The Cheapest Car Insurance in 2023 (2023)

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So moving into 2023 we've got to ask the question: who's the cheapest Insurance in the U.S who's going to give me the best rate and what's the scenario, because there are different situations that these fall into and, if you think of it, this way as a profile, you have different situations in your life in different scenarios, do I need to insure just my car or do I need to insure my car and my house do: I have a lot of stuff to insure in high risk liability to have claims and tickets, and things like that in this video we're going to go over the best fit for most of those scenarios and give you a generalized personal opinion of what I think are going to be the best insurances to look at now.

If you are in the market and you are shopping, one of the great pieces is that looking at these insurance companies, a lot of them work with what we call Independent Insurance companies or agents or Brokers, as they call them, and what that does.

Is that allows them to shop you with not just the one company? It allows them to shop you with that company, along with a handful of other companies, if you are shopping, I'll put in the link in the description below where you can work with agents like that, where they cannot just shop the one company they can give you multiple options.

The first part is starting off with the young driver.

If you are below the age of 25 you're automatically a higher risk.

Actually, if you're a younger driver, the first go-to has always been Geico, not necessarily the favorite company of the century, but they tend to have some of the better rates for younger drivers.

They don't mind it that age as much as they do claims and tickets.

So it's a little bit different scenario.

If you have a ticket or have an at fault accident, then Geico starts to become less competitive, generally they're, going to have the better price for you.

If you're starting off as a new driver that also leads into new drivers being young is that Nationwide is super competitive when you're, just starting off.

If you haven't had a vehicle before and haven't had insurance for several months or on that vehicle, yet Nationwide actually gives you that little break that everybody's looking for they don't rate not having that prior insurance as heavily as other companies.

Do that's going to be.

The second choice is for younger drivers is to check out Nationwide because of that reason they're not as strict on the type of client that's coming in the door within reason.

If you have a claim or an accident, they actually look a little bit deeper into the type of claim you've had versus the companies that see the age and just see some activity and they think no way I'm out where Nationwide says okay, was it a not at fault claim? Then we don't care so much.

What is a comprehensive claim where the windshield broke? We don't care so much speeding ticket, that's a different story accident! That's your fault! That's a different story! So that's where Nationwide really shines.

In that scenario, Progressive is going to be in the same spot in almost every category, because they're just one of those companies that is the better overall fit for the majority of people, not always the cheapest price and actually more commonly not the cheapest price.

Until we get into a couple pieces here we'll get to, but they end up being more of the advanced company, they are always trying to put themselves ahead of the trends.

So if they see a lot of Trends are people that have tickets, then they're going to gear their prices to fit the type of people they're willing to take in the door.

Now they want to be more of that Premier preferred company where their model is It, just fits them as a little bit less than preferred, and what I mean by less than preferred is not that they're, a less preferred company, it's the type of client that joins them.

That means, if you have a claim, if you have a ticket, they can be a better fit or a better price.

If you've had a lapse in insurance- and you have had a car where Nationwide is not going to be competitive, Progressive typically is plus they give a huge discount.

If you pay the whole thing in full, if you're going to pay the whole thing and can pay the six months or 12 months up front, I've seen them give over 500 off on that policy, just for pain in full.

The next up is State Farm, even though their rates are going crazy right now, and we've heard some of the rumors that their rates are going to explode and go way out of the market this year.

You do want to keep that in mind when you're shopping and one thing I would personally ask if you shop with State Farm is: do you have a plan in my state for a rate increase if so in another company, a semi-competitive that has already either had a rate increase or doesn't plan to have one longevity you're, better off fitting with the company that doesn't have plans for rate increases? That being said, if they've already done it and they're competitive, State Farm does have an overall good fit that doesn't necessarily knock out a younger driver and then the last one is USAA.

They've fallen in the ranks, in my opinion, as far as the service level, but they're still a top tier company.

They are a good fit, but only if you're any type of military or have a family member.

That's a military style be very careful because some of the reasons a lot of these companies are less expensive is because they're pulling certain coverages off of your policy so that you may not be covered the same as if you were with one versus the other.

That's where having that independent agent gives you that advice, they can tell you those differences between those different companies that they shop so Mark who's competitive.

If I'm over 25., if you're over 25 that rearranges all of those types of companies, Nationwide honestly comes in really competitive, if you're over 25, they offer a ton of different coverages that other companies aren't.

