Compare Car Insurance Rates & Quotes In 2024

Compare Auto Insurance Quotes

According to a recent survey, 39% of auto insurance consumers didn’t shop around for quotes at their most recent renewal, potentially leaving money on the table. This is because while most auto insurance companies use the same rating factors, each company weighs them differently. So what you pay with one company may be drastically different than another.

If you find yourself in this category, don’t worry. It’s not too late to shop around and compare auto insurance quotes. Read on to learn more about car insurance rates and how they may compare between companies.

How to Compare Car Insurance Rates

When your car insurance is coming up for renewal and you’re ready to shop around, there are a few key steps you should follow before getting quotes. The steps are indicated below.

Gather Your Information

Your first step in getting quotes for your car insurance is to ensure you have the information most companies will need to provide an accurate price:

• The driver’s license numbers for every driver
• Dates of births of each driver
• Vehicle identification number for the car
• Accidents or violations for each driver within the past 3-5 years

As an industry veteran for over 15 years, I always recommend having a copy of your current insurance policy handy as you get quotes. Not only will it help you compare coverages and prices, but it will often have license numbers and VINs as well.

Decide How Much Car Insurance You Need

Next, you must determine how much insurance you need. Almost all states have minimum coverage requirements you must meet to register your car. For example, Texas requires drivers to carry at least $30,000 per person, $60,000 per accident for bodily injury, and $25,000 for property damage. Remember that this is the minimum amount of coverage required and higher limits can also be purchased.

If you lease or finance your car, the bank will often require you to also purchase comprehensive and collision coverage. These coverages pay to repair your car if you are in an accident, or if your car is stolen, or damaged by fire, vandalism (like getting a cracked windshield), flooding, or other weather events. These coverages require you to choose a deductible, which is the amount you need to pay before insurance will cover the damage.

The higher the deductible, the lower your premium will be. While it may sound enticing to choose a high deductible for this reason, you will have to come up with this amount after a loss. So be sure to choose a deductible you can realistically afford.

Check Coverage Options and Discounts

In addition to choosing your liability limits and deductibles for comprehensive and collision coverage, you should inquire about additional coverages. Some common coverage options you may want to include on your policy are as follows:

• Uninsured/Underinsured Motorist
• Personal Injury Protection/Medical Payments
• Lease/Loan Gap Coverage
• Rental Car Coverage
• Towing Coverage

There are also discounts for which you may qualify. Depending on the discount, drivers can save up to 35%. Some of the discounts offered by most companies are below.

• Multi-Policy Discount- For bundling multiple policies with the same carrier, drivers can save between 5%-25%.
• Paid-In Full Discount- Some insurers offer discounts between 6%-14% for paying your annual premium in full.
• Multi-Car Discount- If you have multiple cars on one policy, a discount between 8%-25% is applied.
• Good Driver Discount- Drivers with no violations or accidents within a certain period can save up to 26% on their policy.

This list is not exhaustive as discounts vary by company. Be sure to ask about what discounts are available during quoting.

Collect and Compare Car Insurance Quotes

Now that you’ve gathered your information and determined the appropriate coverage and discounts, it’s time to obtain your quotes. You have a few different ways you can do this. You can either utilize an insurance comparison site like Insuranceopedia, contact an independent agent, or quote with insurance companies directly.

Regardless of your chosen method, you should ensure you are quoting the same limits, coverage, and deductible amounts across companies. This will help you make a better decision on price. But remember that price isn’t the only factor.

Once you’ve narrowed down the companies you can afford, you should also compare the companies’ financial strength, and claims and customer service rating. While price is important, it’s even more imperative that a company has the financial capability to pay your claims, and will be available for any questions or policy changes. Reading customer reviews may help you decide which company is best.

Compare Auto Insurance Rates by Age

Age is an important rating factor for insurance companies because it often correlates with the amount of driving experience you have. For example, a 16-year-old frequently has less driving experience than someone in their 50’s. Also, younger drivers, such as teenage drivers, tend to be involved in more accidents statistically.

According to the Insurance Institute for Highway Safety, drivers between the ages of 16-19 are 3 times more likely to be in fatal car crashes than drivers 20 years or older. Because of this, drivers in this category tend to pay higher insurance premiums. As drivers get older, the price of their insurance will generally decrease.

