Cheap Auto Insurance for Smart Cars in 2024 (Your Guide to the Top 10 Providers)
Erie Insurance, Safeco and State Farm offer cheap auto insurance for smart cars under $40, ensuring affordability, compliance with state regulations and protection against risks. We’ll help you compare the cost of insurance on smart cars from top providers and find the best coverage and discounts for your car.
Free Car Insurance Comparison
Compare Quotes From Top Companies and Save
Secured with SHA-256 Encryption
Laura D. Adams
Insurance & Finance Analyst
Laura Adams is one of the nation’s leading finance, insurance, and small business authorities. As an award-winning author, spokesperson, and host of the top-rated Money Girl podcast since 2008, millions of readers and listeners benefit from her practical advice. Her mission is to empower consumers to live healthy and rich lives by planning for the future and making smart money decisions. She rec...
Insurance & Finance Analyst
UPDATED: Apr 16, 2024
It’s all about you. We want to help you make the right coverage choices.
Advertiser Disclosure: We strive to help you make confident auto insurance decisions. Comparison shopping should be easy. We are not affiliated with any one auto insurance provider and cannot guarantee quotes from any single provider. Our partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different companies please enter your ZIP code on this page to use the free quote tool. The more quotes you compare, the more chances to save.
Editorial Guidelines: We are a free online resource for anyone interested in learning more about auto insurance. Our goal is to be an objective, third-party resource for everything auto insurance related. We update our site regularly, and all content is reviewed by auto insurance experts.
UPDATED: Apr 16, 2024
It’s all about you. We want to help you make the right coverage choices.
Advertiser Disclosure: We strive to help you make confident auto insurance decisions. Comparison shopping should be easy. We are not affiliated with any one auto insurance provider and cannot guarantee quotes from any single provider. Our partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different companies please enter your ZIP code on this page to use the free quote tool. The more quotes you compare, the more chances to save.
On This Page
1,814 reviewsCompany Facts
Avg. Monthly Rate for Smart Cars
A.M. Best Rating
Complaint Level
Pros & Cons
1,814 reviews
1,164 reviewsCompany Facts
Avg. Monthly Rate for Smart Cars
A.M. Best Rating
Complaint Level
Pros & Cons
1,164 reviews
17,754 reviewsCompany Facts
Avg. Monthly Rate for Smart Cars
A.M. Best Rating
Complaint Level
Pros & Cons
17,754 reviews
Drivers can find cheap auto insurance for smart cars with Erie Insurance, SafeCo, and State Farm.
Smart car insurance premiums remain low thanks to their affordability and impressive safety ratings. With rates under $100, top providers options offer financial security and peace of mind for smart car owners, ensuring they meet state requirements without breaking the bank.
Company Rank Monthly Rates A.M. Best Best For Jump to Pros/Cons
#1 $22 A+ Customer Service Erie
#2 $27 A++ Extensive Discounts Safeco
#3 $33 A++ Coverage Options State Farm
#4 $37 A+ Budgeting Tools Travelers
#5 $39 A Loyalty Discounts Progressive
#6 $43 A+ Accident Forgiveness American Family
#7 $44 A Customizable Policies Nationwide
#8 $53 A Customizable Policies Farmers
#9 $61 A+ Customized Policies Allstate
#10 $68 A 24/7 Support Liberty Mutual
We’ll explore the factors influencing smart car insurance costs and find the right coverage for your needs.
Compare smart car insurance costs from leading insurers by entering your you zip code.
- Erie Insurance, Safeco and State Farm offer cheap smart car auto insurance.
- Ensure you get access to cheap auto insurance for smart cars by comparing quotes.
- Consider discounts to get even further savings on your smart car auto insurance.
1. Erie-Top Overall Pick
Pros
- Superior Financial Strength: Erie has been in business for over 90 years and is rated highly by AM Best.
- Lots of Discounts: Erie offers many ways to save money on smart car insurance costs, like discounts for having multiple policies or driving safely. Check out our review of Erie auto insurance to review available discounts.
- High Quality Customer Service: Many customers say Erie handles claims quickly and has helpful staff.
