Cheapest Full Coverage Car Insurance of 2024
Key Takeaways
- State Farm stands out as the most affordable option for full coverage car insurance, offering competitive rates and high customer satisfaction ratings.
- Your demographic could change which insurer is the cheapest for you. For example, Geico is the most affordable option for seniors and families with multiple vehicles, but State Farm is ideal for teenagers and high-risk drivers.
- When purchasing car insurance, consider the types of coverage available, potential premium costs, policy exclusions, and discounts you may qualify for to make an informed decision best suited to your needs.
While full coverage car insurance is a commonly used phrase, there’s no one-size-fits-all definition in the auto insurance industry. Instead, this coverage refers to several protections for your vehicle, including liability, comprehensive, and collision coverage that exceeds the state minimum requirements.
The best cheap full coverage car insurance companies provide cost-effective coverage that helps drivers meet state coverage requirements. It also helps lenders if they finance or lease the vehicle.
In this guide, we’ll look at the most affordable full coverage car insurance providers and highlight those offering their customers the best benefits and perks.
- Best Overall Cheap Full Coverage Car Insurance: State Farm »
- Best for Seniors: Geico »
- Best for Teenage Drivers: State Farm »
- Best for Families with Multiple Cars: Geico »
- Best for High-Risk Drivers: State Farm »
Best Overall: State Farm
Pros:
- Some of the lowest sample rates for full-coverage car insurance available
- High customer satisfaction scores
Cons:
- Can’t buy coverage online; must work with local agent
- New policies aren’t available in Massachusetts
State Farm is one of the largest providers of consumer insurance in the United States – particularly auto insurance – and it regularly ranks at the top of J.D. Power surveys for customer satisfaction. It also has some of the cheapest sample rates for a full-coverage policy, based on our research: $1,279 per year versus national average of $1,556 per year. Only USAA’s average rates are lower, but their coverage is only available to members of the military and their families.
When it comes to cheap full coverage auto insurance, State Farm offers users an easy, accessible option to get the coverage they need to meet the requirements of their states and/or lenders. While users can’t bind coverage online, State Farm has a nationwide network of agents standing by to help customers find the coverage they need, answer any questions, and service existing policies.
Specs:
Coverage types:
- Collision
- Comprehensive
- Liability
- Car rental and travel expenses
- Uninsured motor vehicle
- Medical payments
- Emergency road service
- Rideshare driver
Deductibles:
- N/A
Additional coverage options:
- Motorcycle insurance
- Boat insurance
- Motorhome insurance
- Off-road vehicle insurance
Discounts and savings:
- Drive Safe & Save
- Steer Clear
- Accident-free
- Defensive driving course
- Good driver
Financial stability:
- A++ (Superior) rating from AM Best
Best for Seniors: Geico
Pros:
- Some of the cheapest rates on average for men and women
- Numerous discounts available
Cons:
- Drivers with a DUI on their records may find lower rates elsewhere
Among other carriers, Geico stands out in providing cheap full coverage for senior drivers. Geico averages just $1,134 annually for full coverage, compared to the national average of over $1,300 per year. Numerous discounts are also available which often help senior drivers specifically, including customer loyalty and going five years or more without an accident.
However, it’s worth noting that although Geico’s sample rates are relatively low for many drivers, our research finds that’s not always the case. For drivers who have a DUI on their records, Geico’s sample yearly rate is actually higher than the national average.
Specs:
Coverage types:
- Bodily injury
- Property damage
- Uninsured motorist
- Collision
- Comprehensive
- Medical
- Emergency roadside assistance
- Rental reimbursement
- Mechanical breakdown
Deductibles:
- N/A
Additional coverage options:
- Motorcycle/ATV
- RV
- Boat
- Collector Auto
- Mexico Auto
Discounts and savings:
- Air bag
- Anti-lock brakes
- Anti-theft system
- Daytime running lights
- New vehicle
- Five-year accident-free good driver
- Seat belt use
- Defensive driving
- Driver’s education
- Good student
- Emergency deployment
- Federal employee
- Military
- Multi-vehicle
- Multi-policy
Financial stability:
- A++ (Superior) rating from AM Best
Annual Rates for Senior Female Drivers
| Company | Annual Rate |
| USAA | $872 |
| State Farm | $1,134 |
| Geico | $1,153 |
| Travelers | $1,166 |
| Nationwide | $1,193 |
| National Average | $1,332 |
Annual Rates for Senior Male Drivers
| Company | Annual Rate |
| USAA | $876 |
| State Farm | $1,134 |
| Geico | $1,202 |
| Travelers | $1,211 |
| American Family | $1,217 |
| National Average | $1,376 |
Best for Teenage Drivers: State Farm
Pros:
- Sample rates for male and female teens are lower than the national average
- Multiple discounts available for young drivers and students
Cons:
- Must work with agent to receive quote, purchase policy
- Doesn’t do business in Massachusetts
State Farm’s sample rates for male and female teen drivers are: $3,280 per year for 17-year-old women and $4,019 per year for same-aged males. That’s lower than the national averages. And the company offers numerous discounts for young drivers and students, including Steer and Clear, where drivers 25 and under can save on their premiums by taking a safety course and maintaining a clean record for three years.
