Your car insurance premium is based on a lot of different variables. An important variable is the insurance company. Shop around for options, and you could save hundreds or thousands of dollars every year on your premiums. We’ve compared several insurance companies to help you figure out which could be the most affordable for you. It’s not a guarantee, but a good starting point.

The Most Affordable Companies

According to research, it looks like USAA and State Farm offer insurance coverage for the least amount of money. USAA’s average insurance cost is $215 for a six-month policy. That’s about half of the national average. In comparison, State Farm charges $356 for equivalent coverage and is about 24% lower than the national average. The catch with USAA is that the only people who will qualify for a policy are active military, veterans, or their families. In case this matters, State Farm is the largest auto insurance company nationwide while USAA is the fifth largest. State Farm also has a massive network of local agents, so you’re likely to find their agent in your city. 

Another major company that offers affordable coverage is Geico. It’s the second-largest auto insurance company and its minimum coverage policy for six months costs $409. It also has a great quote tool and offers instant rates online. Geico is also known for its discounts.  

Among smaller insurance companies, Farm Bureau Insurance costs $218, and Erie charges $226 for their respective six-month policies. They’re not as popular as others that advertise everywhere, but they can help you save money. 

Driver Profiles and Changing Rates

There are a lot of factors that will determine your insurance rate. These include your location, age, driving history, vehicle, financial profile, and even elected coverage. For a 30-year old driver with a clean driving history, the cost for full coverage for six months can range from $644 to $1,793, depending on the insurance company. The same coverage for an 18-year old will cost between $1,985 and $5,456, depending on the insurer. That’s a huge difference in cost for the same coverage. So, the next time you’re looking for auto insurance, do a little bit of homework and save big.