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Let's Find You 2023's Best Auto Insurance Rates!
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We've reviewed and ranked the best auto insurance providers of 2023 based on available driver discounts, past customer reviews, AM Best rating, time in business, and ease of the online quote process.
Last Updated: September 21, 2023
Shop Around: Click on 2 or more insurers below to compare quotes and maximize your savings
AM Best Rating: A.M. Best's Financial Strength Rating (FSR) is a measure of an insurer's financial strength and ability to pay out claims to policyholders. An "A" rating with A.M. Best indicates that an insurer is considered to be top of the industry in ability to meet ongoing insurance obligations.
Choosing the best auto insurance company can seem like a tedious task. With so many options, how do you know which is the best?
Our comprehensive guide covers the importance of understanding auto insurance, its different types, how to compare coverage, and the various factors that can affect your auto insurance rates.
As a driver, understanding auto insurance and its importance is essential in case you ever need to use it, particularly in a severe accident. They can have significant financial and legal consequences.
Car insurance protects you financially if an unexpected accident or incident occurs on the road. Auto insurance can include medical expenses, vehicle repairs, and legal liabilities that protect you and your property.
Auto insurance is customizable, so you can add or remove coverage to suit your needs and budget.
When choosing an insurance company, coverage options and customer service experiences vary. Comparing reviews and ratings helps you make an informed decision and save money.
Our methodology involved thorough research and analysis of customer reviews and ratings. We carefully examined coverage options and pricing, evaluating how each insurance company handles customer service and claims.
Considering their financial strength and stability, we compared each company's discounts and benefits. Additionally, we assessed their industry reputation and customer satisfaction.
In selecting the right car insurance, you need to be in the driver's seat and navigate through the essentials.
Proactively assess your car insurance needs by understanding the minimum requirements, customizing options to fit your lifestyle, and staying mindful of your budget for a smooth and confident decision.
Understanding auto insurance coverage types is crucial for selecting the right policy. Liability, collision, and comprehensive coverage cater to specific needs and budgets.
Research and compare insurers based on customer satisfaction, financial stability, and discounts. Evaluate additional benefits like roadside assistance or accident forgiveness for peace of mind, and regularly review and update your policy to suit changing circumstances.
The most common and extensive car insurance policy types are:
Your car insurance policy may include some or all of the following additional coverage types:
One other thing to consider is whether you should request replacement value coverage or stick with the lesser actual cash value.
Suppose you have a one-year-old car and hit a deer that totals the vehicle. Replacement value coverage provides you with a new, similar car. However, the actual cash value is what the car was worth when totaled, minus depreciation, wear and tear.
Understanding the different car insurance types empowers you to protect yourself and your loved ones on the road. Whether you opt for liability, collision, or comprehensive coverage, reexamine and update your policy regularly to changing circumstances, ensuring you have the appropriate protection on the road.
When selecting the right auto insurance company, considering more than price helps you make an informed decision and find affordable prices. Check out an insurance company's financial strength, reviews, policy options, claims process, and accessibility features like mobile apps.
Banks aren't the only institutions that can fail -- insurers can too. Third-party organizations like AM Best, a global credit agency, evaluate a company's financial stability and ability to handle claims. Choose a company with an AM Best rating of A- or higher.
Next, weigh the customer ratings and reviews from policyholders. Customer feedback provides valuable insights into the insurance company's overall satisfaction and service quality.
Research complaints filed against the insurer to assess their customer service track record. You can access resources like your state’s insurance department and the Better Business Bureau.
Finally, evaluate the claims process of different insurers to find one with a streamlined and efficient method for easy resolution after an accident.
Review available coverage types, such as liability, collision, and comprehensive, and determine which ones meet your requirements. Although auto insurance companies tend to offer similar coverage options, policy terms can vary among them.
Deductibles, limits, and exclusions can affect out-of-pocket costs, so factor them into your decision. Many companies offer customization options like roadside assistance or rental car reimbursement.
Choosing one insurance company over another may not come down to price--the claims process and customer service can be the deciding factors.
A streamlined claims process and responsive customer service team can significantly impact your overall satisfaction with the company. Customer reviews can indicate and foreshadow your claims experience and the insurance company’s customer service reputation,
Take your time to find an insurer that offers a stress-free claims process and excellent customer service.
Usage-based insurance (UBI) and telematics collect and transmit data about your driving habits, like speed, mileage, and braking. Insurance companies use devices installed in the car or smartphone mobile apps to personalize premiums based on your driving behavior.
Telematic data can reward safe driving practices with discounts or lower premiums, offering potential savings if you're a low-mileage driver with safe driving records. UBI and telematics promote transparency and allow safe drivers to receive additional discounts.
Many auto insurance companies offer mobile apps for convenient policy management. Apps can simplify policy management through easy online claims filing and policy document access. Some apps also include convenient features like roadside assistance and accident reporting.
Investigate the mobile app’s user-friendliness and functionality to help you determine if the insurer’s digital services align with your needs and preferences.
Car insurance companies offer various discounts, including safe driver, multi-policy, and good student discounts.
They may also provide discounts for anti-theft devices and usage-based insurance. Some companies extend discounts based on occupation or membership in specific organizations.
When comparing insurance companies, consider the available discounts they offer. Additionally, inquire about any unadvertised discounts that may be available.
Several factors can impact your auto insurance rates. Your driving record, the type of car you drive, your location, and other factors like age, gender, marital status, and credit history can all play a role in determining your rates.
