Cheapest Full Coverage Car Insurance for 2024
Cheapest Full Coverage Car Insurance for 2024
Key Takeaways: Cheapest Full Coverage Car Insurance Rates
Travelers offers the cheapest widely-available full coverage car insurance for the average adult driver at $1,124 in August or $94 per month. Nationwide is the second cheapest full coverage option at $1,141 in August or $95 monthly.
State Farm provides the cheapest full coverage rate for teens, seniors, and drivers with a speeding ticket and an at-fault accident. Progressive offers the cheapest full coverage for drivers with a DUI on their driving record starting at $161.
GEICO is the most affordable option for young drivers ages 20–25 starting at $1,448 or $121 per month.
Cheapest Full Coverage Car Insurance
Travelers offers the cheapest full coverage car insurance for most drivers, with an average annual premium of $1,124 per year and $94 per month. Nationwide also offers cheap full coverage auto insurance for the average driver.
The cheapest full coverage car insurance company may vary depending on certain factors, including age, motor vehicle record, claims history, coverage amount and deductible. MoneyGeek analyzed the largest auto insurance companies across the country to find the most affordable full coverage policy for you.
| Travelers | $1,124 | $94 |
| Nationwide | $1,141 | $95 |
| GEICO | $1,183 | $99 |
| State Farm | $1,222 | $102 |
| Progressive | $1,287 | $107 |
| Allstate | $1,460 | $122 |
| Farmers | $1,483 | $124 |
The table provides a comparison of annual and monthly premiums for full coverage car insurance by insurance company for individuals across age groups. The numbers in 100/300/100 and 300/500/300 coverage represent the liability limits of an auto insurance policy. Here's what these numbers mean:
100/300/100 Coverage $100,000 for bodily injury per person per accident. $300,000 for bodily injury total per accident (regardless of the number of people injured). $100,000 for property damage per accident.
300/500/300 Coverage $300,000 for bodily injury per person per accident. $500,000 for bodily injury total per accident. $300,000 for property damage per accident.
Higher limits mean more financial protection but often come with higher premiums. For most buyers we recommend 100/300/100 to save money..
Average Annual Rate: $1,124
Travelers provides affordable full coverage car insurance with a variety of optional add-ons to enhance your policy. These extras include roadside assistance, rental car coverage, new car replacement protection, accident forgiveness, gap coverage, and rideshare coverage in Colorado and Illinois.
MoneyGeek also likes that Travelers also offers several ways to lower your rate. Discounts include bundling multiple policies, driving a new or hybrid car, being a safe driver with a good record, paying your premium in full, setting up automatic payments, getting an early quote, having good students on your policy, and completing driver training.
Purchasing car insurance from Travelers is straightforward and convenient. We went through the online quote process and found it to be quick and user-friendly, allowing you to customize your coverage options and see potential savings in real time.
Cheapest Full Coverage Car Insurance by State
It's important to look at full coverage car insurance rates in your state because insurance companies determine premiums based on factors including state laws, city traffic patterns, and local risk factors. What might be the cheapest option nationally may not be the most affordable in your specific state or ZIP code. Comparing rates specific to your area ensures you get the best coverage at the most affordable price.
Below are the cheapest full coverage car insurance rates in your state.
| Alabama | Country Financial | $593 | $49 |
| Alaska | Allstate | $994 | $83 |
| Arizona | Root Insurance Company | $722 | $60 |
| Arkansas | Southern Farm Bureau | $771 | $64 |
| California | CSAA | $427 | $36 |
| Colorado | American National P&C | $721 | $60 |
| Connecticut | GEICO | $948 | $79 |
| Delaware | Travelers | $865 | $72 |
The rates shown in the table above are for a 100/300/100 full coverage policy with a $1,000 deductible.
Cheap Full Coverage Car Insurance by Age
A driver's age is one of the biggest factor insurers use to determine the cost of car insurance. Teens and young drivers tend to have the most expensive full coverage policies, and senior drivers typically pay slightly higher premiums than middle-aged adults. However, the states of Hawaii and Massachusetts do not allow age to be used as a rating factor.
The most common cheapest providers based on age range across the U.S. are:
- Teens (ages 16–19): State Farm
- Young drivers (ages 20–25): GEICO
- Adults (ages 30–50): GEICO
- Seniors (ages 60+): State Farm
| 16 | State Farm | $3,732 | $311 |
| 17 | State Farm | $3,312 | $276 |
| 18 | State Farm | $2,966 | $247 |
| 19 | State Farm | $2,531 | $211 |
| 20 | State Farm | $2,272 | $189 |
| 21 | GEICO | $1,824 | $152 |
| 22 | GEICO | $1,850 | $154 |
| 23 | GEICO | $1,655 | $138 |
The table above shows the cheapest full coverage car insurance for a 100/300/100 policy with a $1,000 deductible. Note that these premiums are for individual policies only.
