What is the biggest auto insurance company to have cheap rates?

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Things to Remember...
  • Auto insurance is something that all drivers are required to have by law and it’s important to find not only the best company but the one that will give you the best rates
  • Auto insurance companies use a credit score and different kinds of criteria to figure out what your rate is
  • Your costs also depend on the minimum requirements for your state on how much insurance you must have by law versus the levels of insurance that may better cover you in the case of an accident
  • If your car is still being financed, the finance company will require you to have more than the state-required minimum coverage so that they can cover their own losses if your vehicle is damaged or destroyed in a car accident

Auto insurance is something that all drivers are required to have by law and it’s important to find not only the best company, but the one that will give you the best rates.

You also will need a reliable and trustworthy auto insurance company. Enter your ZIP code into our FREE auto insurance search tool to find the best companies and rates.

If you are looking for the cheapest auto insurance company, you should know that there is no such thing. Just because your co-worker or friend is paying cheap rates at a particular, company doesn’t mean that same company will give you the same rates.

How Companies Decide Rates

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If you want to find the cheapest auto insurance company, it isn’t as easy as going down a list and picking a certain one. Auto insurance companies use a credit score and different kinds of criteria to figure out what your rate is.

Therefore, when comparing the cheapest or the biggest auto insurance companies, you have to be certain you are actually comparing similar results.

Some of the most commonly used factors in determining a driver’s rate are their driving record, their age, sex, kind of car or another vehicle, and where they live and plan to drive the car.

Just because a company is bigger or cheaper doesn’t mean it’s the best auto insurance company for your needs.

What Level of Insurance is Necessary

Your costs also depend on the minimum requirements for your state on how much insurance you must have by law versus the levels of insurance that may better cover you in the case of an accident.

If you are looking for the cheapest auto insurance company rates, it will most likely only cover the bare minimum according to the law.

This means that it may or may not be enough depending on the severity of the accident or incident.

For better, although somewhat more expensive, it is advisable for drivers to have comprehension and collision so that your auto is covered, not just the vehicle of whoever you may have hit.

Otherwise, you may find yourself having to cover the costs of a repair or new vehicle that you may not be able to afford if the accident was found to be your fault.

The laws that define most minimum coverage usually only cover the vehicle you hit when you are at fault and not your own car.

In addition, if your car is still being financed, the finance company will require you to have more than the state-required minimum coverage so that they can cover their own losses if your vehicle is damaged or destroyed in a car accident.

The facts are that you need to choose not just the cheapest or biggest company, but it should be the company that charges you the best rate for your specific situation. You also need to check out the company’s reputation and ratings.

Be sure to choose not only the cheapest but the company that has a well-known name and reputation.

For instance, if you pick a no-name generic company, it may not be licensed properly and if you have an accident it may turn out you have no coverage.

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Auto-Owners Insurance Group

They are rated highly for their stability and financial standards. They operate in 26 states and have nearly 40,000 agents.

They also offer insurance for life, business, long-term health care, etc with services included in their products for things like pet medical expenses, glass breakage, etc.

You can get even cheaper rates if you do business with them online or if you qualify for things like multi-policy, senior discounts, good driver, etc.

Esurance

Esurance is one of the more popular, lower cost auto insurance agencies. Is relatively new at providing insurance and opened in 1999.

They have coverage in 30 states and at the time of this writing had more than a half million customers.

Esurance offers all three types of auto coverage: collision, comprehensive, and liability, as well as rental, medical, etc. Some of their discounts you may qualify for include good driver, multi-policy, etc.

The Hartford

If you are over 50 years old, a large and well-known company that offers cheap rates is the Hartford, which is geared for members of AARP.

They offer several discounted plans such as multi-car, safe driver, accident forgiveness, airbag discount, discounts for those who take driving safety classes, disappearing deductibles, and more.

In order to find cheap auto insurance rates you must be willing to compare not only the costs, but the reliability and ratings of each company, large or small.

Check out the rates available to you from several of the biggest auto insurance companies when you enter your ZIP code into our FREE auto insurance comparison tool!

FREE Auto Insurance Comparison

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