So you can a la carte, as we call it.

You can add Vanishing deductibles, you can add accident forgiveness.

If the car's newer, you can do a gap insurance, you can have a replacement of a vehicle.

So if it was totaled, even though you owe more than the car was worth they'll just replace the vehicle, so you're not going to be out of pocket.

So those are some of the benefits, but when you're older, your insurance score and your history and all of that, your profile starts to get a little bit better in the eyes of an insurance company.

Nationwide wants that type of business, so they do Focus heavily and once again, if you have a comprehensive claim, if you have not at fault claims they're not as heavy hitting on those.

So in that scenario, if you're that type of person Nationwide is probably going to give you the better option- and yes, they are one of the companies that most agents that are independent do work with, like I, said, I'll put the link in the description below if you're looking for that type of agent, the next one I would actually lean toward is Liberty Mutual.

They are really good.

If you have a good insurance current score, if you don't have a lot of claims, they have a sub company called Safeco and that's the independent model.

So when you talk to someone, that's shopping, you with Nationwide they'll, probably shop you with Safeco in most cases, which are the two direct competitors.

In my opinion, those guys are both really good, but the Safeco and the Liberty brand.

They tend to be a little bit stricter on claims.

If you have a claim I've seen the rate go crazy versus if you haven't had a claim.

So if you are the type of person that has a little bit of activity nationwide's first, then Liberty would be the second option.

The third place I would look at if you're, 25 or older is going to be Farmers.

Farmers Insurance in Most states are really competitive.

You'll know really quickly, if you're in a state that they're not competitive in because their price will be twice as much as you would expect.

The downfall to them is, there's not a whole lot of leeway of things, change or prices change and what that wouldn't discourage me as far as going with them, but it's kind of those things where you don't have the availability to kind of see what the market looks like Farmers does offer a lot of those extra benefits they're one of the tried and true companies that has been around for a long time.

In my personal opinion, I've had really good claims experience when I worked with several Farmers agents and overall, they have a good knowledge of what they're talking about the next up is also with independent agents, is travelers insurance and travelers is one of those love it or hated companies, half of the people, hate them and half of the people, love them, but an overall aspect: they're, competitive and they're.

Overall, a good company I've seen them do really well with claims.

I've seen them be very competitive with different scenarios, and they do like to have that home and auto bundle.

So if you're, the type that's bundling your home and your auto together, they're going to be a really competitive fit for the person, that's 25 or older, they also offer some unique coverages.

As far as like the umbrella, add-ons they'll tell you the prices right away without having to wait a few days to figure it out.

They'll also tell you like different add-ons for jewelry.

If you want to add jewelry to a policy, if you have a homeowners, they have what's like a mold coverage so that you can have like deteriorated if there's dripping water, that's typically not covered on a house so different things that they offer that not all of the companies give you as features that are available in the past.

I've actually worked with Travelers before with an independent company that I was with, and one of the things that I liked and calf liked.

Halfton was that they do combine, or at least when I was doing it.

They combined the insurance score.

They combined the profile of the person into one package, for example, if you have Auto most companies say: what's their insurance score? What's their claims history what's their length of insurance? What's all of these pieces, great here's, your price, then I, look at the home and say what's the home: what's the home? What's this? What's that and they say great here's your price: let's give you a discount to bundle it! That's 99 of the companies! Do it that way where Travelers says who's the person? What's the score? What's this, what's this you've had a claim on the auto? Okay, you've had a claim on the home, and then they push it all together and they base everything off of the whole profile of the person.

So if you're, that type of person that has a good clean history has been with an insurance company for several years has no at faults in this, and that then Travelers is going to be competitive more so in more situations than the next company up.

Farmers also plays a good spot when you are 25 or older, and you have the good history, as I mentioned before they're, not looking to explode the market and grow left and right like crazy, their marketing's out there.

They do want business, but they're not looking to jump over the moon, and that is the typical fit that clientele that preferred client, as we call them, is what they're looking for similar to Travelers they're, going to be the direct competitor once again, USAA gets in line here and it's same scenario if you're military or whatever the case is I, would almost always put them in that mix.

As somebody to check just keep in mind, their prices have gone up a lot and their in service has gone down a little bit, but once again, that still doesn't stop them from being one of the better companies to look at to add one last one Allstate, even though their rates are going crazy across the board.

