Cheapest Auto Insurance - All You Need To Know

 

In this blog we are going to talk about cheap full coverage loan insurance.  Full coverage car insurance  refers to the policies that includes comprehensive coverage to the car  in addition to the  minimum  insurance requirements by the state. Full coverage is not mandatory for self owned vehicles but it is mandatory for vehicles which are leased or financed. The reason is that it offers more protection than the minimum coverage required by the state. Full coverage is comparatively more expensive than the basic policy.  On an average the full coverage insurance costs more than 2000$ per year. On the other hand basic policy  offered by the state cost only 700$ per year. If you are looking for a cheaper full  coverage policy here are some tips which might be useful for you. 

First one, Estimate the coverage limits that you need. Once you fulfill the insurance requirements by the state you can decide whether you want to increase the coverage limits  or to add another comprehensive  insurance. 

Second one, Choose a deductible as per your financial circumstances. Higher deductible would lower you rates. Always choose an amount which you can afford to  pay in an unexpected circumstances.

Finally, you should shop around for coverage. Different companies have different  methods of calculating premium. So you should contact with at least three insurance companies and analyze their insurance policy then you can choose the best policy which suits your financial situations. 

Cheapest Auto Insurance Companies

According to the latest analysis of minimum coverage rates. Here are the cheapest annual auto insurance rates for the top five auto insurers in the united states. 

1. Geico is the cheapest major auto insurance company  in the country. Geico's average annual rate was  354$ or about 29$ per month. 

2. State farm -  Average annual rate is 452$ or  an average monthly rate 38$

3. Progressive -  Average annual rate 619$  or an average monthly rate 52$

4. Farmers -  Average annual rate 620$ or an average monthly rate 52$

5. Allstate  - Average annual rate 666$  or an average monthly rate 55$.