Best Car Insurance Companies for 2023

Drivers require complete protection at a reasonable cost when it comes to car insurance. Finding the finest auto insurance coverage can be time-consuming because there are so many insurance providers to select from.

The Ascent can be useful. We’ve investigated hundreds of different insurers in-depth, compared costs from around the country, analyzed consumer reviews, and conducted research on vehicle insurance firms. We’ve selected the top insurance options for drivers in various situations, focusing on cost, claims processing, and customer service.

There are recommendations for the top auto insurance companies to suit the demands of drivers from all walks of life, including those who are regular drivers, high-risk drivers, teenagers, and veterans.

State Farm

Logo for State Farm
BEST FOR BUNDLING COVERAGEState Farm
Rating image, 5.00 out of 5 stars.
5.00 star

Bottom Line

State Farm provides numerous ways to receive discounts, including by combining different types of insurance. However, the largest discounts are provided by the numerous young driver programs it provides, such as Steer Clear and a significant student discount. Parents and teenagers may relax knowing they are protected in the event of an accident thanks to comprehensive coverage options and affordable costs. Its one of the car insurance company in this article.

Pros

  • Young drivers can reduce their insurance costs by up to 15%.
  • For young drivers, discounts for good grades can result in an additional 25% in savings.
  • High customer satisfaction rankings
  • Nationwide agent network
  • variety of insurances available under one roof

Cons

  • A bad credit score may result in higher premiums.
  • Within its network, agent quality can vary.

Stand-Out Coverage Options

  • Steer Clear program offers discounts for policyholders under the age of 25
  • If an accident occurs more than 50 miles from home, an optional car rental and travel expenditure coverage will pay for both a rental car and travel costs to the driver’s home or destination.
  • Rideshare insurance is available

Auto-Owners

Logo for Auto-Owners
BEST FOR BUNDLING POLICIESAuto-Owners
Rating image, 4.50 out of 5 stars.
4.50 star

Bottom Line

In spite of the fact that Auto-Owners insurance provides more coverage than its name would suggest, it is best known for its auto coverage. It also offers coverage for life insurance, business insurance, and homeowners or renters insurance. People can purchase all the insurance they require from a single provider and receive sizable rate discounts for bundling coverage. For individuals who pay in full annually or for at least 36 months of timely premium payments, additional reductions may be available to further increase savings for the frugal customer.

Pros

  • Bundled coverage discounts
  • High customer satisfaction
  • Roadside assistance coverage available in the U.S. and Canada

Cons

  • Policies are only available in 26 states
  • Policy must be purchased through an independent agent

Stand-Out Coverage Options

  • Gap insurance to pay off a remaining loan or lease balance if the car is totaled
  • In the event of an accident away from home, additional expense coverage will pay for rental cars, food, accommodation, and other incidentals.
  • Package Personal Automobile Plus, which combines ten well-liked extra coverage features, such as telephone replacement, lock rekeying, and more

Geico

Logo for Geico
BEST FOR PRICE CONSCIOUS CONSUMERSGeico
Rating image, 4.50 out of 5 stars.
4.50 star

Bottom Line

One of the most inexpensive insurers out there, Geico provides options for complete auto insurance coverage at rates lower than most of its rivals. Geico claims to save customers 15% or more on auto insurance, and analysis of policy premiums demonstrates that it keeps its word. All 50 states offer insurance, and those who are in the military, a good student, a government employee, a senior, or a member of another specific group or organization can receive additional discounts. This is one of the car insurance company 2023.