Unlike some companies, you must work with a local agent to get a quote and buy coverage, something that may or may not appeal to younger drivers who are accustomed to doing everything online. State Farm has agents nationwide, though it doesn’t write new auto policies in Massachusetts.
Specs:
Coverage types:
- Collision
- Comprehensive
- Liability
- Car rental and travel expenses
- Uninsured motor vehicle
- Medical payments
- Emergency road service
- Rideshare driver
Deductibles:
- N/A
Additional coverage options:
- Motorcycle insurance
- Boat insurance
- Motorhome insurance
- Off-road vehicle insurance
Discounts and savings:
- Drive Safe & Save
- Steer Clear
- Accident-free
- Defensive driving course
- Good driver
Financial stability:
- A++ (Superior) rating from AM Best
Average Annual Car Insurance Premiums For 17-Year-Olds
| Company | Females | Males |
| AAA | $5,221 | $6,297 |
| Allstate | $6,882 | $7,693 |
| American Family | $3,550 | $3,769 |
| Geico | $3,478 | $3,742 |
| Farmers | $8,178 | $8,911 |
| Nationwide | $4,957 | $5,977 |
| Progressive | $7,757 | $8,525 |
| State Farm | $3,280 | $4,019 |
| Travelers | $4,208 | $5,199 |
| USAA | $3,129 | $3,364 |
| National Average | $5,064 | $5,750 |
Note that HI is not included since their rates don’t vary by demographic.
Best for Families with Multiple Cars: Geico
Pros:
- Average annual rate for good drivers is lower than many competitors
- Can buy coverage online or by phone
Cons:
- Some drivers may find lower rates with other insurers
For drivers who want full coverage, Geico has some of the lowest annual rates: $1,250 per year versus the national average of $1,556 per year. The company also has competitive rates for teen drivers, drivers with poor credit, people seeking a minimum-coverage policy, and more. As with all sample rates, the amount you pay will be different and vary based on many factors, including each family member’s driving record.
Unlike some insurers we looked at, Geico allows customers to get a quote and purchase a policy online, which some people may appreciate, but you can also speak with a company representative to complete the transaction
Geico also earns great ratings from J.D. Power for usage-based coverage – wherein you agree to have your driving habits monitored by an app in exchange for lower rates – tying with Progressive and State Farm for top honors in the category. This may be beneficial for families with multiple cars that aren’t all consistently used throughout the year, or families where some members may not drive frequently or far from home.
Specs:
Coverage types:
- Bodily injury
- Property damage
- Uninsured motorist
- Collision
- Comprehensive
- Medical
- Emergency roadside assistance
- Rental reimbursement
- Mechanical breakdown
Deductibles:
- N/A
Additional coverage options:
- Motorcycle/ATV
- RV
- Boat
- Collector auto
- Mexico auto
Discounts and savings:
- Air bag
- Anti-lock brakes
- Anti-theft system
- Daytime running lights
- New vehicle
- Five-year accident-free good driver
- Seat belt use
- Defensive driving
- Driver’s education
- Good student
- Emergency deployment
- Federal employee
- Military
- Multi-vehicle
- Multi-policy
Financial stability:
- A++ (Superior) rating from AM Best
Best for High-Risk Drivers: State Farm
Pros:
- Offers coverage specifically aimed at high-risk drivers
- Excellent ratings for customer service and claims handling
Cons:
- Must work with an agent to bind coverage
High-risk drivers can have trouble finding full auto coverage, particularly from some of the larger insurers. State Farm is one of the few major insurance companies we looked at that offer a policy geared toward high-risk drivers. It also has some of the lowest rates on average for drivers with a speeding ticket, accident, or DUI on their record. In addition, State Farm earns high marks for customer service, based on a policyholder survey we conducted as part of our Best Car Insurance Companies rating.
