There are thousands of car insurance companies, but only a few major players dominate the market. 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 was then assigned a Bankrate Score. This score, which is a number between 0 and 5, represents how well each company did in each of the scoring categories.
Geico
Geico is a popular choice for anyone looking for low-cost auto insurance. They don't require insurance agents and have low rates. Additionally, they offer a telematics program called DriveEasy, which analyzes your driving habits. Geico will reduce your rates if you drive safely and decrease your mileage.
Geico offers several discounts, including multi-policy and multi-vehicle discounts. Multiple-vehicle policies can be discounted up to 25% Geico allows you to combine auto- and home insurance policies to get 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 are located in Bloomington (Illinois). This group employs more than 5,000 people and provides car insurance for individuals, families, as well businesses. The group offers a variety of coverage options to suit every budget.
State Farm's car insurance rates will vary depending on the driver's location, their age and what kind of coverage they are looking for. However, the company offers many discounts that drivers should take advantage of. Drivers who have been without an accident for five years or less are eligible for modest discounts. Drivers who have been uninjured for one year can enjoy moderate savings by enrolling in a defensive driving course. State Farm's Steer Clear Program, which includes a course as well as driving practice, is also available to drivers. This program is offered in the United States except for Rhode Island and California.
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. The company was founded in 1937 by Jack Green and Joseph M. Lewis, and it is headquartered in Mayfield Village, Ohio. The company offers insurance for all types vehicles, including cars and trucks.
The company offers discounts and savings. Customers can choose the monthly payment that works best for them with a name your price tool on the Progressive website. It will then suggest coverage based upon their budget. Snapshot, a telematics program, monitors drivers and adjusts insurance rates accordingly. This technology has been proven to lower insurance costs by an average $146 per year. This technology can increase drivers' premiums if they are in an accident with high-risk drivers.
USAA
USAA auto insurance gives you the security and peace of mind that your vehicle is safe from theft and damage. The auto insurance company also provides roadside assistance and tire change services. Based on your coverage level, it also offers rental car reimbursement. USAA claims this service can help consumers save up to 30% when they purchase auto insurance.
The application process is straightforward and can be done online, or over the phone. You may find it faster to complete the application online, but if you aren't sure, call the company and ask a representative for help. To determine if you are eligible, the agent will ask questions about your insurance requirements and information about your car.
Travelers
You can choose from a number of options depending on what you need. There are two types of insurance offered by Travelers: standard, premium new-car replacement and accident forgiveness. This covers the difference between your actual car value and your remaining loan amount. However, it is more expensive than bare bones insurance.
Travelers offers discounts for drivers who drive well. You can get an 8% discount if you own more than one vehicle. You can also get a discount of three to ten per cent if your bill is paid on time. If you have not made any claims within the last five years, you may also be eligible for a discount.