Compare car insurance quotes and rates 2024 – CNN Underscored

By
Cassidy Horton
CNN Underscored Money
Updated 4:24 AM EDT, Wed January 10, 2024
nuttapong punna / iStockPhoto
How much you pay for car insurance depends on several factors, including your age, your ZIP code, your insurance score, your driving history, your vehicle type and your coverage level.
Comparing car insurance quotes from various auto insurers can help you find the best policy to fit your needs and budget. See how some of the top car insurance companies’ rates compare, according to data from Quadrant Information Services, and learn tips for gathering and analyzing quotes and choosing the best insurer.
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To calculate the average annual rates presented, we used data from Quadrant Information Services for seven different driver profiles, including drivers with a clean record, drivers with an accident on their record, drivers with a speeding ticket on their record and drivers with poor credit. We looked at sample policies carrying full coverage and carrying each state’s minimum auto insurance coverage requirements. Read our full methodology here.
The table below compares average annual rates from top car insurance companies for minimum coverage and full coverage. The rates for minimum coverage are based on each insurer’s average costs across all states it operates in using each state’s required minimum limits. The companies’ full coverage rates are the averages of the seven driver profiles we studied and include liability coverage, uninsured motorist coverage, comprehensive coverage and collision coverage.
See how the cost of car insurance varies by state and coverage type below.

The rates noted for full coverage are the averages of the seven driver profiles we studied in each state and include liability coverage, uninsured motorist coverage, comprehensive coverage and collision coverage.

