What Is the Cheapest Car Insurance Company? - Slimmer Payments

What Is the Cheapest Car Insurance Company?

If you have a speeding ticket. If you’ve been in an accident. If you’ve been in the Military. If you’re a senior. All of these factors go into your bottom line for what makes the cheapest car insurance. So if you check the right boxes, then the lowest or cheapest rates come from USAA.

The only catch is you need a connection to the military to qualify for coverage. That’s alright though, there are plenty of other cheap car insurance companies you can qualify for if you don’t check the military box.


Your credit score affects the rates for car insurance? You should monitor your credit score and clear up any errors before shopping for the best deals available. The type of car, average miles driven, and many other factors affect how much you’ll be paying for insurance.

Top 10 Writers Of Private Passenger Auto Insurance By Direct Premiums Written, 2020

Rank Group/Company Direct Premiums Written Market Share
1 State Farm $40,397,656 16.2%
2 Berkshire Hathaway Inc. $33,926,566 13.6%
3 Progressive Corp. $33,171,941 13.3%
4 Allstate Corp. $25,878,688 10.4%
5 USAA Insurance Group $15,772,993 6.3%
6 Liberty Mutual $11,847,079 4.7%
7 Farmers Insurance Group of Companies $9,936,840 4.0%
8 Nationwide Mutual Group $5,778,149 2.3%
9 American Family Insurance Group $5,168,252 2.1%
10 Travelers Companies Inc. $4,890,393 2.0%
 Source: NAIC data, sourced from S&P Global Market Intelligence, Insurance Information Institute.