Average JD Power claims ratings Not always the cheapest for people with bad credit or recent accidents Fewer local agents than other companies

Geico’s rates are some of the most affordable we’ve seen. Our rate estimates show that drivers pay an average of about $1,308 per year for full coverage auto insurance from Geico. These rate estimates apply to 35-year-olds with good credit and a good driver’s license. Our estimates put Geico in the top three companies for affordability compared to other national providers.

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If you don’t qualify for USAA insurance, Geico is worth considering as your best choice. The company offers reputable service, a wide selection of coverage and cheap car insurance rates, according to our rate estimates.

Geico received an A++ (Superior) rating from AM Best, which means the company has financial support to pay customers’ insurance claims. A larger auto insurer like Geico comes with more financial stability compared to a smaller, local company.

Geico also has a strong reputation for customer service. According to J.D. Power Auto Insurance Study, Geico performed better than average in every region except the Mid-Atlantic, Southwest and Texas. The study surveyed customers on their satisfaction with claims, billing, price, policy and more. In addition, our January 2022 insurance survey, which surveyed 1,000 respondents, found that nearly 12% chose Geico as their insurance provider.

In terms of cost, Geico’s rates are some of the most affordable we’ve seen. Our rate estimates show that drivers pay an average of about $1,308 per year for full coverage auto insurance from Geico. These rate estimates apply to 35-year-olds with good credit and a good driver’s license. Our estimates put Geico in the top three companies for affordability compared to other national providers.

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In addition, the insurer offers a number of ways to save money, including a good driver discount (up to 26% discount), a good student discount (up to 15% discount) and a discount on multiple cars (up to 25% discount). ).

Pros Strong industry ratings Wide selection of car insurance options Many car insurance discounts available Cons Not available in every state No usage-based insurance option

According to our research, Erie offers one of the cheapest average annual rates in the country, costing $1,238 per year for a full coverage policy. The insurer offers many discounts on cheaper than average car insurance rates, including savings for drivers who are away at school, drivers with multiple vehicles and drivers who remain accident-free.

Erie offers a solid option for young drivers (21 years old and younger) as well as drivers with different types of vehicles. In addition to the standard car insurance, the insurer offers the following:

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Erie has an AM Best rating of A+ for its ability to pay out insurance claims. The insurer’s customer service is also highly regarded, as evidenced by its 3.3 customer rating on TrustPilot. In the 2022 JD Power US Insurance Shopping Study, Erie received a score of 878 points out of a possible 1,000 points. This was second among medium-sized insurers.

Pros A++ financial strength rating and A rating from the BBB Multiple driver discount opportunities Offers accident forgiveness coverage Cons Outdated mobile app

According to our research, travel insurance prices are slightly cheaper than the national average, costing an average of $1,669 per year for a full coverage policy. The auto insurer offers a number of discounts, including savings for homeowners, good students and drivers who stay accident-free.

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