The 3 Best Cheap Car Insurance Companies

While the lowest quote price is the most important element of finding the best cheap car insurance, there's still several other factors that should be considered when making a decision. Available discounts on your policy can also be a decent measure of the top companies in terms of cheap car insurance. Those looking to find the cheapest car insurance should be mindful of driver discounts, vehicle discounts, and price, but also still be aware of the policy and vehicle coverage offered.

Fletcher Wilson

Fletcher Wilson

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Updated: January 16, 2014
1.

GEICO tops the list as the top car insurance company for a cheap policy due to its low prices in several major areas. The quote prices for a male driver in Chicago, for example, were around $300 per year cheaper than some top competitors. In addition to being one of the leading car insurance companies in terms of price, GEICO also offers all the policy coverage a driver could ask for. GEICO isn't necessarily the best auto insurance company when it comes to discounts, but they are still among the leaders. On a more positive note, customers can expect excellent policy management capabilities in addition to quality policy coverage and benefits. The learning materials are the best at GEICO, and there's no telling how much money knowledge can save someone, especially after an accident occurs. The other benefit about choosing GEICO is that the company is very financially stable. GEICO is owned by Berkshire Hathaway, which is one of the largest conglomerate companies in the world. Get Quotes

2.

Progressive ranks as the top overall car insurance company and finished an extremely close second to GEICO in terms of the cheapest car insurance. In several locations, Progressive was even less expensive than GEICO. Progressive quotes were sometimes over $500 cheaper per year, compared to other major car insurance companies in major cities. Those who place a high value on driver discounts and vehicle discounts will definitely want to go with Progressive as they are the industry leader in both categories. Progressive also has fantastic claims and policy management, and flawless policy coverage. The one area where they fall a little short of the competition is vehicle coverage, but it's very difficult to find any major issues here. Get Quotes

3.

While Farmers Insurance did have cheaper quote prices than the top two companies in some areas, they did have higher-priced quotes in most of the locations tested. Farmers had a very high quote price in the Chicago area compared to Progressive and GEICO, but they were about equal in some cities located on the West Coast. Farmers Insurance is one of the best companies for cheap car insurance because their quotes are on the lower end of the price spectrum and they offer every vehicle discount you can receive. Farmers is lacking a bit in terms of driver discounts, but they make up for it with flawless claims and policy management processes. If Farmers Insurance offered more driver discounts and had a more consistent auto insurance quote process, it's quite possible they could compete with the cheap auto insurance policies offered by the other major companies, but for now Farmers is quite a bit behind. Get Quotes

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