Unlock the Best: Top Insurance Companies for Home and Auto in 2024

For those seeking the best auto insurance companies and most affordable insurance premiums in 2024, this guide will evaluate insurers based on their bundling discounts, auto and home insurance costs, AM Best ratings, and level of customer complaints. We’ll highlight our top picks for bundling home and auto insurance while providing advice on comparing policies, bundle costs, potential savings, and whether combining coverages is the right choice based on your needs and state’s insurance laws and regulations.

The Best Car Insurance Company Overall

According to our industry-wide research, Travelers is the best car insurance company overall for most drivers in 2024. The provider offers a stellar customer service experience for policyholders, along with affordable pricing and a wide range of coverage options to fit most drivers’ needs.

Why Travelers Tops the List

Travelers tops our list as the company with the best overall score in 2024 out of the insurers we ranked. Because our auto insurance ratings reward companies for customer-first features and practices, this category represents an overall solid choice for drivers seeking a well-rounded insurance company.

You can get all the standard auto coverage options from Travelers, along with extras like new car replacement coverage and gap insurance, both of which are useful if you drive a relatively new vehicle. Travelers also offers a host of car insurance discounts.

While Travelers is the highest-rated provider overall, the best car insurance company for a specific person can vary heavily depending on one’s overall needs. For example, Nationwide is an excellent choice for drivers with poor credit or those adding a teen driver to their policy due to its affordable rates for those groups.

Top Car Insurance Companies Overall

According to our comprehensive analysis, the 10 best car insurance companies are:

Travelers
State Farm
Erie Insurance
USAA
Nationwide
Geico
Liberty Mutual
American Family
Progressive
Country Financial

Each company offers a wide selection of insurance coverage options at affordable prices along with good customer service.

The Most Affordable Car Insurance Company

Cheapest Large Insurers for Minimum Coverage

State Farm is the cheapest car insurance company among large insurers, with an average rate of $39 per month for minimum coverage, according to NerdWallet’s analysis. State Farm’s average annual rate for good drivers was $471 or about $39 per month for minimum coverage, earning it a 5-star rating from NerdWallet.

Here are the cheapest large insurers for minimum coverage:

State Farm
Geico
Progressive
Allstate
Nationwide

Cheapest Midsize Insurers for Minimum Coverage

Among midsize companies, American National offers the cheapest auto insurance, with an average rate of $27 per month for minimum coverage.

Here are the cheapest midsize insurers for minimum coverage:

American National
Erie Insurance
USAA
Auto-Owners Insurance
Farmers

Affordable Options for Drivers with Poor Credit

If you’re looking for affordable car insurance from a large company and have poor credit, Geico might be a good option. Based on NerdWallet’s analysis of large insurers, the company has the lowest average rates for good drivers with poor credit, at $689 per year or $57 per month.

Cheapest Options for High-Risk Drivers

Based on Bankrate’s research, Auto-Owners offers the cheapest minimum coverage car insurance rates for high-risk drivers who have one speeding ticket conviction. For full coverage premiums, their proprietary data shows that USAA may offer low average rates for drivers with a DUI.

To potentially lower your rates after a speeding ticket, consider taking a driver safety course, as this can often lead to the violation being removed from your driving record in many states.

Other Factors Affecting Affordability

The national average for a full coverage car insurance policy is $2,299 per year, and minimum coverage averages $637 per year. However, your quoted rate can vary significantly depending on factors like the vehicle you drive, your driving record, available coverage options, and discount selections.

Unless you live in California, Hawaii, Massachusetts, or Michigan, your credit history can also impact your car insurance premium, with drivers with poor credit potentially paying similar premiums to those with a DUI conviction.

For minimum coverage, Geico might be a good cheap option for new drivers as well.

The Best Car Insurance Company for Accident Forgiveness

According to WalletHub’s analysis, the best accident forgiveness insurance companies are Allstate and Geico. These companies offer the best accident forgiveness options at affordable prices and receive great customer service ratings.

Allstate

Allstate accident forgiveness is available as part of Allstate’s Gold and Platinum “Your Choice Auto” packages. The cost of these packages varies by state and driver.

Details:

With the Gold package, each policy can have one accident forgiven every three years.
The Platinum package allows an unlimited number of accidents to be forgiven.
With enrollment in the Platinum program, a customer can keep their safe driver discount after a forgiven accident.
The Platinum program includes a diminishing deductible feature, which lowers a customer’s deductible by $100 for every year of safe driving, up to a maximum reduction of $500.
No accident surcharge will be added after a forgiven accident.
A customer must qualify as a good driver to receive accident forgiveness (rules vary by state).
Allstate accident forgiveness is not available in all states.

