Shopping for cheap full coverage car insurance? CarInsurance.com ran the numbers and found the cheapest insurers when it comes to a policy that includes comprehensive and collision coverage.
Full coverage car insurance protects your vehicle from collisions, weather, fire, theft and animal strikes – without it, you will be on the hook for repairs to your vehicle in an at-fault collision or any non-collision damage.
Consumers can get full coverage car insurance for around $100 a month from auto insurers like Nationwide, USAA, GEICO, American Family and Auto-Owners.
CarInsurance.com Insights
- Nationwide offers the cheapest full coverage auto insurance at $99 per month.
- Residents of Ohio, Idaho, Vermont, Maine and Indiana pay the least for car insurance in the U.S. – less than $100 per month.
- Residents of Michigan, New York and Los Angeles pay the most for car insurance when it comes to the largest cities in the U.S.
Which companies offer the cheapest full coverage auto insurance?
So, which companies offer cheap full coverage car insurance? According to 2022 data, Nationwide had the cheapest full coverage car insurance company among major national insurers.
USAA, GEICO, American Family and Auto-Owners all offer policies for less than $120 per month for full coverage. Note that USAA is only available to members of the military, veterans and their families.
The insurance companies listed below offer the cheapest average full coverage rates but remember – your coverage needs and specific driver profile will impact insurance costs, so your premium may be higher or lower than the average.
See full coverage rates from major insurers in the chart below.
| Company | Avg. Annual Rates | Avg. Monthly Rates |
|---|---|---|
| Nationwide | $1,190 | $99 |
| USAA | $1,192 | $99 |
| GEICO | $1,266 | $106 |
| American Family | $1,362 | $113 |
| Auto-Owners | $1,406 | $117 |
| State Farm | $1,436 | $120 |
| Travelers | $1,488 | $124 |
| Progressive | $1,686 | $141 |
| Farmers | $1,980 | $165 |
| Allstate | $2,086 | $174 |
How much does full coverage car insurance cost in each state?
Rates for full coverage car insurance depend on various factors, including your state of residence. Residents of Ohio, Idaho, Vermont, Maine and Indiana pay the least for car insurance with monthly premiums of less than $100.
On the other end of the spectrum, Florida residents pay the most for car insurance, followed by drivers in Louisiana, Michigan, Delaware and California. See average full coverage car insurance costs by state in the table below.
| State | Avg. Annual Rates | Avg. Monthly Rates |
|---|---|---|
| Ohio | $996 | $83 |
| Idaho | $1,052 | $88 |
| Vermont | $1,102 | $92 |
| Maine | $1,122 | $93 |
| Indiana | $1,184 | $99 |
| Washington | $1,203 | $100 |
| Oregon | $1,217 | $101 |
| Virginia | $1,227 | $102 |
| New Hampshire | $1,266 | $105 |
| Pennsylvania | $1,256 | $105 |
| North Dakota | $1,295 | $108 |
| Hawaii | $1,306 | $109 |
| Tennessee | $1,311 | $109 |
| Iowa | $1,321 | $110 |
| North Carolina | $1,324 | $110 |
| Wisconsin | $1,325 | $110 |
| Alaska | $1,359 | $113 |
| Illinois | $1,384 | $115 |
| Arkansas | $1,420 | $118 |
| Utah | $1,414 | $118 |
| Alabama | $1,442 | $120 |
| Arizona | $1,484 | $124 |
| Minnesota | $1,482 | $124 |
| Maryland | $1,504 | $125 |
| Mississippi | $1,498 | $125 |
| New Mexico | $1,509 | $126 |
| Kansas | $1,526 | $127 |
| Massachusetts | $1,528 | $127 |
| West Virginia | $1,528 | $127 |
| Georgia | $1,555 | $130 |
| South Dakota | $1,581 | $132 |
| Wyoming | $1,659 | $138 |
| Oklahoma | $1,692 | $141 |
| Rhode Island | $1,717 | $143 |
| Connecticut | $1,741 | $145 |
| Montana | $1,751 | $146 |
| Texas | $1,794 | $149 |
| Colorado | $1,804 | $150 |
| Washington, D.C. | $1,858 | $155 |
| Kentucky | $1,864 | $155 |
| South Carolina | $1,894 | $158 |
| New Jersey | $1,910 | $159 |
| Nevada | $1,969 | $164 |
| Missouri | $1,984 | $165 |
| Nebraska | $1,976 | $165 |
| New York | $2,020 | $168 |
| California | $2,110 | $176 |
| Delaware | $2,111 | $176 |
| Michigan | $2,158 | $180 |
| Louisiana | $2,487 | $207 |
| Florida | $2,517 | $210 |
How much does full coverage car insurance cost in large U.S. cities?
Annual full coverage car insurance rates vary widely among the nation’s top 25 largest cities by population. The largest city, New York, NY, has an average monthly premium of $327.
