5 Cheapest Car Insurance Companies for November 2022

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U.S. drivers pay an average of $1,032 a year on full-coverage auto insurance, according to the most recent data from the National Association of Insurance Commissioners. So car insurance companies want your business, and they fight for it by offering deals and discounts on auto insurance policies.

Read: If Your Credit Score is Under 740, Make These 4 Moves Now

You’ll have to do some comparison shopping to find the cheapest auto insurance, though. You can find great deals if you do your homework by gathering various auto insurance quotes. GOBankingRates has taken some of the work out of it by combing through car insurance agencies to compare prices so you can get the best car insurance rates.

Who Has the Cheapest Auto Insurance Rates?

If you’re looking for the answer to, “What is the cheapest place to get car insurance?” you might be overwhelmed by the number of insurers. To help you compare rates and options more easily and decide which auto insurance could work for you, GOBankingRates compiled a list of well-known car insurance companies and got free car insurance quotes from them using the same driver persona factors. GEICO’s prices came in lowest, but it’s important to shop around for quotes using your own information and coverage preferences.

Make Your Money Work for You

Here’s a closer look at five auto insurance companies and a rate range for each. The lower rate in each company’s range is for liability-only coverage. The higher rate is for full coverage.

Insurance Provider Monthly Rates
GEICO $41-$103
Liberty Mutual $98-$187
Farmers Insurance $65-$105
Progressive $68-$195
Allstate $56-$117


Monthly rates: $41-$103

Coverage: Liability, medical payments, personal injury protection, mechanical breakdown, uninsured/underinsured motorists, comprehensive, collision, emergency road service and rental reimbursement.



One of the best auto insurance companies, GEICO boasts a claims satisfaction rate from customers of 874 out of 1,000, based on J.D. Power’s independent study. GEICO claims it has the financial strength to deliver the best cheap car insurance to drivers, without compromising on quality or service. Is Geico always the cheapest? No, you may find their prices range depending on factors such as age, car make and model and location.

If you insure more than one vehicle with the company, you save up to 25%; bundle your homeowner’s insurance with your auto policy and you can save even more. As a customer, you’ll have access to a locator that helps you find the cheapest gas, a car-buying tool, and special discounts if you’re in the military, accident-free, a member or employee of certain groups, or a federal worker or student.

Make Your Money Work for You

2. Liberty Mutual

Monthly rates: $98-$187

Coverage: Collision, comprehensive, liability, new car replacement, better car replacement, teacher coverage, rental reimbursement, uninsured motorists, medical payments and emergency road service.



Liberty Mutual has offices in 18 states plus Washington, D.C., but you can get a quote no matter where in the U.S. you live. 

You can save up to 12% on Liberty Mutual car insurance when you buy online, but that’s not the only discount offered. Homeowners, members of the military, good students and students away at school all qualify, and you can earn additional discounts as well. The RightTrack program, for example, rewards drivers who display good driving behavior with the RightTrack device installed with a final discount of as much as 30%. All these discounts add up and make Liberty Mutual one of the cheapest auto insurance providers.

3. Farmers Insurance

Monthly rates: $65-$105

Coverage: Liability, collision, comprehensive, medical, personal injury, towing, roadside service, rental reimbursement, loss of use, guaranteed value, custom equipment, glass deductible buyback, spare parts, windshield and glass, original manufacturer equipment, new car replacement, accident forgiveness, rideshare and uninsured and underinsured motorists

Make Your Money Work for You



Farmers has experienced agents ready to help out with any questions you might have regarding your policy. In addition, its policies are customizable so you get the insurance you need. The company also says it handles claims quickly and easily, which most drivers will appreciate.

Farmers offers a number of discounts for things such as bundling your homeowners and auto insurance, being a good student, insuring multiple vehicles and owning an alternative fuel car. Because the company’s discounts vary by state, ask an agent for the ones available where you live.

4. Progressive

Monthly rates: $68-$195

Coverage: Liability, medical payments, comprehensive, collision, roadside assistance, loan/lease payoff, rental car, custom parts and equipment, rideshare, deductible savings bank and uninsured/underinsured motorist.



Make Your Money Work for You

Progressive claims customers could save over $650 when they request a free quote. You can also get a multi-policy discount as well as a good safe driver, multi-car, good student, teen driver, homeowner and other discounts.

Progressive’s Name Your Price Tool builds a policy around your budget, and if you plug a Snapshot device into your car to prove you have safe driving habits, you’ll save even more.

5. Allstate

Monthly rates: $56-$117

Coverage: Bodily injury, property damage, comprehensive and collision, uninsured and underinsured motorists, medical payments, personal injury protection, rental reimbursement and coverage for travel to Mexico.



Another one of the best companies for auto insurance, Allstate will discount your rate if you sign up for and remain active in Allstate’s Drivewise program, which measures your safe driving behaviors and rewards you with cash back. You can also accumulate Allstate Rewards points — redeemable for merchandise and gift cards — by successfully completing safe driving challenges.

Make Your Money Work for You

How Are Auto Insurance Rates Calculated?

Many may wonder “How much is the cheapest car insurance per month?” The answer to this varies greatly as auto insurance companies take many factors into account when calculating rates. Here’s what they consider, according to the Insurance Information Institute.

Make Your Money Work for You

How To Lower Your Insurance Rate

No matter what auto insurance company you use, there’s a good chance you can qualify for a lower rate, whether by reducing your risk of filing a claim or by qualifying for discounts. 


Finding the cheapest auto insurance is possible when you know what carriers offer the lowest rates and best discounts. Choose a handful of companies, get online quotes and compare them to find the provider with the best rate.

Cynthia Bowman, Daria Uhlig and Andrew Lisa contributed to the reporting for this article.

Data is accurate as of Nov. 29, 2022, and is subject to change.

Methodology: Results are based on insuring a non-hybrid, 2017 Toyota Camry LE owned by a single, 34-year-old, female driver with a bachelor’s degree who lives in ZIP code 90245 and got her license when she was 16. She uses the vehicle to commute to work and travels eight miles each way, five days a week, putting between 12,001 and 13,000 miles on the car each year. She’s gainfully employed and has had no accidents, traffic violation tickets or citations for driving under the influence in the last seven years. All insurance companies’ quote forms were not identical, and some asked questions unique to the specific insurer.