Geico

Geico accident forgiveness is free for qualifying safe drivers after five years. Drivers can also purchase it as a supplemental coverage option, although the cost varies by state.

Details:

One accident can be forgiven every 3-5 years, depending on the state.
Drivers must be accident-free for five years in order to qualify for free accident forgiveness.
Accident forgiveness can be purchased as a policy add-on by drivers who meet certain driving-record requirements. Specific requirements vary by state.
Your premium will not increase after a forgiven accident.
No accident surcharge will be added after a forgiven accident.
Customers can keep their good driver discount after a forgiven accident.
Geico accident forgiveness is not available in all states.

Geico offers two potential ways to get accident forgiveness so your rates won’t increase and you won’t lose your good driver discount after a crash. You can earn it for free by remaining an accident-free Geico customer for five years, or you can pay for it. Accident forgiveness can be used for any eligible driver on your policy, but it isn’t available in California, Connecticut and Massachusetts.

The Car Insurance Company With the Fewest Customer Complaints

According to our analysis, American Family received far fewer customer complaints for auto insurance than similar-size companies and received the fewest complaints out of the insurers on our 2024 best companies list. The company spotlights its Facebook customer reviews on its main website and encourages customers to voice concerns and opinions through multiple customer support channels, including over the phone, email, and site feedback.

American Family’s Low Complaint Rates

American Family’s average annual rates for a 35-year-old driver with good credit are as follows:

Driving Record	Full Coverage	Minimum Coverage
Good Driver	$1,791	$687
Driver with an At-Fault Accident	$2,642	$1,018
Driver with a Recent DUI	$2,433	$889
Driver with a Recent Speeding Ticket	$2,167	$832

Despite its competitive rates, American Family stands out for its exceptional customer service, as evidenced by the low number of complaints filed against the company.

Other Companies with Few Complaints

Our analysis finds that Nationwide, USAA, Travelers, and Erie are also among the best car insurance companies, all receiving over 4.5 stars (out of 5) in our ratings. These companies have low levels of customer complaints, with complaint ratios below the industry average of 1.00.

Nationwide, in particular, is the best overall car insurance company thanks to its great rates for a variety of driving records and driver ages, its wide range of coverage options, and its low level of complaints. ¹⁸ The National Association of Insurance Commissioners (NAIC) data, which is used to monitor and log complaints against companies operating in each state, shows that most auto insurance complaints center on claims, including unsatisfactory settlements, delays, and denials.

The Car Insurance Company With the Best Financial Strength

A company’s financial strength is one of the most important factors to consider when choosing an insurer, since it indicates a company’s ability to pay a claim. For this category, NerdWallet leaned on AM Best’s financial strength rating, which measures an insurer’s ability to meet its policy and contract commitments. ²¹ Auto-Owners exhibits a strong financial backing and ability to pay insurance claims.

Top Insurers with Excellent Financial Strength

Geico, State Farm, Travelers and USAA tied Auto-Owners for financial strength. These insurers have received the highest possible rating from AM Best, indicating their superior ability to meet their ongoing insurance obligations.

Insurer	AM Best Rating
Auto-Owners	A++ (Superior)
Geico	A++ (Superior)
State Farm	A++ (Superior)
Travelers	A++ (Superior)
USAA	A++ (Superior)

An insurer’s financial strength rating from AM Best is a crucial consideration when selecting an auto insurance provider. A high rating signifies that the company has the resources to reliably pay out claims, even in challenging economic conditions. The insurers listed above have demonstrated exceptional financial strength, making them dependable choices for policyholders seeking peace of mind.

The Car Insurance Company Offering the Most Discounts

Shopping around and comparing car insurance quotes certainly pays off. That’s because prices vary from company to company. The best decision you can make is to get at least three price quotes from different companies.

Common Car Insurance Discounts

Many things affect the cost of a car insurance policy. One way to get cheaper car insurance is to take advantage of discounts offered by your insurance company. Though some individual discounts may seem small, they can add up. Taking advantage of multiple discounts can result in substantial savings over the course of a year.

It’s important to ask about discounts when you’re considering a new policy, renewing an existing policy, or any time you’re evaluating what you pay for car insurance. Are you saving as much as you can?

All of the insurers in our rating of the Best Car Insurance Companies offer discounts. Possible savings opportunities vary by insurer, but commonly include:

Good (Safe) Driver Discount

One common discount can reward drivers for being responsible behind the wheel. This is often defined as going a specified period of time without being in an accident or being cited for moving violations like speeding or driving recklessly.

Student Discount

Students who are enrolled in high school or college and maintain a certain average grade (typically a B or better) may be able to save money with this type of discount.

