There are thousands of car insurance companies, but only a few major players dominate the market. Bankrate's insurance editorial staff looked at the financial strength ratings, coverage options, discounts, customer services scores, and financial strength ratings to narrow down the field. They then assigned each company a Bankrate Score. This score is a number from 5.0 that represents how well the company performed in each category.
Geico
Geico is a great choice for those who are looking for affordable car insurance. They offer very low rates and don't 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 multi-policy or multi-vehicle discounts. Save 25% on multi-vehicle policies. In addition, you can combine auto and home policies with Geico to get a larger discount.
State Farm
State Farm car insurance is a cooperative of mutual insurers that has branches throughout the United States. The corporate headquarters of the company is in Bloomington, Illinois. It has over 5,000 employees. They offer car insurance to individuals as well as families and businesses. They offer a wide range of coverage options for 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. The company offers many discounts that drivers need to take advantage of. For instance, drivers who have been accident-free for at least five years qualify for decent discounts, while drivers who have been accident-free for a year can get moderate savings by taking a defensive driving course. Drivers can also take advantage of State Farm's Steer Clear program, which includes a course and driving practice. This program is available in all 50 states, with the exception of California and Rhode Island.
Progressive
The Progressive car insurance company has been in business for over 75 years. It is the nation's third largest insurance company and the most popular commercial auto insurer. Jack Green and Joseph M. Lewis established the company in 1937. They have their headquarters in Mayfield Village. The company offers insurance for all types vehicles, including cars and trucks.
The company also offers savings and discounts. Progressive offers the option to select the best monthly payment for customers. It will then recommend coverage for them based on their budget. Snapshot, a telematics program, monitors drivers and adjusts insurance rates accordingly. The average annual insurance cost reduction for this technology is $146. However, drivers should be aware that this technology can also increase their premiums if they are involved in a high-risk accident.
USAA
USAA Car Insurance gives you peace of heart knowing that your car will be protected from theft and damages. The auto insurer also offers roadside service and tire changes. The company also offers rental car reimbursement programs based on your coverage. USAA says this service saves consumers up to 30% on auto insurance.
The application process is straightforward and can be done online, or over the phone. You may find it faster to complete the application online, but if you aren't sure, call the company and ask a representative for help. An agent will ask about your insurance needs, and the details of your car to determine whether you're eligible.
Travelers
There are many options available for travelers car insurance depending on your needs. Standard insurance, premier car replacement and two accident forgiveness plans are offered by the company. The latter covers any difference between the actual value of your car or the amount you owe on the loan. It is however more expensive than barebones insurance.
Travelers offers discounts for drivers who drive well. If you have more than one vehicle, you may be eligible for an 8% discount. Additionally, if you pay the bill on time, you may get a 3-10% discount. If you have not made any claims within the last five years, you may also be eligible for a discount.