The Best and Cheapest Full Coverage Car Insurance

Find Cheap Auto Insurance Quotes in Your Area

Currently insured?
{"id":6,"isAgeFieldVisible":true,"isInsuranceTypeFieldVisible":true,"isInsuredStatusFieldVisible":true,"buttonText":"Find Insurers","customEventLabel":"","defaultZip":"","defaultProduct":"auto","quoteWizardEndpoint":"https:\/\/quotes.valuepenguin.com","trackingKey":"_best-cheap-full-coverage-auto-insur","title":"Find Cheap Auto Insurance Quotes in Your Area","vendor":"vp"}

The average cost of a full coverage car insurance policy is $2,399 per year or $200 per month. Across insurers, this is more than double the price of the average cost of car insurance policies that only meet state-minimum car insurance requirements. Erie is our selection for the cheapest full coverage policy in the country, with an average annual rate of $1,521 or $127 per month.

However, prices for full coverage policies vary widely by state and insurer, and we've analyzed rates of the major insurers in every state to rank the cheapest on average. Ultimately, no single insurer will offer the most affordable full coverage quotes for everyone, so it's best to use our analysis as a jumping off point to shop around for cheap full coverage auto insurance near you.

The best companies for full coverage car insurance

Our analysis found that Erie is the best in the country for low-cost full coverage policies with an average annual rate of $1,521, or $127 per month. State Farm and Farm Bureau Mutual rounded out the top three, costing just under $150 per month.

On average, the extra protection included in a full coverage policy costs an additional $123 per month compared to getting a minimum coverage policy from the same insurer.

RankInsurerFull coverage monthly premiumMinimum coverage monthly premiumDifference
1Erie$127$36$90
2State Farm$145$38$107
3Farm Bureau Mutual (IA Group)$148$54$94
4American Family$170$59$111
5Auto-Owners Insurance Co$176$68$108
6GEICO$180$68$112
7Nationwide$191$77$114
8Progressive$199$81$119
9Metropolitan$204$84$120
10Travelers$251$116$136
11Allstate$295$118$178
12Farmers$357$122$234
NAUSAA$109$36$73
Average$196$74$123
USAA is excluded from rankings as only current and former military members and their families are eligible for a policy.

How much is full coverage car insurance by state?

Auto insurance is regulated by state, and rates can vary greatly depending on which state you reside in. Below we've compared the average monthly cost of a full coverage policy to the cost of policies that only meet state minimum coverage requirements. On average, full coverage policies are almost three times as expensive as a minimum coverage policy.

StateMonthly cost of full coverageMonthly cost of minimum coverageDifference
AL$173$61$112
AK$125$40$85
AZ$225$82$143
AR$184$56$128
CA$150$48$102
CO$264$90$174
CT$218$99$119
DE$209$110$100
D.C.$233$105$128
FL$281$214$67
GA$218$93$125
HI$112$40$72
ID$148$51$98
IL$193$73$120
IN$124$42$83
IA$123$30$94
KS$182$55$128
KY$285$112$173
LA$294$111$183
ME$106$41$65
MD$203$98$104
MA$155$54$102
MI$727$440$287
MN$189$82$107
MS$184$62$122
MO$215$73$143
MT$210$53$157
NE$170$50$120
NV$266$108$158
NH$167$54$113
NJ$251$98$153
NM$183$58$125
NY$229$110$119
NC$120$45$74
ND$165$44$121
OH$141$47$94
OK$222$62$160
OR$184$95$89
PA$168$51$117
RI$321$132$188
SC$168$71$97
SD$195$35$160
TN$152$48$104
TX$216$74$142
UT$212$92$119
VT$147$46$101
VA$125$51$74
WA$141$59$82
WV$178$57$121
WI$133$41$92
WY$176$40$136

Some states have a bigger cost gap between their minimum coverage policies and full coverage policies than others. South Dakota, Wyoming and Iowa have the largest percentage jump in price when you buy full coverage instead of minimum coverage.

