There are thousands upon thousands of car insurance providers, but only few companies 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. Each company received a Bankrate Scope. 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 popular choice for anyone looking for low-cost auto insurance. They have very low rates and do not use insurance agents. Additionally, they offer a telematics program called DriveEasy, which analyzes your driving habits. Geico will lower rates for drivers who drive safely and use less fuel.
Geico offers a variety of discounts, including multi-policy discounts and multi-vehicle discounts. Multiple-vehicle policies can be discounted up to 25% You can also combine your auto and home policies with Geico for a bigger discount.
State Farm
State Farm is a mutual insurance company that has offices across the United States. Its corporate headquarters is located in Bloomington, Illinois. The group has more than 5,000 employees and offers car insurance to individuals, families, and businesses. The group offers a variety of coverage options to suit every budget.
State Farm car insurance rates vary depending on where you live, what age you are, and what type of coverage you need. However, drivers should make use of the discounts offered by the company. 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 in the United States except for Rhode Island and California.
Progressive
Progressive insurance has been in business since 1975. It is the nation's third largest insurance company and the most popular commercial auto insurer. Jack Green and Joseph M. Lewis founded the company in 1937. It is located in Mayfield Village (Ohio). The company offers insurance for all types vehicles, including cars and trucks.
The company offers discounts and savings. Customers can choose the monthly payment that works best for them with a name your price tool on the Progressive website. The system will then recommend coverage according to their budget. Snapshot is a telematics system that monitors the driving habits of individuals and adjusts insurance rates accordingly. This technology has been shown to reduce insurance costs by an average amount of $146 per the year. Drivers should also be aware of the fact that this technology may increase their premiums if there is a high-risk incident.
USAA
USAA Car Insurance gives you peace of heart knowing that your car will be protected from theft and damages. The auto insurance company also provides tire change and roadside assistance. Based on your coverage level, it also offers rental car reimbursement. USAA says that the service will save consumers as much as 30% on auto insurance.
The application process is simple and can be completed online or over the phone. While you might find it easier to submit the application online than the phone, the company can help you if necessary. To determine if you are eligible, the agent will ask questions about your insurance requirements and information about your car.
Travelers
You can choose from a number of options depending on what you need. There are two types of insurance offered by Travelers: standard, premium new-car replacement and accident forgiveness. This policy covers the difference in the car's actual cash value and the amount remaining on your loan. This insurance can be more costly than barebones.
Good drivers get discounts from Travelers. A discount of 8% is available for those who have more than one car. You can also get a discount of three to ten per cent if your bill is paid on time. A discount is also available if you haven't made any claims in the last five year.