Cheapest Full Coverage Car Insurance for Teens and Young Drivers by State
Adding a teen driver to a family policy is much cheaper compared to getting an individual full coverage policy for the teen. For example, in Arkansas, adding a teen to a family policy with Allstate costs $1,689, whereas an individual policy costs $6,394, a 74% increase.
Strategies to find the cheapest car insurance for teens and young drivers:
- Choose a Safe, Low-Cost Vehicle: Opting for cars with high safety ratings and lower insurance costs can significantly reduce premiums.
- Utilize Discounts: Look for good student discounts, driver training discounts, and bundling policies.
- Add your teen to a a family policy
| Alabama | Allstate | $1,862 | $4,554 | $2,691 | 59% |
| Alaska | GEICO | $2,131 | $3,887 | $1,756 | 45% |
| Arizona | Travelers | $1,970 | $3,702 | $1,732 | 47% |
| Arkansas | Allstate | $1,689 | $6,394 | $4,706 | 74% |
| California | State Farm | $2,943 | $3,327 | $384 | 12% |
| Colorado | Kemper | $1,393 | $7,816 | $6,422 | 82% |
| Connecticut | GEICO | $1,581 | $8,657 | $7,076 | 82% |
| Delaware | GEICO | $2,930 | $7,197 | $4,267 | 59% |
The rates shown in the table are for a 100/300/100 policy with a $1,000 deductible.
Cheapest Full Coverage Car Insurance for Seniors by State
Insurance providers typically charge higher premiums for senior drivers than middle-aged adults because of their vulnerability to injury due to a crash. .
Find the cheapest full coverage rates for a senior driver in your area by selecting your state in the table below.
| Virginia | Auto-Owners Insurance Co | $791 | $66 |
| Alabama | Country Financial | $549 | $46 |
| Alaska | GEICO | $920 | $77 |
| Arizona | Root Insurance Company | $774 | $64 |
| Arkansas | Southern Farm Bureau | $701 | $58 |
| California | CSAA | $421 | $35 |
| Colorado | American National P&C | $706 | $59 |
| Connecticut | GEICO | $931 | $78 |
The rates shown above are for a 65-year-old driver with a 100/300/100 full coverage policy and a $1,000 deductible.
Cheapest Full Coverage Car Insurance for High-Risk Drivers
If you have moving violations or accidents on your record, you’ll likely face higher full coverage car insurance rates compared to those with a clean driving history, as insurers view you as a higher insurance risk. For more serious infractions, like a DUI, you might be required to obtain an SR-22 certificate.
While all insurers will increase your premiums, some may do so less drastically than others. The sections below show the most affordable insurance companies and rates for high-risk drivers across various profiles.
- Cheapest Drivers With a Ticket: State Farm
- Cheapest Drivers With an At-Fault Accident: State Farm
- Cheapest Drivers With a DUI: Progressive
Cheapest Full Coverage With a Ticket
Car insurance rates typically go higher after you have a ticket on your driving record. It may also be harder to find cheap car insurance after a ticket because insurers deem the driver much riskier to insure.
Travelers and State Farm are the cheapest car insurance company for drivers with a ticket for all age groups:
- 22–29 years old: $1,677 per year or $140 per month
- 30–59 years old: $1,374 per year or $114 per month
- 60+ years old: $1,260 per year or $105 per month
Drivers with a ticket on their driving record can lower the cost of their car insurance by utilizing discounts, choosing lower coverage limits or having a higher deductible. Exploring other options and comparing rates based on how much car insurance you need can also help you find the most affordable policies. Use the table below to review premiums by coverage and deductible.
| State Farm | $1,374 | $114 |
| Nationwide | $1,435 | $120 |
| Travelers | $1,540 | $128 |
| GEICO | $1,563 | $130 |
| Progressive | $1,667 | $139 |
| Allstate | $1,710 | $142 |
| Farmers | $1,882 | $157 |
If you have a ticket, you will likely have increased premiums for 3–5 years – the duration the ticket stays on your record. In the meantime, you may qualify for a defensive driving course discount from select providers that can help to lower your premiums.
Cheapest Full Coverage With an Accident
MoneyGeek analyzed average rates for drivers who have been involved in an at-fault accident and found that the cheapest full coverage car insurance overall is State Farm.