In the table below, see the average annual and monthly rates for car insurance in the 25 largest U.S. cities.
| Rank | State | City | Population | Avg. Annual Rates | Avg. Monthly Rates |
|---|---|---|---|---|---|
| 1 | New York | New York | 84,67,513 | $3,924 | $327 |
| 2 | California | Los Angeles | 38,49,297 | $2,914 | $243 |
| 3 | Illinois | Chicago | 26,96,555 | $1,967 | $164 |
| 4 | Texas | Houston | 22,88,250 | $2,144 | $179 |
| 5 | Arizona | Phoenix | 16,24,569 | $1,859 | $155 |
| 6 | Pennsylvania | Philadelphia | 15,76,251 | $2,276 | $190 |
| 7 | Texas | San Antonio | 14,51,853 | $1,857 | $155 |
| 8 | California | San Diego | 13,81,611 | $2,035 | $170 |
| 9 | Texas | Dallas | 12,88,457 | $2,098 | $175 |
| 10 | California | San Jose | 9,83,489 | $2,070 | $172 |
| 11 | Texas | Austin | 9,64,177 | $1,770 | $147 |
| 12 | Florida | Jacksonville | 9,54,614 | $2,461 | $205 |
| 13 | Texas | Fort Worth | 9,35,508 | $1,814 | $151 |
| 14 | Ohio | Columbus | 9,06,528 | $1,126 | $94 |
| 15 | Indiana | Indianapolis | 8,82,039 | $1,255 | $105 |
| 16 | North Carolina | Charlotte | 8,79,709 | $1,475 | $123 |
| 17 | California | San Francisco | 8,15,201 | $2,395 | $200 |
| 18 | Washington | Seattle | 7,33,919 | $1,442 | $120 |
| 19 | Colorado | Denver | 7,11,463 | $2,052 | $171 |
| 20 | Texas | El Paso | 6,78,415 | $1,788 | $149 |
| 21 | Massachusetts | Boston | 6,54,776 | $1,902 | $158 |
| 22 | Nevada | Las Vegas | 6,46,790 | $2,638 | $220 |
| 23 | Oregon | Portland | 6,41,162 | $1,513 | $126 |
| 24 | Michigan | Detroit | 6,32,464 | $5,370 | $448 |
| 25 | Tennessee | Memphis | 6,28,127 | $1,672 | $139 |
Cheapest full coverage car insurance, by age group
Teens aged 16-19 pay the most for full coverage car insurance, which is no surprise given their higher crash rates. Young adults aged 20-24 pay the next-highest rates with adults 25 and older and seniors paying lower rates overall for full coverage – $137 per month for adults and $133 per month for seniors.
See full coverage rates at different age levels in the table below.
| Age group | Avg. Annual Rates | Avg. Monthly Rates |
|---|---|---|
| 16-19 (Teens) | $5,492 | $458 |
| 20-24 (Young Adults) | $2,697 | $225 |
| 25-55 (Adults) | $1,645 | $137 |
| 60-75 (Seniors) | $1,598 | $133 |
Check out our detailed guide on average car insurance rates by
Cheapest full coverage car insurance by credit score
Not all states allow credit scores to be factors in car insurance rates, but rates in the states that do allow credit as a factor show that having poor credit makes a big difference in how much you’ll pay for car insurance.
States that disallow credit as a rating factor are California, Hawaii, Michigan and Massachusetts. See annual rates at different credit categories for full coverage car insurance from major insurers in the table below.
| Company | Good credit | Fair credit | Poor credit |
|---|---|---|---|
| State Farm | $1,672 | $2,196 | $4,264 |
| GEICO | $1,352 | $1,615 | $2,272 |
| Allstate | $2,513 | $3,012 | $4,118 |
| USAA | $1,272 | $1,488 | $2,424 |
| Progressive | $1,933 | $2,496 | $3,364 |
| Nationwide | $1,523 | $1,631 | $2,042 |
| Travelers | $1,882 | $2,252 | $3,254 |
| Farmers | $2,740 | $3,213 | $4,916 |
| Auto-Owners | $1,651 | $1,988 | $3,544 |
| American Family | $1,738 | $2,016 | $3,125 |
Check out our experts’ recommendations on how to get cheap car insurance with bad credit
How do you find cheap full-coverage car insurance?
Comparison shopping is the best way to get full coverage car insurance online. No two car insurance providers have identical prices for the same policy. Instead, costs vary significantly from one company to another as insurers rate risk differently, so comparing rates is one of the best ways to save on coverage.
Richard Estrella, director of operations at Miami-based Estrella Insurance, recommends getting quotes from insurers every renewal period or every other renewal.
“Remember, also, that insurance companies sometimes adjust their premiums several times a year and typically never less than once a year. Therefore, it’s very possible that your insurer, which may have been the cheapest at the time you purchased coverage, is now more expensive,” Estrella says.
How can I get the cheapest full-coverage car insurance?
Here are a few tips when you’re shopping for a full-coverage insurance policy:
- Compare identical deductible amounts and liability limits.
- See what add-on coverages are available, such as roadside assistance.
- Always use the same basic information, such as the listed drivers.
- Ensure you get all the auto insurance discounts you’re eligible to receive.