Anti-Theft Device Discount

Having security devices such as an alarm or a tracking device in use on your vehicle may help you save on car insurance.

Paperless Discount

This type of discount offers a savings for opting to receive policy documents in electronic format.

Military Discount

Some car insurers may offer a discount to current or former members of the military.

Automatic Payments Discount

Some auto insurers offer a discount for policyholders who set up automatic premium payments. This may be done with a debit or credit card, or through an electronic funds transfer (EFT).

Loyalty Discount

Some car insurers may offer a price break for renewing your policy.

Low-Mileage Discount

Insurers may offer a rate tailored to your driving habits, including the number of miles you drive. This may involve an app or other device that can track your driving habits.

Bundling or Multipolicy Discounts

If you purchase two or more insurance policies from the same insurer – auto, home, renters, etc. – you may be eligible for a multipolicy or bundling discount. You may also be able to get a discount for insuring two or more vehicles through the same insurer, which is typically called a multi-car discount.

The biggest advantage of bundling is the potential savings. Another benefit is the convenience of managing all your insurance policies on the same website or by calling the same customer service number.

The average car insurance policy costs $2,068 annually, according to our analysis of car insurance rates, so it’s easy to see the appeal of lowering your premium through bundling.

Insurers in our rating of the Best Home and Auto Insurance Bundles offer discounts of 10% to 25% or more for combining policies. But there’s no guarantee that your discount will be as significant. You’ll only know if bundling is right for you by doing your research and comparing quotes from multiple insurers.

The Insurance Information Institute (III) recommends comparing quotes from at least three insurance companies. Many insurers will provide you with a free auto insurance quote online, over the phone, or in person with a licensed agent.

Some companies can offer you price reductions with a group plan. Such group plans may be available to you from your employer, clubs, or associations that you’re a part of.

Also known as bundling, it’s still one of the most significant discounts you can get. To bundle your insurance policies means purchasing at least two types of insurance from the same issuer. For example, you can buy auto and home insurance, which will usually give you the largest multi-policy discount. At insurers such as Allstate, the discount can reach as much as 25%.

Another significant discount is the multi-car discount. If you insure two vehicles together, you can pay a lower rate compared to insuring them individually. Buying insurance policies for two or more cars from the same issuer will get you a multi-car discount, which can be as high as 25% with some insurers.

This discount is only for full-time students with good grades. High school or college students will typically need at least a 3.0 GPA and will also need to be younger than 25 years old to qualify. Insurers that offer good student discounts, which can be as much as 25%, will want students to provide a record of their grades.

You may be surprised that owning a home can get you an auto insurance discount. Insurance companies offer this discount even when the client buys home insurance from another company. The reason is that homeowners tend to be more stable than renters.

If you’re a long-time customer or carry more than one insurance policy, you can get rewards for your loyalty. You may qualify for a discount when you move one of your insurance policies to your auto insurance company.

The Car Insurance Company With the Best Customer Satisfaction

According to multiple studies and surveys, State Farm and USAA consistently rank among the top car insurance companies for customer satisfaction.

State Farm’s High Customer Satisfaction Ratings

State Farm, the largest personal auto insurance company in the country, ranked No. 1 among eight large insurers in J.D. Power’s 2023 U.S. Insurance Shopping Study. The same year, it ranked No. 5 out of 24 companies in J.D. Power’s U.S. Auto Claims Satisfaction Study and first for overall satisfaction in the Southwest region. State Farm is widely regarded as the best car insurance company for customer satisfaction.

USAA’s Exceptional Customer Service

USAA consistently receives top ratings for customer satisfaction across various studies and surveys. In The Zebra’s Customer Satisfaction Survey, USAA secured the first place, topping nearly every category. Among the ten largest insurers by market share in the United States, USAA took first place, followed by American Family Insurance and Travelers.

In another survey, USAA came out on top with the best customer service score overall and was deemed the most trustworthy among respondents. The company also excelled in online satisfaction, ranking first in that category.

Other Highly-Rated Companies

Erie Insurance and American Family also rank highly in terms of customer satisfaction. Erie Insurance came in second on the list of best car insurance companies, with an overall score of 8.5 out of 10. American Family secured the third place overall with a score of 8.4 out of 10.

In a separate study, Erie emerged as the company that customers were most likely to recommend to others, closely followed by USAA and Auto Club (AAA) in the top three positions.