Cons
- Limited Availability: Erie only operates in 12 states, mostly in the Northeast and Midwest.
- Higher Prices for Risky Drivers: Erie might charge more if you’ve had accidents or tickets in the past.
Free Auto Insurance Comparison
Enter your ZIP code below to view companies that have cheap auto insurance rates.
Secured with SHA-256 Encryption
2. Safeco-Best for Extra Features
Pros
- Multiple perks available: As an incentive to being a policyholder, Safeco offers a few different perks, including Accident forgiveness, diminishing deductible and claims-free cash back.
- Divers add-on options: Beyond basic auto insurance coverage for smart cars, Safeco offers multiple add-ons for even further protection.
- Safeco RightTrack Program: Enrolling in Safeco’s RightTrack program saves drivers up to 25% on insurance by tracking driving habits. You can learn more about this UBI program in our Safeco auto insurance review.
Cons
- Limited discount options: Compared to other auto insurance providers, Safeco only offers a handful of discount options to drivers.
- Online quotes unavailable: To get a quote from Safeco, you have to work with an agent.
3. State Farm-Best for Mobile App
Pros
- Favorable Reputation: State Farm auto insurance stands out for its top ratings in customer service, claims processing and coverage quality.
- User-Friendly Mobile App: The State Farm app makes tasks like filing claims, making payments, and policy tracking simple and convenient.
- Variety of Coverage Options: State Farm offers insurance tailored to your needs, from state minimums to full coverage. A full list of coverage options is available in our State Farm Auto Insurance Review.
Cons
- Lack of Add-Ons: State Farm doesn’t offer new vehicle replacement, vanishing deductibles or accident forgiveness.
- High Rates for Drivers with Poor Credit: Smart car drivers with poor will likely see high rates.
4. Travelers-Best for Accident Forgiveness
Pros
- Responsible Driver Program: Travelers’ Responsible Driver plan prevents rate hikes following your first accident or traffic offense, offering potential long-term advantages for smart car drivers despite the additional expense.
- Diverse Coverage Options: Travelers provides basic insurance along with additional options like gap and rental coverage. Additional details on coverage options are available in our Travelers auto insurance review.
- Multiple Discount Options: Travelers offers discounts for safe driving, bundling policies, owning hybrid/electric cars and more.
- Accident Forgiveness: If eligible, your rate stays stable after the first accident.
Cons
- Varied Customer Feedback: While many customers are happy, some complain about the claims process and quality of the customer service.
- Travelers IntelliDrive program might lead to rate increases: If drivers perform poorly on the app, one of Travelers’ auto insurance discount programs could result in higher rates.
Free Auto Insurance Comparison
Enter your ZIP code below to view companies that have cheap auto insurance rates.
Secured with SHA-256 Encryption
5. Progressive-Best for Budget-Friendly Coverage
Pros
- Budget-Friendly Options: Use Progressive’s Name Your Price tool to find coverage for your smart car within your monthly budget.
- Drive Safe, Save More: Progressive offers Snapshot, a program where safe drivers can save money.
- Affordable Rates for Risky Drivers: Progressive provides low rates for high-risk drivers seeking savings.
- Loyalty Rewards: Enjoy increasing discounts based on how long you’ve been a Progressive policyholder. Explore more discounts in our Progressive auto insurance review.
Cons
- Significant Rate Hikes After Accidents: Progressive may impose large rate increases following at-fault accidents.
- Snapshot Risk: Participation in Snapshot could lead to rate increases if driving habits aren’t safe.
6. American Family-Best for Bundling
Pros
- Bundle and Save: Get discounts by combining your auto policy with other American Family products.
- KnowYourDrive program: Safe drivers can earn up to 30% off with American Family’s KnowYourDrive program.
- Great Customer Service: American Family is known for its top-notch customer service.
Cons
- Coverage Not Available Nationwide: American Family operates in only 19 states. Take a look at our review of American Family auto insurance to see if coverage is available in your area.
- Limited Online Tools: American Family relies more on agents and lacks some online features found with other insurers.
7. Nationwide-Best for Vanishing Deductible
Pros
- On Your Side Review: Nationwide offers annual evaluations through their On Your Side review to ensure you’re not overpaying for coverage.