StateMonthly full coverageMonthly minimum coverageRate increase
South Dakota$195$355.6x
Wyoming$176$404.4x
Iowa$123$304.1x

Conversely, Florida, Michigan and Delaware have the smallest percentage jump in price when opting for more coverage. Michigan (first) and Florida (second) are among the most expensive states for minimum coverage, so the additional expense of full coverage policies is affordable in relative terms.

StateMonthly full coverageMonthly minimum coverageRate increase
Florida$281$2141.3x
Michigan$727$4401.6x
Delaware$209$1101.9x

What is a full coverage policy and is it worth it?

Given that full coverage policies are three times as expensive on average in any given state, you'll want to make sure the extra cost is worth it.

Full coverage auto policies are typically — but not always — defined as policies that add comprehensive and collision coverage to the minimum coverage required by your state, such as liability coverage. These added coverages protect your vehicle against physical damage, rather than other drivers' vehicles, as liability coverage does.

Sometimes a full coverage policy may be defined as a policy also including uninsured or underinsured motorist coverage or personal injury protection. However, the exact definition of full coverage is not important: what matters is that you buy appropriate coverages for your situation.

As a rule of thumb, full coverage policies with comprehensive and collision insurance are worth buying if the current value of your car exceeds your annual premium plus your deductible.

What is a full coverage policy?

There is no fixed definition, but the most common understanding of a full coverage policy is one that includes comprehensive and collision insurance. These coverages are optional, as they are not required by states to be part of an auto insurance policy.

Comprehensive insurance covers damage to your vehicle resulting from so-called acts of God, or damages that are not strictly related to driving. This includes but is not limited to:

  • Damage caused by weather, including hail or falling trees
  • Vandalism or theft
  • Impact with animals on the road

Collision insurance covers damage after your vehicle is involved in a crash with either another vehicle or a fixed structure. This could include:

  • You crashing into another driver's car or vice versa
  • You driving into stationary objects, either by driver error or hazardous conditions
  • Your car being subject to a hit-and-run

Collision and comprehensive insurance both have deductibles associated with their coverage. A deductible is how much your insurer will subtract from your claim check when you make a claim. To use a simplified example, if your $5,000 car is totaled and you have a deductible of $1,000, your insurer will send you $4,000 to cover the cost of replacement. You will have to pay the remaining $1,000 out-of-pocket.

What other coverages could be included in a full coverage policy?

Sometimes when an insurer uses the term full coverage, they may be referring to a policy with the full suite of available coverages. In addition to liability, comprehensive and collision coverage, this could include:

  • Uninsured motorist coverage: Covers you for bodily injury and property damage costs if another driver is at fault for an accident and that driver does not have car insurance. This coverage may be required in some states.
  • Underinsured motorist coverage: Reimburses expenses resulting from an accident where an at-fault driver does have car insurance, but their insurance limits are not sufficiently high to cover your costs.
  • Personal injury protection (PIP): Covers the costs of injuries you sustain in a crash, regardless of fault. It may be required in "no fault" states.

Is a full coverage policy worth it?

Because comprehensive and collision protects the value of your car, it's worth buying a full coverage policy if your car is still valuable enough to warrant a claim. A good rule of thumb: Full coverage is worth it when the current value of your car exceeds the cost of adding full coverage plus your deductible.

Using the average cost of Erie full coverage policies as an example, the following table shows an example in which full coverage is worth the cost:

Average yearly premium of minimum coverage$451
Average yearly premium of full coverage$1,521
The cost to add full coverage [A]$1,070
Collision/comprehensive deductible [B]$500
Current value of your car [C]$5,000
Current value of car minus premium plus deductible [C-(A+B)]$3,430

In this example, the value of the car more than offsets the sum of your annual premium and deductible. You would be reimbursed by your insurer for over $3,400. On the other hand, here is an example of when full coverage won't be worth the cost:

Average yearly premium of minimum coverage$451
Average yearly premium of full coverage$1,521
The cost to add full coverage [A]$1,070
Collision/comprehensive deductible [B]$500
Current value of your car [C]$1,000
Current value of car minus premium plus deductible [C-(A+B)]-$570

In the second example, you have a much less valuable car. The cost of adding full coverage and the associated deductible mean that the value represented by a claim is negative. In this instance, you're getting no benefits from full coverage insurance.