Pros

  • Nationwide coverage
  • Affordable premiums
  • High customer satisfaction
  • Efficient claims handling process
  • Great online application and account management experience

Cons

  • Limited insurance coverage beyond auto insurance
  • Fewer local agents than competitors

Stand-Out Coverage Options

  • Vehicles under 15 months old and with fewer than 15,000 miles on the odometer can get mechanical breakdown insurance, which covers repairs.
  • After an accident, drivers can return to the road more quickly thanks to the Auto Repair Xpress® program since they will receive priority repairs and expedited claims processing.
  • Rideshare insurance is available

Farm Bureau

Logo for Farm Bureau
BEST FOR CLAIMS HANDLINGFarm Bureau
Rating image, 4.50 out of 5 stars.
4.50 star

Bottom Line

Farm Bureau has demonstrated its reliability with a claims satisfaction rate of greater than 90%. Farm Bureau stands out for its reasonable pricing and variety of options to save, such as signing up for Driveology and receiving lower premiums in exchange for allowing the insurer to gather information about the driver’s driving behavior. Policyholders may feel confident knowing their claims will be handled quickly and effectively with little out-of-pocket damage in the event of an accident thanks to top-notch claims handling service and replacement cost coverage for newer vehicles.

Pros

  • One of the highest claims satisfaction rates of any insurer
  • High overall customer satisfaction
  • Offers an array of discounts (multi-driver and savings for good students)

Cons

Stand-Out Coverage Options

  • Replacement cost coverage, which is available when a vehicle is either four or five model years old or newer (depending on the state)

USAA

Logo for USAA
BEST FOR MILITARY MEMBERS AND THEIR FAMILIESUSAA
Rating image, 4.00 out of 5 stars.
4.00 star

Bottom Line

Some of the greatest auto insurance coverage is provided by USAA to military personnel and their families. There are various alternatives for coverage, reasonable premiums compared to most competitors, and several chances to increase savings through premium discounts. After five years, free accident forgiveness coverage ensures that premiums won’t increase in the event of an accident. Only active duty military, veterans, and their families are permitted to join USAA. It’s probably the greatest option for individuals who qualify in terms of car insurance.

Pros

  • Premiums are cheaper than with most competitors
  • High customer satisfaction ratings
  • Policy discounts (for good students, for housing a car on a military base, and more)

Cons

  • No coverage available outside of current and former military members, and their families

Stand-Out Coverage Options

  • Free accident forgiveness after five years
  • Rideshare insurance is available

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What is car insurance?

A form of insurance policy that guards against financial loss is car insurance. Auto insurance pays the bills if the policyholder causes an accident. Depending on the type of coverage a person purchases, it may also assist in covering the cost of their own vehicle’s repairs or replacement.

Here are some of the costs car insurance can cover:

  • Repairing or replacing the vehicle after a fire, theft, or other disaster
  • Medical bills if the driver is hurt in an accident
  • Lost wages if injuries from an accident stop the driver from working
  • Losses another motorist causes if they are uninsured or underinsured
  • Damage to other people’s property the policyholder causes with their vehicle
  • Injuries others experience if the policyholder causes a crash
  • Rental car expenses if the vehicle is in the shop for repairs
  • Emergency roadside assistance

All of these types of auto insurance are optional for drivers. But to guard against losses they can’t afford to pay for out of cash, they should purchase the greatest auto insurance coverage.

How can I find the best price on car insurance?

Drivers must request individual quotes from numerous insurers in order to acquire the lowest auto insurance prices. That’s because pricing might fluctuate substantially depending on an individual motorist’s conditions.

Auto insurance shoppers should compare rates from at least three to five different companies, and preferably more. This process is made simpler by the abundance of websites available online that make it simple to obtain many quotations at once.

Giving a vehicle identification number (VIN) allows the auto insurance company to automatically obtain vital information about the vehicle, making this the quickest option to compare different quotations.

Additionally, drivers ought to be on the lookout for discounts, such as those for safe driving practices, car safety equipment, good grades for teenagers, or participation in particular groups.

How much car insurance do you need?

Drivers should seek for more than just the cheapest car insurance when choosing an auto insurance policy. They may have to pay a higher monthly premium because they need enough coverage to prevent accidents from costing them tens of thousands of dollars.

A person’s situation will determine how much auto insurance they require. But there are minimum standards that apply to most states. Beyond the minimal protection required by their state’s auto insurance laws, drivers may also want to acquire supplementary protection. Drivers may require or choose to purchase the following various types of auto insurance.

