BEST CHEAP FULL COVERAGE CAR INSURANCE 2023

Shopping around is the best bet if you want to find cheap full-coverage car insurance. Although Travelers, State Farm and USAA are the least expensive, there are plenty of other providers who are still much more reasonable. With an average monthly cost of $112, Travelers provides the cheapest full-coverage insurance. Finding cheap full-coverage car insurance for young drivers can be hard.

Continue reading to find out more about full coverage insurance.

Full Coverage Car Insurance

Insurance policies that provide “full coverage,” which typically includes comprehensive, collision, and liability coverage, can cost up to twice as much as liability-only policies. When people talk about “full coverage insurance,” they usually mean protection against financial loss as well as coverage for injuries and property damage.

This is important to keep in mind when you are looking for full coverage auto insurance quotes: “Full coverage” means that you are covered for both comprehensive and collision damage. If you add the minimum liability coverage required by your state to the options listed above, you will have a policy that provides the full coverage you need.

A state’s minimum car insurance requirement is often far below what it takes to properly repair your vehicle in the event of an accident. If another driver causes damage to your vehicle, their insurance will cover the costs. However, if you get into an accident, even if it is not your fault, you will likely need full-coverage insurance to cover repairs.

What Does Full Coverage Cover?

Full-coverage car insurance provides a greater safety net than just the mandatory minimum of liability coverage. Your liability limits will be higher when you have full coverage than the bare minimum set forth by your state. This safeguards you against financial ruin in the event of an accident. If an accident occurs, your comprehensive and collision insurance will kick in to help pay for the repairs.

Your car’s comprehensive insurance will pay for repairs that are not a direct result of driving, like:

The weather, such as hail or storms
A falling tree branch
On-road collisions with animals such as deer
Vandalism, such as smashed windows or punctured tires

If your car is damaged in a collision with another vehicle or an immovable object like a fence, mailbox, pole, or even a hit-and-run driver, your insurance will pay for the repairs. When an uninsured driver causes you harm, your insurance company will compensate you for your medical bills and repairs to your vehicle. This coverage is required in some states.

If you are involved in an accident with a driver who does not have adequate auto insurance, underinsured motorist coverage will help pay for your medical bills and other related expenses. If you are hurt in an accident, regardless of who was at fault, your personal injury protection (PIP) will cover the costs associated with your medical care. No-fault states may mandate PIP coverage.

What Determines the Cost of Full Car Insurance

Different auto insurers may use slightly different formulas, but they all look at the following variables:

Where you live: Because there are more accidents in areas with more people, drivers in cities have higher rates. Rates are higher in places prone to extreme weather, where crime is more prevalent, or where repairs are more expensive.
Your driving history: Your rate will be lower if you do not have any tickets or accidents on your record.
Your age: Insurance premiums tend to be higher for both young drivers and those over the age of 65. Young drivers pay more because of their lack of experience, and senior drivers face rising costs as their driving abilities and reflexes deteriorate with age.
Your gender: Since young men are statistically more likely to cause an accident than young women, so, they pay a higher premium.
Driving experience: Drivers with less experience must pay more for insurance because they are more likely to cause accidents.
Auto insurance history: Car insurance premiums can rise if you have a history of filing claims. Additionally, if you have had breaks in coverage, your full coverage car insurance rates may go up.
Credit history: If your credit score is low, your insurance rates may be higher. In the states of California, Hawaii, Massachusetts, and Michigan, insurance companies are not allowed to consider credit history when setting rates.
Type of car: The price of full coverage car insurance is based on how much repairs cost, what kind of car you have, and how many claims you have had for that type of car in the past.
Deductible choice: Higher deductibles on your comprehensive and collision coverage can save you money. Uninsured motorist coverage, personal injury protection, and other forms of insurance may all carry deductibles in some states.

Cheap Full Coverage Car Insurance

Cheap Full Coverage Car Insurance: Poor Credit

When determining a driver’s premium, a credit-based insurance score considers that person’s credit history. When it comes to car insurance, having bad credit usually means you will pay more, even if you only have the bare minimum coverage. But even if you have bad credit, you can still find cheap full coverage car insurance. To get the cheapest car insurance, all you have to do is compare rates.