Of course, these are just illustrative examples. Many things could affect these variables. For instance:

  • The cost of adding full coverage to your car may be much cheaper or more expensive.
  • You can alter your deductible, which will affect both the price of your policy and the value of a claim.
  • The value of your car may vary widely from these examples, though the value will decline each year.

Drivers shopping for full coverage insurance should keep all of these factors in mind when deciding whether the policy is worth it for them.

How to get cheap full coverage insurance

In the short-term, there are two ways to get cheaper full coverage car insurance: shop around and reduce coverages.

Shopping around allows you to see if different insurance companies rate you differently, with the potential to get the same coverage for a lower price.

Reducing coverages will lower your rates in exchange for less protection from the insurer, but the trade-off may be worth it; it depends on your personal situation and tolerance for risk.

How to shop around for full coverage insurance

The goal of shopping around is to find equivalent insurance protection for a lower price. When comparing policies with different insurers, you should make sure that:

  • You select consistent liability limits. If you shop with an insurer and select $25,000 in bodily injury liability per person, $50,000 in bodily injury liability per accident and $25,000 in property damage liability per accident, you should select the same with comparison insurers.
  • You select the same deductible for comprehensive and collision insurance. Increasing your deductible lowers the cost of your policy and vice versa.
  • You select the same coverage limits for all other coverages, such as uninsured/underinsured motorist coverage, personal injury protection and more. Additional protections cost more money.

If you follow these steps, you'll find that different insurers will offer the same coverage for varying prices. The best and cheapest car insurance company for your neighbor may not be the same as it is for you.

How reducing your coverages can lower your insurance premium

You can also lower your insurance premium by reducing your coverage. For example:

  • You can forego comprehensive and collision insurance. In this case, you'll no longer have a full coverage policy. But the savings will be worth it if you have a low-value car, as in our example cited above.
  • You can increase your deductible. If you increase your deductible, you'll lower the amount your insurer will pay you for a claim. In exchange, you'll pay a lower premium.
  • You can lower limits for liability and other coverages. If you reduce your liability limits, you're reducing the protection offered by your insurer. You should be aware, however, that you're putting yourself at risk for being unable to use your insurance to cover the total cost of bodily injury or property damage to others if you're at fault for an accident.

However, keep in mind that there is risk associated with decreasing coverages. Although sometimes it may make sense to forego additional coverages that provide unnecessary protection, you also risk insufficient coverage after a costly accident.

Increasing your deductible increases your out-of-pocket costs when making a claim, so you risk paying more from your savings after an accident. And decreasing liability limits could expose you to unexpected costs if your insurance isn't enough to cover a major accident.

The share of drivers that have comprehensive insurance: By state

Most drivers have comprehensive insurance, but the share of drivers who have these coverages may vary by state. Including comprehensive insurance on your policy can be particularly important if you're in a location with severe weather or high crime rates, as it protects your vehicle from off-road perils such as natural disasters or theft.

The following five states have the largest share of drivers with comprehensive insurance:

StateShare of drivers with comprehensive insurance
New Hampshire93%
Massachusetts91%
Connecticut87%
Florida84%
Illinois84%

In a state like New Hampshire, where car insurance isn't required, those who voluntarily purchase a policy may be more likely to purchase all the coverages available, and thus include comprehensive insurance.

The following five states have the lowest share of drivers with comprehensive insurance:

StateShare of drivers with comprehensive insurance
New Mexico62%
Wyoming65%
Montana65%
Oklahoma67%
Arkansas68%

Given that they're inland, these states may not typically be thought of as natural disaster states in which hurricanes or earthquakes strike. But that doesn't mean comprehensive insurance isn't a good investment for at-risk owners with higher-value vehicles. Oklahoma has an extremely high incidence of tornadoes, Arkansas is at risk from severe weather including heavy storms and New Mexico, Wyoming and Montana are subject to wildfire risk.