Rank	Company	Overall Customer Satisfaction Score
1	USAA	9.1
2	Erie Insurance	8.5
3	American Family	8.4

These rankings and survey results highlight the companies that consistently deliver exceptional customer service, claims handling, and overall satisfaction to their policyholders. ³¹ ³⁰ ³²

The Best Car Insurance Company for Military Members

USAA: Cheapest Car Insurance for Veterans and Military

If you’re looking for the cheapest car insurance for military and veterans, USAA is a good place to start. It has the cheapest rates on average among the military car insurers. USAA is the only major insurance company that caters exclusively to former and current service members and their families, including:

Those currently enlisted in the Air Force, Army, Coast Guard, Marines, Navy, National Guard, and Reserves
Retired or honorably discharged military members
Those in U.S. service academies, in advanced ROTC or on ROTC scholarship, plus officer candidates within 24 months of commissioning
Family, including widows, widowers, and unremarried former spouses who had USAA insurance while married, as well as children whose parents have or had USAA insurance

USAA’s auto insurance is available in all 50 states, Washington D.C., and some international locations. In addition to low rates and coverage options for unique circumstances, such as for active-duty members, customers have access to an intuitive mobile app. USAA stands out for its low average rates across a variety of policies and consistently receives top marks for customer service from J.D. Power.

Geico: Best Military Car Insurance Discount

Geico offers up to a 15% auto insurance discount for retired or active duty military, National Guard members, those enlisted in the Reserves, and members of military professional organizations like the Navy Federal Credit Union. It also offers up to a 25% emergency deployment discount, with some limitations, to military members who:

Are deployed to “imminent danger pay areas” defined by the Defense Department
Store their cars according to an approved storage protection plan

Current and former members of the military can get exclusive discounts with Geico, one of the largest auto insurers in the U.S. Additionally, military members have access to a dedicated phone line for the company that’s staffed by veterans.

Arbella: Best Deployment Discount from a Small Company

Arbella’s 10% discount is available to Massachusetts customers deployed on active duty at least 100 miles from their car.

Armed Forces Insurance: Best Military Car Insurance Agency

While there are no specific discounts listed online, Armed Forces Insurance is an agency, so it can give you quotes from multiple insurers within its network. Like USAA, Armed Forces Insurance provides auto insurance for veterans, active-duty personnel, and their families. However, it expands coverage beyond the military and includes active or retired Department of Defense employees. Armed Forces Insurance caters exclusively to the military community, making it one of the best options for military car insurance. In addition to competitive rates, it offers comprehensive-only insurance and allows active duty members to avoid penalties for lapses in coverage.

Other Military Discounts

Farmers Insurance offers a discount for military members, though the exact percentage is not specified. It’s also one of the top choices for bundling home and auto insurance, which could help you save if you need to insure both.

Liberty Mutual offers a competitive 10% military discount for car insurance, as well as additional savings for members of the Military Benefits Association. In addition, Liberty Mutual’s comprehensive-only insurance option makes it a great choice for active servicemembers anticipating deployment.

Unlike some competitors, Progressive does not have a military discount. But they still provide special perks for active duty military members, such as offering comprehensive-only insurance for vehicles stored during deployment and overlooking lapses in coverage while a customer is on active duty, allowing them to still qualify for a continuous coverage discount.

Conclusion

In summary, finding the best car insurance company involves considering various factors, including cost, coverage options, discounts, customer satisfaction, and financial strength. Companies like Travelers, State Farm, USAA, and Geico consistently rank highly across these criteria, offering affordable rates, excellent customer service, and strong financial backing.

While price is undoubtedly a major consideration, it’s essential to evaluate each company’s offerings holistically to ensure you receive the appropriate coverage and service for your individual needs. Ultimately, conducting thorough research, comparing quotes, and understanding your specific requirements will help you make an informed decision when choosing the best car insurance provider.

FAQs

Which Homeowners Insurance Companies Are Most Favored by Customers?

Amica, AIG, and Erie Insurance stand out for their high levels of customer satisfaction, especially regarding property claims, as highlighted in a 2024 study by J.D. Power. Conversely, Travelers and Homesite have received lower ratings for their customer service during the claims process.

Which Company Offers the Best Combined Car and Home Insurance?

The question of which company provides the best bundled car and home insurance is popular but requires specific analysis based on individual needs, coverage options, and pricing.

What Is the Top-Rated Homeowners Insurance Company?

Allstate has been identified as the leading homeowners insurance company in a comprehensive review, offering the best overall coverage. State Farm is noted for its cost-effective insurance options, while American Family is praised for its valuable online tools and resources.

Which Company Is Considered the Leading Home Insurance Provider in the U.S.?

State Farm holds the title as the largest home insurance provider in the United States, securing nearly 18% of the homeowners insurance premiums paid in the country. This is twice as much as its nearest competitor. State Farm’s offerings extend beyond home insurance to include auto, property, small business, life, health, disability, and even pet medical insurance.