The Cheapest (and Best) Full Coverage Car Insurance of 2023
The Cheapest (and Best) Full Coverage Car Insurance of 2023
State Farm has the cheapest full coverage auto insurance for most drivers, at $99 per month on average.
The average cost of full coverage car insurance is $148 per month, or $1,780 per year. That's more than double the average price of liability-only car insurance because it also includes collision and comprehensive coverage.
Compare full coverage auto insurance quotes from the cheapest companies to help you find the best full coverage insurance near you.
The cheapest companies for full coverage car insurance
Full coverage car insurance costs an average of $148 per month. That's more than double the average price of liability-only insurance.
Find the Cheapest Full Coverage Quotes in Your Area
Who are the best cheap companies for full coverage insurance?
- Erie is nearly as cheap as State Farm at $101 per month. But it's only in 12 states.
- Auto-Owners has affordable car insurance in 26 states, with rates of $120 per month.
- Farm Bureau is available in almost every state and costs $134 per month.
- USAA has the cheapest full coverage quotes at $91 per month. But you'll need to be an active military member, veteran or family member to qualify.
Cheap full coverage insurance quotes
Company | Monthly cost | |
|---|---|---|
| State Farm | $99 |
| Erie | $101 |
| Auto-Owners | $120 |
| Farm Bureau Insurance | $134 |
| Geico | $140 |
*Only current and former military members and their families are eligible for a USAA policy.
Full coverage car insurance offers more protection at a higher price than liability-only car insurance.
A liability policy only covers injuries to others and damage to their car or property. Full coverage is more expensive because it includes liability coverage plus collision and comprehensive coverage. Comprehensive and collision coverage help pay for damage to your car in most types of accidents. Your lender usually requires full coverage if you have a car loan or lease.
ValuePenguin gathered hundreds of thousands of quotes from all 50 states and Washington, D.C. Rates are based on a 30-year-old with a 2015 Honda Civic EX and a clean driving record.
The best companies for full coverage car insurance factor in low rates and strong customer service ratings. Full methodology
The best car insurance companies for full coverage
The best car insurance companies for full coverage combine cheap quotes, reliable service and useful coverage options for newer cars.
Best cheap full coverage car insurance
Best cheap full coverage car insurance overall: State Farm
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Editor rating
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Full coverage
$99/mo ?
Why it's great
The combination of affordable full coverage car insurance rates and strong customer experience makes State Farm a great company for drivers around the country.
State Farm is the cheapest insurance company available to almost all drivers across the country. At $99 per month, a full coverage policy from State Farm is $49 less per month than the national average.
State Farm is the largest car insurance company in the United States and has cheaper quotes on average than every other large company and many regional companies.
It also has a reputation for reliable customer service, with a low rate of customer complaints and high marks for claims satisfaction from J.D. Power.
Best local full coverage car insurance: Erie
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Editor rating
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Full coverage
$101/mo ?
Why it's great
Erie has some of the cheapest full coverage rates in the country, along with an excellent customer service reputation.
While Erie is a good company, it's available in 12 states, mostly in the East Coast and Midwest.
Where to get Erie car insurance
Best company for good car insurance coverage: Travelers
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Editor rating
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Full coverage
$146/mo ?
Why it's great
Travelers offers many ways to personalize your policy by adding additional coverage that you won't find with every company, like gap coverage and accident forgiveness.
Drivers needing extra coverage should consider buying full coverage car insurance from Travelers.
- Accident forgiveness
- Gap insurance
- New car replacement
- Rental car coverage
- Rideshare coverage
- Roadside assistance
Travelers isn't cheap, even before the cost of extra coverage. A full coverage policy from Travelers costs $146 per month. Although that’s $2 less per month than the national average, it’s $47 more than a policy from the cheapest company, State Farm.
Best cheap full coverage car insurance for military families: USAA
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Editor rating
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Full coverage
$91/mo ?
Why it's great
USAA is considered one of the best car insurance companies in the country based on its customer support and affordable quotes.
At $91 per month, USAA has the cheapest full coverage policies and some of the country’s lowest complaint rates. J.D. Power's Auto Claims Satisfaction Study consistently ranks USAA as the best company for customer satisfaction.
However, USAA only sells car insurance to military members, veterans and their families, so most drivers can’t buy a policy from USAA.
What is full coverage car insurance?
Full coverage auto insurance typically includes comprehensive and collision coverage, in addition to higher liability limits than the minimum required by your state.
Collision and comprehensive coverage protect your car against damage. Minimum liability coverage usually only offers protection for other drivers' vehicles and their injuries after an accident you cause.
Comprehensive coverage
Comprehensive insurance covers damage to your car that's not strictly related to driving.
- Weather, including hail or storms
- Falling tree branch
- Hitting animals like deer on the road
- Broken window or slashed tires
Collision coverage
Collision insurance covers damage to your car after a crash with another vehicle or structure, like a fence, mailbox or pole.
- Hitting another car
- Crashing into a pole or fence
- Driving over a big pot hole
- Hit-and-run
What else does a full coverage policy cover?