State Farm and Travelers offer the cheapest rates across all age groups for drivers with an accident:
- 22–29 years old: $1,799 per year or $150 per month
- 30–59 years old: $1,493 per year or $124 per month
- 60+ years old: $1,372 per year or $114 per month
Finding cheap auto insurance after an accident can be challenging, but you can lower your premiums by capitalizing on discounts, lowering coverage limits or choosing a higher deductible.
| State Farm | $1,493 | $124 |
| Travelers | $1,654 | $138 |
| Nationwide | $1,735 | $145 |
| GEICO | $1,964 | $164 |
| Allstate | $2,057 | $171 |
| Progressive | $2,074 | $173 |
| Farmers | $2,304 | $192 |
An at-fault accident may stay on your record for 3–5 years or up to 10 years if you were driving a commercial vehicle. Some providers may offer discounts for drivers with an accident on record who choose to take a driver's education course.
Cheapest Full Coverage With a DUI
Based on MoneyGeek’s analysis, the cheapest provider for a driver with a DUI is State Farm.
State Farm and Progressive offers the cheapest car insurance after a DUI for all age groups:
- 22–29 years old: $1,935 per year or $161 per month
- 30–59 years old: $1,628 per year or $136 per month
- 60+ years old: $1,514 per year or $126 per month
A DUI on your record leads to higher premiums, but you can lower the cost of your policy by getting a discount, having lower coverage limits or opting for a higher deductible.
| Progressive | $1,935 | $161 |
| State Farm | $2,030 | $169 |
| Travelers | $2,085 | $174 |
| Farmers | $2,376 | $198 |
| Allstate | $2,447 | $204 |
| Nationwide | $2,768 | $231 |
| GEICO | $3,392 | $283 |
A driver who has been issued a DUI can expect an increase in car insurance rates since they’re considered much riskier to insure.
The length of time a DUI will impact your car insurance rates varies by state. It can range from 3–10 years. Some states may also issue a DWI (Driving While Intoxicated) or an OWI (Operating While Intoxicated). Depending on your situation, you may also need to file SR-22 insurance.
Cheapest Full Coverage by Credit Score
Insurance providers consider credit-based insurance scores when calculating car insurance rates in most states, except California, Hawaii, Massachusetts and Michigan.
A credit score is a three-digit number representing a person’s creditworthiness.
- Poor: 524–577
- Below Fair: 628–671
- Fair: 710–740
- Good: 769–794
- Excellent: 823+
Generally, a higher credit score leads to cheaper ful coverage car insurance rates.
| Allstate | $847 | $694 | $614.13 | $510.98 | $399.64 |
| Auto-Owners Insurance Co | $1,766 | $1,289 | $942.43 | $632.09 | $448.95 |
| Farmers | $985 | $881 | $791.17 | $669.86 | $547.58 |
| GEICO | $834 | $713 | $603.81 | $549.00 | $499.93 |
| Nationwide | $918 | $788 | $700.24 | $641.96 | $548.33 |
| Progressive | $1,468 | $1,228 | $1,079.93 | $864.85 | $658.69 |
| State Farm | $2,308 | $1,552 | $1,040.72 | $678.78 | $445.31 |
| Travelers | $874 | $811 | $702.34 | $562.58 | $458.46 |
Cheapest Full Coverage for Military
Veterans, current military and their families may qualify for dedicated services and discounts to get cheap full coverage car insurance.
USAA is the cheapest full coverage car insurance company for military drivers of all age groups:
- 22–29 years old: $1,054 per year or $88 per month
- 30–59 years old: $866 per year or $72 per month
- 60+ years old: $831 per year or $69 per month
The table below can help you determine the cheapest car insurance for military drivers based on the type of policy you need and your age.
| USAA | $866 | $72 |
| Travelers | $1,124 | $94 |
| Nationwide | $1,141 | $95 |
| GEICO | $1,183 | $99 |
| State Farm | $1,222 | $102 |
| Progressive | $1,287 | $107 |
| Allstate | $1,460 | $122 |
| Farmers | $1,483 | $124 |
While USAA was a clear winner for the cheapest car insurance companies for a full coverage policy for military drivers, many car insurance companies offer military discounts or specialized policies for active duty military members. By comparison shopping with different providers and asking about discount options, you may be able to find even cheaper insurance.
Best Cheap Full Coverage Car Insurance
The best cheap full coverage car insurance company is State Farm. While State Farm may have slightly higher rates for full coverage, State Farm scored the highest out of all car insurers when we modeled cost and service, with particularly high scores for the best customer satisfaction and affordability.
