Whether you are shopping for a new policy or have an existing one, finding cheap car insurance is essential to keeping your budget in check. There are many factors that can affect your insurance rate, including the type of car you drive, your age, and your driving record.
Having an older car that’s more expensive to repair, or a less reliable model, will cost you more than buying a car with a good safety rating and a lower price tag. But if you are willing to pay a bit more for comprehensive coverage and collision insurance, you can find cheap auto insurance that protects you from financial liability in case of a major accident.
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The cheapest providers tend to be small, regional insurers that have low market shares but still provide affordable coverage. These companies also offer strong customer satisfaction ratings and personalized service.
GEICO is an American-based company that provides some of the best prices for auto insurance. The company’s car insurance rates are lower than most of its competitors, and it offers a number of different options for drivers to customize their coverage.
Another popular car insurer, State Farm, has been around for over a century and is widely available in most states. The company has a network of local agents who can help you find the cheapest rates in your area.
Drivers who are members of USAA can save up to $707 per year on their car insurance premiums, according to a survey. Its policies are cheaper than those of competitors like GEICO and are also accepted in more states.
Root Insurance is a car insurance company that uses telematics technology to track drivers’ behavior and calculate their risk levels. The insurer then discounts car insurance premiums based on their safe driving.
This discount is available to drivers who have a clean driving record and are willing to commit to a safe driving practice. The discount is typically 10% but can vary depending on the insurer.
Other types of discounts you can qualify for are:
If your credit is in good shape, your insurance rates are likely to be much lower. Most drivers who have a good credit score will pay an average of $37 a month for minimum coverage.
If you are a teacher, police officer or physician, you may be able to receive a discount on your policy. These types of occupations tend to be lower-risk, which means they are less likely to cause an accident or file a claim.
Lastly, you can get a discount by bundling your auto insurance with other policies. This could cut your costs even further by reducing your premiums for each policy you have with the same provider.
It’s also a good idea to ask about the various discounts that are available, including multi-policy discounts and discounts for paying your premiums in full. These can help you save on your insurance costs in addition to any other savings you’re able to secure from other sources.