- Vanishing Deductible: Reduce your deductible by $100 each year with Nationwide’s Vanishing Deductible program. Explore other available add-ons in our review of Nationwide auto insurance.
- Pay-Per Mile: Drivers who don’t get behind the wheel often may benefits from the pay-per mile coverage option.
- Highly rated: Nationwide holds an A+ (superior) financial strength rating from A.M. Best.
Cons
- Limited Availability: Nationwide doesn’t offer coverage in every state.
- High Premiums for Drivers with Accidents on Their Record: If you have an accident on your driving record, premiums can be high.
Free Auto Insurance Comparison
Enter your ZIP code below to view companies that have cheap auto insurance rates.
Secured with SHA-256 Encryption
8. Farmers-Best for Customizable Coverage
Pros
- Signal App: Smart cars drivers can utilize the Signal app to join their UBI program and save up to 20% on your insurance.
- Wide Array of Discounts: Farmers boasts an impressive selection of 23 discounts, catering to nearly every driver’s needs.
- Extensive Coverage Options: Farmers offers various optional coverages like customized equipment insurance, enhancing your protection.
Cons
- Customer Retention Challenges: Despite its comprehensive coverage, Farmers faces difficulties retaining customers. See what customers are saying in our Farmers auto insurance review.
- Coverage Not Available in Certain States: Farmer’s auto insurance coverage is not available in Alaska, Hawaii, Delaware, New Hampshire, Maine, Rhode Island, West Virginia, Vermont, and Washington D.C.
9. Allstate- Best for UBI Discount
Pros
- Customizable Coverage: Allstate offers numerous options for tailoring your coverage. Read our review on Allstate auto insurance to learn about available coverage options.
- Drivewise: By using Drivewise, you could save up to 40% on your insurance.
- Extensive Agent Network: Allstate boasts one of the nation’s largest networks of local agents, ensuring easy access to assistance.
Cons
- Higher Rates: Allstate’s premiums tend to be pricier compared to competitors.
- Subpar Customer Ratings: Despite its size, Allstate receives below-average ratings in customer reviews.
Free Auto Insurance Comparison
Enter your ZIP code below to view companies that have cheap auto insurance rates.
Secured with SHA-256 Encryption
10. Liberty Mutual-Alternative Energy Discount
Pros
- Unique Coverage Options: Liberty Mutual offers a variety of ways to customize your coverage, including better car replacement and original parts replacement. We explore coverage options in our Liberty Mutual auto insurance review.
- Excellent Discounts: Liberty Mutual offers 17 ways to save on your insurance, including a hard-to-find alternative energy discount.
- Easy-to-Use Website: Many customers praise Liberty Mutual for making it easy and convenient to manage their policies online.
- Wide Availability: Liberty Mutual offers auto insurance in every state and Washington, D.C.
Cons
- Average Customer Service: Liberty Mutual’s customer reviews are mixed, with some complaining about their experiences with representatives.
- Expensive for High-Risk Drivers: Coverage for high-risk drivers is likely find cheaper with another company.
Consider factors like coverage options, customer service and discounts when selecting your insurer. Making the right choice ensures you get the best protection at an affordable price, tailored to your needs.Daniel Walker Licensed Auto Insurance Agent
Best Smart Car Auto Insurance Options
In all states, drivers are required to take financial responsibility for damages they cause to others while driving a car, and this includes driving a Smart car. To ensure compliance with this law, many states require drivers to purchase liability auto insurance. Liability coverage pays for car repairs, medical bills, and other accident-related expenses if you are at fault.
Liability car insurance does not pay for any of your own vehicle’s repair bills or for your own other accident-related expenses.
Collision insurance can be purchased as optional coverage to pay for your expenses if you are involved in an accident. If you want even more coverage for weather-related damage, fire, theft, and other types of damaging events, you will need to purchase comprehensive insurance.
There are other optional types of auto insurance coverage to consider when buying a car insurance policy for your Smart car. For example, towing coverage pays for any towing expenses you incur as a result of a breakdown or accident up to the limits of your coverage.
