Best Car Insurance Companies of 2023
Top Car Insurance Companies
It’s true that not all auto insurers are the same. To better understand the auto insurance landscape, particularly in regards to customer service, claims, and loyalty, we polled over 10,000 motorists. With that information in hand, we’ve ranked the top auto insurance providers of 2023 so you can easily choose the right policy for your needs.
Which Car Insurance Provider Is the Best?
When it comes to auto insurance, our 2022 research shows that USAA is the greatest option, but unfortunately, USAA’s services are restricted to active-duty military personnel and their families. When that isn’t a possibility, State Farm is our pick as the best alternative.
We considered customer service, claims processing, customer loyalty, and policy renewal rates as well as pricing statistics to find the top auto insurance providers. We also inquired as to the respondents’ propensity to advise their current insurance carrier to a motorist in the market for a new policy.
Let’s discuss the Best Car Insurance Companies of 2023
With the highest marks across the board, USAA has earned our highest recommendation for insurance. Our 2023 poll found that USAA customers are the most satisfied overall, and the most willing to renew their insurance and refer USAA to their friends and family who also drive. Additionally, our research shows that USAA offers the most competitive rates, 35% lower than the national average.
All members of the military and their families are eligible to get insurance from USAA, whether it be for their cars, homes, or apartments. Since this insurance has stringent requirements for policyholders, it does not cover every motorist.
2. State Farm
Aside from being ranked second overall, State Farm also performed well in our Claims Handling and Customer Loyalty categories. It also fared highly in our 2023 ranking of the most cost-effective auto insurers. In our analysis, the average premiums for drivers with less-than-stellar histories were the lowest with this provider.
In our overall ranking, farmers are tied for third place, and they also rank well in some of our more specific categories. It is ranked second for both customer service and customer loyalty and first for claims processing. Farmers’ rating of 4.0 for Most Likely to be Renewed is lower than the category average of 4.2, suggesting that customers may be looking elsewhere for insurance. It also has one of the highest yearly average rates among the organisations we assessed.
After previously ranking at No. 5, Nationwide has climbed two positions to tie at No. 3 in our 2022 forecast. We rank Nationwide second in Customer Loyalty and Most Likely to be Recommended, and above average in all other subratings. If you have a solid driving record or bad credit, you may qualify for rates lower than the national average with Nationwide.
We gave Geico average marks in a number of areas, including Claims Handling, Customer Service, and Customer Loyalty, and thus placed it in a tie for third place among the Best Car Insurance Companies of 2023. Having some of the lowest average rates for adolescent and elderly drivers, as well as those with weak credit, puts them in second place in our list of the Cheapest Car Insurance Companies of 2023.
While Allstate scored somewhat below-average marks in most of our other subrating categories, it rose three positions to tie for sixth place this year in our Best Car Insurance Companies rating and was named No. 4 in our Most Likely To Be Recommended subrating. Allstate’s prices are quite expensive relative to the others we looked at, but the company may have a good deal to offer drivers who have had tickets for speeding in the past.
The travel industry as a whole improved, jumping up two notches to share the sixth rank with another industry. Despite having a poorer customer service rating than seven other insurers we considered, Travelers ranked first in our subrating for Claims Handling and third for Most Likely to Be Renewed. The rates offered by Travelers Insurance are often cheaper than the national average, and the company has a renewal rate that is above average.
According to our research, Progressive is the eighth best. In overall, customers are pleased with Progressive’s policy-opening processes, but the company ranks dead last in our Best for Customer Loyalty category and receives below-average marks in every other subrating. Customers of Progressive have reported a decrease in their likelihood to either renew their insurance or suggest the company to friends and family that drive. However, with Progressive, even drivers with a DUI may be eligible for discounts. It has among of the most affordable rates for those motorists in our analysis.
The Automobile Association of America (AAA) is a new entrant to our Best Car Insurance Companies ranking, and it shares the No. 8 slot with Progressive. In every metric we used to evaluate it, it performed below par. However, in our Most Likely to be Renewed metric, it ranks sixth, above of companies like Allstate, Farmers, Progressive, and American Family. While our research shows that AAA has the highest average rates, we recommend that drivers who are contemplating AAA first seek a quotation to see whether their individual rate is more affordable.
10. American Family
This year, American Family fell four positions, landing at No. 10 in our rankings. It receives the worst ratings across the board, with the exception of our Best for Customer Loyalty category, where American Family narrowly beats Progressive. If you’re a young driver, have bad credit, or have had an accident or DUI in the past, you may still be able to get affordable car insurance via American Family.
Cost of Auto Insurance?
Our most recent analysis puts the average cost of auto insurance at $1,539. The amount you pay in premiums, however, may vary based on factors such as:
Log the Position of the Driver
Quantity and kind of protection
Estimated Payment Capacity
Discounts on auto insurance are often available.
Most insurance companies provide a variety of discounts to their customers based on their age, gender, marital status, and driving history. Getting free insurance quotes online is the quickest method to get an idea of what you could spend for car coverage. Quotes for auto insurance may be obtained in person, through phone, or via email with a licenced agent.
In what ways may I save money on auto insurance?
There are a number of variables that will determine how much insurance you really need. State standards are one of the most significant predictors of how much coverage you may need. Having some kind of liability insurance is mandated by law in the vast majority of states. Uninsured motorist insurance and personal injury protection are two kind of insurance that drivers are required to have in certain jurisdictions (PIP).
Next, you should think about the needs of your lender or lessor. The level of insurance you’re required to maintain depends on the terms of your auto loan or lease. To learn more, contact your bank, leasing company, or finance arrangement.