Best Car Insurance Companies for June 2024 | Bankrate (2024)

Shannon Martin

Amelia Buckley

Reviewed by

Mark Friedlander

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4.6

4.6

Read Amica review

• Why this company made our list: Amica’s exceptional claims service and customer-centric business model make it a standout choice for drivers seeking a top auto insurance company that will be there when you need it most, based on Bankrate’s analysis. In fact, Amica tied with Geico for the Best Auto Insurance Company Overall in the 2024 Bankrate Awards. You can learn more about Amica and obtain a quote at amica.com or by calling 1-800-242-6422.

  
  Availability: Available in all states except Hawaii.

• Pros

  • Top-tier customer service
  • Consistently lower-than-average complaint index with the NAIC
  • Customizable policy options and discount variety
  • Can earn dividends on your policy

  Cons

  • No ridesharing coverage available
  • Online quotes not available in Louisiana
  • Ranked below average in the J.D. Power 2023 U.S. Insurance Digital Experience Study in the shopping category
  • Home and auto bundle is not available in Alaska, Florida or Hawaii

• Exceptional 2023 claims handling satisfaction according to J.D. Power

  Loyalty discount available if you’ve maintained a policy for at least two years

  Robust online claim center

  Dividend policies available

  Platinum Choice Auto policy offers several perks

• Of all the carriers on our list, Amica earned the highest Bankrate Score of the pack. This is due not only to its industry-leading customer satisfaction, but also its competitive average rates for full coverage policies and near-nationwide availability.

4.4

4.4

Read Geico reviewGet a custom quote

• Why this company made our list:Geico's long history as a trusted, household-name auto insurer is reflected in its high Bankrate Score. Coverage is available for virtually every type of driver, making its car insurance coverage generally accessible, even for consumers with blemished driving histories. Geico’s winning combination of metrics helped it tie for the Best Auto Insurance Company Overall in our 2024 Bankrate Awards. The insurer also won in the Best Budget Auto Insurance Company and Best for Young Drivers categories.

  Availability: Available in all 50 states

• Pros

  • May be available to high-risk drivers
  • Robust digital app and mobile tools
  • Offers an array of discounts
  • User-friendly self-service tools
  • Offers a telematics program called DriveEasy

  Cons

  • Customer service scores vary by region
  • Fewer coverage options than most competitors
  • Not as many in-person local agents as other car insurance companies
  • Limited additional products offered when compared to other carriers
  • Additional products are underwritten by third parties

• Robust digital tools

  Long list of potential discounts

  See Also

  Largest healthcare companies by market capMedicare Part B Premium and Deductible Increase in 2024The Best and Worst States for Health Care

  Nationwide availability

  DriveEasy telematics program

  Offers coverage to drive in Mexico

• Geico stood out as a top option in several 2024 Bankrate Awards categories, earning awards for its service, affordability and low average rates for young drivers. National service coupled with SR-22 availability make it a viable option for various driver profiles.

4.4

4.4

Read Progressive reviewGet a custom quote

• Why this company made our list: Progressive is the second-largest auto insurance company in the country, dominating just over 14 percent of the market. Its nationwide availability and extensive list of coverage options make it a great choice for all types of drivers, even those who have a DUI conviction and need their insurer to file an SR-22 or FR-44 on their behalf. For that reason, we chose Progressive as the Best Auto Insurance Company for High-Risk Drivers in the 2024 Bankrate Awards.

  Availability: Available in all 50 states.

• Pros

  • Strong digital tools
  • Coverage options for numerous types of vehicles
  • Several discount opportunities available
  • May have options for high-risk drivers
  • SR-22 and FR-44 filings are available

  Cons

  • Few add-on coverage options
  • Customer satisfaction scores vary by region
  • Rates may vary between online and agency quotes
  • Snapshot telematics program can raise rates for less-safe drivers

• Snapshot telematics program

  Name Your Price shopping tool

  AutoQuote Explorer lets you compare rates from multiple companies

  Online quote and sign online discounts

  Offers numerous other insurance products

• Having multiple speeding tickets, accidents, DUIs and other infractions make it more difficult to obtain car insurance. When Progressive opened its doors in 1956, it did so with the intention of agreeing to offer policies to drivers who may be considered high-risk with other insurers. To this day, customers with less-than-perfect motor vehicle records may find the coverage they need with a policy from Progressive. Not only does Progressive offer SR-22 and FR-44 filings, but it may even offer competitive rates for drivers with flawed records.

4.3

4.3

Read Safeco reviewGet a custom quote

• Why this company made our list:Our industry experience has taught us that the best car insurance company offers more than just the cheapest rates. Instead, some drivers may want to consider the overall value their company can provide. Although average rates aren’t available for Safeco, the company offers numerous perks that may pique your interest. From its extensive list of unique add-on coverage options, like its claims-free cash back and diminishing deductible offerings, to its networks of local agents, you may want to consider Safeco if you value a breadth of coverage options.

  Availability: Available in all states except Alaska, Delaware and Hawaii.

