Let’s face it- car insurance providers are expensive. Making matters worse for hardworking drivers, most states require these expensive policies to operate a vehicle on the road. Luckily, some companies are better than others regarding car insurance rates and the coverage they provide in the event of drivers getting into car wrecks.

What impacts car insurance rates from providers?

There are several car insurance providers on the market, with some being cheaper than others when it comes to their average rates. According to U.S. News & World Report, the national average is currently $172 per month for the typical driver. However, several factors impact what you’ll pay. A person’s driving record, type of vehicle, and location all come into play. Car insurance companies also offer different types of coverage. Naturally, this will impact the price. 

USAA is known for being one of the car insurance providers with affordable rates

USAA is one of the most recognizable names when it comes to car insurance providers. In fact, The United Services Automobile Association(USAA) has been offering coverage since 1922 and has roots in Texas. On average, people with USAA will pay about $1,322 per year or $110 monthly. As mentioned, several factors play a part in the cost. Luckily, USAA is typically pretty well regarded for how they handle coverage for car wrecks. 

Erie offers cheap coverage, but it’s only offered in 12 states

Another of the cheapest car insurance providers is Erie. This isn’t a name most people will know, but the company has been in existence since 1925. Regarding its rates, drivers typically spend around $1,532 per year on Erie car insurance, which amounts to about $127 per month. However, you’ll have to check to ensure your state offers it, as it’s not even available in half the country. Still, the company is known for its cheap coverage.

Nationwide has cheap rates

Nationwide is another of the best car insurance providers for cheap rates. Dating back to 1926, Nationwide was originally established as the Farm Bureau Mutual Insurance company. It’s fairly affordable because customers spend about $1,621 per year for Nationwide, equating to $135 monthly. 

Geico

Geico has been among the massive group of car insurance providers since 1936. Notably, its founder, Leo Goodwin Sr., worked for USAA before starting the company. Regarding prices, its policies average about $1,778 per year, which is $148 monthly. This is also a well-regarded company in terms of how it handles claims for car wrecks and other problems drivers may encounter. 

Progressive

Progressive is another of the most well-known car insurance providers, and it also happens to be affordable. It comes out to an average of about $1,848 per year, which is around $154 per month. However, drivers should note that Progressive isn’t always the most highly rated company. Many people don’t like the company’s service, nor do they appreciate handling claims. Still, it’s one of the most popular options. 

Check out what customers call some of the worst car insurance providers for more reading.