Rental car insurance may pay for you to rent a car when your own vehicle is being repaired up to a certain dollar limit or for a specified number of days per claim.
You can also buy coverage for personal property losses, personal injury losses, and more. Your insurance agent or representative can help you to learn more about the different types of coverage available for your Smart car.
Determining How Smart Car Features Affect Insurance Costs
Many factors determine the cost of your auto insurance policy. Take a look at the table below to see what factors impact your Smart insurance costs:
| Factor | Impact on Rates |
|---|---|
| Mileage | Driving fewer miles can lead to decreased insurance rates, while increased mileage raises the risk and potentially the cost. |
| Time of Day (3–6 p.m.) | During peak commute times between 3-6 p.m., 16% of traffic fatalities occur. |
| Rush Hour Accidents | One in four traffic accidents happens during the rush hour. |
| Accidents Proximity to Home | Accidents are most likely to occur within 25 miles of a driver's residence. |
| Driving Behavior (Rush vs. Relaxed) | Commuters who are often in a rush tend to make riskier decisions, leading to a higher likelihood of accidents. |
| Job & Mode of Commutation | Individuals who use public transportation daily often have lower insurance rates compared to those who commute by car every day. |
| Hard Braking Events | Frequent hard braking is often viewed as an indicator of potentially risky driving behavior. |
| Cellphone Use While Driving | Distracted driving, especially cellphone use behind the wheel, significantly increases the risk of accidents. |
| Vehicle Usage Classification | Cars used for "pleasure" typically have lower insurance rates than those classified under "business" or "commuter" due to risk factors. |
| Driving in High-Risk Areas | Regularly driving in areas that are prone to accidents or vehicle vandalism can lead to increased insurance rates. |
In addition to these factors, car insurance rates are also determined by the vehicle you drive. Some of the features of a Smart car make this a very affordable vehicle to insure, and these features include:
- The power of the engine
- The repair and replacement cost
- Safety ratings
A Smart car generally has a much smaller and less powerful engine than many other vehicles on the market. It also is an affordable vehicle to repair or replace, and it has exceptional safety ratings.
As you can see, there are many factors related to the Smart car that make it very affordable to insure, but you understandably still want to find the best coverage available to save money and enjoy maximum protection from your car insurance policy. By focusing your attention on a few important factors when buying car insurance, you can make a better overall decision for your coverage needs.
Free Auto Insurance Comparison
Enter your ZIP code below to view companies that have cheap auto insurance rates.
Secured with SHA-256 Encryption
Finding Top Smart Car Auto Insurance Companies
Most auto insurance providers offer Smart car coverage, and this gives you a great range of providers to purchase your coverage from. Usually, Erie Insurance and Safeco Insurance offer the cheapest rates for Smart cars of all the top providers.
Read More:
However, not all providers have the same level of financial strength or the same consumer satisfaction ratings. These factors can impact your regular interactions with your provider as well as how easy the claims process is if you need to file a claim.
Therefore, it is wise to begin looking for the best car insurance companies by researching their financial strength online. A great resource to use is the A.M. Best website. Through this website, you can easily search for providers that you want to get a quote from and determine their financial strength.
Consumer Reports and online reviews are also available to help you determine which providers have a solid reputation. You can learn more about billing practices, claims processes, and more by reading various online reviews and reports.
Determining How Much Smart Car Insurance Coverage You Need
Before you request quotes for your Smart car insurance, you need to determine how much car insurance you need to buy. As a starting point, look at state minumum auto insurance requirements. Your lender may also have coverage requirements for you to meet. These should be considered minimum insurance requirements, and you may consider increasing your coverage limits or buying optional coverage.
Wondering what the minimum insurance requirements are for your state?🫣 Don't spend hours searching! Just go to https://t.co/27f1xf131D! We've compiled a list so you can easily see just how much coverage you need!🙌See our complete list here👉:https://t.co/ozuuwlQkj3 pic.twitter.com/U8RpEdrRHw
— AutoInsurance.org (@AutoInsurance) May 1, 2023
Any expenses that you incur through liability or other factors are your responsibility. If your coverage limits are too low or your coverage type does not pay for the expenses, you must pay the expenses out of your own funds.