• Pros

  • Numerous add-on coverages available
  • Strong network of local agents
  • RightTrack telematics program could help save up to 30 percent
  • Claims Free Cash Back program allows policyholders to get up 2.5 percent of their premium back

  Cons

  • Rates are not available
  • Below-average digital shopping tools
  • Fewer discount opportunities than other providers
  • Lower AM Best rating compared to other major carriers

• Claims Free Cash Back program

  Guaranteed Repair Network

  Diminishing Deductible

  RightTrack telematics program

• Of the companies we studied, Safeco offers an above-average value to consumers with options like its Claims Free Cash Back program, which could pay you back a portion of your premium if you are claims-free for six months. The company also offers a Guaranteed Repair Network for auto claims in most states. If you get your vehicle repaired at a Safeco-approved shop after a covered loss, your repairs will be guaranteed for as long as you own the vehicle.

4.3

4.3

Read Auto-Owners reviewGet a custom quote

• Why this company made our list: If you live in one of the 26 states where Auto-Owners writes car insurance policies, you might want to include it on your list. Not only does Auto-Owners have a low NAIC complaint index, but it also received a top AM Best rating for financial strength. Young drivers and teens may want to pay special attention to Auto-Owners: it offers three different student discounts and fairly competitive rates for drivers 25 and under. But drivers older than 25 can likely find good deals with Auto-Owners, as well. Auto-Owners also tied with Geico for Best Budget Auto Insurance Company.

  Availability:Available in 26 states.

• Pros

  • Several discounts available
  • Superior AM Best financial strength rating
  • Numerous endorsem*nts available
  • Can get an auto discount for bundling a life insurance policy

  Cons

  • Only available in 26 states
  • No online quoting or claims filing
  • Lower-than-average claims satisfaction score from J.D. Power
  • Lower-than-average digital service score from J.D. Power

• Offers diminished value coverage

  Three discounts geared toward young drivers

  Superior AM Best financial strength rating

  Offers an auto insurance discount for having a qualifying life insurance policy

• Auto-Owners offers an impressive menu of more than a dozen discount opportunities, which is even more noteworthy for a regional insurer. Drivers could save by getting a quote ahead of their current policy’s expiration or by opting for paperless billing and payment options.

4.3

4.3

Read State Farm reviewGet a custom quote

• Why this company made our list:As thelargest national auto insurer based on market share, State Farm's reach and reputation make it one of the best auto insurance companies for drivers in most states. Its extensive local agent network showcases its customer-first approach to providing consumers with various personal and commercial insurance products.

  Availability: Available in all states except MA and RI.

• Pros

  • Large network of exclusive local agents
  • Superior financial strength
  • Steer Clear teen driver program could help young drivers save
  • Offers a telematics program called Drive Safe & Save
  • Above-average J.D. Power claims satisfaction score

  Cons

  • Customer service is not available 24/7
  • Higher-than-average overall NAIC Complaint Index
  • Not sold in all 50 states
  • Accident forgiveness must be “earned”; cannot be purchased
  • Auto policies are generally six-month terms, meaning rates could increase twice a year

• Knowledgeable, local agents available in most communities

  Two safe driving programs — Drive Safe & Save and Steer Clear

  Numerous discounts offered

  Sells many other kinds of insurance

  Also offers banking and investment products

• State Farm has over 19,000 licensed insurance professionals, available in communities across the U.S., who can offer guidance to those who value expert insight when discussing their policy. Digital management options allow for an on-the-go approach, including a mobile app where you can file auto claims and contact your agent.

4.2

4.2

Read Travelers reviewGet a custom quote

• Why this company made our list: Travelers has over 150 years of experience in the auto insurance industry. Its vast independent agent network, numerous endorsem*nt options, robust savings opportunities and proven financial track record make it a worthwhile option for drivers nationwide.

  
  Availability: Available in 42 states and Washington D.C.

• Pros

  • National independent agent network
  • Competitive discounts
  • Numerous policy options
  • Superior AM Best financial strength rating
  • Lower-than-average private passengerNAIC Complaint Index

  Cons

  • Lower-than-average J.D. Power claims satisfaction score in 2023
  • Ridesharing coverage is only available in Colorado and Illinois
  • Below-average digital shopping and service scores from J.D. Power
  • Only available in 42 states and Washington, D.C.
  • Higher-than-average overall NAIC complaint index

• Sells many other types of coverage, including event and travel insurance

  Travelers Affinity offers special rates if you are affiliated with certain groups

  Hybrid/electric car discount

  New car replacement endorsem*nt

  Online quotes available

• Travelers offers many ways to personalize coverage to your specific needs. In addition to standard liability, collision, comprehensive, uninsured/underinsured motorist, personal injury protection (PIP) and medical payments coverage, Travelers advertises a solid selection of car insurance add-ons to round out your policy. These include gap coverage, rental coverage, new car replacement, roadside assistance and accident forgiveness.

