July 21, 2024

Insurance companies offering the lowest national average rates

Auto insurance premiums have become a significant cost for many motorists, even if they don’t own a high-end luxury vehicle. However, some insurers stand out with competitive prices, although not all of them operate in every state and some have strict policies regarding the drivers they accept. MarketWatch’s recent study on insurance rates revealed some companies offering rates that significantly undercut the competition.

The research conducted by MarketWatch identified USAA as the most affordable among national and regional insurers, with an average annual rate of $1,106.

The top 10 most affordable car insurance providers:

  1. USAA: $1,106 per year
  2. Central Insurance: $1,154
  3. Travelers: $1,191
  4. Auto-Owners: $1,203
  5. Country Financial: $1,270
  6. Erie Insurance: $1,274
  7. Geico: $1,307
  8. Nationwide: $1,470
  9. Progressive: $1,593
  10. State Farm: $1,703

It’s important to note that these figures represent averages, and actual rates can vary significantly. Companies like USAA have specific eligibility criteria, as they primarily serve active or retired military personnel and their immediate family members.

Drivers with a history of accidents or traffic violations typically face higher insurance premiums. Age can also influence rates, but the most significant factor remains the driver’s behavior on the road.

Despite the increasing cost of insurance, there are measures you can take to manage your expenses. Assessing your driving habits, maintaining a safe speed, and exploring options like bundling policies with family members can help reduce costs. If you have a history of serious offenses, comparing quotes from different insurers can also be beneficial.


Q: Can I lower my insurance rates by driving less?

A: Some insurance companies offer discounts for low-mileage drivers. You can inquire with your provider to see if you qualify for such savings.

Q: Is it worth it to shop around for insurance quotes?

A: Yes, comparing quotes from multiple insurers can help you find the most competitive rates for your coverage needs.


While insurance costs continue to rise, understanding the factors that influence rates and exploring cost-saving opportunities can help minimize expenses. By being proactive and exploring different options, you can secure affordable coverage that meets your needs.

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