Liability Car Insurance Rates

Drivers who only need liability coverage on their car can expect to pay $627 annually on average. But this amount will vary depending on the factors described above, including the state you live in and the insurance company. Here are a few different liability rates by company.

Full Coverage Insurance Rates

Adding comprehensive and collision coverage onto your auto insurance is what is commonly referred to as “full coverage.” Insurance policies with these coverages cost an average of $1,982 annually. However, like liability insurance, the actual price you pay will vary by state, driving record, and insurance company.

Compare Car Insurance Rates for Drivers With a DUI

Drivers who are convicted of a DUI violation may find it difficult to find insurance. The insurance companies that will agree to provide coverage often charge higher rates because drivers with DUI’s are seen as riskier to insure. In fact, these drivers can expect to pay 84% more than a driver with a clean record for the same coverage.

Compare Car Insurance Rates for Poor Credit

Similar to having a DUI on your record, drivers with poor credit are seen as riskier to insure as well. Historically, insurers have found that drivers with lower credit tend to file more claims, so they charge them more to offset their expenses. Drivers with poor credit scores pay 109% more than drivers with excellent credit, even with the same driving record.

Compare Car Insurance Rates for Drivers With an Accident

Unless your insurance company offers accident forgiveness or you live in a state with specific rules regarding accidents, drivers can expect their insurance price to increase after an at-fault accident. The national average increase is about $665 a year, but the actual amount will vary by state, company, and the specific details of the accident.

Premium increases after an accident are a way insurance companies can better match the price of your policy to the level of risk involved in insuring you.

Compare Auto Insurance Rates by Company

The average price of car insurance is $2,014 annually for full coverage. However, because car insurance is specific to the drivers and vehicles insured, this price can vary widely. In addition, each insurance company sets its rates based on its individual loss experience. So the price you pay with one can be different than what you pay with another.

Compare Car Insurance Rates by Vehicle

The type of vehicle you drive also determines your insurance price. Higher-end vehicles tend to cost more to replace or repair, which is why they are more expensive to insure. Some cars are more prone to theft, which can affect the price as well.

Least Expensive Vehicles To Insure

Most Expensive Vehicles To Insure

Compare Car Insurance Rates for Drivers With a Speeding Ticket

Per the National Safety Council, 29% of all fatal car accidents had speeding as a factor. Speeding also reduces driver control, increases the severity of damage, and the risk of vehicle rollovers after a crash. Due to this, companies will charge more for insurance to drivers with speeding violations on their records.

Compare SR-22 Insurance Rates By U.S. State

SR-22 insurance is a certificate mandated by the state for high-risk drivers to prove they carry the minimum required liability insurance coverage. It is typically required after serious traffic violations, such as DUIs, repeated offenses, or driving without insurance. The SR-22 is filed by an insurance company with the state’s Department of Motor Vehicles (DMV) to verify that the driver meets the state’s insurance requirements.

The cost of SR-22 insurance can vary widely based on factors such as the driver’s record, location, and the insurer. Below is a table showing the average cost of SR-22 insurance in each US state:

Compare Car Insurance Rates for Seniors

According to the National Highway and Traffic Safety Administration, 13% of senior drivers, aged 65 years and older were involved in fatal car accidents last year. As drivers get older and reflexes begin to decline, the incidents of car accidents increase. Senior drivers are also more prone to injuries as a result of a car crash, which is why their auto insurance prices are higher.

Compare Low-Income Car Insurance Rates By U.S. State

Low-income car insurance is designed to make automobile insurance more affordable for individuals and families with limited financial resources. These policies often provide the minimum required coverage mandated by state law at a reduced cost, helping low-income drivers comply with legal requirements without facing financial hardship.

Programs and eligibility criteria vary by state, but they typically consider factors such as income level, household size, and vehicle value. Low-income car insurance can help ensure that all drivers have access to essential coverage, promoting safer and more equitable roads. Below is a table showing the average cost of low-income car insurance in each US state:

Compare Temporary Car Insurance Rates By U.S. State

Compare RV Insurance Rates

RV insurance provides coverage for recreational vehicles, including motorhomes, campervans, and travel trailers. This type of insurance is essential for protecting your investment and ensuring financial security while on the road.

