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The best car insurance companies are State Farm, USAA, Geico, Erie and Travelers based on cost, coverage, reputation, availability and service
Best Car Insurance In California 2020
Choosing the best auto insurance provider for you can be daunting. That’s why we at the Home Media review team have done the work for you. In this article, we have selected the top 10 auto insurers in the industry and provided an in-depth analysis of the top five auto insurers.
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Why Trust Our Team The Home Media Reviews team is dedicated to providing you with reliable information to help you make the best possible decision about your auto insurance. Our researchers, writers and editors are dedicated to vetting vendors and analyzing customer feedback and insights so you can choose with confidence.
After thoroughly researching the auto insurance market and evaluating each company’s reputation, availability, coverage options, discounts and customer experience, 10 companies stand out from the competition as the best auto insurers.
When ranking these insurers, our team considered state availability, coverage coverage, pricing, and satisfaction scores from experts like J.D. power.
We also consider AM Best’s financial strength ratings and claims volume, as reported by the National Association of Insurance Commissioners (NAIC). Each insurer is rated on a 10-point scale.
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Our top five picks for the best car insurance are State Farm, USAA, Geico, Erie and Travelers. In the sections below, we provide a more detailed assessment of each of these providers:
Pros Wide selection of coverage options Offers discounts for many types of drivers Average rates for full coverage are about 14% cheaper than the national average Score 4.2 out of 5.0 for overall satisfaction with our car insurance customer survey Cons Mixed customer reviews at BBB
Our cost estimates show that good drivers pay an average of about $1,481 a year for full coverage State Farm insurance. This ranks State Farm among the most affordable domestic providers.
State Farm is another solid choice when it comes to finding the best auto insurance in the industry. Our January 2022 insurance survey found that insurer was the most popular provider among 1,000 respondents surveyed, with 13% saying they purchased insurance coverage from State Farm.
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As the nation’s largest auto insurer, State Farm is no stranger to claims satisfaction – the company has an A++ financial strength rating from AM Best. According to the NAIC, State Farm accounted for 16.01% of the auto insurance market share in 2021. State Farm also had fewer claims than the industry average in 2020, although BBB customer ratings were mixed.
We chose State Farm as one of the nation’s top auto insurers, in part because of the usage-based and safe-driving discounts it offers young drivers. There are two discount programs available through mobile apps:
Other State Farm auto insurance discounts include those for high scores, safe driving, defensive driving, vehicle safety features, and driving course completion. The company does not offer a military discount.
Pros Affordable pricing High performance in customer surveys J.D. Power Highly rated mobile app Financial rating A++ Cons Not available everywhere SafePilot only available in 25 states Not the cheapest option after a DUI
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USAA is known for its affordability. It offers the cheapest car insurance on average compared to any other provider we researched. Our rate estimates show that good drivers pay about $1,054 a year, on average, for full-coverage car insurance with USAA. The company also offers discounts based on driver safety, different policies, safety features like airbags, and more.
USAA is our second choice for the best auto insurance in the country. He regularly leads J.D. Power as one of the best providers in terms of customer satisfaction and value. The company is known for its high customer ratings and affordable coverage options, including accident forgiveness. However, it has strict eligibility requirements and not everyone qualifies for coverage.
USAA auto insurance is only available to military personnel, veterans and their families, which greatly restricts who can purchase coverage. If you qualify for a USAA insurance policy, this is one of the best options available. In addition to the standard types of auto insurance, USAA offers the following optional coverage:
USAA received an A++ financial strength rating from AM Best and an A+ rating from the Better Business Bureau (BBB). The auto insurer will account for 6.04% of the market share in 2021, according to the NAIC. Although not the largest auto insurer, USAA still has respectable financial strength. In 2021, the company recorded $15.73 billion in private passenger car insurance premiums.
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Although USAA doesn’t have many physical locations, policyholders are still impressed with the company’s customer service. USAA scored the highest in J.D. Power 2022 U.S. Auto Insurance Study SM in all US regions, although it is not rated due to its eligibility criteria. And in our January 2022 car insurance survey, nearly 65% of 107 respondents with USAA coverage said they were very satisfied with USAA insurance, the highest of any provider.
USAA is also known for its affordability. It offers the cheapest car insurance on average compared to any other provider we researched. Our rate estimates show that good drivers pay about $1,054 a year, on average, for full-coverage car insurance with USAA. The company also offers discounts based on driver safety, different policies, safety features like airbags, and more.
Pros AM Best A++ financial strength rating and BBB A+ rating Low rates for most drivers High policy limits Insurance discount based on usage Cons Average J.D. Claim ratings Not always cheapest for people with bad credit or recent accidents Fewer local agents than other companies
Geico fees are some of the most affordable we’ve seen. Our rate estimates show that drivers pay about $1,308 a year on average for full-coverage Geico car insurance. These rate estimates apply to people age 35 and older with good credit and driving records. Our estimates place Geico in the top three companies for accessibility compared to other domestic providers.
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If you don’t qualify for USAA insurance coverage, it’s worth considering Geico as your best option. The company offers reputable service, a wide selection of coverages and cheap car insurance rates according to our rate estimates.
Geico received an A++ (Superior) rating from AM Best, which means the company has the financial backing to pay customers’ insurance claims. A larger auto insurer like Geico has more financial stability compared to a smaller local company.
Geico also has a strong reputation for customer service. According to J.D. Power Auto Insurance Study, Geico performed better than average in all regions except the Mid-Atlantic, Southwest and Texas. The study surveyed customers on their satisfaction with complaints, billing, pricing, policies, and more. Additionally, our January 2022 insurance survey, which surveyed 1,000 respondents, found that nearly 12% chose Geico as their insurer.
As for cost, Geico’s fees are some of the most affordable we’ve seen. Our rate estimates show that drivers pay about $1,308 a year on average for full-coverage Geico car insurance. These rate estimates apply to people age 35 and older with good credit and driving records. Our estimates place Geico in the top three companies for accessibility compared to other domestic providers.
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In addition, the insurer offers several ways to save money, including a good driver discount (up to 26% discount), a good student discount (up to 15% discount) and a discount on multiple vehicles (up to 25% off) .
Pros Strong industry rating Wide selection of car insurance coverage options Many car insurance discounts available Cons Not available in all states No usage-based insurance options
According to our research, Erie offers one of the cheapest average annual rates in the country, costing $1,238 per year for a full-coverage policy. The insurer offers many discounts in addition to having cheaper-than-average car insurance rates, including savings for in-school drivers, multi-car drivers, and stay-at-home drivers no accident.
Erie offers a solid option for young drivers (up to 21 years old) as well as drivers with a variety of vehicle types. The insurer offers the following in addition to standard car insurance:
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Erie has an AM Best rating of A+ for its ability to pay insurance claims. The insurer’s customer service is also highly regarded, as evidenced by its TrustPilot customer rating of 3.3. In J.D. Power U.S. Insurance Shopping Study of 2022, Erie received a score of 878 points out of a possible 1,000 points. It ranks second among medium-sized insurers.
Pros Financial Strength Rating A++ and BBB Rating Multiple Discount Opportunities for Drivers Offers Accident Forgiveness Coverage Cons Outdated Mobile App
According to our research, travelers insurance is slightly less expensive than the national average, averaging $1,669 per year for a full-coverage policy. Auto insurers offer several discounts, including savings for homeowners, gifted students and drivers who remain accident-free.
Travelers can
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