State Farm offers new policies in every state except Massachusetts. Unlike some insurers, customers must work with a local agent to get a quote or purchase coverage.
Some high-risk drivers may be required to have their insurer file an SR-22 form on their behalf. Contact a State Farm agent for details on how to do this.
Specs:
Coverage types:
- Collision
- Comprehensive
- Liability
- Car rental and travel expenses
- Uninsured motor vehicle
- Medical payments
- Emergency road service
- Rideshare driver
Deductibles:
- N/A
Additional coverage options:
- Motorcycle insurance
- Boat insurance
- Motorhome insurance
- Off-road vehicle insurance
Discounts and savings:
- Drive Safe & Save
- Steer Clear
- Accident-free
- Defensive driving course
- Good driver
Financial stability:
- A++ rating (Superior) from AM Best
Annual Rates for Drivers With Full Coverage
| Company | Annual Rate |
| USAA | $1,022 |
| State Farm | $1,279 |
| Geico | $1,250 |
| Travelers | $1,355 |
| American Family | $1,383 |
| National Average | $1,556 |
Learn more about our rating of the Cheapest Car Insurance Companies.
The Bottom Line
For drivers who lease or finance their vehicles – or who live in states with mandated coverage minimums – full-coverage insurance helps protect the value of their car as well as potential liabilities if they get in an accident. The best cheap full coverage car insurance companies help drivers secure liability, comprehensive, and collision insurance to protect themselves, their vehicles, and other drivers on the road.
What is Full Coverage Car Insurance?
Full coverage car insurance is a comprehensive policy providing extensive protection for your vehicle. It is not a specific policy offered by insurers; however, it represents a combination of coverages beyond the minimum amount required by law. Full coverage policies can vary based on your insurance provider and the coverage you elect.
You may want to consider a full coverage policy if you own or lease a new or high-value car. Bear in mind that this level of coverage often comes at a higher cost, so you’ll want to weigh if full coverage benefits are worth the price.
What’s Included in a Full Coverage Insurance Policy?
Full coverage auto insurance provides the highest level of protection for your vehicle. Typically, it’ll consist of three coverages:
- Collision insurance. Collision coverage pays for damages to your vehicle when it collides with another object such as a lamp post, mailbox, or car.
- Comprehensive insurance. Comprehensive coverage kicks in when your vehicle has damages from something other than a collision. It would apply if a tree branch falls on your windshield, a fire, or a weather-related disaster damages your car, for example.
- Liability insurance. Your liability coverage includes bodily injury liability and property damage liability. This financially protects you if you’re at fault in an accident by paying for a third party’s property damage, medical bills, and more.
Some full coverage policies will include additional coverages depending on the company and state minimum requirements. Common additions include uninsured/underinsured motorist coverage, personal injury protection (PIP), and medical payments (MedPay).
What Isn’t Included in a Full Coverage Insurance Policy?
While full coverage insurance includes various levels of protection, it isn’t all-inclusive. There are numerous limitations where the policy won’t pay for expenses, such as:
- Regular maintenance
- Wear and tear
- Racing incidents
- Committing intentional damage to your car
- Damages and injuries from driving under the influence
- Personal belongings inside the vehicle
Understanding what your policy covers is important, so check with your insurer for clarification.
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Factors To Consider When Buying Car Insurance
When shopping for car insurance, there are key factors to consider so you get the appropriate amount of coverage for your needs and budget, including:
- Coverage types. Insurance companies often specialize in different types of coverage, including collision, liability, and comprehensive. Many insurers also offer other types of coverage as well, including home or renters insurance, with potential discounts for buying multiple types of coverage.
- Premiums and deductibles. Different insurance companies offer higher or lower premiums based on location, vehicle, and driver. Drivers can also often choose higher or lower deductibles, which come with lower or higher premiums.
- Policy exclusions. Almost all insurance policies exclude coverage for certain types of perils. However, these exclusions typically aren’t advertised publicly, so you’ll need to review policy documents before you bind coverage.
- Discounts and benefits. Most insurers offer discounts for bundling multiple policies if you get home or renters coverage in addition to auto insurance, and some offer specialized discounts for students, safe drivers, hybrid or electric vehicles, and others.
