USA, Geico and State Farm consistently had the lowest yearly premiums for the driver categories we analyzed out of the nine major auto insurance companies in our annual survey. In addition to individuals with a clean driving record, people who may have received a speeding citation will have to pay a higher premium. Teenagers and elderly drivers, in particular, may find that switching to one of these companies saves them money. The easiest way to discover inexpensive vehicle insurance is to browse and compare rates from several insurance providers.

Which Auto Insurance Company Offers the Best Value?

As far as premiums go, USAA is the cheapest in our rankings. Drivers who have received a speeding citation or been involved in an accident pay the lowest premiums overall. Drivers with ties to the military, such as current duty personnel, veterans, pre-commissioned officers, wives, and children, are eligible for USAA's auto insurance plans.

Geico is the second lowest auto insurance provider in our ranking for individuals without military affiliation. Additionally, it offers some of the most affordable premiums for young and older drivers, those with good driving records and those with less than perfect credit, compared to other carriers like USAA.

Aside from USAA, State Farm provides the lowest premiums if you've gotten a ticket or been in an accident. And if you've been convicted of a DUI, State Farm has the most affordable auto insurance premiums in our rating.

How Much Auto Insurance Do You Need?

According to your state's standards and your circumstances, the sort of automobile insurance you should get is determined by your needs. There is no such thing as a one-size-fits-all insurance policy. Consider the coverage and restrictions that are most suited to your situation.

Suppose you have a new, financed automobile and want the finest policy available. In that case, you'll need a different amount of insurance than an older car and only need the minimum coverage to get behind the wheel. The following is a list of the most common forms of vehicle insurance and the corresponding coverage limits:

Liability insurance

Auto insurance policies must include liability coverage for bodily injury and property damage. This coverage is required by law in the majority of states. If you're at fault in a car accident, these policies cover the costs of repairs and treating the injured parties. Liability insurance is required in most places, but if your budget permits, you should consider purchasing additional coverage. At least $100,000 for physical injury per person, $300,000 per accident, and $100,000 for property damage (100/300/ is a sound basis for liability.

Uninsured Motorist Coverage

Some states mandate uninsured and underinsured motorist insurance, while others do not. Your medical bills will be covered if you're injured in an accident with an uninsured or underinsured driver (UM). It pays out if the at-fault driver lacks adequate liability insurance to cover your medical expenses. In most cases, UM limitations equal the limits of your liability coverage.

Geico

60-year-old men and women had the lowest rates of all age groups in our study, and their yearly premiums are usually lower than the national average. Geico had the lowest overall prices in our survey, making it an excellent choice for seniors searching for the lowest premiums.

Depending on their gender, this group's drivers spend an average of $1,245 to $1,282 annually for vehicle insurance. A year of coverage with Geico will cost you $1,049 to $1,085 less. USAA's rates for 60-year-old drivers are lower than the national average and Geico's, which should be noted. People who qualify for USAA vehicle insurance should look into it first.

USAA

Consider USAA if you're a member of the military community and you're looking for a discount on your car insurance. In our investigation, USAA consistently had the lowest rates. A competent driver may expect to pay 31% less for auto insurance with USAA. Other groups we looked at, including young drivers, older drivers, drivers with speeding tickets or accidents on their records, and those looking for basic coverage, all had the lowest prices. Remember that USAA's insurance policies are only available to active-duty and veteran military personnel and their families if you're considering joining them.

The State Farm

Drivers' insurance rates may go up if they get a penalty for speeding. Insurers raise premiums by an average of 23% for drivers who have received a speeding ticket. State Farm had the least average rate rise in our analysis, increasing by only 11%. The average State Farm rate for a speeding citation is $1,409. Compared to the US average of $1,767, that's a $358 discount. Even if you only get a single speeding citation, your insurance premiums will likely go up for at least three years, if not longer, as a result. After getting a speeding ticket, it's a good idea to shop for the best car insurance deal.