Shopping around enables you to compare quotes from several insurers, helping you find the best price on car insurance.
Many insurance providers give discounts for bundling policies, maintaining a good driving record, or taking defensive driving courses. Another way to save on premiums is by increasing your deductible--but be prepared for higher out-of-pocket costs in case of a claim.
Shopping around is the key to unlocking potential savings and securing a policy that fits your budget.
Online auto insurance comparison tools make exploring a wide range of options conveniently and efficiently easy. Comparing coverage options and rates from several insurance providers helps you find the best price. Receiving an online quote is a no-obligation and free process.
Start by using identical coverage limits and comparing quotes from multiple insurance providers. Shopping around is essential since rates can vary significantly from one company to another.
When comparing quotes, check the policy's fine print to ensure you know any potential limitations or exclusions that could impact your coverage. Also, check the insurance company's financial strength ratings. Cheap insurance from an insurer with a B or lower rating could mean they have trouble covering their claims.
Anytime you experience a significant life change, such as moving, changing jobs, or marriage, notify your provider because you might need to update your coverage.
Selecting a higher deductible can be a savvy move to reduce your insurance premiums and save money.
By opting for a higher deductible, you agree to pay more out-of-pocket for a claim before your insurance coverage kicks in. This trade-off can lead to substantial savings on your premiums, making it an attractive option for budget-conscious drivers. Higher deductibles work best for drivers with a clean record and minimal claims.
However, consider whether you can handle the higher deductible amount. Although higher deductibles can mean lower premiums, you'll need to have that extra cash on hand if an accident occurs. A higher deductible may be a practical and cost-effective choice for drivers with a clean record and a history of minimal claims.
On the other hand, if you anticipate making frequent claims or don't have significant emergency savings to cover a higher deductible, it might be wiser to stick with a lower deductible. Although this could result in higher premiums, it provides security for unexpected accidents, knowing you have financial protection when needed.
Asking about discounts is a fast way to save money on auto insurance.
Many insurers offer discounts for many reasons: driving record, grades, your car’s safety equipment, and more. These are the most common auto insurance discounts:
Consider adjusting your coverage for older vehicles to save on car insurance premiums. Sometimes, buying full coverage (collision and comprehensive) on an older vehicle costs more than the car is worth. However, you risk losing your vehicle in an incident without savings to put toward another car.
Adding Roadside assistance can increase your car insurance premium. It works on a reimbursement basis, so you must spend money out-of-pocket. Consider alternative options like your vehicle manufacturer or an auto club membership.
Finding the best auto insurance company requires careful consideration of multiple factors.
Consider the insurer's financial stability, customer ratings, coverage options, and policy terms. Most importantly, familiarize yourself with their claims process and customer service.
As a licensed insurance of more than ten years, my experience taught me that an insurance company is only as good as its claims department. Here are a couple of questions to ask about your insurer:
In addition, carefully evaluate the coverage you need versus what an agent might recommend. Most agents will recommend full coverage, but if you're driving a 15-year-old car, it might cost more to insure it than replace it, particularly if your collision and comprehensive insurance only pay actual cash value rather than replacement cost value. However, if you lack savings to buy another similar used vehicle, full coverage might be your best bet.
Likewise, if you have personal assets you’re concerned about protecting, such as a home, small business, retirement accounts, or other property, consider increasing the liability coverage accordingly.
Take your time to research and make an informed decision to ensure you get the best car insurance coverage that suits your needs.
If you don't like your car insurance even after buying it, you can change it in 6 months when the policy term ends.
We use a comprehensive evaluation process that considers financial stability, customer satisfaction, coverage options, discounts, claims handling, and overall reputation to determine the "best" car insurance companies.
Determining the car insurance you need depends on circumstances like your state's minimum requirements, vehicle cost and age, and personal assets. Experts recommend having liability coverage that meets or exceeds the minimum requirements.
Car insurance provides financial protection for accidents, theft, or damage to your vehicle. You pay the insurance company a premium in exchange for a promise of coverage.
When you have an accident or covered event, you file a claim. Then, the insurance company reimburses you based on your policy terms.
Car insurance rates depend on many aspects, including your age, driving record, location, and the type of vehicle you drive.
The National Association of Insurance Commissioners (NAIC) determined that the average car insurance premium was $1,176 in 2020.
The auto insurance company that has the lowest cost may vary depending on your driving history, location, and vehicle make, model, and year. When shopping for the lowest auto insurance price, request quotes from multiple insurers and compare rates.
Finding the best car insurance company depends on individual needs. Consider the company’s coverage options, rates, and customer reviews.
Here are a few strategies to find the lowest price on car insurance:
Requesting an online quote is a no-obligation and completely free process. Online quotes also help you easily check which driver discounts you may qualify for.
There are dozens of car insurance discounts available, but they vary among providers.
The most common discounts include bundling with home or renters insurance, safety features like anti-lock brakes or airbags, and affiliations or organizations. Improving and preserving a good credit score is a reliable strategy to save you money on auto insurance.
Required car insurance coverage varies by location. In most places, liability insurance is a legal requirement, covering damages to others in an accident. Some areas mandate personal injury protection (PIP) or medical payments coverage. Comprehensive and collision coverage may be necessary if you have a vehicle loan or lease.
You'll provide personal details like your name, address, and vehicle information such as make, model, year, and VIN. You must also include your driving history, coverage preferences, and deductible choices.