Is Full Coverage Car Insurance Right for You?
Full coverage may be the right choice if you own a new or highly valued vehicle. A full coverage policy can provide comprehensive coverage from various incidents, including accidents, theft, and vandalism. However, if your car is an older model with a lower value, the cost of full coverage may outweigh the benefits, as premiums can be high.
A full coverage policy may also be a good option if you’re leasing or financing your car, as lenders often require this level of coverage. Finally, if you prefer the peace of mind that comes with full coverage, particularly in keeping you from potential out-of-pocket costs in certain circumstances, it may be the right choice for you.
FAQs
Based on our research, State Farm has the best cheap full-coverage car insurance. While Geico offers the lowest rates, State Farm has the best customer ratings and coverage overall.
Full coverage car insurance insurance can be costlier because it includes comprehensive and collision insurance. These offer more protection, so insurers charge high premiums in return. However, you can still find more affordable full coverage insurance with companies such as State Farm and Geico.
Every driver can benefit from full-coverage insurance, but this type of coverage is particularly important for drivers who have financed or leased a car or who live in a state that has mandated minimums for certain types of coverage.
Most insurers allow policyholders to add multiple cars and/or drivers under the same policy. Some insurers even offer discounts for having multiple cars or drivers.
Whether your auto insurance extends to another driver operating your vehicle depends on the policy you buy and the insurer you use. It can also depend on the driver, whether they’re related to you, live with you, or other factors.
Most carriers recommend reviewing your auto insurance coverage at least annually. However, it’s also important to review and update your coverage as your needs change – for example, if you get a new car or need to add or remove a driver from your policy.
How We Chose the Best Car Insurance
To find the best cheap full coverage auto insurance companies, we started by reviewing a list of companies that offer full auto coverage nationally. We then reviewed average rates that providers charge for full coverage, based on our research. We also reviewed company rates, benefits, and rates for various types of drivers to find the best companies for various types of drivers and vehicles.
WHY SHOULD YOU TRUST US?
At U.S. News 360 Reviews, our contributors and editors have years of experience researching and reviewing complex financial topics including various types of auto insurance. Dock David Treece, the author of this piece and a contributor for 360 Reviews, has more than two decades of experience in the finance industry. He has covered insurance and other financial topics for Forbes, Investopedia, Business.com, and other publishers. He has also written for several insurers, including Progressive.
Methodology – How We Collected Our Car Insurance Rates
At U.S. News & World Report, we rank the Best Hospitals, Best Colleges, and Best Cars to guide readers through some of life’s most complicated decisions. Our 360 Reviews team draws on this same unbiased approach to rate the products that you use every day.
To build our ratings, we researched more than 31 car insurance companies and agencies, analyzed 10 third-party review sources, and surveyed 9,502 consumers who opened a policy or filed a car insurance claim in the last five years. The survey questions covered satisfaction with the ease of filing a claim, customer service, claim status communication, claim resolution, and overall value. We also asked whether they’d recommend the company and if they planned to renew their policy.
Our 360 Reviews team does not take samples, gifts, or loans of products or services we review. All sample products provided for review are donated after review. In addition, we maintain a separate business team that has no influence over our methodology or recommendations.
To get comparative insurance rates for this study, U.S. News worked with Quadrant Information Services to analyze a report of insurance rates in all 50 states from most of the largest national car insurance companies and agencies, though not every company operates in every state. Quadrant obtains publicly available rate data that car insurers file with state regulators.
Our study rates are based on profiles for both male and female drivers aged 25, 35, and 60. Vehicles used include the 2017 and 2022 Honda Civic, 2017 and 2022 Toyota RAV4, and 2017 and 2022 Ford F-150, with annual mileage ranging from 6,000 to 12,000. Three car insurance coverage levels were used, as were credit tiers of good, fair, and poor. Clean driving records, as well as records with one accident, one speeding violation, or one DUI were also used in the calculations of certain driver archetypes.
To get the study rates shown here, we computed the mean rate for male and female drivers ages 25, 35, and 60 who drive 12,000 miles per year, have medium coverage, good credit, and a clean driving record. The rates shown here are for comparative purposes only and should not be considered “average” rates available from individual insurers. Because car insurance rates are based on individual factors, your car insurance rates will differ from the rates shown here.
Please note that the information provided on this website is for general informational purposes only and does not, and is not intended to, constitute legal advice.