If you are shopping for a large auto insurer but have bad credit, Geico may be a good option. If you are a good driver with bad credit, you can get average rates of $2,895 with this company.

Cheap Full Coverage Car Insurance: After an Accident or Speeding Ticket

Getting a traffic ticket or being involved in an accident will likely result in a hike in your car insurance premium. Your unique driving history, the state, and the insurance provider will all influence how much your auto insurance increases following an accident.

USAA provides the most affordable full coverage auto insurance following an injury or property damage collision. In addition, USAA offers the lowest full coverage auto insurance rates ($2,054 if you have a history of speeding tickets). If you can not get car insurance through USAA, check out the rates offered by Auto-Owners and Geico.

Best Cheap Full Coverage Car Insurance Companies

#1. USAA

Only active duty military, veterans, and their families are eligible for auto insurance policies through USAA, despite the company’s competitive rates and comprehensive coverage. USAA serves customers in all 50 states plus the District of Columbia.

USAA offers the most affordable full-coverage car insurance, at just $234 per month on average. Overall, USAA is one of the cheapest full coverage companies for teens, seniors, and young drivers.

Unfortunately, USAA insurance is only available to veterans, active-duty service members, and their families, but if you fall into one of those categories, you are in for a treat. Additionally, USAA offers lower deployment costs for service members assigned to any location in the world. Furthermore, USAA provides additional choices such as additional passenger protection and rideshare coverage.

#2. Auto-Owners

Discounted rates for full coverage are available to car owners, and the company receives fewer complaints from them than average. The Auto-Owners Insurance Group provides auto insurance in 26 states. To help you save money, Auto-Owners offers 13 different discounts that can bring your annual premium down to an affordable level from the average $239. Not only does Auto-Owners offer competitive pricing, but AM Best has given them the highest possible financial stability rating.

#3. Geico

Geico’s full coverage rates are among the best, and the company receives fewer complaints than most of its rivals. Every single one of the 50 states and the District of Columbia can get car insurance from Geico. Full insurance policies from Geico start at just $1,716 annually, and that is before you apply any of the company’s 17 available discounts. The editors at WalletHub highlight how drivers can save money by bundling their auto and home insurance through Geico, as well as how easy the company makes filing a claim.

#4. Travelers

When compared to rivals, Travelers‘ full coverage rates are competitive and customer complaints are low. You can get car insurance from Travelers in 42 states and Washington, D.C. It has a lot of coverage options, is financially stable, and lets you file claims online. Auto-pay discounts, electric vehicle discounts, and safe driver discounts are some of the ways to save. $1,852 a year

You can tailor your policy in a variety of ways with Travelers. Additional coverages, such as gap insurance and accident forgiveness, are available.

#5. State Farm

State Farm is the most cost-effective insurance provider in the United States. Full coverage auto insurance from State Farm is the most affordable option at just $1,431 annually. State Farm’s has an easy-to-use claims process, nationwide availability, and extensive discount options. State Farm’s rates are not the lowest you can find, but they are still reasonable when you factor in any applicable discounts.

The biggest auto insurance provider in the US is State Farm. Its price estimates are typically lower than those of other national and even some regional competitors. It is also well-known for its consistent quality of service to customers. J.D. Power reports that State Farm has the fewest complaints from customers and the highest satisfaction with its claims process.

#6. Erie Insurance

When it comes to comprehensive insurance policies, Erie offers some of the lowest prices in the country and is widely regarded for its superior customer service. Although Erie is a reliable provider, it is only accessible to residents of 12 states (primarily in the East and the Midwest).

How Much Is Full Coverage Insurance a Month

Full coverage auto insurance policies cost about $2,155 annually on average in the United States. Most people can find affordable full coverage auto insurance with USAA, Auto-Owners, or Geico. Full coverage car insurance premiums can vary widely depending on where you live. There are several factors to consider besides cost when picking an insurance provider. Most times, the most reliable full-coverage insurance companies are not the least expensive.

Cheap Full Coverage Car Insurance for New Drivers

Auto insurance can be very costly for new drivers. If you are under the age of 25, it can be challenging to qualify as a “young driver” by an insurance company. Your insurance premiums will be higher than those of a more seasoned motorist because you pose more of a risk on the road.