Your age plays an important part in determining your car insurance premiums — with drivers who are older typically paying less than drivers who are younger, which is reflected in the table below.
The table below shows the average annual rate increase, by company, for parents adding a 16-year-old teen driver to their auto insurance policy with full coverage, including liability coverage, uninsured motorist coverage, comprehensive coverage and collision coverage.
The table below shows the average annual rate for full coverage for young adult drivers ages 18, 20 and 25 by company.
The table below shows the average annual rate for senior drivers ages 70 and 80 with full coverage by company.
Your driving record impacts how much you pay for car insurance. The size of the impact can depend on the specific insurer as each sets its own rates and determines how violations and accidents affect them. For example, some insurers charge higher rates for speeding tickets than accidents, while others weigh accidents higher than speeding tickets in their calculations.
Additionally, the more tickets and claims you have, the more you’ll pay for car insurance. Having an excessive amount can even lead to nonrenewal or denial of coverage with a standard auto insurer, meaning you’ll likely have to explore options with a nonstandard or high-risk carrier.
See how average car insurance rates compare between companies based on driving record below.
Drivers without any accidents or violations on their record generally pay the lowest rates for auto insurance.
Drivers with a speeding ticket on their record can pay between approximately 7% and 38% higher rates than good drivers, according to our data.
Getting into an at-fault accident can increase your rates by approximately 28% to almost 58%, according to our data.
For drivers with a DUI on their record, expect an average rate that’s between approximately 28% and 148% higher than good drivers, based on our research.
While most car insurance companies don’t explicitly consider your credit score when underwriting your application (some states, including California, Hawaii, Maryland, Massachusetts and Michigan, limit or ban the use of credit scores in general), many use insurance scores or credit-based insurance scores. These are calculated by using factors from an individual’s credit report, such as late payments, outstanding collections, length of credit history and credit usage, to help predict the likelihood they’ll file a claim and set a rate accordingly.
We receive compensation from our partners for Featured Offer placements, which impacts how and where their offer is displayed.
Statistically, those with lower insurance scores file more claims, so insurers will typically charge a higher rate due to a higher risk of loss:
As you compare car insurance quotes, pay attention to how the monthly premium you’re quoted stacks up against the total coverage being offered. Use these tips as a guide:
Now that you know how to compare quotes, you might be wondering how to choose the right car insurance company. Consider the following to help find the best fit for your needs and budget:
You’ll generally need this information on hand when requesting car insurance quotes:
“Insurance carriers take multiple variables into account when weighting risk, which can lead to different costs,” said Kate Long, a consumer financial wellness advocate at Assurance IQ. “For example, one carrier might heavily weight age as a risk factor, while for another, credit score could be more important.”
Although it’s illegal for a car insurance company to use certain factors like race and religion to calculate premiums, understanding which factors influence your car insurance rates can help you anticipate changes in your premiums and possibly find ways to reduce costs. Examples include:
Choosing the right car insurance coverage type hinges on your specific needs and your state’s car insurance requirements. Here’s what you should consider, according to Stephen Crewdson, a senior director at J.D. Power’s Global Insurance Intelligence Group at J.D. Power.
Liability insurance helps pay for someone else’s expenses if you’re legally responsible for an accident. This money can help cover the costs to repair their car or even pay for their medical bills.
“For most people, liability-only coverage makes sense only when they drive a vehicle that has a low enough market value that it is not worth insuring,” said Crewdson. “People make different decisions about what is a valuable enough vehicle to insure, but generally, it may not be worth insuring a vehicle worth a few thousand dollars.”
If your state requires you to carry other mandatory coverages like personal injury protection (PIP), medical payments (MedPay) or uninsured/underinsured motorist coverage, these will also be a part of a liability-only auto insurance policy.
Full coverage is generally required if you’re financing or leasing your vehicle. Beyond this, “anyone who would want financial help repairing a damaged vehicle or replacing a total loss vehicle should have adequate coverage,” said Crewdson.
A well-rounded “full coverage” auto insurance policy typically includes:
Crewdson gave this rule of thumb for choosing liability limits: “The more assets you stand to lose, the more coverage you should consider.” If you have considerable assets, Crewdson added, you might want to consider an umbrella policy, which “allows for more liability coverage than even the highest auto policy limits will cover.”
There are several types of optional coverage you may wish to add to your car insurance policy. If you’re unsure which add-ons are right for you, Crewdson recommends speaking with an insurance agent or using these tips to help you decide:
To calculate the average annual rates presented, we used data from Quadrant Information Services. With access to insurance rates across the country, Quadrant provided us average auto insurance rates for seven driver profiles, including drivers with a clean record, drivers with an accident causing injury on their record, drivers with an accident causing property damage on their record, drivers with a DUI on their record, drivers with poor credit, drivers with a speeding ticket on their record and drivers without prior insurance coverage. Our sample policy carried:
The average rates for minimum coverage are based on each state’s minimum auto insurance requirements.
Yes, you can compare car insurance quotes from different companies simultaneously. Independent insurance agents and brokers can gather quotes from various insurers on your behalf and help you evaluate the best options for your needs.
You can also use quote comparison websites like The Zebra and Assurance IQ. These platforms allow you to input your information once and receive multiple quotes side-by-side, making it easy to compare.
The best way to ensure you have an accurate quote is to match coverage types, deductibles and policy limits as closely as you can. You might not be able to make every limit exactly the same if companies have different options, but getting as close as possible will allow you to make a more direct comparison.
As Long stated earlier, car insurance companies weigh factors differently when calculating premiums. Even if you input all information exactly the same, some companies will naturally be more or less expensive than others, depending on which algorithms they use. Comparing car insurance quotes allows you to find the best coverage for your specific needs at the most competitive price.
Different models have varying repair costs, safety features and theft rates. Insurers consider these factors when determining premiums as they can indicate the likelihood of claims arising, their potential costs and their subsequent level of risk. So as you compare insurance quotes, know that the make and model of your car will impact the rates you receive from different companies.
Yes, most insurance companies can provide you with a quote based on the make, model and year of the car you intend to buy. You usually don’t need the VIN until you’re ready to buy a policy, but some insurers may require this information to provide a quote. This can be a good way to make sure the total cost of your car, including insurance, will work with your budget.
Editorial Disclaimer: Opinions expressed here are the author's alone, not those of any bank, credit card issuer, airlines, hotel chain, or other commercial entity and have not been reviewed, approved or otherwise endorsed by any of such entities.
This content is for educational purposes only and is not intended and should not be understood to constitute financial, investment, insurance or legal advice. All individuals are encouraged to seek advice from a qualified financial professional before making any financial, insurance or investment decisions.
Note: While the offers mentioned above are accurate at the time of publication, they're subject to change at any time and may have changed or may no longer be available.
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