- Compare full coverage car insurance quotes from at least three insurers.
- Maintain good credit.
“We recommend you get a minimum of three quotes from a mix of national and regional carriers to compare prices,” says Mark Friedlander, director of corporate communications for the Insurance Information Institute in St. Johns, Florida. “You can also lower your car insurance rates by raising your deductible on comprehensive and collision coverages and bundling your coverage by taking advantage of multi-policy discounts.”
Don’t forget to cancel your old policy after you’ve signed your new policy. Always make sure to set the cancellation date of your old policy after the start date of your new one so there are no coverage gaps.
Lower your car insurance rates: Save money with 10 proven tips
How does the cost of full coverage compare to liability only?
Liability-only insurance is only a good idea if you are driving a low-value vehicle that’s not worth the cost of full coverage insurance or one that you could afford to repair or replace yourself. In most cases, you must own the vehicle outright. If you have a loan or lease on your vehicle, your lender will require you to carry full coverage to protect their investment in your vehicle.
Full coverage costs more, but if your car is damaged or destroyed, regardless of fault, it will be repaired or replaced; liability only provides zero coverage for your own vehicle.
A full coverage policy will cost roughly 62% more than a 50/100/50 liability-only policy and 70% more than a state minimum liability-only policy. This breaks down to $1,124 a year more than the state minimum policy and $1,004 more than the more robust liability-only policy.
While this may seem a bit pricey at first glance, it translates into $84 more monthly, which will be well worth it if your car is severely damaged or destroyed.
If you are carrying liability only, you will be on the hook for all costs to repair or replace your vehicle if it is damaged or destroyed in an accident or by a weather incident. In most cases, you should not carry liability-only coverage unless your vehicle is nearing the end of its life or you can easily afford to repair or replace it.
| Company | State Minimum | Liability Only | Full Coverage |
|---|---|---|---|
| State Farm | $432 | $545 | $1,436 |
| GEICO | $326 | $423 | $1,266 |
| Allstate | $555 | $668 | $2,086 |
| USAA | $294 | $369 | $1,192 |
| Progressive | $551 | $682 | $1,686 |
| Nationwide | $495 | $589 | $1,190 |
| Travelers | $531 | $642 | $1,488 |
| Farmers | $632 | $856 | $1,980 |
| Auto-Owners | $355 | $445 | $1,406 |
| American Family | $563 | $625 | $1,362 |
| Kemper Insurance | $694 | $869 | $2,422 |
| Mercury Insurance | $719 | $916 | $2,167 |
| Erie Insurance | $334 | $386 | $1,254 |
Note:
- State Minimum: State minimum liability only
- Liability Only: 50/100/50 liability only
- Full Coverage: 100/300/100 liability with $500 comprehensive/collision deductible
How can I save on my full coverage auto insurance policy?
Here are a few tips to help keep your full coverage car insurance affordable:
- Keep a clean driving record: Keeping your driving record (and everyone on the policy) clean will help lower your rates. Tickets and accidents will result in a significant premium increase.
- Drive a safe car: Insurers love advanced safety features that help the driver avoid accidents that result in a claim. You usually pay less for coverage if you have a vehicle with safety features.
- Drive less: The less time you spend on the road, the fewer chances you have to get into an accident, which can result in a lower premium. Check with your insurer to see if they offer a low mileage discount.
- Raise your deductible: If you can afford to raise your deductible, you should see a drop in your premium. Doubling your deductible can result in a lower cost, but always choose a deductible you can easily afford if you have to make a claim.
- Be a loyal customer: While shopping for coverage regularly is a great way to lower your premium, if you have been with the same insurer for years, they should offer you a loyal customer discount. Check with your insurer to see if they offer this discount.
FAQs
What’s the average cost for full coverage car insurance?
Nationwide, the average annual premium for full coverage car insurance with 100/300/100 liability limits and $500 comprehensive and collision deductibles is $1,124.
Do I need comprehensive and collision?
Full coverage car insurance is particularly beneficial for drivers with a new or expensive vehicle, as it protects against damage and loss. It’s essential for those leasing or financing their car since most lenders require comprehensive and collision coverage.
What is full coverage auto insurance with no down payment?
Full coverage auto insurance with no down payment is a phrase used in insurance marketing to indicate that you only have to pay the first month’s insurance upfront—but you still have to make an initial payment.
How does full coverage car insurance differ from state minimum liability-only car insurance?
While state minimum liability only covers damages or injuries you cause to others in an accident at the minimum limits allowed in your state, full coverage includes comprehensive and collision insurance and typically, higher limits on your liability coverage. Full coverage safeguards your vehicle against damages from incidents like theft, vandalism, or collisions, regardless of fault.
Resources & Methodology
Methodology
CarInsurance.com editors collected rates from Quadrant Information Services for a 40-year-old male driving a Honda Accord LX with a good insurance score and no violation on record for a full coverage insurance policy with limits 100/300/100 and $500 comprehensive and collision deductible. We analyzed 56,838,240 quotes, 34,523 ZIP codes and 136 insurance companies nationwide.
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