Erie is a regional insurance provider primarily active in the Northeast and Midwest; however, they may be a good choice for you. Finding cheap car insurance for young drivers is difficult, but our research shows that Erie is one of the more affordable options. Customer service is another area in which the company excels.

Erie has the most affordable average premium for adding a 16- or 17-year-old driver to a parent’s policy. A 16-year-old driver and their parents can expect to pay an annual average of $4,059.

How to Find the Lowest Full Coverage Car Insurance

#1. Consider How Much Coverage You Need

When you have met your state’s minimum coverage requirements, you have the option of purchasing further coverage at your own expense. To safeguard yourself against the financial fallout from an accident, your liability limits ought to be roughly equivalent to your assets.

#2. Set a Deductible That Fits Your Budget

The deductible on your auto insurance policy is the portion of a claim that you will pay out of pocket before your insurer pays anything. Your premiums will be lower if you agree to a higher deductible, but make sure it is an amount you can still comfortably afford.

#3. Shop Around

Insurers set rates in a variety of ways depending on variables like risk, location, and vehicle type. Getting multiple estimates allows you to find the most cost-effective choice.

#4. Check for Discounts

There are many discounts available from auto insurance providers, such as those for safe drivers, safe vehicles, and defensive driving courses.

#5. Explore Local Car Insurance Businesses

Occasionally, local auto insurance companies offer more affordable premiums than national ones. Local and regional insurance providers may be more familiar with the hazards and requirements of drivers in their area, allowing them to provide more affordable, specifically designed policies. Also, their operational expenses might be lower than those of large national insurers.

What Does Full Coverage Mean?

Full coverage means that you are protected from all kinds of risks. It includes liability insurance and other types of coverage like collision insurance, comprehensive insurance, MedPay, and personal injury protection.

What Is the Cheapest Full-Coverage Car Insurance?

State Farm. The cheapest full-coverage auto insurance is offered by State Farm. Our research shows that Geico has the most affordable policies, despite State Farm’s better coverage and higher customer satisfaction ratings.

What Is the Best Full-Coverage Car Insurance?

Fully comprehensive car insurance is the least expensive from USAA, Auto-Owners, and Geico. State Farm has the lowest price among the nation’s biggest insurers.

Is USAA Only for the Military?

Yes. To qualify for USAA car insurance, you must be either actively serving in the military or a veteran of the armed forces.

Is Full Coverage the Most Expensive?

A policy with comprehensive coverage will cost more than one with only liability coverage. Most of the time, rates are lower when the deductible is higher and the limit is lower. Fully comprehensive insurance costs 2.5 times as much as basic liability insurance.

Is It Better to Have Full Coverage?

If you want to protect yourself financially, you should get full coverage auto insurance rather than just the bare minimum required by your state.

Full coverage may be worth considering even if you already own your car. Full coverage auto insurance may be worth the extra money if you cannot afford to repair your car after an accident in which you were at fault or replace it without incurring significant debt.

Why Is Full Coverage Better?

In the event of an accident in which you are at fault, hitting an animal, or being vandalized, full coverage insurance will pay for the repairs. When a policyholder has full coverage, he is always compensated for any damage done to his vehicle.

What Does Full Coverage Usually Cover?

If you have full coverage auto insurance, you are covered for both property damage and bodily injury in addition to liability. Coverage under this policy extends to both your vehicle and any other vehicles or people you may inadvertently cause harm to.

When Should You Not Get Full Coverage?

You plan to get a new car if repairs cost too much. Your comprehensive insurance policy’s deductible exceeds the car’s worth. Old If your vehicle is older than ten years, switching from comprehensive to liability-only insurance will typically result in cost savings.

When Should You Stop Full Coverage?

The market value of your car is low: If your car is only worth a few thousand dollars, you may want to forego comprehensive insurance in addition to collision.

Conclusion

A full coverage policy also covers anything else your state needs. Such protections include personal injury protection and uninsured motorist coverage. It is always important to compare prices from multiple companies before choosing the most affordable option. Keep in mind that the least expensive comprehensive plan is not necessarily the best.