Depending on which state you live in, a full coverage policy typically also includes any other coverage if it's required by your state, like uninsured motorist or personal injury protection.
- Uninsured motorist coverage: Pays for your injuries and property damage if another driver hits you and doesn’t have car insurance. This coverage is required in some states.
- Underinsured motorist coverage: Pays for expenses from an accident where an at-fault driver does have car insurance but their limits are not high enough to cover your costs.
- Personal injury protection (PIP): Pays your medical bills if you’re injured in a crash, regardless of who caused it. PIP may be required in "no-fault" states.
Is a full coverage policy worth it?
A full coverage insurance policy is two and a half times as expensive as a liability-only policy, so you'll want to make sure the extra cost is worth it.
You should consider dropping your comprehensive and collision insurance when you can reasonably afford to replace your car.
This depends on your financial situation and comfort with risk. As a rule of thumb, you should consider dropping full coverage when the value of your car is between four and six times the cost to add comprehensive and collision coverage. That tends to be when your car is 8 to 12 years old or older and worth roughly $5,000 to $10,000 or less.
How much is full coverage car insurance by state?
On average, full coverage policies are two and a half times more expensive than a minimum coverage policy. Full coverage car insurance quotes can vary by more than $300 per month, depending on where you live.
Michigan drivers pay the highest rates in the country, at $399 per month for full coverage. The cheapest state is Vermont, where a full coverage policy costs only $92 per month.
Cheapest full coverage car insurance company by state
State | Cheapest company | Monthly rate |
|---|---|---|
| State Farm | $99 | |
| State Farm | $78 | |
| State Farm | $94 | |
| State Farm | $74 | |
| Geico | $109 |
How to get cheap full coverage insurance
- Shop around to see if you can find cheaper full coverage quotes from a different company.
- Reduce coverage you don't need. You'll get less protection, but the trade-off may be worth it, depending on your situation.
How to compare full coverage insurance quotes
The goal of comparison shopping is to find the same amount of protection for a lower price.
- Compare consistent coverage limits. Choose the same liability insurance limits and coverage add-ons with each insurance company. That way, you're making an apples-to-apples price comparison.
- Choose the same deductible for comprehensive and collision insurance. Increasing your deductible lowers the cost of your policy and can change the quotes you get.
- Get quotes from multiple companies. Different insurance companies tend to offer the same coverage for varying prices. The best and cheapest car insurance company for your neighbor may be different from the best one for you.
How to save on car insurance by reducing coverage
You can also lower your insurance rates by reducing your coverage.
- Skip comprehensive and collision insurance. In this case, you'll no longer have a full coverage policy. But the savings can be worth it if you have an inexpensive car.
- Increase your deductible. If you increase your deductible, you'll receive less money from your insurance company for a claim. In exchange, you'll pay a lower rate. Choose a deductible you can afford to pay in an emergency.
- Lower limits for liability and other coverages. If you reduce your liability limits, you risk not having enough coverage to pay for the total costs after an expensive at-fault accident.
Frequently asked questions
How much is full coverage insurance?
Full coverage car insurance costs $148 per month, or $1,780 per year, on average. Some drivers can find rates as cheap as $99 per month from companies like State Farm or USAA.
Which company is the cheapest option for full coverage?
State Farm is the cheapest widely available option for full coverage auto insurance, at $99 per month. Drivers can also find cheap quotes from Erie, Auto-Owners, Farm Bureau and USAA.
What does full coverage car insurance cover?
Full coverage typically includes collision and comprehensive coverage, along with more liability coverage than your state's minimum requirements. It may also include uninsured/underinsured motorist coverage and personal injury protection if it's required in your state. But the definition of full coverage varies by company.
Do I need full coverage on a financed car?
Yes, most lenders require you to have a full coverage policy with collision and comprehensive if you have a new car loan or lease. Once you pay off your loan, you're free to decide if you still need a full coverage policy.
Does full coverage car insurance replace your car?
If you cause an accident, your collision coverage should cover the repair costs for your car, or pay out your car's current value if it's totaled. If another driver damages your car in an accident, the other driver's liability coverage would pay for your car repairs instead.
Methodology
We collected quotes from 50 states and Washington, D.C., for the top insurance companies in each state. Rates are for a 30-year-old male with good credit and a clean driving record who drives a 2015 Honda Civic EX. Quotes were averaged across all available ZIP codes in each state.
Full coverage limits are greater than any one state's minimum requirement and include uninsured and underinsured motorist bodily injury coverage. Comprehensive and collision insurance each had a $500 deductible.
- Bodily injury liability: $50,000 per person, $100,000 per accident
- Property damage liability: $25,000 per accident
- Uninsured/underinsured motorist bodily injury liability: $50,000 per person, $100,000 per accident
- Comprehensive and collision: $500 deductible
- Personal injury protection: Minimum when required by state
Minimum coverage rates represent the average cost of a policy that only meets a state's minimum requirements for auto insurance coverage.
The best car insurance companies for full coverage offered quotes in at least five states.
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.