Although there are many car insurance companies available, only a handful of major players are the most prominent. To narrow down the field, the insurance editorial team at Bankrate looked at the companies' coverage options, discounts, customer service scores, and financial strength ratings. Each company received a Bankrate Scope. This score represents the company's performance in each of its 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. DriveEasy offers a telematics platform called DriveEasy which analyzes driving habits. If you drive safely and reduce your mileage, Geico will lower your rates.
Geico offers many discounts including multi-policy or multi-vehicle discounts. You can save 25% on multiple-vehicle policies. Geico offers a combination of auto and home policies that can be combined to receive a larger discount.
State Farm
State Farm car insurance is a cooperative of mutual insurers that has branches throughout the United States. Its corporate headquarters is located in Bloomington, Illinois. The group employs over 5,000 people. It provides insurance for car owners, families, and small businesses. They offer coverage options for all budgets.
State Farm car insurance rates vary depending on where you live, what age you are, and what type of coverage you need. However, the company offers many discounts that drivers should take advantage of. Drivers who are accident-free for five years or more can receive decent discounts. Defensive driving courses can offer moderate savings for drivers who have been in an accident for less than a year. State Farm's Steer Clear program offers drivers the opportunity to take a driving course and practice. This program is offered across the United States, except in California and Rhode Island.
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. It was founded by Jack Green, Joseph M. Lewis and is based in Mayfield Village in Ohio. It provides insurance for many vehicle types, including cars, bikes, and trucks.
You can also enjoy a range of savings and discounts from the company. Customers can choose the monthly payment that works best for them with a name your price tool on the Progressive website. It will then recommend coverage for them based on their budget. Snapshot, a telematics program, monitors drivers and adjusts insurance rates accordingly. This technology has been found to reduce insurance costs by an average of $146 per 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 provides peace of mind by ensuring your car is insured against theft and damage. The auto insurer also offers roadside service and tire changes. The company also offers rental car reimbursement programs based on your coverage. USAA claims this service can help consumers save up to 30% when they purchase auto insurance.
The application process is simple and can be completed online or over the phone. Although you may find it quicker to apply online, if you have any questions, contact the company and ask for assistance. The agent will ask you questions about your insurance needs and your car's information to make sure you're eligible.
Travelers
There are many options available for travelers car insurance depending on your needs. The company offers standard, premier, and new-car replacement insurance. There are also two accident forgiveness programs. This covers the difference between your actual car value and your remaining loan amount. However, it can be more expensive than bare-bones insurance.
For good drivers, Travelers offers discounts. A discount of 8% is available for those who have more than one car. In addition, if you pay your bill on time, you can get a three to ten percent discount. A discount is also available if you haven't made any claims in the last five year.