How much is car insurance full coverage

Why Trust MoneyGeek? MoneyGeek used multiple driver profiles and gathered data from state departments of insurance and Quadrant Information Services to help you find the cheapest full coverage auto insurance for your needs.

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Which Companies Have the Cheapest Full Coverage Car Insurance?

Full coverage car insurance costs an average of $1,270 per year. We analyzed the largest auto insurance companies across all 50 states to find the nine companies with the cheapest full coverage car insurance rates. The three cheapest companies are:

  • GEICO: $941 per year.
  • State Farm: $1,114 per year.
  • USAA: $817 per year, but only available to drivers with a military background.

Discover more details about the top three cheapest full coverage car insurance providers below.

The Cheapest Widely-Available Insurer: GEICO

How much is car insurance full coverage

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Ensure you are getting the best rate for your car insurance. Compare quotes from the top insurance companies.

How Much is Full Coverage Car Insurance in Your State?

Car insurance is regulated by the states, so the cheapest companies for full coverage at a national level might not necessarily be the cheapest company in your state. MoneyGeek found that GEICO, the cheapest company for full coverage nationally, is also most likely to be the cheapest on average in your state. It had the lowest rates in 24 of the 50 states plus Washington D.C.

State Farm is the cheapest for full coverage in nine states, while both Nationwide and Erie — the cheapest option in three states each — round out the top four.

However, If your military background makes you eligible, USAA could be your cheapest choice. It was the most affordable for our sample driver in 38 states.

Browse to your state below to learn more about the cheapest full coverage policies where you live.

Cheapest Full Coverage Car Insurance Rates by State (Excluding USAA)

Cheapest Full Coverage Car Insurance for Young Drivers

MoneyGeek found that nationally, the most common cheapest full coverage car insurance company for young adult drivers is Geico, though the cheapest option for high school-aged teens is State Farm. These rates were discovered using a profile with the sample driver on their own policy (not bundled with a parent's policy), using $1,000 deductible and 100/300/25 coverage limits.

To discover the cheapest and best car insurance for young drivers, you will need to consider not only your age, but the state you live in, your deductible and coverage limits, and what discount programs you may be eligible for.

How much is car insurance full coverage

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Economics Professor at the University of Mary Hardin-Baylor

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Associate Professor of Marketing at Case Western Reserve University

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Professor of Finance at Rutgers Business School; Author of Buffett's Tips: A Guide to Financial Literacy and Life

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Daniel Roccato

Clinical Professor of Finance at the University of San Diego School of Business

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Jeffrey Brown

Professor of Finance at Johnson University

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Mike Schmisek

Owner of Premier Mountain Insurance

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Brian J. Cook

Founder | Managing Partner of The Insurance Loft

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Salil K. Sarkar, PhD, CFA

Professor of Finance, Coordinator, Doctoral Finance Program at The University of Texas at Arlington

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Professor of Finance at Florida Gulf Coast University

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Account Executive at Royalty Insurance

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Enrique Ruiz

Owner of E&L Insurance Services

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Jon Hooks

Department Chair and Professor of Economics and Management at Albion College

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Assistant Professor of Marketing at Neumann University

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Kenneth Roskelley

Professor of Finance at Mississippi State University, College of Business

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Robert Warren

Instructor at The University of North Dakota

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Duane Donaldson

Finance Instructor at Columbus State Community College, MBA, CPA

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Nicole Lamanes-Webster

Licensed Agent at Insurance Brokers of Arizona

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Dr. Geo Kelly

Assistant Professor of Marketing at Southwestern Oklahoma State University

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Dr. Matt Lutey

Assistant Professor of Finance at Indiana University Northwest

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Dr. Mohan Menon

Professor of Marketing at the University of North Georgia

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Khai Zhi Sim

Assistant Professor, Economics and Finance at Eastern Connecticut State University

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Dr. Ali Enami

Assistant Professor, Economics at The University of Akron

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Sterling Raskie

Lecturer of Finance, Gies College of Business at the University of Illinois

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Dr. S. Eric Anderson

Professor of Management and Economics at La Sierra University

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Dr. Randal Ice

Barnabas Professor of Finance at the University of Central Oklahoma

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Dr. Dylan Minor

Chief Strategist and CIO at Omega, Professor at Anderson School of Management, UCLA

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Alice Tsang

Professor in the Practice of Economics and Business at Gordon College

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Dr. Kamala Raghavan

Department Chair, Jesse H. Jones School of Business at Texas Southern University

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Patrick Payne

Professor of Finance at Western Carolina University

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Dr. Xiaomin Guo, CFP®

Finance Instructor, Kate Tiedemann School of Business & Finance, University of South Florida

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Christian Teeter, Ed.D.

Associate Professor, Business Administration at Mount Saint Mary's University, Los Angeles

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Stephen Calkins

Professor of Law at Wayne State University

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Dr. Craig R. Erwin

Associate Professor Management at Eastern Connecticut State University

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Susan Hume, PhD

Associate Professor Finance at The College of New Jersey

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Art Rossetti

Insurance Agent at Gateway Insurance Group

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Dick Verrone

Executive in Residence of Finance, Cameron School of Business, University of North Carolina Wilmington

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William Martin

Associate Professor of Marketing at Eastern Washington University

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Victor Ricciardi

Visiting Assistant Professor of Finance at Washington and Lee University

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Dr. Ying Zhen

Associate Professor of Business and Economics at Wesleyan College

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Nicole McConlogue

Assistant Professor and Clinic Director, WVU College of Law

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Dr. Robert Ramirez

Faculty Chair and Business Professor at DeVry University

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Dr. Andy Terry

Professor of Finance at The University of Arkansas at Little Rock

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Georg Grassmueck

Department Chair and Associate Professor of Business Administration at Lycoming College

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Dr. Zachary Klingensmith

Visiting Professor of Economics at Washington & Jefferson College

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Dr. Nan Zhu

Associate Professor of Risk Management at the Smeal College of Business, Pennsylvania State University

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Adjunct Professor at Goodwin University, Principal of Ako Brokerage Services, LLC

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Mathew S. Isaac, Ph.D.

Professor of Marketing, Albers School of Business and Economics at Seattle University

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Stacy Mastrolia

Associate Professor of Accounting at Bucknell University

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Pavel Yakovlev, Ph.D.

Associate Professor of Economics, Palumbo Donahue School of Business at Duquesne University

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Ramon DeGennaro

HCB Professor of Banking and Finance at The University of Tennessee, Knoxville

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Chris Tamm

Associate Professor of Finance at the Earl G. Graves School of Business and Management at Morgan State University

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The average cost of car insurance in 2022 What we discovered is that the average monthly insurance cost comes to R1,322.13 which is handy to know…

What is included in full coverage?

Full coverage car insurance is a term that describes having all of the main parts of car insurance including Bodily Injury, Property Damage, Uninsured Motorist, PIP, Collision and Comprehensive. You're typically legally required to carry about half of those coverages.