4.2

4.2

Read USAA reviewGet a custom quote

• Why this company made our list: USAA cannot officially qualify for J.D. Power rankings because of its strict eligibility requirements; the company is only available to active-duty military, veterans and their eligible family members. However, it is still included in J.D. Power’s customer satisfaction and claims satisfaction studies — and is a frequent top scorer. Additionally, USAA has impressive financial strength ratings from Moody's, AM Best and S&P. Our analysis shows that this company could be the best for military-focused benefits, including a discount of up to 60 percent for qualifying military members who put their vehicles in storage while deployed.

  Availability: Available in all 50 states.

• Pros

  • Excellent J.D. Power customer service scores
  • Superior AM Best financial strength rating
  • Low average rates
  • Military-focused coverage options
  • Offers a telematics program called SafePilot

  Cons

  • Member eligibility restrictions
  • Fewer coverage options to create robust policies
  • Only digital and over-the-phone access for policy and claims management
  • SafePilot is not available in all states
  • Doesn’t offer 24/7 customer support
  • Lower-than-averagedigital shopping score from J.D. Power

• USAA Perks offers savings on a variety of brands and experiences

  Military on-base discount

  MyUSAA Legacy discount

  Also offers banking and investment products

  SafePilot telematics program

• USAA earns top marks from all major third-party rating agencies for customer service and financial strength. Coupled with a lower-than-average full coverage premium, USAA is a powerhouse. The company offers several common car insurance discounts, as well as military-focused ones such as savings for on-base military members.

4

4

Read Nationwide reviewGet a custom quote

• Why this company made our list: Nationwide is known for its innovative programs and wide coverage options that may suit diverse budgets and goals. You might also be able to take advantage of multiple potential discounts and leverage the company’s robust digital resources to help you manage your policy. Customers might also benefit from features such as “On Your Side” service, Nationwide’s free annual insurance consultation that pairs policyholders with a licensed agent to be proactive about adapting your insurance to your needs.

  Availability: Available in all states except Alaska, Hawaii and Louisiana.

• Pros

  • Low average rates
  • Offers telematics programs for safe and low-mileage drivers
  • Robust coverage options
  • National independent agent network
  • Low NAIC complaint index scores for private passenger auto insurance

  Cons

  • Below-average J.D. Power customer satisfaction scores
  • Below-average J.D. Power claims satisfaction score
  • Not available in all states
  • No 24/7 customer service
  • Above-average overall NAIC complaint index scores

• Numerous endorsem*nts available

  SmartRide telematics program

  SmartMiles pay-per-mile program

  Banking and investment services available

  Local agents available

• In addition to standard discounts like multi-policy and good student discounts, Nationwide offers two telematics programs to help drivers save by tracking safe driving habits or reducing their annual mileage. Nationwide’s On Your Side policy review process can help you discover discounts you may be eligible for.

3.8

3.8

Read Liberty Mutual reviewGet a custom quote

• Why this company made our list: Liberty Mutual auto insurance can be a great option for those who want the convenience of housing multiple policies with one insurer. Not only is bundling a practical choice, but it can also help save. Liberty Mutual advertises that drivers who switch and bundle their home and auto policies together can save up to $950 annually. Liberty Mutual’s average car insurance rates are not available, so you must contact a Liberty Mutual agent for a quote.

  
  Availability: Available in all 50 states.

• Pros

  • Offers numerous insurance products
  • Strong digital tools
  • Local agencies available
  • Numerous discounts
  • Extensive list of endorsem*nts

  Cons

  • Below-average J.D. Power claims satisfaction score in 2023
  • Poor digital service scores from J.D. Power
  • J.D. Power customer satisfaction scores are low in most regions
  • Above-average private passengerNAIC Complaint Index
  • Doesn’t offer 24/7 customer support

• Local agencies available

  Offers a military discount

  Sells coverage to drive in Mexico

  Sells multiple insurance products

  Offers specialized coverage for teachers

• Liberty Mutual offers a long list of insurance products, including auto, home, umbrella, life, pet, small business and identity theft. If you like to keep your insurance products in one place for ease of management, Liberty Mutual might be a good fit.

46

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Mark Friedlander

Director of corporate communications, Insurance Information Institute

“Car insurance rates are expected to continue to increase in 2024 due to more costly repairs, driven by parts shortages and higher costs of labor, as well as low inventories of vehicles, which generates higher costs of replacing totaled cars. From 2020 through 2023, replacement costs increased an average of 45 percent cumulatively, whereas inflation for the overall U.S. economy increased 15 percent within the same timeframe. Triple-I forecasts the U.S. personal auto insurance industry to post a substantial underwriting loss in 2023 with a 110.5 combined ratio, meaning auto insurers are paying out more than $1.10 for every dollar collected in premium. This is a slight improvement over the industry’s 112.2 combined ratio in 2022. A key factor in determining underwriting profit is accident severity. Since the pandemic began in 2020, loss costs for accidents have been outpacing premiums charged, resulting in many insurers raising rates multiple times to offset losses. We are starting to see premiums catching up with loss costs. Unless replacement cost begins to decrease materially — which is not currently forecast — we expect the personal auto insurance line to remain at an underwriting loss through 2025."

Rating: 5 stars out of 5

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