State Farm offers the best cheap car insurance for a full coverage policy across all ages:
- 22–29 years old: $1,509 per year or $126 per month
- 30–59 years old: $1,222 per year or $102 per month
- 60+ years old: $1,122 per year or $94 per month
| State Farm | $1,509 | $126 | 80 |
| Travelers | $1,286 | $107 | 79 |
| Nationwide | $1,422 | $118 | 78 |
| GEICO | $1,428 | $119 | 75 |
| Allstate | $1,623 | $135 | 73 |
| Progressive | $1,564 | $130 | 73 |
| Farmers | $1,799 | $150 | 72 |
In determining the best car insurance providers for a full coverage policy, MoneyGeek innovated a weighted ranking system. We reviewed each company for their affordability, customer satisfaction, claim satisfaction, available coverage offerings and financial stability to create a score out of 100. Learn more about our data and ranking system in our methodology at the top of the page.
What Is Full Coverage Auto Insurance?
There is no single definition for full coverage car insurance, but it typically includes liability protection and comprehensive and collision coverage.
- Liability coverage protects you against the cost of property damage or injury to others if you're at fault.
- Comprehensive and collision coverages insurance covers repairs to your vehicle if it's damaged on or off the road, from an at-fault accident or collision with another vehicle or object, animal damage and fire or weather-related incident, as well as vandalism and theft.
Other coverages that may be included in full coverage auto insurance, depending on your policy:
- Personal Injury Protection (PIP)
- Medical Payments
- Uninsured/Underinsured Motorist
- Guaranteed Asset Protection Insurance (GAP)
- Rental Car Coverage
- Roadside Assistance
These additional coverages are considered optional and can be included in a quote for cost-comparison purposes.
What Full Coverage Doesn't Cover
Unless you opt for additional insurances such as PIP, GAP, uninsured/underinsured coverage and other optional coverages listed above, these options are commonly not included in full coverage insurance. In addition, commercial use of your vehicle is typically not covered. This includes ridesharing drivers who work for services such as Uber, Lyft and DoorDash. Some supplemental coverages may or may not include vehicle customization or accessories, and some may not cover pet injuries unless you purchase a separate pet injury rider.
When choosing a policy, it's critical to ask your policy provider about the details of your coverage and if you need supplemental policies to ensure you are protected.
How to Determine If Full Coverage Car Insurance Is Right for You
Full coverage car insurance is not a common legal requirement if you own your car but can contribute to your peace of mind and ensure that you are protected when you need it most. If you drive a financed or leased vehicle, you will likely be required by your lender to purchase full coverage to protect their investment.
The greatest value of full coverage car insurance is the financial protection of you and your vehicle as an asset. When determining if full coverage car insurance is a practical investment to protect your vehicle, you'll need to consider the actual cash value of your vehicle, your deductible and how ready and prepared you are to cover the cost of repairs or medical bills.
- Actual cash value (ACV): The most current and evaluated value of your vehicle for replacement cost. You can determine the ACV of your vehicle by looking up the year, make, model and trim level of your vehicle online. Then, reduce the value by any wear and tear on the vehicle, as well as any claims and unrepaired damage.
Use this simple equation for insight into how many years of full coverage you would need to pay to replace your car: (A-B/C)
- A: The actual cash value of your vehicle
- B: The cost of your deductible
- C: Annual full coverage car insurance cost
For example:
- If your car was worth $4,000, your deductible was $500 and your annual full coverage car insurance cost was $941, it would take 3.7 years of full coverage to replace your vehicle.
- If your car was worth $15,000, your deductible was $500 and your annual full coverage car insurance cost was $941, it would take 15.4 years of full coverage to replace your vehicle.
Additional considerations using the above example:
- If you have an older car worth $4,000 that you plan on replacing in the next few years, rather than investing in full coverage car insurance, your best option might be to save and set money aside for the next 3.7 years to replace your vehicle.
- However, if you drive a newer or more expensive car, a full coverage car insurance option is a great way to protect your financial investment. If your $15,000 car was totaled, your policy would cover its replacement, which otherwise would take you 15.4 years of saving on your policy cost to purchase a new car.
Full coverage car insurance decreases in value as an investment as your vehicle ages, increases miles and decreases in worth. Experts recommend that if your annual full coverage payment is lower than 10% of the value of your car, a full coverage policy may be a worthy investment.
If your policy payment exceeds 10% of the actual cash value of your car, you may consider not getting full coverage car insurance or dropping your policy. However, if you value service and unique coverage options, the best full coverage car insurance policy can provide a robust and reliable safety net.
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