Liability insurance

Losses that the insured causes to other individuals are covered by liability insurance. Liability coverage, for instance, would pay for the victim’s injuries and damages if a motorist caused a collision that injured the victim and damaged their car.

The majority of states mandate liability insurance coverage, both to pay for personal injury and property damage. A driver is required to obtain car insurance, for instance, in California.

  • $15,000 in injury liability coverage per person
  • $30,000 in injury liability coverage per accident
  • $5,000 in property damage liability coverage

If they want the best car insurance, many consumers would want to purchase more than the bare minimum. Drivers risk being held personally accountable if they fail to do so and cause an accident. A driver might face a multi-million dollar lawsuit if they are at fault in a collision that results in a fatality. Just $15,000 in insurance wouldn’t do much to safeguard their valuables.

Uninsured/underinsured motorist coverage

This compensates for losses that another motorist should have paid for but was unable to do so due to a lack of insurance. Without it, a driver who was hurt in an accident with an uninsured motorist or a driver without insurance could have to pay for their own medical expenses and car repairs.

Only a few states demand coverage for uninsured or underinsured drivers. For instance, in Connecticut, drivers are required to have insured motorist coverage of $25,000 per person and $50,000 per accident.

Personal injury protection (PIP)

Regardless of who was at blame for the collision, personal injury protection, or PIP, covers the policyholder’s medical expenses and lost wages in the event of a small accident.

PIP is necessary in 15 states in total. In these states, there is “no fault.” Residents of no-fault states are required to utilize their own insurance to cover losses following small incidents. That still holds true even if another driver is at fault.

An illustration of a no-fault state is New York. When getting auto insurance in New York, drivers must purchase at least $50,000 in PIP coverage.

Additionally, there are three no-fault “choice” states. There, drivers have the option of purchasing PIP coverage or selecting a different plan, frequently referred to as a “full-tort” plan. Even after small crashes, a full-tort policy always permits someone to sue other drivers.

Collision insurance

Although collision insurance is an optional item, many people will wish to buy it. Even with the finest policy, liability insurance will not protect against damage to the policyholder’s own vehicle. In the case of a collision, a driver could purchase collision insurance to repair or replace their vehicle.

Comprehensive coverage

Although comprehensive insurance is also an option, many drivers may discover they require it. It covers any damages to a vehicle that don’t originate in a collision. For instance, comprehensive insurance covers the cost of replacing a vehicle after a tree falls on it or repairing windshield damage.

Best cheap auto insurance

Here are The Ascent’s top suggestions for the best cheap auto insurance for motorists who are primarily concerned with getting the most affordable premiums.

  • Geico
  • Nationwide
  • State Farm
  • The Hartford
  • USAA
  • Erie Auto Insurance

Best insurance for veterans

The best auto insurance for service members, according to The Ascent, includes:

  • USAA
  • Armed Forces Insurance
  • Esurance
  • Geico

Best insurance for teens

The best juvenile auto insurance, according to The Ascent, includes:

  • Allstate
  • Progressive
  • Liberty Mutual
  • State Farm
  • Geico

What to do if you can’t get car insurance

Drivers must carry the minimum insurance required by their state in order to drive. If an accident occurs, doing so could result in severe financial loss as well as criminal sanctions.

For drivers who are unable to purchase auto insurance from conventional insurers, there are coverage options. These consist of:

  • State-assigned risk pools: States offer a last-resort option for drivers who are unable to obtain traditional insurance coverage. They can sign up for the state’s assigned risk pool and will be paired with a state-affiliated insurance provider. Another name for this might be a Joint Underwriting Association or a Shared Market.
  • High-risk insurers: For drivers who were turned down by traditional firms, high-risk auto insurance may be the best choice. These insurers specifically cover drivers who are turned down by other insurers. Although they may have high premiums, they can frequently offer greater coverage than a state’s designated risk pool.

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