All of these perils are covered by comprehensive insurance, and consumers looking to protect a valuable vehicle against these dangers should consider the coverage.

Some of the most notable states for hurricane risk (and other natural disasters) not cited above are California, Texas and Louisiana. In fact, although they don't fall in the bottom five for the share of drivers with comprehensive insurance, drivers in these states have a surprisingly low share compared to the rest of the country.

  • In California, 73% of drivers have comprehensive insurance, placing it 35th of 50 states and Washington D.C.
  • 72% of Louisiana residents have bought comprehensive insurance, ranking it 37th.
  • Texans hold comprehensive insurance 71% of the time, good for 39th in the country.

Despite the myriad of risks in these states — hurricanes, flooding, thunderstorms, fires — many drivers have chosen to forego comprehensive insurance. If you have a valuable car and are in and at-risk area for natural perils, consider comprehensive insurance to protect against the risk of damage to your vehicle.

Below we rank all 50 states and Washington D.C. by the share of drivers with comprehensive insurance.

RankStateShare of drivers with comprehensive insurance
1New Hampshire93.3%
2Massachusetts90.7%
3Connecticut87.4%
4Florida84.2%
5Illinois84.2%
6Pennsylvania84.0%
7Michigan83.9%
8Maine83.7%
9District of Columbia83.4%
10Maryland83.2%
11New York82.9%
12Washington82.8%
13Wisconsin82.7%
14Minnesota82.4%
15Ohio82.4%
16Vermont81.6%
17Oregon81.5%
18Delaware81.4%
19New Jersey81.1%
20Virginia80.9%
21Utah80.0%
22Hawaii79.1%
23Indiana78.0%
24South Carolina77.1%
25Iowa76.1%
26Colorado74.8%
27Arizona74.7%
28Alaska74.6%
29Rhode Island74.0%
30North Carolina74.0%
31Tennessee73.9%
32Nevada73.6%
33North Dakota73.6%
34California73.2%
35Missouri73.1%
36West Virginia72.7%
37Louisiana71.9%
38Kentucky71.7%
39Texas71.2%
40Idaho71.1%
41Georgia70.6%
42Alabama70.6%
43Mississippi69.6%
44South Dakota68.9%
45Nebraska68.7%
46Kansas68.0%
47Arkansas67.8%
48Oklahoma66.9%
49Montana65.3%
50Wyoming64.6%
51New Mexico62.2%

Methodology

We collected quotes from 50 states and Washington, D.C. for 51 insurance companies. Our base driver was a 30-year-old male who drove a 2015 Honda Civic EX, and quotes were drawn from all available ZIP codes in each state. The driver was profiled as having no credit history, making him equivalent to a driver with below-fair to poor credit, according to our data source, Quadrant Information Services.

For the full coverage policy, we gave him coverage limits slightly above any one state's minimum requirements. We also included uninsured and underinsured motorist bodily injury coverage. Comprehensive and collision insurance each had a $500 deductible.

Sample full coverage policy:

Coverage typeStudy limits
Bodily liability$50,000 per person/ $100,000 per accident
Property damage$25,000 per accident
Uninsured/underinsured motorist BI$50,000 per person/ $100,000 per accident
Comprehensive & collision$500 deductible
Personal injury protectionMin. when required by state

Our rates for minimum coverage policies represent the average cost of a policy that only meets a state's minimum required auto insurance coverage.

The share of drivers with comprehensive insurance by state was calculated using data from the National Association of Insurance Commissioners Auto Insurance Database Report. Total written exposures for comprehensive insurance were divided by written liability exposures.

ValuePenguin's analysis used insurance rate data from Quadrant Information Services. These rates were publicly sourced from insurer filings and should be used for comparative purposes only — your own quotes may be different.

Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It has not been previewed, commissioned or otherwise endorsed by any of our network partners.