Best Car Insurance Companies of January 2024
Best Car Insurance Companies of January 2024 ,The top auto insurance provider for 2024 is Travelers, followed by Auto-Owners and American Family. Locating the “best” auto insurance providers might be comparable to attempting to assemble a jigsaw puzzle while blindfolded. Fortunately, we’ve assembled the parts for you.
To identify the top auto insurance providers, NerdWallet’s editorial team took into account factors including cost, special offers, National Association of Insurance Commissioner complaint statistics, and more. This list of the top vehicle insurance providers may vary as we assess additional insurers and obtain updated market information. For additional information, view our complete process.
Travelers
Travelers provides a wide choice of savings and coverage options to enable you to personalize your auto insurance policy.
Of the insurers we ranked, Travelers has the highest overall score for 2024, making it to the top of our list. Because firms who prioritize their customers through features and practices are rewarded in our vehicle insurance ratings, this category offers a good overall option for drivers looking for a comprehensive insurance provider.
Travelers offers all the typical choices for auto insurance as well as optional features like gap insurance and new car replacement coverage, which are helpful if you drive a relatively new car. A variety of auto insurance discounts are also provided by Travelers.
NJM
New Jersey Manufacturers Insurance, or NJM, is the best car insurance company when it comes to your wallet. According to our analysis, NJM’s average rate for full coverage insurance is $119 per month, the lowest out of our list of the best car insurance companies.
However, NJM auto insurance is only available in Connecticut, Maryland, New Jersey, Ohio and Pennsylvania. Drivers in other states may be able to find low rates with Auto-Owners or Travelers. These companies were runners-up in having the cheapest full coverage insurance among our list of best insurance companies.
Geico
Geico is a well-liked and frequently economical option for auto insurance because of its accessibility across the country and large range of discounts.
In order to prevent rate increases and the loss of your good driver discount following an accident, Geico provides two possible routes to accident forgiveness. If you don’t have any accidents for five years as a Geico customer, you can either pay for it or receive it for free. Any qualifying driver on your policy may use accident forgiveness; however, Massachusetts, Connecticut, and California are the only states where it isn’t.
American Family
Although it doesn’t provide policies in every state, American Family provides a broad range of coverage, including gap and ridesharing insurance.
Compared to firms of a similar size, American Family received much less complaints from customers regarding auto insurance, and it received the fewest complaints of all the insurers on our list of the best companies for 2024.
On its primary website, the business highlights its Facebook user reviews. Additionally, it invites users to share their thoughts and problems via a variety of customer service channels, such as email, phone, and website feedback.
Auto-Owners Insurance
Bundling multiple insurance policies with Auto-Owners, a company with a wide range of coverage options and little client complaints, can be convenient and offer discounts to individuals in need of many policies.
One of the most crucial aspects to take into account when selecting an insurer is the financial stability of the business, as this reflects its capacity to settle claims. NerdWallet relied on AM Best’s financial strength rating for this area, which assesses an insurer’s capacity to fulfill its obligations under contracts and policies. Auto-Owners demonstrates a solid financial foundation and the capacity to settle insurance disputes.
Amica
Amica is a fantastic option for safe drivers due to its high customer satisfaction ratings and low number of client complaints.
Amica might be worth considering if you want to reduce the cost of your auto insurance. Compared to most other insurers, the company offers greater discounts, such as those for taking a defensive driving course, owning a property, insuring several vehicles, and setting up automatic payments. Just bear in mind that the business offering the greatest discounts isn’t always the cheapest. See NerdWallet’s study of the most affordable auto insurance for that.
Different types of car insurance
Learn about the many forms of auto insurance coverage while you search for the best rates so you can decide what kind of coverage to get.
If finding the best deal is your only concern, you might want to look into basic coverage auto insurance. The bare minimum of insurance required by your state to drive legally is known as minimum coverage.
However, after your insurance pays out, you might have to pay for any damage you do out of pocket because it usually isn’t enough to cover damage from a serious accident. You cannot get minimum coverage if you damage your own vehicle.
Select full coverage insurance for more financial security. Although the term “full coverage” auto insurance is not widely used, it usually refers to comprehensive and collision insurance in addition to the minimal requirements set forth by your state.
Although full coverage is more expensive than basic coverage, the added peace of mind can make the difference in cost. Your auto insurance certainly already includes complete coverage if you’re financing or leasing your vehicle.
Remember that geography plays a significant role in determining the cost of your car insurance when looking for the best provider.
NerdWallet examined full coverage insurance rates and minimum coverage rates for 35-year-old drivers with outstanding credit who haven’t had any recent accidents, DUIs, or moving infractions to help you get a better picture of what you’ll spend in each state.
Consider carefully what kind of coverage you require in order to locate the greatest vehicle insurance policy for you. For example, before purchasing a policy, ensure sure the provider offers the precise type of coverage you’re searching for, like ridesharing insurance.
To compare prices equitably, choose the same coverage levels when comparing insurers. Examine a company’s financial stability using a rating service such as AM Best, as well as consumer complaints on the website of your state’s insurance commissioner. Remember the smaller insurance providers as well.
The amount of auto insurance you require is determined by your particular financial and personal situation. However, basic coverage auto insurance could be a good option if cost is your only concern. This covers nothing more than the bare minimum of insurance needed to drive in your state. Look into full coverage insurance if you’d like more financial security.
According to NerdWallet’s analysis, the average monthly cost of auto insurance for a 35-year-old motorist with a clean driving record, decent credit, and full coverage insurance is roughly $165.