Cheapest Car Insurance Plans: The Top 7 Insurance Companies

Car insurance is necessary because we do not know what will happen on the road. Although we are careful, some people are not. Do you want to purchase car insurance but need to know how? Here are the cheapest car insurance plans for July 2023!

Top 7 Cheapest Car Insurance Plans in July 2023

There are plenty of insurance companies out there. You might wonder which one is suitable for you while maintaining a good value for money. This list will help you to consider which one suit you the best.

1. Geico

If you have poor credit and want car insurance, some insurance companies will charge more for that. This is not the case for Geico. A good driver with bad credit can get a cheap price of around $202 – $212 monthly. This price is 16% more affordable than the national average.

In most cases, a driver with poor credit needs to pay 70% more than a driver with good credit. This is why, Geico is a good option if you have bad credit. Besides, Geico offers lots of discounts so you can save more money.

2. Eerie

Many insurance companies set up a high price for young and inexperienced drivers because they tend to be reckless on the road. However, Eerie is reasonable with their price, charging only $112 per month for a car insurance policy.

Having one of the cheapest car insurance plans, Eerie’s price does not increase that much after an accident and DUI. After an accident, your insurance policy will increase by $128 per month. Meanwhile, for DUI, it will be $169 per month. 

Those prices are still considered cheap because it goes up for only 67%, other companies might increase the price to 83%.

3. Auto-Owners

The price for full car coverage insurance is approximately $120 – $136 monthly. If you had an accident that cause injury to another person, your rate will only go up to $179, it is a reasonable price and way cheaper than other companies.

The only downside to Auto-Owners is the fact that they are only available in 26 states. Therefore, you should check first whether they are available in your state or not.

4. State Farm

As the biggest insurance company in the country, State Farm is exceptionally good with customer service as well. The company is rated as the best insurance company in 25 states. Offering various discounts to its customer, State Farm’s full car insurance coverage price is $99 per month.

The coverage includes collision and comprehensive insurance. So, if you get into an accident, the company will cover the car’s repair fee no matter whose fault it was. 

5. USAA

With the price of full car coverage of $91 – $114 per month, USAA is undoubtedly the cheapest insurance company in the country. However, USAA can only be purchased by current and previous military members and their families. 

So, unless you are a military member or have a family who is in the military, you cannot purchase insurance from USAA.

6. American Family

Although not having the cheapest car insurance plans, American Family offers the most discounts. The company has 18 discounts, some of which are buying multiple car policies, bundling home and car insurance. 

It also has discounts for installing safety equipment, taking defensive driving courses, being a responsible driver, and many more.

Totaling all of those discounts, the original price of $140 per month will be reduced a lot. It can end up being cheaper than other insurance company that does not offer any discounts.

7. Allstate

Allstate’s full coverage price is approximately $160 per month. It might seem expensive, but if you are under 25 years old and want to bundle your insurance with your parents, the price will be decreased. 

Additionally, the company has plenty of discounts for its customers. However, the company has poorly reviewed customer satisfaction claims after an accident. You might watch out for that. 

How to Get the Cheapest Car Insurance Plans?

Now that you know the top 7 companies with the cheapest car insurance plans, it is time to learn tips on how to get the cheapest car insurance policy. Here are some tips for you.

1. Compare Insurance Quotes

There are many insurance companies out there. Each company has different ways of calculating their prices. Factors like your driving skills, the car you own, and your credit are one of the things they consider. 

Put on your honest information when you ask for insurance quotes and make sure you get the same type of coverage. Wait for the quotes to finish and then compare multiple insurance quotes until you find the cheapest one. Remember, do not rush when you choose the insurance company to cover your needs.

2. Ask for a Discount

The insurance company might have provided discounts you are not familiar with. That is why, you better ask what kind of discounts they offer and see if there are some suitable for your condition. It is a good way to save up your money.

3. Improve Your Credit

Many insurance companies consider your credit score when they calculate your policy fees. This is why you should make sure that you have a positive credit score. Making payments on time and paying attention to your spending will be the best way to have a clean credit score. Thus, earning you the cheapest car insurance plans.

4. Good Driving Record

People with good driving records, meaning no accidents, or DUI, and who drive safely, will get a cheaper price than reckless drivers. Because the insurance thinks that those people are more likely to not fill a claim since they drive carefully. Thus, having a good driving record will cut the cost of insurance fees.

5. Bundle Insurance

Most insurance companies give discounts to people who buy bundle insurance, which means buying two or more insurance policies from one company. It will be a good opportunity for you if you want to purchase homeowner insurance and car insurance at the same time.

Besides, it is easier to pay and maintain if you choose to purchase two or more insurance policies in the same company.

Have You Find the Cheapest Car Insurance Plans?

So, have you got a clearer idea of which company might have the cheapest car insurance plans? The answer differs based on the condition of the driver and the vehicle. Contact multiple insurance companies to get insurance quotes and compare them to find out!