RV insurance typically includes liability coverage, collision and comprehensive coverage, and may offer additional options like roadside assistance, personal belongings coverage, and full-time RV insurance for those who live in their RV year-round. Coverage requirements and costs can vary based on factors such as the type of RV, its usage, and the driver’s profile. Below is a table showing the average cost of RV insurance in each US state:

Compare Non-Owner Car Insurance Rates By U.S. State

Non-owner car insurance is a type of liability coverage designed for individuals who drive but do not own a vehicle. This insurance provides protection in case of an accident while driving a rented, borrowed, or shared car. Non-owner car insurance typically covers bodily injury and property damage liability, helping to pay for injuries or damages you cause to others.

It does not cover damages to the vehicle you are driving or your own medical expenses. This type of insurance is ideal for people who frequently rent cars, use car-sharing services, or borrow vehicles from friends or family. Below is a table showing the average cost of non-owner car insurance in each US state:

Get Cheaper Car Insurance Quotes

One survey shows that 47% of consumers who have shopped for car insurance have spent less than an hour doing it. To make the most of your time, here are a few ways you can get cheaper quotes while shopping around.

• Improve Your Credit – Raising your credit score one tier can save you up to 17% on average.
• Inquire About Discounts – Drivers can save money on car insurance by asking about what discounts they may be eligible for.
• Be a Good Driver – Drivers who stay claim and violation-free can save significantly on their auto insurance.
• Review Coverages – Review your current coverage with a licensed insurance professional. You may be able to remove comprehensive and collision coverage, for example.
• Increase Deductibles – If you can afford to, you may also want to increase your comprehensive and collision deductibles to save some money every month.

Information Needed to Get Car Insurance Quotes

Before you start shopping for car insurance, you should be prepared. Most companies will ask for similar information, so be sure to have the following ready:

• Drivers’ names, dates of birth, and driver’s license numbers
• Approximate age all drivers were first licensed
• Prior accidents or violations and the dates they occurred
• Vehicle identification numbers for all cars being quoted
• Liability limits and deductible amounts on your current policy
• The garaging address of each car

While some insurers won’t need all this information, it’s better to have it on hand just in case.

Types of Car Insurance

As you are contacting various carriers, it’s imperative to know the type of car insurance you are quoting. The different types of insurance are as follows.

Liability

The minimum amount of car insurance that is generally required is liability. Liability consists of two coverages:

• Bodily Injury to Others
• Property Damage

Bodily injury coverage pays for damage you cause to other people, while property damage pays for damage you cause to another car or item. Every state will specify how much coverage is required for each, if at all. The coverage is usually broken out into a per person, per accident limit for bodily injury, and a per accident limit for property damage.

Comprehensive

Comprehensive coverage protects your car from things such as fire, theft, vandalism, and collision with an animal. It is usually not mandated by the state to carry but if you lease or finance your car, your bank may require you to purchase this coverage along with collision. Both comprehensive and collision coverage require a deductible, which is the amount you have to pay out of pocket before the insurance company will pay for damages.

Collision

Collision is the coverage that pays for damage to your car if you hit another vehicle or object. Purchasing collision and comprehensive coverage together is what is often referred to as “full coverage.” As stated previously, collision coverage is often required by a bank if you lease or finance your car, and comes with a deductible.

Uninsured and Underinsured Motorist

Suppose you are hit by someone who doesn’t have insurance or doesn’t have enough coverage to pay for the damage. In that case, uninsured/underinsured motorist will pay for your bodily injury or property damage. This coverage can be added to your policy to ensure you are protected in these scenarios.

Similar to bodily injury and property damage liability coverage, the limits are usually specified as per-person and per accident for uninsured motorist bodily injury and a per-accident limit for uninsured motorist property damage.

Personal Injury Protection/Medical Payments

Personal injury protection, or PIP, and medical payments cover medical expenses for you and anyone in your car after a car accident. Some states offer PIP, while others offer medical payments only. The difference between the two is that PIP is broader and also provides coverage for lost wages, funeral expenses, and child care.