They're, the ones in the news they've had 30 percent 40 increases here and there it if they're competitive, which they are in some states.

Then they're going to be a good fit to look at as well.

They're a great company to look at just like State, Farm and Farmers Allstate is, though, one of their direct competitors.

So in different situations, especially if you have a home I, find that they're very competitive on the home.

You just got to be a little bit careful because they are one of those companies that is stripping away.

The coverages they've announced it publicly that they're going to lower their rates because they're pulling all of the extra coverages off that most of the companies include in their policy.

So, yes, they're going to be cheaper in some scenarios, but you got to keep in mind: you're, probably buying less coverage, again, that's not to say they're a Bad Company they're, just offering products that don't require you to purchase the extra pieces mainly for homes for the roof.

You want to make sure that you have full replacement cost versus, what's called a scheduled, I'll link more of that information directly at the end of this video, okay Mark.

So thanks for all the information I'm in that one of these scenarios, I'm 25 to 75 honestly 75 fits 25 worlds.

It's it's a little bit of a different scenario and I have a video on my channel.

If you want to learn more about the older drivers and what companies are competitive, but let's say I'm in this area, where I'm 50 to 60 65 years old or I'm, even 35, whatever the case is but I haven't bad insurance.

I have bad credit.

I've had some problems with my policies, not necessarily claims claims, always increase everything by about 15 plus percent, but in general I'm.

Just getting my footing.

Yes, I'm in the age and I've had Insurance history, so I'm not a bad risk, but I've got to find a company.

That's not only price focused, but also a company that has my best interest.

If you fit that scenario, the first company I would put in the mix would be Progressive that is or describes.

In my opinion, the competitiveness that Progressive is.

If we're looking at the dollar amount.

Remember if you pay in full, it's usually several hundred dollars off of that policy.

You're, not looking to go over the moon if you're driving for Uber or Lyft they offer coverage for that.

So they've got a little bit of a range of coverage in the half of the savings which is Gonna Save up in case you have a claim and you're over on the policy, so they can pay it off.

They have different little cool things.

They even have the snapshot which not a super fan of, but it's available.

I've got a customer that we just started on and he's going to use it.

It ended up, saving them 10, we're hoping it'll, save him more as he drives, but there's different things that Progressive has that in those mediocre scenarios is a fit also Progressive is with independent agents, so you can either go direct to them yourself or go to an independent agent to have them quote across Progressive and other companies you'll find that some states, depending on the location, the direct model, is cheaper or the agent is cheaper.

There are actually two different models and it just depends on the scenario the only downfall that I save for the direct one is.

If you go direct to Progressive, they don't tend to recommend coverage, so they're not putting you in their interest.

They don't know your scenario where, if you work with an agent or fill out a quote or talk to somebody or text them or whatever, you want to do, they'll ask questions and try to dive in a little bit further and say: hey.

Is this important to you or should you have this? That's really their position too, you're not paying more for that service in most to all states, but it is a benefit that you get if you go to an independent local agent.

Next, up in that, mid-tier is Nationwide same scenario, as we mentioned before, they're really competitive.

They are good if you have really good credit, they're.

Okay, if you have okay credit, they don't care as much about not at fault claims.

So if you've had some stuff, that just is everybody's rating against Farmers is third up in that position where they're 50 50.

right, we said that they might be a really good fit and they might not that's where they Teeter to whether they're competitive it's kind of one of those things you just got to throw your data in there see what they say and see.

If they're competitive, Travelers in USA are tied into my opinion, USAA is a good fit, but honestly I think if you're the okay credit a couple of things here, maybe not having Insurance USA I.

Think in my opinion, is going to be probably twice as much as everybody else, because they want a little bit tighter of a client, but it's worth it to shop and check.

If that is something that you like.

Travelers is also competitive, similar situation, where credit does play that profile Factor, so they may or may not be competitive there.

The last two companies would be the State Farm and Allstate options.

If you want to learn more about the competitiveness of them, I'll put the video here where we compared State Farm versus Allstate.

If you're trying to figure out what coverages you should carry and what's the next step as far as what actually is needed in your policy, I'll put my car insurance 101 right here, for you to check out, feel free to put a comment below.

If you have questions otherwise I'm Mark with think insurance, I'll see you in the next one.