Many serious accidents can cost tens of thousands of dollars or more, and minimum coverage limits may not pay for the full amount of the expenses.
Increasing coverage limits and buying optional coverage types can decrease your out-of-pocket expenses if you're involved in an accident.Kristen Gryglik Licensed Insurance Agent
Your insurance agent or provider can provide you with recommendations for coverage. Because the minimum requirements vary by state and lender, your agent will need to review your specific factors to determine if buying optional insurance makes sense for you.
Smart Car Insurance: Money-Saving Discounts
While Smart cars are affordable to insure, you understandably want to keep your premium as low as possible. One option to do so is to take full advantage of discounts offered by some providers. A few of the more common auto insurance discounts that you may find with top companies include good student, good driver, anti-theft, and multi-vehicle discounts.
Read More:
- How to Get a Good Student Auto Insurance Discount
- How to Get a Good Driver Auto Insurance Discount
- How to Get an Anti-Theft Auto Insurance Discount
- How to Get a Multi-Vehicle Auto Insurance Discount
These discounts can make your cheap Smart car auto insurance rates even lower.
Free Auto Insurance Comparison
Enter your ZIP code below to view companies that have cheap auto insurance rates.
Secured with SHA-256 Encryption
More About Finding Cheap Smart Car Auto Insurance Rates
Whether you are thinking about buying a Smart car or you are ready to buy insurance for your new Smart car, you can see that this is an affordable vehicle to insure. You can easily request quotes today to identify the best deal overall for Smart insurance.
Get started on comparing your options for cheap auto insurance for smart cars by entering your ZIP code below.
Frequently Asked Questions
How much is the insurance for a smart car?
Smart car insurance is inexpensive, with top providers offering coverage for less than $100.
Is insurance more expensive on a smart car?
Compared to other types of vehicles, smart cars are less expensive to insure.
Are smart cars hard to insure?
Insuring smart cars is generally straightforward, with rates influenced by factors like the vehicle’s safety features and repair costs.
Does credit score affect car insurance for a smart car?
Yes, credit score is one of many factors that affect auto insurance rates. Similar to other vehicle types, it can impact car insurance rates for smart cars by causing lower premiums for higher scores and higher premiums for lower scores.
Is a smart car cheap to run?
Yes, smart cars generally have low overall costs, which include insurance expenses, owing to their compact size, fuel efficiency and reduced maintenance needs relative to larger vehicles.
Who has the absolute cheapest auto insurance for a smart car?
Erie Insurance offers the cheapest auto insurance for a smart car, with rates starting as low as $22.
What is a disadvantage of a Smart car?
One of the most significant cons of a Smart car is its limited space and cargo capacity.
Why was Smart car discontinued?
Smart cars stopped being produced in the United States after 2019 due to low sales.
What are the pros and cons of a Smart Car?
Smart cars are cheap to insure and offer compact size and excellent fuel efficiency, making parking easy and appealing to eco-conscious drivers. However, they have limited space for passengers and cargo, and may lack power for certain driving situations, despite their urban convenience.
What factors affect smart car insurance costs?
Smart car auto insurance costs are influenced by factors such as driving history, location, age, credit score and the selected coverage options and auto insurance deductibles.
Check out smart car insurance costs from top providers by entering your zip code.
Free Auto Insurance Comparison
Enter your ZIP code below to view companies that have cheap auto insurance rates.
Secured with SHA-256 Encryption
Laura D. Adams
Insurance & Finance Analyst
Laura Adams is one of the nation’s leading finance, insurance, and small business authorities. As an award-winning author, spokesperson, and host of the top-rated Money Girl podcast since 2008, millions of readers and listeners benefit from her practical advice. Her mission is to empower consumers to live healthy and rich lives by planning for the future and making smart money decisions. She rec...
Insurance & Finance Analyst
Editorial Guidelines: We are a free online resource for anyone interested in learning more about auto insurance. Our goal is to be an objective, third-party resource for everything auto insurance related. We update our site regularly, and all content is reviewed by auto insurance experts.