Which Car Insurance Rate is the Cheapest ?
Welcome to the blog post "Which Car Insurance Rate is the Cheapest?"
This article will explore various car insurance rates in order to help you find the cheapest option for your needs. A simple Google search can often lead to a complicated system of results. We have done our research and put together this guide. The information here is based on what we found from reliable sources like Progressive, Geico, and Allstate.
The key to finding the best car insurance rates is to shop around and do your research. We recommend checking out our blog post comparing the various coverage types from each company.
Be sure to read the fine print and differentiate between special discounts and discounts available for multiple drivers or uninsured motorists. The cost of auto insurance is rising due to new mandated premiums, so our advice is to be proactive in finding a low price that works for you!
Allstate: No-Fault State Car Insurance
Allstate has been rated as one of the best car insurance companies by Consumer Reports for their low cost quotes. We found that cheaper car insurance quotes were available for drivers in no-fault states. The prices we found are based on a driver with a 2007 Toyota Camry.
Allstate Car Insurance Rates by Coverage Type
Coverage Type Comparison
$100,000/$300,000/$50,000 $500 Deductible State Farm Geico Progressive Allstate Coverage Amount $250,000 $250,000 $250,000 $100,000 Collision No No Yes No Fire and Theft Yes Yes No No Medical Coverage Yes Yes Yes No Uninsured/Underinsured Motorist Coverage Optional Optional Optional Required
As you can see above we compared the cost of insurance for 3 drivers on each company's website. The "discount" was calculated by subtracting the lower cost provider from the highest cost provider. The results were as expected: Allstate offers the cheapest insurance rates. Their rates are so low that out of state drivers will save money regardless of where they live.
Geico: No-Fault State Car Insurance
We did a similar search for Geico and found that rates were also lower in no-fault states. The reason for this is that Geico does not offer coverage for medical bills if you are found at fault in an accident. They will still offer full coverage in no-fault states.
We found that, on average, Geico and Progressive were the cheapest providers for a driver with a 2007 Toyota Camry.
Here is the full breakdown for Geico Car Insurance Rates by Coverage Type
Coverage Type Comparison
$100,000/$300,000/$50,000 $500 Deductible State Farm Geico Progressive Allstate Coverage Amount $250,000 $250,000 $100,000 $500 Collision No No Yes Yes Fire and Theft Yes Yes No No Medical Coverage Optional Optional Required Optional Uninsured/Underinsured Motorist Coverage Required Optional Required Optional
Geico's website is not rated highly. This means that other sites such as the "media reports" section of Yahoo! are unable to provide reliable information. We did not find any data for a 2007 Toyota Camry. Geico does offer discounts for buying multiple policies, so be sure to check their policy offerings if you are purchasing more than one.
Progressive: No-Fault State Car Insurance
The next insurance provider we checked was Progressive. We did NOT find any special discounts on their website for drivers in no-fault states. There were some differences in the rates shown between the different ages of drivers, but overall, the rates were similar to Allstate and Geico above.
We found that out of state drivers paid lower rates by checking a 2007 Toyota Camry on Progressive's website.
Here are the results for Progressive Car Insurance Rates by Coverage Type
Coverage Type Comparison
$100,000/$300,000/$50,000 $500 Deductible State Farm Geico Progressive Allstate Coverage Amount $250,000 $250,000 $100,000 $500 Collision No No Yes Yes Fire and Theft Yes Yes No No Medical Coverage Optional Optional Required Optional Uninsured/Underinsured Motorist Coverage Required Optional Required Optional
We found that out of state drivers paid lower rates by checking a 2007 Toyota Camry on Progressive's website. We compared the rates shown on their website to the base rate offered by each car insurance provider. This is not necessarily a direct comparison because they list their base rates for different coverage amounts.
We found that out of state drivers paid lower rates by checking a 2007 Toyota Camry on Progressive's website. The "discount" was calculated by subtracting the lower cost provider from the highest cost provider.
GEICO and Allstate: Car Insurance for Out of State Drivers
If you live out of state, you may be able to get a cheaper quote by purchasing your insurance through an in-state agent. Check out our guide on " How to Get Cheap Car Insurance for Out of State Drivers !" We explain how each company compares and offer tips on how to get cheap car insurance quotes. Stop paying high premiums!
The information we presented in this article is based on research conducted in March 2014. The information may not be valid at a future date. We did our best to provide accurate information, but we recommend you do your own research to ensure the information is still accurate. The purpose of this article is purely for entertainment, so please do not base any important decisions on the data presented here without further research.
This was a guest post written by Michael D about his Car Insurance Guide blog: www.carinsuranceguide.org . His goal is to provide cheap car insurance quotes for out of state drivers and help people save money on their car insurance premiums! Thanks Michael! Source(s): State Farm : https://www.statefarm.com/agent/US/CA/Lancaster Geico: http://www.
Conclusion Providers like Geico and Allstate offer significantly cheaper rates for out of state drivers. We found that the rates were about 10% percent lower! This is significant because it may be possible to save hundreds of dollars every year just by relocating. Be sure to check out this article for tips on how to get more personalized quotes!
For more information, check out Mike's Car Insurance Guide Blog!
Disclaimer: The information provided in this article is to be used for educational purposes only. The author is not a licensed insurance agent or financial advisor. This article should not be used as a substitute for expert advice from qualified professionals. Please verify all information obtained from this article before making any financial decisions based on it.